This is becoming a most classic case of cat and mouse... and I believe the mouse is cornered.
The entities responsible for selling and thus creating these air shares are financed beyond what we may expect. I have heard fears of bankrupting brokers or hedge funds and such, and IMO that will not be the case. These entities have successfully destroyed many micro-cap (and larger) companies and are very, very well heeled.
They are also not used to losing and have not come to grips yet with the fact that they ostensibly have no way out of SPNG without taking a bath, but when forced are prepared to do so. I believe they, like us, are waiting for the 10K and more importantly, again IMO, the 10Q in October for validation of the legal share structure and financials. Information within these documents may very well demand much higher share prices than these current levels.
At some point they will begin to resign themselves to the fact that we will never be in the teens again. As they break ranks and begin to cover, a very interesting thing happens.
MOST of the shares in your account MUST be bought by them and then evaporated back to the thin air from which they evolved. MOST of us will likely never see Nasdaq as a very large majority of our collective shares will no longer exist.
At the end of the day, upon CUSIP change, there will only be as many shares in the float as are legally allowed. Those with real certificates behind them.
GLTA
AI
