That's true, if they do the RS and fail to uplist, then it will be the beginning of the end for SPNG.
The whole RS thing is a slap in the face of investors, but when you read comments from people like Arfie, you can clearly see that they simply don't give a rats arse about the common shareholder.
It was a sleezy thing to pull and as you said, it was not necessary, but not really surprising either.