Bankruptcy reorgs are never "good" for common stock holders. They might be good for the holders of SPNG debt, but that's about it. This stock is still very overpriced. With almost 3 billion shares oustanding and a lot of debt accumulating, the show is almost over here for the little guy.
We are apt to shut our eyes against a painful truth... For my part, I am willing to know the whole truth; to know the worst; and to provide for it. --Patrick Henry, Patriot and Hero of the American Revolution