SPO Networks Inc (SPOI)

[Sparks100]

HLNT/NIR/Ribotsky/Humphries/Walters/PWC Lawsuits Update 09/14/2012:

Today, Humphries, though his attorney, Espinoza, filed a Notice of Volutary Dismissal in the lawsuit he filed against HLNT, Foster and Robinson. See the PACER system, Nothern District of Texas, Case #3:12-cv-02615, Document #7.

Just as a reminder, we've been told that "Now HLNT is gonna go through the chest beating that always precedes the settlement offer." just today (Post #76742). We've frequently been told, even yesterday, that we should "WATCH THE HUMHRIES V HLNT CASE VERY CLOSE." (Post #76548, Thursday, Sept 13th). And how about this that we were told on Wednesday, the 12th of September, "Humphries filed his personal bk and then filed the HLNT lawsuit. Some here will try ta tell ya that case has no teeth. O yes it does and more are involved in sharpenin those teeth than most know. It's been deal time since the day Humphries got arrested. Compare his treatment to that of fellow SSEV?HLNT director Buckeye Epstein. Aint no comparison and that has Robinson's knickers in a huge bunch. Same with the Plumber (HLNT Robinson appointed CEO).
WATCH THIS CASE VERY VERY CLOSE. SOME ARE GONNA DO TIME and it aint the PARROT." (Post #76389).

No matter what else has been said, the case should never have been filed in the first place, and Humphries, and his attorney, Espinoza, have now come to realize that.

No teeth (let alone any to sharpen)!
No chest beating needed!
No settlement!
No dilution!
No bankruptcy!

And definitely, neither of the two individuals mentioned above have their knickers in a hugh bunch.

Other Issues:
The New York case has a status conference coming up on the 11th of October. If the judge in the New York case hasn't signed off on the HLNT/NIR/PWC/Ribotsky settlement yet, she will do so at that time. Undoubtedly, there will be some discussion as to what will happen with the remaining litigants, and considering that Humphries will be a typical no show, it would be interesting to see what Walters attorney has to say. Expect Walters to get serious about a settlement offer that HLNT would think is acceptable.

The case against HLNT by Walters in Texas is still in the discovery stage and no updates are available there yet. But pretty much, this case is going to go the same direction of the New York case against Walters. Both cases concerning Walters can be expected to be disposed of simultaneously.

HLNT still has a legal interest in Humphries bankruptcy case. The next action to be expected there is the hearing in which the value of Humphries house will be determined and possibly whether or not it will be foreclosed upon as settlement in the bankruptcy case. The hearing for this will take place on the 2nd of October.

The opinions expressed herein, other than those quoted, are my own, and investors should conduct their own due diligence and make their own investment decisions accordingly.