Replies to post #45685 on Sphere 3D Corp. (ANY)

[mensplus]

Sympathy? More like bewilderment ,this stock ran from pennies to ten bucks,Instead of cashing out, or playing with "house money",some doubled down,than failed to put in decent stop losses,or buy puts for protection.I believe the likes of Opus have not sold for the same reason some banks rather "extend" bad loans....Writing off worthless paper looks terrible on the balance sheet.
The OVRL/Sphere marriage was at least MY eye opener, made no sense, except as you suggest ,they needed a new pump and dump,they got to mask GW's invisible revenue,OVRL was cash strapped,ANY paid 100% premium in stock for the "merger" and btw both companies were already intertwined through cross ownership and EK serving both boards.

[derek32smith]

To be more specific, the original Sphere team had no IT industry experience. As a matter of fact, the "story" pitched for Sphere was lifted verbatim from another "stock promotion" that PT took to market. And that which failed too. EK had led Overland to 8 years of consecutive quarterly losses.

Enough said.

Glassware was a figment of someone's imagination. It was never a real product, even before PT got involved. There is evidence the end user component was IP taken from another vendor. The backend required Microsoft Server to function. There is ZERO chance that that technology would be successful in the market. I said that in 2014.

And was 100% correct.

If investors had taken five minutes to read the SEC warnings about Pump and Dump schemes they could have saved themselves millions of losses.

[My401K]

I refer to him as PT, others simply call him "the Greek". He is/was shown as the President of Sphere 3D. I'd suggest you google him, or perhaps go to https://thescamologist.wordpress.com/2014/05/07/peter-tassioupolous-part-3/, which pops up early, and read up a little.

As I saw things go down a few years back, and given that CCP had effective control over Overland/Tandberg, they forced a shotgun wedding between O/T, which was struggling to make payroll, with Sphere 3D, which had acquired ownership of some "disruptive" (ha) software (perhaps dubiously). Enter PT. If you've read the link above, you will see how he has a history of taking not-easily-disproved, and not-commonly-understood, technology, and making it look like the next Apple to (uh, naïve) industry outsiders.

If the $45MM buyout had/will happen, he winds up being running the surviving entity, which will be dead broke but presumably debt free. That, of course, assumes that EK & Company actually pay the full price. To me, it is more likely that someone will buy off the senior debt holder, which last month had been Opus Bank. Opus apparently just sold the note to Colbeck, which is in the business of picking carcasses for morsels, and it is very unlikely that they bought the note for anywhere near the face value. This, to me, suggests that Opus didn't reasonably believe that EK would come through and their senior lien(s) would be fully retired. The next junior debt is a fairly big chunk owing to a Spanish bank that is affiliated with CCP. They had once worked their way out of debt to the Spanish bank by moving the debt to (the, uh, very naïve Opus), but have since been drawn back in to make payroll, probably too many times . . .