Replies to post #18100 on Spectacular Solar Inc (SPSO)

[ORCA]

ONE BIG MISTAKE AND THIS IS TOAST.THEY WILL SURVIVE THE CHAPTER 11,BUT NOT THE SHAREHOLDER LAWSUIT IF THEY LET HER GO TO GREY MARKET.I DO NOT THINK THEY UNDERSTAND THAT.THEY WILL BE SERVED.

[Edward]

Heck still can be sued. Heck was in charge when all this happened,he is responsible. Going forward

Don't know about going private, because the court will only approve CH.11:



The Bankruptcy Court must find that confirmation of the Plan is not likely to be followed by the liquidation, or the need for further financial reorganization, of the Debtor or any successor to the Debtor, unless such liquidation or reorganization is proposed in the Plan..( which there is no indication of it).


I believe they will file Y/E financials by 4/30/2023, the deadline for the grey market.

[Edward]

Shareholders have to approve a buyout from a purchaser for a public company to go private. management cannot do it on their own.

Also,

Investors offer a premium above the current market price as inducement to shareholders to give up ownership in the company whick is favorable to the shareholders.

So, shareholders will receive a higher price then the trading price.

Anyway, it is not going to happen. Company is profitable (Nov and dec2022 financials) and the balance sheet is decent.

Yes, penny stocks do this, but only the one's that can't make money and have an extremely bad balance sheet with no real future.

Not the case with SPSO.