I don't think there wil be a divy, and even if there will be, it would be such a small percentage that it wouldn't even show. If he dilutes more, then the spin off would either be just as diluted of you would be given a percentage, say 1 for 10. Then again, who wants to buy a porn stock anyway?...
There were other centers that were to open in California as well but that flopped and franchisers backed away.
The spin off could also take a very long time if it ever happens.
I also checked the short position, and it is only about 11,000