Yeah, the creditors are supporting.....have put a nickel under the SPHE PPS, which is a nice % rise from here. And you'd think that by now, the company would have cut the fat away from what was clearly a blown out budget.
I'm not too worried about the lawsuit; maybe they'll get a small $ penalty at worse IMO. Of more concern is the fact that SPHE hasn't been a well run company to date. And companies that aren't well run do exactly what SPHE has just done: plug in the printing press when they need some $$ relief.
Hopefully we'll learn a lot more about the company in Oct.
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