Well, I sort of misspoke when I said "negotiated settlement" -- got a lot of PMs and some public guffaws over that. But what I mean is that the SEC is now looking at SPNGE. This could be very bad for management and/or very bad for shorts. I certainly think the SEC could "nudge" the shorts toward the bargaining table.
But what do I know. I'm not even sure there are shorts.
But I do think that going 1934 is a very positive step. Is it too far-fetched to think that the SEC might be getting involved now (rather than back in the spring) because they watch more carefully over 1934 Act companies?
so you think that SPNG is going to negotiate a deal with the shorts by selling them shares to take care of the naked position and then release a tender offer on approximately 3 Billion shares?? an offer of what 10 cents which would still be 300 million and all patient longs would get screwed..
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