Yes, I did read that and I agree. But just saying that the associated number of shares SPNGE would have had to issue is not that huge at these prices.
HOWEVER, let me also say that I stayed up late last night thinking this all through -- and I decided to bail.
The risks here are immense: PK, SEC, O/S, R/S, SM, and the mystery customers...
I had sold my large position in August and Sept. But then recently I bought back a much smaller position. I thought I could live with the risk, but I can't. So, I sold out at a measly profit of $117 (LOL).
Best of luck to remaining longs! IF they can file their 10k, show a low O/S, dodge the SEC, and get D&T signing off on the revenues, then this is going to $1 -- regardless of any MOASS.
I wish I could bring myself to hang on, but I was a happier person on the sidelines. The rumors and risks and roller coaster over the past year have had a cumulative effect on my willingness to hold SPNG -- even though I have made a ton of $$. I continue to think this will do well, but this SPONGEAHOLIC thinks he's better off out.
Wadi
News 
Market Data 
Discover 
AI
