Sounds absurd. BUT, the people involved here are not the kind of people to create such a fiasco just to make a couple bucks in this market.
They don't need to. The Harringtons are already loaded and they don't put money into something that won't benefit them and/or the people around them.
.40 for the O/S is ludicrous and these types of deals just never happen in pennyland but, we don't know the terms of the deal and the PR was very vague. If Kevin Harrington can get $20,000,000 from a Hedgefund to start a company, well then I think they have the resources to accomplish this goal.
There are plenty of negatives to point out about IHSN and I'm not trying to say this is 'The Stock of a Lifetime' and if it turns out to be a fraud, then I guess you can chalk me up with the Harringtons as a dumbass, but I think it may deserve a little more DD than just scratching the surface.