I view AHAG pretty much the same as I do with many of the shells I am interested in: I'm not sure if/when anything will happen with the shell, but the risk/reward looks good enough that I would like to be pre-positioned.
Generally speaking, most pink sheet shell investor attention over the last few years has been focused on those shells with already-existing higher share structures. I think this was the result of some SEC regulation changes which seemed to make the high-share count shells much more attractive to potential RM clients. So I think a lot of these low-share count pink sheet shells have probably been ignored/shunned by retail shell investors.
That makes Robert Sillerman's acquisition of the GWAY/FNCX shell (4M outstanding, 15-12G filer) somewhat of an eyebrow raiser. It could quite possibly renew interest and speculation in low-share structure pink sheet shells. That is why I plan on maintaining the decent-sized positions I have built in 15-12G filing shells like AHAG and CFON.
One interesting thing the GWAY and AHAG shells had in common: both shells had management with current or past connections to the Steel Partners hedge fund (see post 3851).