How is he wrong about it starting delisting? Apart from NASDAQ announcing they've halted trades for SAPX, NASDAQ has also stated extremely clearly they intend to begin the delisting process. There are no uncertain terms in how they worded it. Seven Arts could possibly get it un-halted, and they could possibly pass a review panel to not get SAPX delisted - the fact that those are possible do not mean that those are likely.
It's right there in the recent Form 8-K from NASDAQ for SAPX.
NASDAQ will probably disagree with investors that its "undervalued" status (which is certainly debatable) warrants it to remain on the exchange.
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