"That is why 95% of them exit via m/a." The interesting thing about that claim, and what is not being touted, is that the 5% of companies that didn't exit via "m/a," were probably all STINKY PINKY companies trading on the unregulated pink sheets just like SNDY! Especially companies with almost a Billion shares in their O/S and 2.9 Billion shares in their A/S, have Four Reverse Splits to their discredit, and are obviously addicted to Toxic Dilution and Reverse Splits.