Fantastic post. This is a major issue for me. There was a merger agreement filed in January with the secretary of state, and that is the only official evidence that this deal is even in the works. All fine and dandy, except for the fact that said agreement specified that closure or the merger was dependent upon a POST REVERSE SPLIT share transfer. The reverse split was suspiciously canceled however, which means that the one official indication that this merger is a potential reality is now null and void. No updated agreement has been filed and no evidence that this deal is being finalized exists beyond the PR. This could end well, don't get me wrong, but the fact of the matter is that as it stands, this all smells like shit...of the bull variety. Right now I am still concerned that SPLI is headed down the same path on which Dror's previous companies ultimately met their demise.
I'm just not buying this story right now. I need more.
I'll just flip the stock in the meantime, but for now this thing just isn't an investment worthy of its risk.
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