Hi,
I'm not sure I follow. You said "the price should at least be equal in theory." But, as you mentioned, there are a lot less shares of SPCHB outstanding, 10 million less. Does that mean 6 SPCHA share = 1 SPCHB share?
From what you said, I understand it doesn't. By liquidity you mean how easy it is to buy and sell shares at the same price, right?
So does this mean the 3/4 difference between SPCHA and SPCHB ($0.18 and $0.68) is due to people [61% insiders] trading [selling] a lot more SPCHA shares than SPCHB shares?
Accourding to Thomson Reuters, insiders own 61% or 7.32 million shares of SPCHA and 0 shares of SPCHB.
References:
http://moneycentral.msn.com/ownership?Symbol=SPCHA
http://moneycentral.msn.com/ownership?Symbol=SPCHb