Well we had: BOSTON, MA -- (Marketwire) -- 11/24/10 -- Spencer Pharmaceutical Inc. (PINKSHEETS: SPPH) announced today that it is in the process of cancelling 36,000,000 shares, which had been previously issued, and the said shares will be returned to treasury.
So no buyout they will probably put the 36 mil shares back on the market in hope of more money.
That is a great catch. Golden glove. I did not go there but that is reasonable dilution to cover expenses (salaries) for class A owners in the company a while longer at these share prices. Good DD and idea.