Ann: Ceasing to be a substantial holder, page-5

They unloaded just over one million shares in the last week. They still have approx 20m shares.Selling at these low prices seems to indicate that they will be happy to unload the lot.

If they have decided to gradually unload all 20m shares then maybe they will unload approx 1m per week for the next 20 weeks, or maybe unload faster if the SP goes up, or maybe pull the SP down into the gutter just to get a few cents on the dollar if they think that the SP is going to go down anyway. There is no way to know what they will do, and this is one of the risks of holding this stock.

Some of the fantasies here are laughable. It seems unlikely that their plan is to buy in at a lower price at the next CR, because the SP is now so low that any CR would be doomed. For a start, a CR now would have to at least double the number of shares on issue. The dilution would be extreme. Also, any CR would be an actual admission that SPL does not expect to become profitable any time soon, an admission that SPL expects to happily carry on with it's same modus operandi unchanged. A recipe for success? Unless SPL can demonstrate that it has the ability to monetise its products then why would anybody want millions more SPL shares?

Fortunately for SPL, it has enough cash to keep it afloat for two or three years, so why would they even be considering a CR?

This stock can only fall another 17 cents before it becomes completely worthless. Remember that two years ago, SPL sometimes fell 40 cents in one month, so what's 17 cents. It's no wonder that some players are bailing out while they still can.

In my opinion SPL is a high risk gamble. I am holding because I am gambling that SPL will eventually get something right that the market likes. I will be happy to see objective reasons to continue holding because any good reasons reduce the risk.