You stated:

"am inclined to agree with you. These guys are looking after themselves and their buddies very well. This announcement along with the Nitinat one are a joke for sure. What really concerns me on this one is the new date of spinout. I unloaded a few shares after April 16. If they push the date out to after that date I lose the value of the spinout after acting on the first announcement."

If I am understanding this correctly, there is no spin out. The shares are no longer ex-dividend and you shopuld actually be able to partake in the possible scenario you describe? What has changed?

If you have sold a position post record date April 16th (which does not exist anymore) you are looking at either being able to buy your original position back and pocketing the difference or increasing the position using the gains.

As it sits, this ISM share is the same ISM share it was back in March and early April. Am I correct?

You can bet that when this comes up next time its going to be locked and loaded. The next announcement if all the ducks are lined up should be a halt and essentially an announcement laying it all out and when. Very similar to what was announced with Exeter. *The shareholder vote is critical for progression IMHO

As an aside, I wondered what would happen to anyone who had chosen to go short on ISM with a record date coming and going while they held that short position? Doesn't that become complicated?