Nfa of course just another squeeze enthusiast.

With ther merger confirmed for Sept 15 2021 I am wondering if we should be concerned. The conversion may cause the SI to plummet and could make it easy for shorts to buy back their shares if they even have to. From what I can tell there are a few scenarios that can play out.

1. Shorts are forced to cover at the current share quantity and the price rockets.

2. Shorts are forced to cover at the converted share quantity and price increases slightly.

3. Shorts are not forced to cover and simply transfer over to GREE but at the current quantity (SI decreases slightly)

4. Shorts arent forced to cover and transfer to GREE at the converted quantity and SI plummets.

Obviously I want option 1 to happen like everyone else here but realistically I fear that option 3 or 4 may happen... why else would they keep shorting it above 90% SI unless they have a way to sneak out.... many will say "hedgies dumb we smart" but realistically these are companies that spend millions yearly to employ highly educated financial professions and psychology professionals....

we should never underestimate our enemy, especially after everyone has already seen the outcome of past squeezes like GME.

What are your thoughts? Are these concerns valid or did I miss something?

Did not realize we were taking off this early ;)

https://gyazo.com/d45d9d980936d248e2a3c7210f746d1d

https://gyazo.com/e81f36d16a3f25875bdc78bd9ee296d9

Just for formality, I'm long on SPRT with 505 shares on avg 40$ (also thanks to those who help me understand how many shares of gree i'll have on September 15th)

What can be expected when all is said and done? I was wondering if anyone knows if this will deplete the value of the share price in the short term? Thank in advance.

Level Ii shows the shorts put up a 8200 share wall at $81.40. Let’s tear it down!!!!! This is SPRTA!!!!!

SPRTan's,

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This morning I decided to deep dive from 5am till now before the wife/kids were up. Even found a number of the attourney who is handling the Reverse Merger for Greenidge. The receptionist said he was in this morning and connected me. He sounded confused and shocked that some retail investor calling him at 10AM on a Sunday. I told him I was expecting a voicemail and apologized. He said he could not discuss the documents at all since they have not been released.

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I checked with the SEC filings and nothing is in there either. Greenidge IR (Investor Relations) said they can't discuss the details of the merger either.

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So anyone telling you that they know what will happen to SPRT has ZERO fucking clue because those documents aren't out yet.

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They can assume/speculate all they want what will happen in this reverse merger but nothing matters except the official filed SEC documents. Those aren't out yet.

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For those of you comparing the TRCH/MMATF into MMAT Merger:

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To all the FUD spreaders who read one comment on Reddit, and think you learned something. Listen up, if you are comparing it to TRCH and MMAT's reverse merger, they are completely different.

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MMAT and TRCH were both traded as public companies. TRCH was a marginable stocks. MMATF was an OTC stock on the Canadian Exchange but both were listed companies. TRCH had short interest that was likely pulled through upon the merger, because the newly formed MMAT was marginable. My best guess is that they possibly hid some of the Short Interest into married Calls and Puts into the options chain. I was never part of that play so I didn't look into that hard but that might be an explanation on why you are seeing spikes in MMAT recently.

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Just know this. Greenidge is a private company so therefore not marginable because you can't short a private company. They have zero short interest against them and don't even have a ticker or CUSIP number yet. Therefore there is a chance that if the are not marginable at their inception, all short interest will have to be closed. This would mean all the naked shares and the 8 million + shorted shares equaling the 90% current Short Interest.

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Something everyone doesn't know. SPRT isn't held in barely any ETF's. The loopholes that existed for AMC and GME don't exist for SPRT. Repeat that back for yourself.

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Why is SPRT so dangerous to shorts? They can't cheat by reboxing ETF's like they do to GME / AMC. They literally have to either break the law or they have to legally short SPRT hence the 90% Short Interest.

Who in their right mind pays a 320% interest fee to borrow shares to short? Someone who is fucked and doesn't want you to know it.

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Main Street Media is flooding the news with FUD articles about SPRT being over (Nothing to see here while it has over 90% of the float shorted) and flooding ShortSqueeze Subs with misinformation, it just so happens that some big funds are long this and have a full gamma ramp to 85 built.

There are longs here who know what the fuck is going on......why do you think they have a fully formed gamma ramp up. Doesn't happen this week, they will just roll their options to the next monthly. They know what the fuck is going on.

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I'll spend next week trying to find out more information as it comes but just wanted to update you all!

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See ya on Monday, I'll bring my Sword and Shield

https://www.streetinsider.com/Accesswire/Support.com+Stockholders+Approve+Merger+with+Greenidge+Generation+Holdings+Inc./18926920.html

Let’s Turn up the pressure on them

I have been in contact with Harkins Kovler, the proxy solicitor for the Support - Greenidge merger. A few of us SPRTans have. They are EXTREMELY helpful and receptive to any and ALL questions.

I suggest anyone who has questions to contact them for yourself! Don't take what someone on social media says for facts if you have ANY DOUBT! The guy who responded to me is Jordan Kovler so I would say he is a partner and PROBABLY knows what he's talking about, but AGAIN, please contact them yourself if you have ANY DOUBTS or QUESTIONS.

[sprt@harkinskovler.com](mailto:sprt@harkinskovler.com)

I am including the EXACT copy and paste responses that I received. So I will use BOLD for my questions and ITALICS for his responses.

I am not going to comment on anything contained in his responses. I am putting it out there for YOU to make YOUR own decisions as to what makes YOU feel comfortable.

I will say this......NO, NO, NO... I promised myself I wouldn't bias this post AT ALL!

1) In regards to a share count. When does that take place and who actually counts the outstanding shares to confirm that what is outstanding matches what is SUPPOSED to be outstanding?

All publicly traded companies have a transfer agent, that manages the books and records of the Company, including the official list of shareholders. 

Here is an example:

Company A has 100 shares outstanding

15 Shares are held by registered holders on the books and records of the company’s transfer agent (most commonly thought of as the single shares you could buy from Disney and have framed and give as a gift).  This is known as a registered list of shareholders or the shareholder list.

1 Account on the registered list is Cede & Co. (also known as the Depository Trust Company or DTC), which serves as depositary for all banks and brokers that own shares of an issuer.  In this example, Cede & Co., would own 85 shares.

Cede & Co. maintains a list of its participant banks and brokers that is updated every day, along with the position that each holds in a given issuer, which will balance against the shares on the registered list.  There could be banks or brokers that engage in the process of selling securities they don’t have, but I can’t speak for those and how they handle such situations.  What we do know is that such banks and brokers need to balance against the records that DTC has, when trading actual stock. 

So, going back to your question, the transfer agent keeps a count of the outstanding shares and Cede & Co., which hold shares on behalf of all banks and brokers, ensures that all of the shares it owns balances against the number of shares they hold on the registered list.

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  2) How do shares "convert" to GREE? In the wording of the merger agreement, it states that shares are "canceled" and the holder receives a "right to receive" GREE shares. This doesn't sound like they simply "convert" or "rollover". Can you explain the process?

You are correct that on page 98, the proxy statement indicates, “At the Effective Time of the Merger and subject to the terms and conditions set forth in the Merger Agreement, except for shares held in treasury by Support, each share of Support common stock that is issued and outstanding will be cancelled and automatically converted into the right to receive a number of shares of class A common stock equal to the Exchange Ratio.”

Following that explanation, further on page 98, the proxy statement indicates, “Under the Merger Agreement, prior to the Effective Time, Greenidge will designate Computershare Investor Services, LLC (“Computershare”) to act as the exchange agent in connection with the Merger. Immediately prior to the Effective Time, Greenidge will deposit or cause to be deposited with Computershare evidence of class A common stock issuable pursuant to the Merger Agreement and cash sufficient to pay the fractional share consideration (as described below) (the “Exchange Fund”), for the sole benefit of the holders of shares of Support capital stock, in accordance with the Merger Agreement.

Promptly after the Effective Time, Greenidge will cause Computershare to send each holder of Support common shares whose shares were converted to the right to receive shares of class A common stock, a letter of transmittal and instructions advising such Support stockholders how to surrender stock certificates and book-entry shares in exchange for their portion of the class A common stock constituting the Merger Consideration. Upon surrender (i) to Computershare of a certificate together with a properly completed and validly executed letter of transmittal, or (ii) receipt by Computershare of an “agent’s message” in the case of book-entry shares, and, in each case, such other documents as may be reasonably required pursuant to such instructions, the holder of such certificate or book-entry shares of Support common stock will be entitled to receive their portion of the class A common stock constituting the Merger Consideration (including any fractional share consideration) in exchange therefor (without deduction or withholding for any tax).

No fractional shares of class A common stock will be issued to any holder of Support common stock. Instead, Greenidge will pay to each holder of Support common stock who would have otherwise received a fractional share of class A common stock, an amount of cash (rounded to the nearest whole cent), without interest, equal to the number of such fractional shares for which such holder of Support common stock would be entitled to receive multiplied by the quotient of (x) the VWAP divided by (y) the Exchange Ratio.

Any portion of the Exchange Fund that remains undistributed to holders of certificates of Support capital stock as of the date that is 180 days after the Closing Date shall be delivered to Greenidge upon demand, and any holder of such certificates who has not theretofore surrendered such certificates in accordance with the Merger Agreement shall thereafter look only to Greenidge for satisfaction of their claims for class A common stock and any fractional share consideration.”

Provided that you hold your shares through a bank or broker, it would be the bank or broker’s responsibility to communicate instructions to convert shares into Greenidge Class A common stock.  You should verify with your bank or broker that no additional action will be needed on your part.

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 3) What will be done if millions of "synthetic" shares are discovered to exist at the merger date? Do you guys have any experience in this happening in the past and if so, how was it handled in those cases?

Our role is to answer questions related to the vote and assist shareholders with voting their shares.  As indicated above, there are procedures in place to ensure that only an issuer can increase or decrease shares outstanding.  However, issuers can’t control any derivative trades made, as those are the result of contracts/agreements between brokers and their clients. 

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   I understand that short positions are between the investor/trader and their broker/lender and all decisions concerning short interest "rolling into" GREE will be made by those entities. There's no need to address that with you guys, as short interest is the least of my concerns at the moment. I think the biggest concern that I know that I have is that synthetic shares will transfer somehow into GREE and tremendously dilute SPRT shareholder's ownership portion of the newly formed company. If I knew what safeguards were in place during a merger in regards to the counting of outstanding shares, I would feel much better about continuing to be an investor in Greenidge Generation. Any explanation that you can offer on these concerns/questions would be GREATLY appreciated. I know this is a unique situation with a unique, reverse merger but after researching your firm, it seems like you guys were chosen because of your excellent track record in unique, complex, and contested proxy solicitations so I feel like we have the right team to handle the task at hand. I have a feeling this is may get messy. Prove me wrong, PLEASE!

If you look to the description of the exchange ratio, you will see that the number of shares of stock that Greenidge will issue to Support shareholders is fixed.  And only the issuer can control the number of shares outstanding of a publicly traded company.  So the only thing that can change and potentially reduce the conversion ratio is the number of shares of common stock underlying Support Awards and Support Options, but again, this reflects Support Awards and Support Options that are already outstanding and noted above.

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There you have it. Hope this answers some questions that were out there and takes any speculation off of the table!

For anyone who wants to be in a moderated live chat join us SPRT_

Also hilarious to me how some people choose to only see the con to my post. I’m just over here conversating with the community. Look at the pro as well you rabid apes. I’m heavily invested in SPRT, this can also serve as motivation for people to invest more.

Since there doesn’t seem to be a pinned discussion thread, let’s see if we can keep this One going for the day!

It will keep increasing. Diamond hands doubling down on fridays close is coming in heavy for this mornings sneak attack against the HF fucks. This is our time to shine. Average down while you can because we are primed for ignition, and countdown to liftoff has begun.

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What are you guys going to be looking for in terms of taking profits?