Inspiration Mining

Lost my info for login on Stockhouse so I am going to ask about a post (from SH by a victor) that related to my earlier question posted here.

My understanding is that ISM holds 53% of Nitinat shares, 13.4 million shares on the spin-off, and 750,000 shares that was bought in the equity offering by NZZ. Because of what is in my opinion a bizarre decision that the spinoff value should go to shareholder of record in July 2007 by way of special dividend, there is confusion as to just who gets the benefit of the spin-off, if it turns out to be of any value. My reading of ISM's note to the first quarter financial statement is they are not sure how this will proceed. At this time ISM owns the shares.

Is it normal for a company to issue a statement about a special dividend to shareholders and to date still not issued it and for there to be questions about who this pertains to? I have never heard of such a thing.

I have been invested in this company since the initial offering and you won't hear me say I am okay with writing off my investment loses.