 Under Levin, the company's stock price had fallen from about $40 three years prior to about 23 cents (a "paltry" $3.6 million market capitalization) at the time of his departure, on the over-the-counter pink sheets.On February 8, 2008, directly before he announced the Sharper Image bankruptcy filing, JWL Partners Acquisition Corp., a SPAC, or special purpose acquisition company, submitted an IPO filing.The filing showed $200 million proceeds targeted.