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I agree there is a scam but I doubt the company are the scam artists. The scammers know who they are and are RELENTLESS due to the mass amount of money involved.
I bought two 12 packs of Ivory Soap bars at Dollar General last week for the homeless in my area. Do you think that Ivory soap is on its way out?? My common sense tells me NO!... its as popular as ever and that dollar genral is just another revenue venue.
This attempt to undermine and or discredit the marketing efforts of SPNG is an "underachievment" if you ask me.
people can dream all they like - but, pike has been the primary buyer of spng ..
I humbly disagree. Although he is buying the biggest chunks and must report due to his prior beneficial ownership, there are still many buyers that are covering a bad bet IMO
he is the lead buyer in the PPS increase which helps fuel the fire for other buyers
WHEN he is buying... I agree with this statement. Many are making him out to be buying every day and it is obviously not the case. Even if the theory of him spending his days "wash trading" where true... the bottom line is a rise in PPS and if one thinks that he is doing this so that he can dump a few hundred million shares into a pump that he created... well thats laughable don't cha think? He is going to need either an authentic increase in price based on data and facts, or a tender offer to realize from his investment.
there has been no positive news for the company in regards to the SEC wells notice and lawsuits
There has been no negative news either... lets call that one a draw
if it were not for pike the PPS would still be 3 cents or less.. if this keeps dragging on .. it will turn back down .. without positive news
A reasonable statement. Many (such as myself) view pike as a major source of positive news. In this economical climate it does not make sense to gamble with the kind of dough he has been putting on the line.
I don't care what anyone says - you can not trust the grey market and the trading numbers - they are easily manipulated by outside forces because of the way the trading is handled
Perhaps you know more about this than I. One thing I am sure of is how easily manipulated by outside forces on the pinks and the OTCBB
an occasional penny stock web site will pump the stock with PR's because they may have taken a position in the stock .. that's the extent of the promos going on in spng
and its just my O too..
Everyone has a right to their opinion. Mine is that these guys will emerge from this mess with the SEC with minimal scaring. I also suspect that this company will be sold very soon.
If you think that Pike is the only buyer then I recommend you take another course in general arithmetic. I understand that the basic task of discrediting this company is becoming increasingly difficult, but I am sure you can search in areas that do not involve the "Pike to buy" ratio and find something more credible.
Here is a simple exercise:
ADD - All trades since January 1st 2010
Subtract - 22,000,000 (approximate Pikes purchases for 2010)
Divide - 22,000,000 into that number
you will have the percentage of shares traded by Pike
My guess without actually doing the math is that he has purchased 6% to 8% of what has been traded. I may be off but its a rough guess and could be LOWER.
HOW DOES THIS QUALIFY AS PIKE BEING THE ONLY BUYER????????
I seen many 5's today with the LOW being .04. Despite all of the trash and unsubstantiated claims spewed about this company you can not deny that people who bought this stock 2 weeks ago could have (and some probably did) double there investment. 100% return in 2 weeks?
we were seeing .02 to .025 in feb and .04 - .05 in March. I expect it will double again...and again... and again... and again... and if were lucky... again and if we are really lucky... ad another "again"
What we just went thru was the easiest double but be on the look out for more.
I hate to burst your bubble patch but sponge SP is about to explode to all time high levels. I know that many out there do not want to here that but IMO we are in for a surprise and the negativity in sponge will be gone.
The truth is on its way. The money this company is generating is beyond even their own expectations
I'd love to argue it with you but unfortunately this is my last post
The only thing sinking after this boat leaves is the shorts that have not covered. This is obviously comming to a conclusion and I have already seen MANY surprised at the recent levels and activity.
Lets not forget the crap I have been reading about where this stock would be by now.
This happened and is still happening. Can we trust what they are doing about it?
I think so
Management believes that our stock has been influenced by the illegal practice of "naked short selling". These people, or entities, are trying to undermine the shareholders' confidence in our Company, trying to induce you to sell your stock, and, in simple terms, hoping that if you do they will be able to buy back their short position sale at a significantly lower price. They use detailed and complicated systems, and even sell from overseas through other exchanges, to sell nonexistent shares all day long trying to create a disparity between legitimate buy and sell orders.
These unscrupulous entities strategize to create stock price erosion in an effort to try to force us to continue to dilute the Company to raise funds. As you know, we have invested significant money into our Company and hold a large position in stock that is not registered and cannot be sold.
Just because you hope this will happen does not make it so.
If I recall correctly ... you thought of yesterday as the beginning of "low" to no volume due to a slow start and as it turns out... SPNG made its very first turn toward value since October. That is a great example of how easy it is to spread fear doubt and uncertainty... How easy it is to be wrong and how difficult it is for anyone to admit it.
not with common stock .. they can R/S him to the one end of the earth to the other @ 360 degree R/S lol
Your opinion always holds some entertainment value but is imcorrect. Pike was not the only player in the game yesterday and if you pay attention to the details throughout the day you would have known that others where paying .04 and .045 for some good size chunks. Stop and ask yourself who these players are. Pike spent a little over $500,000 over the past three sessions but almost two million was purchased.
It appears to me and anyone with a half of a brain that you are struggling to maintain a statement that the "longs" have lost 80% of their investment.
The statement is general and applies to very few left here. You have now idea who lost what. Remember what the SP was less then 1 year ago and you might start to understand the definition of long.
Many here are still way above their initial investment
Shall I dignify that ridicules statement with a response?
I smell fear
spongedigger, when you use a term such as "longs" as a reference point you really should use one that has more credibility than a group of people that haved lost about 80% of their investment.
hmmmm... all in the same hour. Interesting perspective
Is that the best you've got?
Looks like cash strapped desperate insiders are dumping IMHO...heavy duty lawyers cost big money...volume spike but still closed red kinda says it all...
We won't until they file. If they had 66MM as of the last 4 filings then we might see some strange volume over the next 7 trading sessions. For all we know... todays volume could be an RME buyback.
The question I can't get past is who in their right mind would sell at this point?
The longs who believe the board "advisors" have already dumped. The longs who would never buy the bull on the boards would not sell all of a sudden unless something leaked out.
This will be a very captivating two weeks. I have to assume we will see a filing of some sort by tueday of next week.
In July 2008, RM Enterprises International, Inc., a company that is our majority stockholder and which is controlled by our officers and directors, agreed to grant the Company the right, exercisable by the Company at any time on or prior to February 28, 2010, to repurchase all or any portion of the 267,154,132 shares issued that RM Enterprises International, Inc. had purchased from the Company since January 1, 2008 at the original price paid by RM Enterprises International, Inc. to the Company for such shares, or an aggregate of $4,918,432.46 for all of such shares.
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