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Hi, MC. Good to see you here.
Do you think this could apply to Spooz at the moment, as the audit is complete, and we are expecting papers to be filed with the SEC?
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Quiet Period
The federal securities laws do not define the term "quiet period," which is also referred to as the "waiting period." However, historically, a quiet period extended from the time a company files a registration statement with the SEC until SEC staff declared the registration statement "effective." During that period, the federal securities laws limited what information a company and related parties can release to the public.
http://www.sec.gov/answers/quiet.htm
So, Allie, at this point there is no regulatory reason to prevent 141 Capital from trading its own funds for its own profit?
TIA!
Songbird
I would think that it is highly likely that Spooz will be filing the forms required by the SEC to uplist. Why wouldn't they - after the time and expense they have invested in the audit?
I agree, MC. If Spooz was out to scam people, why go through the time and expense to carry out an audit, especially when the results of the audit are not all that flattering?
To me, this step (the audit) looks like the efforts of a company that is trying to take the steps necessary to become a legitimate player in its industry.
IMO, this is one more piece of evidence that Spooz is trying hard to do what it needs to do to be successful.
Best,
Songbird
Hi, Mtncabin. I agree, Q1 2008 financials will be more interesting. I think somewhere in one of the disclosures it states that quarterly reports will be given within 45 days after the end of the quarter. So that could be any time.
I think the information in the AFs is pretty much what has been in the previous disclosure documents. Not much new information to many here.
The fact that the finances have actually been audited is more significant at this point, IMO.
Audited Financials are now posted on the Spooz web site:
http://www.spooz.com/pdf/AuditedFinancials.pdf
I think I just discovered that the chart that appears on the main discussion page is in real-time (when you hide the I-box). This is a new feature on Ihub. The quote seems to be delayed. Kind of surprised, because usually free web sites don't provide real-time data.
FWIW
Thanks, Phillymike. Same as yesterday.
Do we know if 141 is actually trading its own capital at this point? I know there have been assumptions that this is the case, but I don't think we have had any confirmation of the fact from the company. TIA if anyone has an answer!
MC,
Found out about Spooz on another board over 2 years ago - found the Ihub board later.
Songbird
Still here, Allie. Do you know any more about the timing of the shareholders's meeting?
TIA
Hi, Seeker. IMO, your second scenario makes sense. Those buys in the .002s-.003s did not look like painting.
YW, EBI. By the way, nice find!
Yes. York is a historic city - very interesting place. It is a very popular tourist destination. It has a lot of ancient buildings including a magnificent cathedral (York Minster). Also has a University.
According to Wikipedia:
"York's economy has been developing in the areas of science, technology and the creative industries with the creation of a science park near University of York and the city becoming a founding National Science City. Between 1998 and 2008 York has gained 80 new technology companies and 2,800 new jobs in the sector."
Thanks, MC. I think the lack of information is what is causing most of the pessimism and impatience among shareholders. There may be strategic reasons for this, and we simply have to wait for news. We know that Q1 financials should be here within weeks. Those should tell us something.
The company has certainly not folded up. Call the numbers on the Spooz site. The toll free number will send you to tech support, the other will get you to the administrative office.
Certainly unusual action, MC. IMO, the most alarming piece of information this week was the "gagged transfer agent" rumor, which proved to be untrue. Maybe that spooked some shareholders.
Maybe some people bailed on the downward momentum, and have taken new positions at a lower price.
Perhaps there were people on the sidelines, or with low bids today watching and waiting to see if there would be a further drop. As we held steady most of the day, and rose at the close, maybe there will be more people taking a position at a higher price next week. I did notice that the bid upticked at the end of the day before the closing buys came in at 0.0012.
I guess time will tell.
A high volume day.
SPZI - SPOOZ INC (OTC) 4/11/2008 3:55 PM
Last 0.0012 Open 0.0010 Volume 74,621,927
Change
0.0002 20.00%
High 0.0017 Last Volume 200,000
Bid N/A Low 0.0009 Up Volume [?] 19,296,971
Ask N/A VWAP 0.0012 Neutral Volume [?] 25,479,510
Previous Close 0.0010 Trades 78 Down Volume [?] 29,845,446
Average Trade Size 956,691
Hi, Allie. Could you explain what a toxic loan is?
TIA
Approx 15,000,000 increase from what was reported on April 9th. (see post # 46957)
Thanks, Mike. That is the way I had thought Spooz's dilution had been working. Not sure what the discount rate was, though.
Thanks for the response, Mullimatt. I am surprised that shares would be sold only at 'par' value. Is there any reason to suppose that this is the case with Spooz?
Hi, Gmenfan. From what I have been able to gather, dilution does not consist in Spooz sitting there hour after hour deciding when and at what price to sell shares into the market
My understanding is that they sell shares at an agreed upon (discounted) price to a third party, and it is that third party or parties who then decide how and when to sell. Spooz gets their funds, and the third parties make the selling decisions.
Please correct me, anyone, if I am under a false impression here.
I agree - revenues are needed at this point. And I understand they are coming in, just don't know how much yet.
Thanks very much, I appreciate the information. Nice to put a rumor to rest.
Thanks, Critter. When was the last time you contacted them?
If Spooz follows its previous pattern of quarterly releases, probably sometime in May.
I think we will need to wait until Q1 financials are reported before we learn about Spooz revenues.
I have sometimes wondered, what if one broker recognized the value of SpoozToolz and other Spooz products and were willing to pay top dollar for it. If the price was right, do you think Paul would sell?
I am not saying this will happen, but the idea has occurred to me.
Good to hear, MC. His experience will be very valuable for the company as they pursue market penetration in the options trading industry.
Speaking of the options market, here is an interesting article:
The Options Industry Council Announces March Options Trading
Grew 23% Over Same Period Last Year
Tuesday, April 01, 2008; The Options Industry Council (OIC) announced today that total options trading volume in March reached 282,000,233 contracts, a 23.36 percent increase over the year-ago level of 228,595,638 contracts.
Total options daily trading volume for 2008 is averaging 14,100,012 contracts, a 35.7 percent increase over the 10,390,711 contracts averaged for the same period in 2007. Year-to-date total options volume is up 44.99 percent over the same point in 2007 with 14,484,970 contracts.
OIC also reported that equity options volume increased 28.17 percent over the same period last year with 259,432,073 contracts trading in March 2008 compared with 202,416,837 contracts trading in March 2007. Year-to-date equity options volume is up 47.55 percent over the same point in 2007 with 13,328,234 contracts. Average daily equity options volume is 12,971,604 contracts, up 40.98 percent over the same period last year.
A new top 10 volume day was achieved on March 19 for both total options and equity options. A total 21,486,464 contracts were traded, making this the sixth highest volume day and 19,747,790 equity options contracts were traded, making this the seventh highest volume day for equity options.
http://www.tradingmarkets.com/.site/news/Stock%20News/1289153/
Thanks for the post, MC. You have added a new acronym to my vocabulary! I looked up CBOE and learned it stands for Chicago Board Options Exchange.
So Spooz is interested in the CBOE - I hope that the CBOE is interested in Spooz!
Thanks for pointing that out, Allie. TVA looks like an active IR firm:
"TVA is unique in that not only can we produce (from script to screen) highly effective promotional media such as TV spots, infomercials, documercials, SMTs, corporate videos, DVD, internet streaming videos -- we can also create or repurpose your ads into AP style News Features for over 20,000 TV, Radio and Print media outlets."
Maybe they will be used by Spooz also. I am looking forward to see an active Spooz marketing campaign.
Sometime in May, if Spooz follows its usual pattern, we should be getting Q1 financials.
Paul said in the last email to Mtcabin that the auditors had left Spooz HQ and were "in the process of doing what they do". Not sure what all is involved in the process, but apparently the timing of things relating to an uplist are out of Spooz's hands now.
Thanks for that assessment, MC.
If Spooz has agreements with retail brokers, I doubt we will hear about them until the retail release.
Such as uplisting? It appears that Spooz has done all they can do as far getting their books in order. As far as I can tell they now have to wait on the auditors and SEC.
Thanks very much, MC. That does make sense. It also explains why, if SpoozToolz and other Spooz products are performing very well, that the word is not spreading. If Spooz software is giving trading companies a competitive advantage, they will not be inclined to tell their competitors about it.
It does however make it difficult for outsiders to get a picture of what is going on - perhaps a reason for the low pps at the moment.
I appreciate your input here very much, MC.
Hi, MC. Are you saying that the trading houses which are using Spooz products are inclined to keep that information as secret as possible? And for that reason Spooz cannot name their customers?
Songbird