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The 1st sentence is "Sports Teams Awaiting Spongetech Audit" clearly different. But let me ask you a question because I know you have common sense:
If you handled advertising space and there was more supply than demand and you desperatly cut deals with an agressive negotiator because you were losing money by the day. Times where scary and economy EXTREMELY unstable so you dump the ad space for .20 cents on the dollar with a clause for either party to cancel after first year.
Then the Economy seemingly pics up (enough to at least double the value of the ad space)... what would you do?
No brainer. Ax the .20 cents on the dollar and sign a .40 or .60 (or more)
I can not see that being any other situation. The news was clevery slipped into an article involving a wounded fish.
I could be wrong... but I dont think I am
Waz the Dicon aquisition factored into the "scam" also. That would make it look really good buying out a company that posseses the patents to some of your technology. You really believe this was part of the master plan scam??? Seriously?
Thanks. The sidelines at this point is a great place to be.
I agree tex. in that light they have 3 trading dayz to get er done.
My guess is that we will see a pr tomorrow (maybe a K)
one has been canceled and it was not even clear as to why
right back atcha
then they will only have 1,999,999,993 to go
Your theory is no more or less plausble than mine. The only difference is that I am not telling you what to think or what to get out of your mind.
Cant wait to find out who is closer to reality.
That 10 bucks is just to get nakeds covered. Should settle down after a billion or two shares trade
Agreed. That is what they are investigating. the question is why?
The answer to that question is what brings in those groups
depending on the way it is written... if it goes to litigation without settlement (wich would be likely) then it could be a 55/45 split. The attorneys only have to get it going. Its a lottery ticket for them. If the company did turn out to be a scam then they are the ticket holders and become the firm handling the suit.
NO?
correct. It is HOW they recieved that information that could very well be the link to the short list I gave you at your request. You wanted to see mine... well there it is
It took me this long to figure your postition and I believe you are genuine in your thinking.
I will ad however, that if a 10K comes out that clears up the bologna, and the sec carries on an investigation, this will not prevent them from re-uplisting to the OTCBB (or NASDAQ for the matter) I have spoken to the sec regarding that very issue and the clearly stated that after the suspension they dump the burden back to the MM's. That does not necessarily end the investigation.
Example: The books turn out be be fine or at least close enough to be a non-issue regarding the investigation but while in the process the SEC learned of a Naked short position that needs addressing
Yes I have. I believe this company has to be elusive but I believe they would like to be transparent.
I do not believe that "the post embarrassed the SEC into doing thier job" those are your words. I believe that they may have "alerted" them for use of a better term, into avoiding another embarrasing situation. I also for the record, do not believe that SPNG management even gave the post a list of venders.
OK.. since you asked so politely:
Hedgefund managers
market makers
NS positions
short positions
That about sums it up
I really do not understand what you are trying to ask me here.
Possible means the reason? in what dictionary?
and let me be CLEAR for you
They use the term "possible" because they had not investigated yet.
If the investigation was complete, then they would know if fraud was present.
Hope that clears it up for ya
That is your inturpretation of the "other people"
I have a different one!
(you wrote)
yes "other people" involved in Spongetech in any manner .. the investigation is
about Spongetech and all the people involved
friends
family
employees
suppliers
middle men
promo companies
and on and on and on
no one is safe
YES... Possible. It is worded that way for a reason. The words of these documents matter more than any of the words on here.
By the way... that is not the reason why they said possible. They used the term possible because it WAS NOT investigated yet
I even agree with that statement. Wishing tht is not how anyone should want to see a company succeed
You may want to read (in detail) those suspension reasons once again. They have been written to cater to your point
Or, Maybe the SEC suspension became eminent because the post brought to the attention of the SEC a potential embarrasing issue that the SEC needed to extinguish before it got out of hand. I have my theories... you have yours
May the honest people rise to the top
The dream of subpennies is very much equal to the dream of dollars to many. But as a matter of fact, I read more about the subpenny "dream" then the dollar dream but that just makes sense if the phamtom float is 4 times that of the real float.
Reality is on its way
minus the RS... all due to the inability to file timely due to past auditor
A joke right?
I believe that he is looking for is fact that the companies do not exist which IS verifiable. Regardless of that, if the sales exist then they exist. Soon to be exposed. The SEC does not care where sales come from. They are looking for much different things then who these companies are... they are looking for things like how the company was able to purchase the entire float while a billion shares are under trade suspension
hmmmmm
Notice the minimum order. For those who think this site is fake... thier is live webchat available
http://china-glory.en.alibaba.com/product/242466725-200654594/Car_Sponge_Kit_Wash_and_wax_sponge_Car_wash_kit_3_pack_.html
Hasher, I do respect much of your opposition as it is not mindless like much of the opposition on this board, but many continue to compare this to CMKX (which I believe you and Janice shell are moderators to that board) but this is not CMKX. This company could be a scam yes, but to consider it a scam due to its similar charactoristics of another company is simply once bitten twice shy thinking. For one to write off the potential of the company emerging from this is as closed minded as one writing off the potential of its near future demise.
As a betting man... I see the odds of a successful long term as much greater than its demise. No 10K next week and the odds drob drastically
fk9p, I have thought about that question and the best answer I come up with is the following:
Spongetech admittedly has a large, known, unexposed NS position. If they have a plan to ambush the issue it is best to not give coordinants. Any information in the wrong hands can be detrimental to the results
In over 100,000 stores by the end of summer?
Boxing, Hockey, Football, Baseball, Tennis, Nascar, Arca, NHRA, IRL, Soccer, Basketball... what next ... Olympics?
SPONGE BOB?, PINK PANTHER?, DORA THE EXPLORA?, 250 to 300 squeezes of soap filled fun?
Dicon... cash deal?, Medial, kitchen, household, Pets, auto, Suntanning products??
Walgreens, CVS, Ace hardware, Petco, Costco, petsmart,jewel-osco,Kroger, Sears, HSN, Company Website, Amazon???????
12-15 Patents? Patended packaging?
North America,South America, Eastern Europe, Southeast Asia, Mid East, Eastern Asia, Western Europe, Hong Kong????
Yeah.... what a scam!
300mm in orders for py 2010?
Open your eyes people. Its much easier to believe that a Aditing firm gone bad can cause the issues at hand than some elaborate ponze scheme.
Billions of excited NS positions excited because if sp fails not only can they cover... they make a few bucks?
Anyone really curious as to why the feverish neg posting? the premature staging of a class action?
The lightswitch soon to be turned on.
I am unclear as to why my post was used tho make your point here but I shall respond anyway. I have also noticed that my posts have been targeted simply because I take an optimistic stance regarding the future of the shareprice. I have been accused of being a sleep, being angry, in the clouds just to name a few. The FACT is that none of it is true and I probably have it more together then all of my accusers.
I have not accused anyone of "forcing" to sign into a CA suit and as a matter of fact, if you research my prior posts you will see cleary that I admitted to joining the band wagon myself if I am uncomfortable with the results of next weeks deadlines.
What I did state clearly is that the law suit at this time is premature, frivolous, and based on mere alegations. I will say this because it is my opinion which I have the right to freely express.
I could CARE LESS who "signs up" or not. It is not my business nor do I have anything to gain or lose from it. I am looking in windows at this point and OH WHAT I SEE!
in regards to your statement: "no one here should be advising people to sign up or not sign up .. for the lawsuit" I happen to agree with you. Furthermore, advise should not be given at all from anyone on this board including you but it happens everyday and it is NOT monitored.
It is the posters that intentially mislead that I resent the most. If one is speculationg it should be made clear. I have read your posts and you are guilty of this practice. Again I must assume that posters who do this have an agenda which involves the failure of the shareprice performance and or the comapany itself.
OK... Lets try this:
We ALL know that the company made effort to file the annual and while is was a late attempt.... we all also know the prior auditing firm had cost them the oppotunity to do so. 8ks are official and posted publically for all to see. A domino effect has caused the problems which have occured up until now and minus the tardy 10K, the company has not been proven to be operating outside of legal guidelines. Start digging to prove that as non-factual
While you read the posts to get you information others read the facts. Is reading posts your idea of duedilly?
at this point and with the facts that are presented I agree with phrantic
frivolous, air,premature
A law suit will still be around next week in the unlikely event you are right but I like to weigh facts and the facts are not in.
This comment is another example of unvalidated claim. The breeding of premature hating without facts being presented. If you have facts then by all means show them. If not then show your desperate words as speculation.
(your post)
There is absolutely no chance whatsoever that SPNG will "emerge" from this situation on the 16th. SPNG's problems are far deeper than that.
Thanks for the laugh general
It was speculation then and it is speculation now. The difference is that back then the "know it alls" where few and far between.
What you are doing is creating premature hype and for what purpose? The CA is not going anywhere and you gain nothing by joining before you see the comapny financials.
By reading your post I can see you are obviously very emotional and passionate about this issue. The big clue was that you are telling me what to do and making claims that you can not back. This tells me that you have an interest in the failure of this company and your denying it will not change my opinion of that.
(your statement)
"I feel bad for you truely, you need to wake up and face reality of the situation"
I am not sure why you would feel bad for me (and I am very much awake) because if your position get crushed I will not feel bad for you at all.
Regarding your statement:
"This company WILL NEVER uplist on the NAS, lol seriously man it just got put back to pinks! get real!"
I do not know why you are making this statement as I have made no mention of this. But since you brought it up, I have this to say about that.... "never" is a long time. I will not try to explain to you the concept of spectulation but you may want to learn it because it is primarily what you are doing.
If they had good reason to be sued prior to the current situation then they would have been sued already - Perhaps back when the market cap was over 150mm.
If they have reason to be sued at this time then everyone would know it but they have until the 16th to emerge from this position.
Joining a CA at this time is potentially frivolous. You gain nothing by waiting until next week if you have an investment with this company.
Why is it so important to you for investors to join now?
It makes no scense