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Thanks Mingy for all the hard work you do---I am certain you do not hear this enough. I am a long term share holder, but rarely post because of the negativity on this board. I hope you will continue with your DD because it does lift our spirits and we all need this at times. I have person marked you in the past and would double person mark you if I could. Thanks again and go SPNG.
Kgem
Thanks for your reply cowtown jay, I don't spend many hours on this board any more because of the negativity, but I do appreciate the reply. I did not realize at the time that you and others were discussing worst case senarios. I am a long term investor and the wait has been trying. When I logged on and read so many discussing this fall or possibly never for the resolution to this saga I just had to ask why.
My personal time frame for hearing something of major importance is the end of this month or the first part of March. I can't say that I am a big advocate of the NSS theory-although that would be welcome-but I do believe this stock is way undervalued. I also suspect that there could be a type of squeeze play with sponge. When the SEC issues are resolved, and I believe they will be, I suspect the financial strength of this company will propel the stock price far beyond the .285 range as investors jump on board the price appreciation band wagon. Stocks tend to overshoot in both directions on major news. The high limit on this company is anyones guess depending on how good the news may be and how much news is disseminated. We all know that much has been happening without the typical fanfare. Once the flood gates of news are opened, we could experience wave after wave of fantastic news that could make this investment extremely rewarding.
Although we all must be aware of the downside of this investment, I see no reason to dwell on the negatives. Yes, we could lose all of our investment. However, the potential upside is enormous. I for one am willing to risk my capital for a little while longer in the hope for a large payoff.
Kgem
Thanks loanranger, pantherj, and puppydotcom for attempting to clear up my confusion. The posts I was reading seemed to be saying that even if we clear up all the SEC issues we would still remain in limbo till October. I hope we have some closure by the end of this month or the first part of March so we can all just get on with our lives. I personally hope for the best with SPNG. They have an excellent product and the green technology that eliminates the need for plastic bottles has the ability to flurish if management can get their act together. Conversely, if we remain in this gray holding pattern throughout the spring, summer, and fall then I suspect the share price will continue to shrink to zero. The shareholder update letter is a great start, now we need to have some solid information about company finacials and share structure.
Kgem
Look guys, you have me confused. Are you saying that even after the sec investigation is settled we will not be moving back to the BB? Do we then continue trading on the gray market until October? Do we move up one notch to the pink sheets? Perhaps it is just me and my head is a little foggy because of the weather, but this conversation does not seem to answer any questions. Thanks in advance for your input.
Kgem
Thank you Dark Lady for your very reasonable post---I always enjoy hearing from you. Have you heard any rumors about a time line, or and specifics about possible charges? Long and stronge and still hoping for the best.
Kgem
Thank you stoxmagic for posting
If I am reading your post correctly, SPNG is making headway with the SEC and we should hear something from the company in the very near future. You state that (in your opinion) the charges against sponge are not of an earth shattering mode. With the investigation behind us, and sales soaring, share holders should be appropriately rewarded. IMO
Kgem
Thank you for responding StinkyJunk, and you are correct Spongebath was talking about a R/M as a way for SPNG to uplist. I find this whole line of thought interesting, but only if SPNG resolves all legal issues first.
Kgem
Vanity looking for an acquisition target ties in well with what Spongebath was writing recently. Not sure how this could happen unless/until SEC problems are resolved. Also, I would think the class actions would still follow us. Even a bigger question is whether shareholders would come out ahead with such a move.
Kgem
SpongeBath, how do you think the class action lawsuits would be resolved if we were to R/M with Vanity? Ofcourse, if the investigation only involves the self funding operation with RME then the class actions would probably disappear. I still find this idea interesting and worth pursuing.
Kgem
SpongeBath I am not sure how a merger between Vanity Holding and SpongeTech would solve our problems. If M&M are still under investigation, and RME is somehow part of the problem the SEC is looking at, how is it that the SEC would look kindly on such a deal? I don't claim to understand, so I am just saying that with my limited understanding such an arrangement might create more problems for SPNG. However, If SPNG clears up its SEC problems, then such a merger might make perfect sence. Interesting.
Kgem
desie I like your style and wish you well. I personally do not think SPNG is dead. I suspect that if M and M did something wrong then they will be punished, but the company will survive. I also suspect Pike knew what he was getting into when he made his investment. Remember, the 13D is also filed to indicate that a major investor is unhappy with current management and share price. My biggest concern is that Pike might decide to take over SPNG and then take it private. I have no reason to believe Pike would do this, but this would let NSS (if they exist) off the hook free of charge. Anyway, I don't think all is lost. Instead, this could be the beginning of major changes that could be benefical to SPNG shareholders.
Kgem
Excellent post spit432, and I agree. IMO
Hi DarkLady
Thank you for posting your take on our current situation. Do you have any idea when FINRA might finally allow SPNG to trade normally, return to BB status, or even submit a public response to shareholders? We like hearing from you DarkLady, so don't be a stranger.
Kgem
Thank you hasher for your help hasher---looks like the post may have been another false report. Joint officers/directors of SPNG and PARL sure did get my hopes up though.
Kgem
Thank you for responding Loanranger. I guess the post that SPNG and PARL were somehow jointly involved in each others company was just to good to be true. Disappointed, but still hanging in there long and strong.
Kgem
PARL and SPNG? I thought I read a post sometime this weekend showing SPNG officers and directors were also officers and directors of PARL. Could someone please post this message again? I attempted to find the message by combing back though the board posts but failed to find the topic. Thanks in advance for help.
Kgem
Stoxmagic are you saying you met with SM and you discussed new orders and new products? Wow! If I did not misunderstand, then this is indeed good news. Is there any possibility that a PR or a series of PRs might soon be forthcoming. Can you share any additional information? Is it likely that the problems at SPNG will be cleared up after the first of the new year?
Kgem
Hello people. I just discovered this board and thought I would stop by and post a shout out to all longs. I generally check the Agora message board to see if anything is happening with Lantis, but that board is typically quite. I have been long on Lantis since August of 2008 when Lantis was pushing .30 or more per share.
Although Lantis has gone quite since April, I suspect now might be the best time to start accumulating shares for the following reasons: 1)Lantis applied for uplisting to BB status from the pink sheets back in April and just recently recieved uplisting. 2)Lantis must apply for and recieve FDA approval for their Beta test units---this should not be a problem since this technology is light based and is already utilized in other medical applications. 3)Lantis must obtain funding. The finance portion of this puzzle might be the most difficult in the current lending environment, but considering how rapidly this technology is being adopted in other medical areas I would think this problem could be overcome. Hence, I am looking for news around the end of January to middle February on items two and three.
Kgem
In reply to no BS plz and OZZ: I assure you I did in fact purchase 115000 shares through Scottrade this morning. I attempted to purchase shares about a week and a half ago, also through Scottrade, and they would not fill my order at the low bid. Perhaps no BS Plz is correct, the 600,000 dollar fine may have changed the way they fill orders.
I enjoy reading your posts no BS plz, I do not normally post but I have read this board faithfully for nearly two years.
Kgem
CYRXorbust: I purchased 115000 shares today ranging in price from .04 to .044 through Scottrade. The limit order I placed was for .045 so all purchases came in under my limit price. I hope this helps.
Kgem
To Anvil:
I agree with you! Management owes share holders an explanation about what is driving share prices through the floor. If sales are going fine and profits are good and shares are really being taken off the market then what is the reason for this enormous loss of share holder value? I e-mailed management just prior to this post with the same questions. Unfortunately, the last time I asked such questions their only response was "the company is doing fine."