an educated man is unfit to be a slave
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
We are unable to determine an accurate P/E ratio at this time. If you read the 10Q, you will understand the company is having trouble obtaining a revolving credit facility. As a result, preferred shares and shares tied to future dates are going to be used as a source of funding for this company. As the exercise date approaches, dilution will be necessary for creditors to exercise their stock options.
The current ballooning of the A/S the past few months is no surprise to a growing company which is spending more then your average retailer on advertising. This is one reason this is a publicly-traded company, to obtain financing through the open market because they are unable to get a credit line at this time.
As a result, the current P/E ratio as well as the future is very hard to determine since the transfer agent is gagged and we are unsure when the new shares locked up are set to enter the open market per previously held negotiations and agreements.
The chart is the only thing we can confirm, and volume doesn't lie. Watch the ticker tape, it's your best friend when you hold it's hand, when you ignore it, it can turn against you like an unruly pit bull in a dark alley.
Don't be so sure, the supply at this level is still very high. Typically, the volume tends to wane and interest goes out the window when this stock is at a bottom.
I'd say give it till at least next week, although the current pattern does seem to satify an A-B-C pullback off of the high. It could also be very misleading should this be a much larger wave in which a 1-2-3-4-5 wave pattern is formed, in which case, we'd currently be in a wave 4 headfake with resistance heavy in the upper 13's area.
Good luck, don't be surprised if a climax wave under .10 satisfies the need for a necessary shakeout as the psychology of the market and this board at this time seems to still be excessively bullish.
I said it before and I'll say it again. It ran from .006 to .285 in just 3 months, don't be surprised if it takes about 4 weeks to find a base and bottom.
All I got to say about that response is... WOW... sounds familar to the times they extorted billions upon billions by threatening congressman with martial law if the bill wasn't passed.
Exactly, can't wait until the major shakeout is complete, give it another week or so... the psychology on this board is not reminiscent of a major bottom yet.
Recently, market supply has been noticeably exceeding market demand.
I know the reason why but I'm unable to share it at this time on this board. Feel free to shoot me an e-mail if you have my address.
Are you simply speculating that SPNG plans to advertise on Nickolodeon?
Speculation is speculation, you'd only be setting yourself up for a huge dissapointment come July 17th, unless of course you know something we don't?
Yes, the company's only option would be to split the shares, also I'm not sure if this would require the company to officially audit its' finances or not, but that can be a costly process...
Christmas in July - LOL !
And advertising at every MLB stadium, on ESPN, at drag races, etc. is free?
Gimme a break... your dividend is a pipe dream.
Well read the 10Q, a company attempting to get a revolving line of credit which only has what, under 100K in cash?
Give me a break.
It's not feasible, show me one company which has rounded a dividend past one-one thousandth?
Answer: My point exactly.
Well at least it's finally nice to see people actually paying attention on this board. I and many others were trying to tell folks that it's not the "shorts" - it's the company!!!
Doh! If the O/S of (last reported) 722 million shares isn't going up, then why is the A/S, from 1.8 billion to 2 billion, to now 2.5 billion authorized!!!
That type of dividend is not feasible and would never be authorized.
-11.54% today, it's going to take time to create a new base, especially due to the run this has had the past 3 months and the volume that came in at the top...
The easy answer is cash.
So you are a trader who is able to short 5 million shares at an average price of .153 and cover today at an average price of .147 today, how much money did the trader just make not counting commissions?
Even for your average daytrader, 3.9%/day keeps the lights on and food on the table, as well as an enjoyable weekend getaway.
Think about where most of the money was made today and it's easy to understand and pick out which market makers are making money, as well as which market makers work for the company and insiders.
The stock is consolidating, it's in either the C right now of an A-B-C or the 3 of a 1-2-3-4-5 pattern. I'm thinking the latter and I agree with you the next significant run is not going to start in the next 5 trading sessions.
It rallied from low to high and that took 3 months time. This consolidation phase should easily last more then 3 weeks time, if not a solid month or about 20 trading sessions before the next rally is set. The massive volume sell-off that was experienced created an almighty ceiling for the time being and making a base is necessary at this point as well as healthy, first a retest of the .07 panic low off of the high of .28 might be in order and could be likely on the 5-wave lower.
What do you gather from these charts? I don't see any prolonged stays above a significant number of say 5,000,000 shares failed to deliver, which even then still wouldn't be 1% of the shares outstanding!
There also appears to be no discernible relationship between either of those 2 charts and the actual share price, so even if the source is correct, the charts don't have any history yet of a pattern, and even then, the most recent data is lagged by what, 2-3 months?
Thanks for the pleasant response, finally someone talking my kind of language who knows how to look at a chart!
The company and insiders weren't afraid to sell it down initially to .07, it's more then twice that right now, give it some time, they apparently aren't having a problem financing the advertising across the sports world. A retest of .07 to form a double-bottom would not surprise me from a technical (and even fundamental) standpoint.
This would easily exceed the 4x book value. And a relative P/E of about 25 given the potential common and preferred shares as well as the potential authorized and shares set to be exercised into the future. GOOG reached lofty P/E levels during the recent secondary tech-bubble, so bubbles aren't that surprising, and this is literally and figuratively setting up for that.
SPNG book value is .016 as of the latest unaudited 10Q (as of February 28, 2009). I'm thinking a retrace back to 3x that, if not even lower is feasible. SPNG was trading less then book value on Feb. 28, and even depreciated less then half the reported book into March until bottoming at .006, why would it be allowed to trade at such absurd price/book values if the company was known to be profitable at the time and trading well under book value?...
Question on: "International accounts represents sixty-seven per cent of total receivables as of February 28, 2009"
Does International mean that cvs, walgreens, and ace are NOT the culprits as one poster vehemently is pointing out as the root cause of ballooning receivables? See #msg-38969692
As far as I understand, these are all American-based companies with their central headquarters located on the mainland soil...
Earnings were based off of 1,096,245,460 shares basic and diluted, judging by how you are misleading investors here, is it safe to say someone has some .001 par value shares to dump on the market?
You're right, certainly it wouldn't be feasible to give away products for free, but comrade z4 seems to think they are, I'm totally dumbfounded at the reasoning of ballooning receivables, but he seems to know why:
#msg-38969692
CYRX, this is the #1 justification for a declining price in most OTC stocks, the truth of the matter is the transfer agent is gagged, and the authorized share count is 3x the last reported outstanding share count.
9 times out of 10, the above scenarios result in the company selling shares. This is why companies go public after all, to sell shares to the public to raise cash to pay for expenses.
All that advertising you are seeing isn't free, it comes at a cost.
14,007,301 in account receivables as of February 28, 2009, up form 3,974,810 on May 31, 2008.
J
C
An increase of 252% in just 9 months time... red flags anyone?
Accounts receivable is nearly 10x the net income of the previous quarter... These are unaudited financial statements...
Very well written, I can confirm with you that in my history with following these stories, that whenever a T/A is gagged, it's because dilution is going on behind the scenes!
And why wouldn't it be? This company is spending millions on advertising to feed this machine, sure the company is legitimate, but the accounting is shady, and the transfer agent being gagged even adds to the drama!
As of April 16, 2009, the Company had 722,866,061 shares of common stock issued and outstanding.
Where in the hell are you getting 250 million shares at? Also isn't the A/S at 2 billion?
Exactly, the company's press release from April 15th stated:
"Net income for the third quarter of 2009 was over $2,250,000"
However a few days later when the report was filed with the SEC, that number changed significantly to:
"Net income for the three months ended February 28, 2009 was $1,513,422"
A press release stating net income being over 2.25 million only to be brought down to a 1.51 million is a very significant change in just a few short days.
I've seen companies get listed on the Nasdaq such as SPNG, the share price isn't a big deal, usually the companies can obtain a new ticker symbol and split during the listing as needed. Sales and net income tend to be of more importance then the actual share price since it can always be split.
The concerns here however are that the growth is misleading investors and speculators into driving the share price to lofty levels due to overstated net income to the tune of nearly 50%!
33's gap check...
from Dec. '08
Someone remind me to go long at the bottom of the weekly channel, maybe $1.70?
Looks like an A-B-C pullback to me, if not a 1-2-3-4-5, we're either entering C or 3. Either way, that gap under .11 on the chart looks like a solid target to get filled.
Is that true, the T/A is gagged, is it also true the A/S is 2 billion? That explains the big volume at the top of the recent pump and the front-loading on earnings which later came out revised lower, very interesting stuff taking place.
One thing you can't discount is the advertising, is it me or is it in every major league baseball stadium?
BAC implosion today, -9.68%, GS & JPM, insiders of Washington and the privately-owned Federal Reserve Bank off -4.28% and -6.09%, is this the volume and sign that the bears in hibernation have been waiting for?
Well as for the volume, maybe not, but the sign???
BAC implosion today, -9.68%, GS & JPM, insiders of Washington and the privately-owned Federal Reserve Bank off -4.28% and -6.09%, is this the volume and sign that the bears in hibernation have been waiting for?
Well as for the volume, maybe not, but the sign???
The largest employer in our country is MallWart, and next to none of their employees actually get benefits...
AXP, BAC, GE, and JPM are all components of the Dow however...
Could hit low $3's here, it looks like... this market will be dictated by the large banks, some sort of catalyst is needed, less people filing claims was all of a sudden good enough news, thing is, it's due to people's claims expiring, doesn't even count how many people are part-time or juggling 3 jobs, etc. etc. - In other words, companies are struggling to pay EE benefits.
Keep in mind, when a pattern becomes too noticeable, it usually means it has run its course. Interesting company, they're advertising tonight on the Camden Yards backstop.
Wishing I had gotten into this bad boy back in March!
Damn, my infatuation with procrastination caused me to miss this... good luck folks!
Where's the proven resources? I remember a few years ago when this was being pumped up good, only to be deflated back down, folks like you pounding the table on this...
Again, where's the documentation of proven resources?