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.
no chance. now they can name whatever share structure they want. they don't need to buy back shares.
i hope so.
with A/S being 900m post-split, and an O/S 5-9mill post-split, there will be heavy issuance of new shares... they have room to at least double the "new" o/s, hoping that the share price will remain above $4.00.
jmo, am i wrong?
does the o/s share reduction even matter anymore on the 10k? opinions please.
most likely they will issue more O/S... it will be far higher than 5mill after the split.
Maybe they meant to release a 10k, and clicked the wrong file to submit (lol)
The 8k says it all: O/S reverse split of 100 to 1. "A/S reduced to 900 mill"
On August 28, 2009, Spongetech Delivery Systems, Inc. (the “Company”) filed a Certificate of Correction to the Certificate of Amendment to its Certificate of Incorporation (the “Amendment”) with the Secretary of State of the State of Delaware that effects a one-for-one hundred reverse split (the “Reverse Split”) of all of the issued and outstanding shares of each of the Company’s common stock, par value $0.001 (the “Common Stock”), Class B stock, par value $0.001 (the “Class B Stock”) and preferred stock, par value $0.001 (the “Preferred Stock”). Any fractional shares will be rounded up to the next highest whole share. The Amendment also reduces the aggregate number of authorized shares of the Company’s capital stock to 965,000,000 shares, consisting of 900,000,000 shares of Common Stock, 25,000,000 shares of Class B Stock, and 40,000,000 shares of Preferred Stock (the “Authorized Share Reduction”).
True but since it was 100 to 1 I doubt we can hold $20 pps. I guess we'll see what happens...
Reverse split doesn't affect a/s. Just o/s. I feel there was dilution here and they're covering their asses here. Am I wrong?
Haha hilarious man. U made my night. I hope it's not a k turn but I guess we won't know for a few more hrs. Night everyone
Russian roulette, more like it. with 3 bullets in the chamber ;)
haha great name.
the 10J ! and next year the big 14B is coming!
who's your broker, DG?
As long as you have the cash purchasing power, i believe you can buy penny stocks using a margin account. that's not the same thing as buying a stock on margin.
i see it as perhaps a catch-22. no uplist without $XX share price. and no NSS without uplist. and no $xx share price without NSS/uplist.
this is assuming that nasdaq will not waive share price requirement.
thinking aloud here. worst case scenarios. can't assume anything.
without a NS squeeze, we all know we are well below the "fair value", assuming reduced O/S and forward earnings.
Question to consider: Will we EVER get fair valuation if the naked shorts are never forced to cover, and remain in the mix?
the 10k has not been released yet. it will be released on or before September 15th.
basically that was a large trade (seemingly a SELL) executed during the day, but was settled in after hours. therefore, it was out of sequence, and to see the current level, look at the final bid/ask.
this question is asked every day, lol. don't panic about these out of sequence trades.
"morning spongies.. i was checking my zecco account today, and it has sponges last sale at: $0.189.. i know it closed above .20 on friday.. can anyone explain this?"
do we really need to get into branding, subliminal messaging, etc? these images do get processed through your brain, even though you consciously don't recognize it.
as our friends at the US open say :game, set, and match.
yeah lots of upsets. only big name woman left is serena. kuznetzova is still there, but she's not as well known.
roddick is the only big upset so far on the men's side. gilles simon was somewhat of an upset, but he retired due to injury, so yeah.
anyway, back to SPNG!
specializing in bachelor parties, and Las Vegas hotels?
if SPNG buys VAEV, imo very bad idea. basically that would just take money away from expandng SPNG and putting the money directly in SMs pocket.
i think this would be legal, and not out of the realm of possibilities. i speculated about this months ago, and wouldn't be surprised if this occurs, but i feel it would be a bad omen and worthless for the expansion of SPNG.
i wish SM closed shop on VAEV altogether, to be quite honest.
Dinara Safina, our SPNG Spokeswoman (kinda) lost last night. still #1 though in the world!
nothing new Weather. on or before the 15th
thanks, going to check out:
CVS
260 ARDEN AVENUE
STATEN ISLAND, NY 10312
Store #6058
CVS now selling the pet sponge? i'm going to head over there and pick up a few. :)
Between now and Sept. 15th. my understanding is that the earliest you will see a filing could be Tuesday Sept. 8th at 6AM, since the SEC is closed until then.
in email/telephone responses, SPNG management has said that a r/s is the "last resort". it's not impossible folks. improbable yes. bad for most companies, yes. but impossible no. you can't be surprised by anything these days.
"We are in a great position right now and it blows me away that 50 thousand other investors have not found this little gold mine."
Oh, but they have... we have 72,000 shareholders now, acc. to DF
now how do we convince SM to spend $2 million on a 30 second spot? lol
i can see it now. a commercial during the SuperBowl:
a VAEV girl searching online with GFGU, and popping up a Spongebob sponge commercial!
thanks for the clarifications. 72,000 shareholders... that's baffling.
how does DF have that specific of a #? would that be illegal insider information?
i guess it may be legal if he in some way has selling restrictions.
people have called me crazy, but i think it's institutional purchasing... not SPNG buying back, or shorts covering shares.
alright that's not called for... you never answered about your suspicions regarding D&T.
For the contrarian viewpoint, trying to figure out HHomeboy#2's angle, and googling Deloitte and Touche + reverse split, i came across one instance. on may 11, 2004, AMCON Distributing Co. (AMEX:DIT) hired D&T, and in the same PR, announced a 1 to 6 reverse split.
http://www.encyclopedia.com/doc/1G1-116556320.html
not sure if there is any connection between SPNG and DIT. i guess, however, that it is not IMPOSSIBLE for SPNG to approve a R/S with D&T
Zecco is pretty good for pennies. no restrictions. $4.50 per trade, or FREE if you meet certain requirements. they don't cancel GTC orders. only problem is the "tools" are weak, but you can use other sites for that...
2.2 million shares shortable, meaning that 1.1 were covered in the past hour? did i interpret that correctly?
1,100,000 available to short.
as per interactivebrokers