M&A business
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About the redos (2008) you are right. But you can ask for a time extension if it is cleary supported by legal facts and I assume this is exactly what they got time, because due to the fact the the licence of their auditor had been revoked, they can argue for a case not in their control. IMHO
What evidence necessary for the shareholder to win did the SEC provide? The Wells-Notice?
Further: If and when a shareholder sues a company, actually he is partly sueing himself, because a company is owed by the shareholders. In short: Based on your thinking you will win the battle but lose the war.
Again: The way the Class Action suit is formulated - by the way all class action suits versus public companies look like twins - is not as clear, who then at the end would have to pay. If the wrongdoing would be directed at the management - you would have to leave out the company - so the obligo is with the management, and who tells you, that they as board members dont, have a liability insurance? Would be very unique if they wouldn,t not have one. So before you celebrate out of malicious joy, think again.
The delay doesn,t look strange to me. First: It would not help them to release the 1oK and 10Q, they would be in delay again, so they must now as well release the second 10Q with all exhibits. It is common, that lawyers recommend the company how to proceed, so as there will be no further questions left. As they have been pushed down to grey, there is no pressure on them with reference to time. It is the company - as I would imagine - who has a vested interest, to move back to .OB so they better present everything. Least but not last: If one get,s sued by shareholders for reasons I do not have to repeat, your only evidence against the claim of course are the audited figures and filed.
Excellent. Forward it to the company I am sure, they are responsive for constructive proposals.
What I forgot to mention: If a shareholder joins the lawsuit, he may have a very rude weakup call. Claiming that you bought and lost is one thing, but the opposition with right, will ask for all trading records of those claimants. A trading record reproduces the profile of an investor. You would be surprised, what they gonna find out. Some who claim that they lost, showing the purchase, but not the trading in between and so on. I have deja-vue all and it will not take months to solve a problem, it can take years, however, this class-action will be over rather fast, because the company will then walk in and present the audited figures. So, what is left then? Go SPNG
They will have a hard time. The lawyers from SPNG will break up their allegations. The figures, SPNG mentioned "forward looking" still stand - unless otherwise proven -. How can you say in a class-action "include false and misleading statements and omissions regarding financials statements", when the 10K is not on the table. That their auditor lost the licence, is not the fault of SPNG. The judge will see it the same way. Bring me just a few of those class actions which started in the 3th and 4th quarter of 2008 and first quarter of 2009 and ended in favour of the shareholders. With such class actions one thing is sure: Only the lawyer makes his money. Last week for example, a big one was filed versus UBS, that they issued misleading statements with ref. to their financials and were hidding all their toxic derivates etc. Financial-Times, Wallstreet-Journal and the NZZ already forecasted - nil chance - for those who joined the class action, otherwise you could go after every broker and bank on Wallstreet. Finally: Whoever bought shares in SPRING 2009 in SPNG made a fortune. SPNG did not come out and say, you have to buy the stock, their only promotion was their advertising for their products and their presence in the stores. When you buy a stock, you buy the future and not the past, otherwise one should not enter the stockmarket. Another joker for SPNG; they warned very early, that their stock was manipulated - which explains the extreme swings - and they even informed the right places about that. Those joining a class action should rather join a class-action against those, who shorted the stock without reporting and issued misleading statements to profit from their action. But you never know, once all is said and done, maybe some will have their pants lower.
Whenever you start a business with a certain product, you start with a survey about your potential.
In the USA you have approx. 150 Mio households. Those households have approx. 77.5 Mio dogs, at least 150 Mio- 300 Mio cars and with reference to ships, I don,t wanna guess. Sponge in the business for household products (cleaning-Bath) Pet products, Navy-products, Wash-Wax-Car products and more coming, is covering the demand of the consumer at large. If only $ 2.-- per household per year would be spend on SPNG in the USA, you end up with $ 300 Mio revenues. Based on the statistic, the USA household spends approx $ 480.- ($40.- per month) per year for household-products (ex food/drinks) (I do not know, if in this amount Pets and ships and cars are covered as well, I would assume no.) But alone from the figures above would mean if SPNG would catch $ 2.-- per household per year from the total amoutn of $ 480.- we talk about 0.42 % of market share. SPNG will not be satisfied with 0.42% marketshare, this is for sure.
Being Nr. 1 in Amazon, soon Nr. 1 Brand worldwide. Just to recapitulate: Amazon operates as an online retailer in North America and "INTERNATIONALLY". So you could say, the largest retail store in the world. The largest online Retail Shop in the world.
http://www.amazon.com/gp/bestsellers/baby-products/1253811011/ref=pd_zg_hrsr_ba_1_4_last
By the way, at the beginning, Amazon was close to go out of business, because Jeffrey Bezos was accused of everything you can do, to destroy a company, but he made it. SPNG goes through the same experience as well, they will make it. Those who laugh last, laugh best.
What is obvious, the money flows speaks for itself. The old rule, that the price of the stock will follow the money, will be confirmed with SPNG in a big way; to the upside.
Good find. Thanks
Yup, like it as well.
So many experts on this board, going after SPNG, but none of them - I am sure - ever, ever build a business from scratch. It is very easy to critizice someone out from distance. I am not negating the fact, that the management could have made some mistakes. I said "could" because nothing is a fact yet. If their auditor would not have lost the licence, the pad would/could have taken another route. As somebody once mentioned: It was SPNG who selected the new auditor "known in the market as forensic expert" and D&T who stepped out, but common sense then would dictate as well, why would SPNG hire 2 top names, if they had something to hide. Could be, that they had a "backoffice-Mess" with the shares, but this can be settled, but all the rest that has been build in, faked figures and so on, is just plain and simple defamation. Going through all those various posts, some are constructive or try to be constructive and some are plain and simple ever repeating hate-tirades. Why, somebody then should spend his time - unless of course one is retired and useless for other work or within the houshold - to repeat all those negatives, if there is not interest in the company. Looks to me, that SPNG is so good, that at all cost they want to try to destroy the name. Well, will not happen as at the end, the consumer decides which product he wants and finally, the company will put all on he table and make sure, that some will have eggs all over their face.
Money doesn,t have sentimental feelings. As long as liquidation goes on, they are not bidding up the price. Based on the trading patterns and reported trades since October 2009 a lot of new buyers emerged between the 0.04 and 0.05 level, which had nothing to do with Pikes buying or other strong hands. Now some of them feel the squezze either because of margin problems or other "mental" problems. I do know of a guy, who had bougth 10 Mio shs in the range 0.04 and 0.05 and now, he has enough and is selling out. As nobody likes to talk about the losses I believe him and even feel sorry for him, but if somebody cannot take the heat in the kitchen, one should go out or better said, never should have gone into it. So the price structure doesn,t surprise me at all. In fall 2008 I have witnessed many excellent stocks, reaching price levels I never could figure out why, but at the end, the market is no place for weak hands. Those who had the funds and the stomach at that time, made the investment of their life. SPNG at this level will have the same ending, extreme excess on the downside - beyond any fundamental reasons - and the up we go. You know at this price, everybody can take this company private - it is a non-brainer.
As every business-man would confirm to you, it is not the price that counts, it is the quality of a products versus the quality of a product from a competitor. Consumers are not that stupid just to look at the price level, they know what they get a what price. If you should not have known by now: The watch industry is one of the best example: In the cheap price segment $ 60 $ $ 120 the Swatch Group is Nr. 1, even though you have competition from all over the world, producting watches in the segment of $ 20 to $ 60 they never ever reached the volume of Swatch. It is the quality name that counts, the same in the high range of the price segment $ 5.000 to $ 60.000 Patek Philip, Frank Muller, Audemar Piquet and so on. Here I end with SPNG, quality top Nr. 1, with competition plenty of course, however, if they can take 5 % of the total USA volume, you already talk extremely big figures.
I have seen them late summer 2009 as well in 2 stores while I was in Zurich - Switzerland - and believe me, I wasn,t drunk.
The chart comment refers to a 2.5 years weekly chart.
Excellente find:
Unfortunately I cannot put the chart into this message, doesnt work, but here the comment. It is based on a weekly chart going back 2.5 Years.
Read the comment and let,s follow the script:
PSPF is preparing itself for a breakout. Let,s observe some points, which could support this theory. The upper scala shows the money flow, turning up from an extremely oversold level, seen the last time in November 2008, from where the stock rose from 0.0125 to 0.30. However at that time – see lower scala, the Accumulation/Distribution Index was neutral at best, whereas today this index as well is turning form an extreme level, being in Synch with the money flow. Further, the base-building during 2009, shows a huge formation of a so-called Head – and right Shoulder with the middle point at 0.10 and the neckline around 0.30 – see arrow. In short, a break with volume out of the middle point at then would have enough momentum towards the 0.30. Now of course, if the 0.30 is broken, the mathematical target will be at 0.5652, whereas the so-called channel target is around $ 0.90 (Close to the old high) From a fundamental point of view, some figures to put the technical targets into perspective: As of today, the capitalization of this company is $ 5.5 Mio. At 0.30 it would be $ 16.5 Mio and at 0.5652 = $ 31 Mio. Based on what the company has built and based on their 2 brands and the product line overall, one should assume, that the present fair value would be rather closer to $ 31 Mio versus todays capitalization.
SpongeBob story and video from Channel 11 in Atlanta Georgia - from today.
Go SPNG
http://www.11alive.com/news/local/try_it/story.aspx?storyid=140129&catid=292
Can happen with every company, if the management concentrates to much on one direction, without delegating the public-relation duties - inkl. Shareholder Awarness -. The recent examples we see with the banks. City, UBS etc. have build a world-brands, just to find out, that something important was not taken care of. But, one learns from the past.
I would not be surprised at all, if we would not see an avalanche of new products coming to the market over the next couple of weeks. This brand is so good, that the retail stores will take them with both hands.
Superb. Looks great and will as well be a great success.
And right you are. Bravo
The way I researched it: Taikone is independent, means, has nothing to do with Dicon. What is right, there are certain agreements: If Taikone sells products based on the technology from Dicon, they have to pay Dicon, which now is owned by SPNG.
Well done, excellent.
I have been watching this company for a while. The technology is understood and the market potential a given fact, however what I do miss, a guidance from the company for the years ahead. What potential in $,s do they see and what is their margins. Further, does the company plan to issue some financial filings so as to get more insight knowledge. I am pretty sure, this stock could attract some following, however, the management has to do something for it as well. Comes to it, that some of the people of the management -based on their professional experience - know exactly, how the Street thinks and acts. Any opinion form other posts.
Okay, let,s close our subject of arguments that way: When blood is running in the street, invest. Copyright: Baron Rothschild.
No, nothing should be ignored, however one should not make an elephant from a mouse. For my gusto, to many interests have been build into this case, which always makes me cautios. What is obvious, is obviously wrong I have been thought.
My advise: You are 64 years old, buy some SPNG at this level for your grand-children and they will praise you for your wisdom. The risk-reward ratio is to good, not to take a chance, this at least is my opinion and at a certain day we gonna find out, which one of us, was right. I at least have put my money where my mouth is.
Has nothing to do with gray sheet. There are companies with a prime brand and they are not even trading but went through a hell of a mess. "Red-Bull" listed?
As I said, read the history of American Express!
You have to start somewhere. Go to your library and ask for the book: How to build a brand. It doesnt happen overnight but it is a lesson of surviving of the fittest.
Looks like, you never studied to how Buffet became rich. Okay, no problem with that. But if you should do it, you will see names he invested in at the beginning, nobody would have paid a nickel for it. That is the difference between those dreaming to become rich and those "using their common sense and some contrary opinion philosopy".!
Go back and study the history of American Express. You will be surprised how closed this company was to "dead". By the way: Every Brand started from somewhere. There was a time, nobody wanted to take the Franchise rights for Red-Bull - Scandal over Scandal - well as we all do know today, those who took the chance smile.
Let,s say it the simple way. SPNG is a brand and everybody in the industry knows, how hard it is to build a brand. Whatever goes against you, the brand remains. Ask Warren Buffet, when American Express was on a downward spiral, he took the chance because of the brand. SPNG will get out of this mess stronger than before. In hinsight we may say, thanks god certain things happened at the beginning of the cycle, because you learn from mistakes. Go Spng, we are with you.
I would not argue against you; I have been following your posts for a while and your presentations made sense, however, as always in life, we may never know the exact facts, but one thing is sure, being long is the better advice, than being out.
Sprott Asset Management Holding with a new adviser:
http://www.newswire.ca/en/releases/archive/January2010/19/c9709.html
These boys know what value is. Sprotts average point is about 0.12 per share. By the way, Faber lives in ASIA ... Smile
Unfortunately one is loosing much time to correct misleading statements. Here the list black and white:
As you can see: THE CONTROL 3.2 Mio shs. in SPNG which represents 0.02 % of the SPROTT ASSET MANAGEMENT IF THIS FUND, HOWEVER 0.44 % OF SPNGE OUTSTANDING.
READING RIGHT AND UNDERSTAND IT RIGHT IS OF COURSE A PRECONDITION BEFORE POSTING WRONG NUMBERS.
Pike Capital Management, L.L.C. 160 M 6.40 M 12.23% 22.13% Low
Signature Management, LLC 41 M 1.11 M 100.00% 5.67% —
Sprott Asset Management LP 3.2 M 390,400.00 0.02% 0.44% Low
Janney Montgomery Scott LLC 125,000 8,625.00 0.00% 0.02% Low
Fisher Investments 90,000 4,500.00 0.00% 0.01% Low
Indiana Trust & Investment Management CO 40,000 2,760.00 0.00% 0.01% Low
AMI Investment Management, Inc. 40,000 2,760.00 0.00% 0.01% Low
Logan Capital Management, Inc. 14,000 966.00 0.00% 0.00% Low
Inverness Counsel, Inc. 10,000 500.00 0.00% 0.00% Low
Vigilant Capital Management, LLC 10,000 500.00 0.00% 0.00% Low
Boys, First go back and find the exact figure, before you make a mathematical nonsense out of it. Going over the filings in SPNG, all the reported figures there are accurate. As you have a problem what 0.02% means here a filing in SPNG with that Percentage:
Janney Montgomery Scott LLC 125,000 .02 $8,750 30-Sep-09
Yup and then you go out and pay taxes. The IRS would be happy to have more such clients. Oh, before I forget; and all the products in approx. 45.000 or more stores in the USA are sold for free. Please, get real