M&A business
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The message on the IR Board is very clear and makes sense. What else would you expect? If a company finds itself in a situation like SPNG presently, it is a prudent advise from their lawyers to keep silent. If and when they have something to say, they will. Funny, that this kind of information policy should be special, because whenever a company is confronted with a problem or problems, their public relation manager replies all questions with a simple reply: It is our policy not to communicate on rumours etc. IF and when we have something important or constructive to say, we will do so.
The list could go on and on, but we should add to it:
-Nobody give Clinton a chance during the Lewinsky Scandal
-Nobody ever thought Obama would make it.
Always expect the unexpected: Spng will raise from the ashes stronger than before and wiser than before.
I will give you my opinion: When in 2008 it looked like, that the markets are falling apart, a lot of adverdisers used the exit clause to terminate their contracts. SPNG at that time took the chance to enter the game and fill the gap at very attractive levels and it served their purpose, if I may say so. As every contract has an exit clause, SPNG today could actually terminate most of their contracts if - for cash reasons - they would have to do so. I am pretty sure, that in future we will read of more terminations of such contracts, however in mutual agreement, like they did with the New York Yankees. (Under normal circumstances such things never become public, because it is of no interest and it is common during a recession phase to cut expenses left and right, and advertising is one of them.) Futher, most of these contracts have a so-called performance clause, which in detail may would be to complicated to go into, because they may have divergences from club to club. As nobody from us here knows the content of the agreement with the Mets, it is obsolete to speculate. The Mets on the other hand may have an underwriting agreement - property - with Madison Square Garden, which of course would be an integrated part of the contract Met,s with SPNG. If - as the communique from SPNG read - mutual disagreement was the purpose of not paying - the logical consequence of course means, that not only the Mets were not satisfied, but the Madisons Square Garden as well. The Law-Office from SPNG is known by reputation as on of the best in New York, so I would assume, that before you do stop paying - they have looked into the signed agreements and must have found a legitim reason to do so. If the judge will share their view, is another story.
It is not the question "if they did not have the money" the question is, why they did not want to pay. You know the difference between "having right" and "being right". The cheque story will be written in court and don,t be surprised, it the outcome is in favour of SPNG or worst-case 50-50.
I would subscribe to your thoughts. The strategic thinking of Pikes is the handwritting on the wall.
I have to run, but on this point you are right, no Market Maker, however, the stock trading is controlled by 1 entity who combines all orders. I have been buying many times in recent weeks - so at least you see I am a shareholder - and the guy who takes the orders told me, that there is only 1 entity combining the buys-and sells. Which is logial, as otherwise in the Grey, you first have to locate a seller who fits the buyer. At least this is the way I see it.
Yes, sales are recorded when you have delivered the goods. But in the balance sheet you see then as well the rubrik: Receivables, which means, the company has a claim, however funds not yet received.
You can present the list as many times as you want, I could easily contribute a list, which would dissect all points with counter arguments. But, I prefer know to go for a good lunch with a good wine and afterwards washing my car with one of the best product on earth: Sponge-Bob.
The recent range - support - is rather easy to explain. The stock has only 1 market maker, which doesn,t make it easy. Now I would guess, that between 0.04 and 0.05 a lot of people took the chance to buy in, maybe even on margin versus other stocks, and know being pressured, have to get out. The blocks of shares between 100.000 and 1 Mio. are taken up very quickly. That the -common - market waits to buy in is logical, however, there is buying not from common people, rather sources who know exactly what they are doing. Among those, you can consider PIKES as well.
As I am not an Insider neither being a visionary, I am not in a position to tell you. However, I have my opinion with reference to this and I will by no means express this opinion on boards. But based on various cases I am pretty sure, I am not far off. To make the story short, I would say, it could be expected within the next 2 weeks. This is not a prediction it is a guess based on what I think could be behind the delay.
The SEC never said, their filings have been bogus. Please, one should not build things into this case, which are not true. The SEC case versus Metter and Moskowitch is with ref. to securities issues. Not unique per se, have seen a lot of Wells-Notices with relation to the same subject. If you dance around Wells-Notices fine, but then go back and study the ones issued versus General Electric, versus Bank of America, UBS and so on.
You should not predict an early end of your live, should you?
If the word SPNG wouldn,t be there, I could give you plenty of Blue-Chips names with the same agenda.
Learn from history; For beginners, Rockefeller was accused of everything incl. murder, JP Morgan as well, nu - those who accused them of all this, remained what they were, while the Rockefellers and Morgans became even bigger. There are a lot of things between heaven and earth (in Wallstreet-Terms) that cannot be explained, but will be explained later on. One can discover what your enemy fears most by observing the means he uses to frighten others. In short: It looks, a lot of writters fear a succesful outcome for SPNG, isn,t it that way?
Believe it or not, SPNG had plenty of revenues. But as every business-man knows, between the order is a timeframe for delivery and another timeframe for payment.Between delivery - if it is not LC based - it can take up to 3 months. Only then, when the bills have been paid, it enters the cash-flow system. A lot of companies can even have a bridgefinance against the amount owed for merchandise if the counterparty is a good name. So don,t worry about SPNG not having been in a position to finance the Dicon deal cash. But why don,t you just wait for the K10 and 10Qs? It would make your life easier, because then all your questiones would be answered and in the meantime you could use your precious time to do something economically.
Thanks for bringing this to the point. The same conclusion has been taken by a few other people as well, but they did not post it. Good job.
What should be misinformative. The 1 show sponsorship is business as usual. Go to a box fight then you will see or plenty of other sport-events. There is nothing misleading about that.
I am pretty sure about that.
You like to mention the word crooks too often.
Never forget what a man says to you when he is angry.
Henry Ward Beecher (1813 - 1887)
ROSEN and Co lawsuits
will not have any chance to succeed, otherwise, banks in 2008 would have been sued to death, including the brokerage firms. If a shareholder claims, to have bought SPNG, because they believed their figures, maybe they would have done themselves a favour and waited for the 10K and 10 Qs. Even if there should be an aberriation in the figures - which I do not believe - they have nil chances. Otherwise everybody could have said, while suing the banks and brokers, they did not tell them the off-balance derivatives and other toxic products. The only ones making money of of such class-actions are the lawyers. That,s all. Go SPNG
What I forgot to say. Once a certificate is returned to the Transfer Agent and it is in the Street-Name (CEDE) of course this certificate must be cancelled, as it is not valid anymore and due to that a new certificate must be issued in the Street Name.
CEDE. I try to give an example. Let,s assume, I would have received a certificte for 10 Mio shs in my name. So my name is on the list. Then I go to my bank and put this certificate into my portfolio. The bank send this certificate to their street-Agent and the Street-Agent sends it to the Transfer Agent. The Transfer Agent confirms, that this certificate is legitim and by doing so, the Street-Agent confirms the bank, the certificate is legitim and with no restriction on it. From that day on, my name is gone and I do appear under CEDE. Which is logical, if I sell part of my shares, they buyer of my shares will then be under CEDE as well. Therefore anonymous. Conclusion: I think on the list appear a lot of names, which have done exactly what I described here and appear now under CEDE. Could give at the end then a total wrong number. What one needs is a DTC list, this should show the real status.
A final thought: A lot of discussions about the possible Short overhang from the past and the present. Having studied the pattern of this stock all the way back to January 2008 and other hopplas in between, there is only one conclusion to be taken from it, that the stock was beaten twice by short attacks. But, this is snow from yesterday. Of interest is the present and here, it is all pure guess, but if, and this is the possibility to entertain, still some crazy nacked positions would be out there, you can punish them for got, through a reverse merger, and this would be final. Another solution would have been a dividend in form of cash or stocks from another company. Having said this, looking backwards then all of a sudden the GFGU deal makes sense. By investing in this company, and then giving the shares per ratio to SPNG shareholders, possible shorties would have been short SPNG and GFGU. Now, as Moskowitch did this GFGU deal, it points rather into the direction, that their DD came to the conclusion as well, that the NSS are real. If M would have been behind it, why would he punish himself? Did you ever think about that? Further, when the GFGU deal was announced - later cancelled - later part of it activated - the flashing lights were all over, that the fun party for the short could have come to an end. Well, in the meantime, certain events played into their hands, lucky once okay, lucky twice maybe but lucky all the time, I strongly doubt.
Mingy, while I do agree with your number to be closer to reality and truth than the rest, I still have the feeling, that all the trading since we are in Gray could lead into the direction of absorbing these overhang. See my remark as well here:
SHORT 1.7 TO 1.8 BILLION? By all reality: If we take the traded volume in the Gray since we are there, I get a figure of approx. 1,7 Billion. Looks to me, that Mingy is rather right with his assumption, however it would then point as well into the direction, that we are closer to a balanced stock situation than not. By the way, the SEC report in relation to NSS is not accurate, this we all know. You can do roll-over shorts, so they are never reported. How it works: A sell 100 Mio shs. short. The day before A would have to report, he is buying them back, balanced by the same sale of B with another entity and so on. This is exactly the proplem, why NSS are so hard to track and get and this is way, so many companies under attack complain.
SHORT 1.7 TO 1.8 BILLION? By all reality: If we take the traded volume in the Gray since we are there, I get a figure of approx. 1,7 Billion. Looks to me, that Mingy is rather right with his assumption, however it would then point as well into the direction, that we are closer to a balanced stock situation than not. By the way, the SEC report in relation to NSS is not accurate, this we all know. You can do roll-over shorts, so they are never reported. How it works: A sell 100 Mio shs. short. The day before A would have to report, he is buying them back, balanced by the same sale of B with another entity and so on. This is exactly the proplem, why NSS are so hard to track and get and this is way, so many companies under attack complain.
Let,s assume that the number you mentioned here of approx.2.25 fits, then, based on what has been going on, since we are in the Greys, traded volume of approx. 1.7 Billion, would bring us down to around 55o Mio. But I am not smarter on this one, than anybody else.
It is the outcome that counts, not the noise in between. I have seen a lot of cases and some of them ended the other way around. We will see - so let,s be patient.
Do not underestimate the lawyer from SPNG. For every case there must be a reason. By not paying them, there must be more behind it, and for this we have judges and at the end we will know it.
Look, the Brand and the product must really be excellent, otherwise, nobody would spend so much time on them. But, this is not isolated, competition is fighting hard and SPNG is the best example. Nobody, goes against a loser. You know that.
Well what you said last Friday, was not exactly a forecast, it was a prediction of the past. SPNG already issued a statement on Thursday with ref. to the METS case and the story form the bounced cheques were already known before. Oh my, oh my, what a crystal ball you have.
For every presentation, there are 2 opinions.
Good post, you were ahead of me. After reading it through, have to come to the same conclusion. After all, it is the stamp from the bank and this is the valid point.
Great DD, thanks.
Well it is not only Pikes who has money, there are individual investors with deep pockets as well. So take 20 of them and each of them buys between 2 and 5 Mio shs. ( which is little money ) you get a nice volume as well over days.
How would you know who attended the event or not.
But for sure you know, that 99% of the shareholders don,t leave an Email.
Got it as well, excellent promotion tool.
At least somebody with a clear head and mind. Thanks
Nice to see, that they got a date.
Yup, Bradley Birkenfeld got as well immunity as witness and whistleblower versus UBS, now he sits in prison. At least the judge was not blind-eyed and questionned his motives.
You see, they way you scanned the text into your post, it could be very misleading, as it sounds like a command, that is how misconceptions are caused.
Neither you nor I do know what goes on between the SEC and the company. All what I can tell you, the lawyers have the scepter in their hands until all is cleared and settled. That is the way it works.
Which upcoming problems. I like to learn