M&A business
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Oh, they publish: Plenty of 8 K filings and other filings, like the last 2 ones, defending themselves against the claim from Met,s and Madison Square Garden and issuing news about new products etc. But there is a rule, dicated by their lawyers: Keep your mouth shut with ref. to shares, financials etc. until all is on the table and the SEC is satisfied. That is the first thing you learn, as soon as you sit around the table with your lawyers.
Here is another link, and it is from Jan.13.2010. Why do I know, because Pikes is in there with 160 Mio. Just scroll down.
http://data.cnbc.com/quotes/SPNG/tab/8
Here is a better updated list: Filed per 21.10.2009
http://www.mffais.com/125381
SPNG still on it.
Not alarm, it is the mantra, perpetual repetition.
Whatever, I have no secret agenda, just common sense. In dubio pro reo or in plain englisch: Some posts here are without a shadow of doubt.
If we exclude the suspension and the greys, you will have to admitt, that the rest of your mentioned points, are part of the business on Wallstreet. I do not pretend to be neglect of all things, however, if stories are repeated like hurdy-gurdy, you will have to admitt, that the motives of those doing this have to be questionned.
Doesn,t surprise me, that you are only challenging SPNG but not Incredible Discoveries. ID - who by the way is operating under various names, has been covered with plenty of lawsuits, seems, SPNG is not the only one company, who realised, that they are not delivering what they promised.
Well this price is in EURO - traded in Frankfurt - equals $ 0.0345. If you report something, do it right.
As the USA is closed, tried to buy in Europe. It is not easy, you pay above parity. KBT.F Euro 0.024 = $ 0.034. With 1 Mio shs. you would go as high as 0.040. No liquidity out of arbitrage.
Neither I nor anybody else on this board, knows the facts behind these claims. As always, when 2 parties diametrically opposite have opinions based on signed agreements, it ends on the table of their lawyers and mostly goes to court, where a judge has to issue a verdict. For the sake of fairness - being one pro or contra SPNG - one should leave it there. Everybody can read anything in a text issued by the suitor but would it then not be better to await either a reply from the defendant or a defintive outcome? Of course, those who want to see the story negative, jump around the text: bounced cheques, however, as we all do know, there could be various reasons behind: RM could have blocked the account for a while; later on, when the account was again re-activated could have issued a stop paying based on reasons, they would believe, was their right based on mutual disagreement and so on and so on. One could as well point out, that SPNG with their lawyers thought to be on the right side of the interpretation of the signed agreements, therefore only paying what based on their legal interpretation would be due. I could go on and on and this shows, it is all pure speculation. The only one thing that is sure here: There are diverging opinions and therefore it landed there where it is, awaiting for a solution and for that, we are not needed.
You have to scroll down where it says: Top Institutional Holders. There you see the statistic as a % owned of shares outstanding. The total therefore amounts up to 721.910.112 shares O/S
Is from October 2009, snow from yesterday.
I have no crystall-ball, but I agree with you, SPNG is top and will survive. Some are making a huge story out of something, which is - if I may say by all fairness - common on Wallstreet. No company exists without any legal hassel - nobody is perfect - but SPNG looks like is the darling of a lot of people who are not shareholders. This really makes me think.
No quarrel about that, but despite this, the property owner is Madison Square Garden. It is like with a hotel: A) The property belongs to X, the hotel to X1 and the leaser of the hotel is X2.
Well, this kind of industry is part of Wallstreet. The little companies as well as the big companies (only they have other channels and opportunities) us this promotion tool. I do not see anything what should be wrong about. Market letters get paid by subscribers but those issuing technical and fundamental thoughts for free, have to be and getting paid by somewhere.
1.) Wood got paid, to promote those products through his outstanding record as gold player. Identification. When he became "technical" problems with his private life, bingo they dropped him.
2.) The Mets - for example - were used as well, through their outstanding record as players - to promote SPNG. Of course here we talk about perimeter-advertising. And here comes Madison Square Garden into play. So if you have "mutual disagreement about performance" the Mets issue a claim and as day follows night the property owner Madisons Square Garden as well.
3.) The Yankees may have stepped out for reasons, when SPNG was attacked in the press. But their contract was terminated in amity, as we would say.
In short: The world is big enough and has enough channels and opportunities to promote the product, so I would not worry about this one.
Just follow the money.
http://data.cnbc.com/quotes/SPNG/tab/8
Then scroll down for Holders.
By the way: SPNG was rated Nr. 1 "Brand Name" recently.
Their products are widely recognized of top quality. Once this setback is over: Even the shareholders will be happy again. Takes some time.
Neither the ones with Met,s and Madison Square Garden. I am pretty sure, they will find each other in the middle.
There are many reasons for a cheque being bounced. Based on the press release from SPNG it says: Mututal disagreement. Based on this wording, I would say, that
"A drawer may also issue a stop on a cheque, instructing the financial institution not to honour a particular cheque." If this is the case, then it is absolut legal. Most of the time, it can be seen in the L/C Business, where the cheque is cleared versus delivery of goods. However, if during the DD of the goods some quality problems arise, you instruct your bank not to honor the cheque and then of course you as well return the goods.
I think we can rely on the recent filings from Pikes, where he takes reference to 22 % of the outstanding shares, which would point towards approx. 72o Mio. I just cannot see, how a Fund-Manager would add to his position, without having spoken to the management, to the auditors and to their lawyers. Pikes is aware, that SPNG is in control of the voting rights, so from this corner he knows who is in control, however, if you go for 22 % of the common-shares, you want to know the outstanding and you want to know, that the company is not diluting under your nose. Further, I would assume, that Due-Dilligence is as well digging into the overall picture. There is a big difference between a retail investor and a institutional investor.
It happened as well to Tiger Woods when his problems arose. The advertising partners capped their agreements with him. That is part of todays world, but wait until Tiger Woods is back as Golfer Nr. 1.
Based on this one, the Mets are the property owner.
http://www.thegarden.com/about/index.html
Our Properties include:
Signage in MSG
Events at the Garden
Knicks
Events at the Theater
Rangers
Boxing at MSG
Mets
Radio City Music Hall
Liberty
Hartford Civic Center
Devils
MSG Network
Islanders
Fox Sports Net
Nets
MSG Radio
Jets
Clearview Cinemas
SpongeTech also announced that it has recently opted-out of its business affiliation with the New York Yankees. Cancellation of its advertising agreement with the New York Yankees was on an amicable basis and was in full compliance with the parties’ agreement. Statements that appeared in the popular press, to the contrary, are not accurate.
The above is the text from the press-release from SPNG. NY-Post just would have had to ask the Yankees and they would have confirmed it. But if you don,t or won,t ask?
As it says, the Met,s case is about "mutual disagreement". Logically then, if you quarrel with the Met,s, Madison Square-Garden as the property owner, is not getting his share either.
Very good find. Let,s make sure, we keep this on the top.
My Streamer is not working either.
I did not question your mail at all, I only meant, besides those who do the filing and will do the filing, there have been buyers of size as well, which I doubt they will file, because if the operate off-shore these shares will be held in the streetname, means they will bypass the filing. Of importance is, the buyers are around, plenty of.
SPNG was talking about going into cosmetics. By incorperating Dicon, they have now the research in house. At a certain point we as well will see a vertical integration if this know-how -among others things - through Vanity, but up to this date not yet all clear.
Supermoney:
I am just getting started with my DD in Vaev. The reason why I got interested in, as I together with my group became interested in SPNG - yes we are shareholders - and had to do some more DD as well for mutual friends who are running Funds, however are not yet in SPNG and have to wait, until it is out of the Grey. Through this process we have put our fingers on VAEV. But as I said, I will wait for the businessplan, which I do expect to be released somewhere in January 2010 and based on that, I will then decide. The price per se doesn,t matter it is the potential that matters, so it may very well be, that I will pay a higher price but getting in at the bottom as well out at the top, may be the dream, but seldom happens.
The post is broken down in various chapters, reflecting the thoughts of the writer. As far as I am concerned, it is a very constructive post and could at a certain point be used as a platform for discussions. To try to get to the bottom of something and create your own opinion is by far the best approach for success.
As far as I am concerned, I am waiting for: Business Plan from Vanity and the new Webpage, which for sure will be the shop-window to the outside world and reflect all what they have in mind to do.
If right or wrong, I am an admirer of Steve Moskowitch - although I do not know him personally - however, what he has build with SPNG, hats off. I do know, he has been criticised for what presently is going on (share-price-wise not business wise) however, a lot of enterpreneurs had failures on the way to the top. From every mistake you learn and this may be a positive for Vanity.
Finally: I simply would not be surprised, if the market would not be surprised by what Vanity has in mind to do once it becomes visible and understood. There are so many possibilities what they could do, that it is obsolete to start to speculate about it.
I would assume, if the buying has been spread through various entities, so as to remain below the radar, we would not see any filing. However, it doesnt change the fact, that some strong hands entered the market at least on Wednesday and Thursday. Another point: A lot of portfolio managers and small-cap funds cannot buy, as long as the stock is traded on Grey, this of course will change once SPNG is back, means, there is a rather dammed up demand of buyers to enter the market, then. I do know of portfolio managers, who do not have the restriction "not to invest in Grey", who have entered the market, after the service of the Wells Notice. Why? For them it was the trigger, that the solution is near, means settlement with the SEC and go back to business.
Spongeboy: First from a value point of view, I think most would agree, that the stock should be trading between 0.35 and 0.45. So far the fundamentals.
Now back to the logic: That the shorties had their fun with the stock we all know as well. When SPNG reported, that they have an intention to move to NASDAQ, from then on the red light flashed. Because SPNG could have done this through a reverse merger into a Shell, and the shorts would have then be confronted with the final verdict cover. Further: When SPNG reported, that they will do an investment in GFGU another red light flashed up, because those GFGU shares would have been distributed - like a dividend- to the SPNG shareholders with the consequence, that the shorties in SPNG would have been short as well in GFGU. In the meantime, they got what they wanted, SPNG being brandmarket, being delisted and later on put back into Grey, served with Wells-Notice etc. However, SPNG is not a speedy gonzales company, SPNG is a young, strong and very succesfull company, fluid of cash and surrounded by a good team of legal minds and more. They may not have had the script to see this coming, but once they saw it, they knew what to do, to put an end to this very sorry saga. Through the involvment of PIKE the signals are flashing which direction we gonna take: Settle with the SEC in short period, release the 10K and 10Qs, go back Nasdaq.OB and then from there implement what had been in mind from the beginning, the move back to Nasdaq through a reverse merger. Those being short would for sure not survive all this, as they already would get killed in the first move - going back to .OB, but the latter part, would give them the absolute fare-well.
This is why I meant, you are closer to it, than you think. But do I know more than you? No, it is an assumption as it is deja vue and maybe some experience in the worldmarkets. Markets are like playing a chess game.
Spongeboy, you are closer to the truth, than you think.
This is what surprised me as well, there was no need to file now, but he did. He could have waited another 10 days - as far as I am concerned.
One of the founders of the Rothschild Dynastie was famous for his quote: When blood is running in the street, buy! Analysing the SPNG Saga, it would be an understatement not to confess, that we have entered this period of what Rothschild has been talking about. The board is full of people who pretend that they do know all, however know nothing, but are good with fighting a running battle. They pretend to be experts with reference to SPNG,s products, patents, businessplan, marketing and so on, and because of being lost with their arguments they put themself on a level of jealousy, that one get,s the impression this is all what they have. Why they are so obsessed, to turn the visible positivum into a negativum is beyond my understanding.
Meanwhile, life goes on; SPNG got rated Nr. 1 as a Brand, goods are flowing into the stores, deals are negotiated and signed, new products are in preperation and close to be released, the sword of Damocles hanging over the stock because of the Wells-notice will be settled at a certain point as well, in short: SPNG is alive, active and working hard to gain momentum in a huge market. While this can be felt, seen and even smelled, some people us the present Patt-Situation - Grey market - to accumulate cheap shares and as some wrote on this board under the tile: Follow the money: Pikes is filing on a periodic level, that he had accumulated more, reaching a level of 22 % as of Friday, again confirming good old Rothschild proverb - which by the way, made the Rothschilds rich, while those only seeing what they want to see, the negativum, will remain left out. But this latter group will then again, once all is said and done, form the "Group of Jealousy" because they missed a very rare opportunity. Don,t let this happen, otherwise looking latter into the mirror you would hear your voice: Stupid forever, ignorance could have been fixed.
jeffx.... Well said. Some people will not understand. SPNG had actually to take over Dicon, otherwise they really could have been left in the cold. This was an excellent move.
I am not weeping: That is the reason why SPNG took over Dicon. If they would not have done so, they really could have had a problem. Now, the problem is gone, this is a fact.
Spongetech Delivery Systems, Inc. designs, produces, markets and distributes cleaning products for vehicular use utilizing technology relating to sponges containing hydrophilic, which are liquid absorbing, foam polyurethane matrices. The Company's products can be pre-loaded with detergents and waxes, which are absorbed in the core of the sponge then gradually released during use. The Company licenses the rights to manufacture and sell its products from H.H. Brown Shoe Technologies, Inc. (doing business as Dicon Technologies), the holder of the relevant patents relating to the hydrophilic sponges. The Company has designed and Dicon Technologies is conducting research and development for products using the same hydrophilic technology for bath and home use
OF IMPORTANCE: tHE COMPANY LICENSES THE RIGHTS TO MANUFACTURE AND SELL TIS PRODUCTS FROM H.H.BROWN SHOE TECHNOLOGOES, INC. (DOING BUSINESS AS DICON TECHNOLOGIES), THE HOLDER OF THE RELEVANT PATENTS RELATING TO THE HYDROPHILIC SPNGES. This text was written before SPNG took over Dicon - and it clearly stipulates who owns the patents at that time - Dicon
As SPNG took over Dicon, with it came the patents. And if some nay-sayers will turn in grave, that is the way it is.
I found this post from June 2009.
Posted by: Ardbeg Date: Friday, June 19, 2009 4:02:45 PM
In reply to: z4lover who wrote msg# 117755 Post # of 278254
Well it is complicated but Dicon (HH Brown of Berkshire Hathaway) first developed the sponges and then in 2001 Dicon and Michael Sorrentino (of RSI which is now Spongetech) co-invented the current sponge that is used by spongetech. At the time RSI gave the patent rights to Dicon but signed exclusive rights to the sponges.
You can find it all here:
http://www.techagreements.com/agreement-preview.aspx?num=233564&title=Spongetech%20Delivery%20Systems%20-%20License%20Agreement
http://www.secinfo.com/d14W3c.28.4.htm
http://www.techagreements.com/agreement-preview.aspx?num=231954&title=Spongetech%20Delivery%20Systems%20-%20Supply%20Agreement