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A fine gentlemen you are, thank you.
Thanks, perhaps it means IB is scaling back risk by allowing less to be shorted because of whats ahead?
As pointed out numerous times, the figure on IB does not indicate short availability.
Quite a difference between short interest, and naked shorts interest through FTD's and the creation of Phantom shares.
Wow, NITE down 25 cents in AH trading. Not looking good,
Only 1M available for short on Interactive brokers. Can't remember if i've ever seen it this low, usually its 5-6M every night.
http://www.interactivebrokers.com/en/trading/ViewShortableStocks.php?key=spng&cntry=usa&tag=United+States&ib_entity=llc&ln=
does pike now own 164m?
Looks like that 2M sale, was actually a buy. YIPEEEEE!!!!!!
I can't help but notice similarities between the new york post and now this abc station. Both bash, and in a short period of time. Why would this women chose 2 spongetech products so back to back?
Figured if I threw it out there I might get things going like the good ol days
Did you actually use the sponge on your car and are not happy with the results? I don't understand if your suggesting it wont work, or that you actually tried it.
Never had that problem with the car washing sponge, and everyone I know whos used one only had good things to say.
Do the .50 cent sponges collect bacteria? TIA
POWER HOUR
Not sure if you read the 8k where it talks about the settlement, but here. This line seemed pretty clear to me, bolded at the bottom. LOL
On November 5, 2009, SpongeTech Delivery Systems, Inc. (“SpongeTech”) and R.M. Enterprises International Inc. (an entity in which SpongeTech’s directors and officers hold direct and/or indirect ownership interests, and of which certain of SpongeTech’s officers and directors serve as officers and/or directors) (“RM”) entered into a Settlement Agreement (the “Settlement Agreement”) with GetFugu, Inc. (“GetFugu”). By way of background, on September 8, 2009, SpongeTech announced that it intended to invest $4 million into GetFugu`s mobile-based web search and e-commerce technology. An aggregate of $1,750,000 was advanced to GetFugu in anticipation of the entry into a definitive investment agreement. On September 24, 2009, SpongeTech announced the rescission of investment plans in GetFugu and that GetFugu had advised SpongeTech that it currently did not have the funds to repay the $1,750,000 and that it was seeking alternative financing sources to fund a reimbursement. On September 30, 2009, SpongeTech filed a lawsuit in the United States District Court for the Southern District of New York against GetFugu (the “Lawsuit”). The complaint alleged breach of contract, breach of fiduciary duty, common law fraud, conversion, willful misconduct and unlawful appropriation of funds by GetFugu and sought to recover the funds which were previously delivered to GetFugu.
Pursuant to the Settlement Agreement, the parties agreed to an immediate dismissal of the Lawsuit with prejudice, and each of SpongeTech and RM released GetFugu, and GetFugu released each of SpongeTech and RM, from any claims, rights, damages or obligations against the other, including without limitation and causes of action that either were asserted or could have been asserted in the Lawsuit. In addition, GetFugu agreed to issue to insert-text-herean aggregate of 5,250,525 shares of common stock of GetFugu (the “Shares”) in consideration for the $1,750,000 which GetFugu had previously received, and granted piggy-back registration rights with respect to the Shares. SpongeTech will also be placed on GetFugu’s mobile search platform.
SPONGETECH AND RM!!!!!!!!!!! See?
The settlement, can you please provide a link to that, because if i'm reading correctly, this is the terms of the settlement. LOL
It clearly states, that they reached a settlement, and GetFugu agreed to issue to SpongeTech and RM an aggregate of 5,250,525 shares of common stock of GetFugu (the “Shares”) in consideration for the $1,750,000 which GetFugu had previously received,
Yes, Spongetech.
That 8K was a lie as evidenced by the settlement between GFGU and RME
No, I think not. Furthermore, I think its outrageous to even claim SPNG is putting out false 8k's while currently being under investigation. Every postive SPNG filling is a lie, but every negitive aspect is deemed fact.
It makes no sense for these guys to be running a scam when they have a great product, great idea's, great company, great growth, and a huge future. Why would they risk going to jail for a long time by putting out false 8ks, especially while currently being under investigation. . Doesn't make sense, and that is why i'm long and looking for much higher levels.
http://sec.gov/Archives/edgar/data/1201251/000114420409057095/v165164_8k.htm
I'm sorry, that is just not correct. Last paragraph, they did loan money, and they are expecting to get shares from getfugu. LOL
On November 5, 2009, SpongeTech Delivery Systems, Inc. (“SpongeTech”) and R.M. Enterprises International Inc. (an entity in which SpongeTech’s directors and officers hold direct and/or indirect ownership interests, and of which certain of SpongeTech’s officers and directors serve as officers and/or directors) (“RM”) entered into a Settlement Agreement (the “Settlement Agreement”) with GetFugu, Inc. (“GetFugu”). By way of background, on September 8, 2009, SpongeTech announced that it intended to invest $4 million into GetFugu`s mobile-based web search and e-commerce technology. An aggregate of $1,750,000 was advanced to GetFugu in anticipation of the entry into a definitive investment agreement. On September 24, 2009, SpongeTech announced the rescission of investment plans in GetFugu and that GetFugu had advised SpongeTech that it currently did not have the funds to repay the $1,750,000 and that it was seeking alternative financing sources to fund a reimbursement. On September 30, 2009, SpongeTech filed a lawsuit in the United States District Court for the Southern District of New York against GetFugu (the “Lawsuit”). The complaint alleged breach of contract, breach of fiduciary duty, common law fraud, conversion, willful misconduct and unlawful appropriation of funds by GetFugu and sought to recover the funds which were previously delivered to GetFugu.
Pursuant to the Settlement Agreement, the parties agreed to an immediate dismissal of the Lawsuit with prejudice, and each of SpongeTech and RM released GetFugu, and GetFugu released each of SpongeTech and RM, from any claims, rights, damages or obligations against the other, including without limitation and causes of action that either were asserted or could have been asserted in the Lawsuit. In addition, GetFugu agreed to issue to SpongeTech and RM an aggregate of 5,250,525 shares of common stock of GetFugu (the “Shares”) in consideration for the $1,750,000 which GetFugu had previously received, and granted piggy-back registration rights with respect to the Shares. SpongeTech will also be placed on GetFugu’s mobile search platform.
http://sec.gov/Archives/edgar/data/1201251/000114420409057095/v165164_8k.htm
I'm talking about spongetech giving spongetech shareholders a getfugu stock divy, and now hutton having enough shares, where if sponetech were to issue a divy, hutton could now make good, not forcing the short squeeze.
but may dispose of them.
Yes, thats the whole point.
Remember spongetechs loan to GETFUGU? We if you read through getfugu's fillings, it looked like the "investor" was going to get stock. It would only make sense that if SPNG got the stock, they would divy it to us shareholders. That divy, would make it impossible for spongetech naked shorts to gather enough getfugu to make good, thus forcing them to cover their naked short position in spongetech. Problem solved, shorts blown out.
Then I read about this fund who has this huge interest in getfugu, and one could only think this fund is related to the naked shorts out in asia, and cut a deal with getfugu, to get shares to make good on the SPNG getfugu divy.
Wonder if this has to deal with some problems James Smyth has going on in the Broker Dealer Client Group, which I'm pretty sure would be the part that deals with orders for naked short selling on behalf of the clients/hedge funds? First you have Tom Joyce dumping shares, now this guy being transfered. Wouldn't want to own this stock, stocks off 40% from its highs, now you have this....
OH NO.
(b) On January 7, 2010, the Company announced that James P. Smyth, 54, Executive Vice President and Head of Broker-Dealer Client Group, of Knight Capital Group, Inc., has been named Senior Advisor and Senior Relationship Officer for the Company, effective immediately. Mr. Smyth’s responsibilities as Head of Broker-Dealer Client Group will be re-assigned to others within the Company, as part of a reorganization at the Company, which also includes its new segment reporting which will separate Global Markets into two business segments, Equities and FICC (Fixed Income, Currencies and Commodities). Mr. Smyth continues to be an Executive Vice President and a member of the Executive Committee, reporting into Thomas M. Joyce, Chairman and Chief Executive Officer, Knight Capital Group, Inc.
http://www.sec.gov/Archives/edgar/data/1060749/000119312510003967/d8k.htm
Looks like shorty is ready to make good on the Getfugu Divy paid to spongetech shareholders huh?
http://www.sec.gov/Archives/edgar/data/1398667/000114420410001174/v170991_sc13g.htm
Fair Value thoughts,
25M a month in sales
12 months
20x pe
20x profit margin
= 1.2B I think is fair value market cap. Remember we bought dicon, so our profit margin should be higher. And 20x PE is low IMO, we grew 1000% YOY, and continue to come out with new products, and big agreements. Remember, MM said there best products not released yet. Kitchen sponge is gonna be huge.
So divide 1.2B by whatever you want as far as OS. I have done the math and get an OS of 349M, based on RME only having 66M shares, they retired the balance, just as they did back in april when we went from 1.2 shares down to 722M. Then factor in buybacks, we get 349M. So 1.2B/349= $3.43 fair value.
Now base the number off the rumored 322M OS, fair value = $3.72. Take notice to the rumor of 322, and how pike owns 160M, so that makes them own exactly 49%, interesting indeed.
Add what I call the squeeze multiple, and who knows how high this puppy could go. 5x Fair value doesn't seem nearly out of the question given naked short position is 5 times the outstanding shares, and with a float of zero, Bye Bye shorty.
The company is worth way more than $1, not even factoring in the short squeeze. The problem is, fighting all the attacks created by the naked shorts and there relationships they have at SEC and FINRA.
Billions are at stake for the shorts, and its no mystery why there is so many attacks coming at the company from all different directions. When criminals are on the verge of losing billions, there is nothing they won't resort too.
I really hope that spongetech is the company that not only overcame the odds and became a huge company, but also the company that blew out the shorts and cleaned up all the trash on the OTCBB and Pinks. What a service to american startups.
The day we get to OTCBB, I wonder what volume is going to be like? No more airshares at that point, only short covering buying and funds and retail on sidelines ready to jump in. You could make case for why volume will be massive, but at the same time, with offical float owned, not much will be out there for trading.
Very interesting times ahead, just hope Finra and SEC quite jerking us around.
Volume is odd, I liked the pickup last week, but I"m shocked its not higher on the pike news. Its clear they now own 49% of the company and things are coming. Who knows when, I thought soon, but the fact volume isn't picking up is odd.
All Longs, Please Purchase Pink Panther now on website. I just ordered mine, $12 including shipping. Small Price to pay to give MGMT a little thank you for all there hard work. Plan to use it on yourself in the shower the day the short squeeze starts, maybe shorty should purchase too, giving i'm sure hes going to be sweating quite a bit.
https://www.spongetechs.com/Child-Care-s/40.htm
usually relating to dicon Something recent?
I disagree, and that is why I'm long. Remember, there is that strong group of longs looking for $18 PPS on the short squeeze. Goodluck.
http://www.turnkeyse.com/TSP/TSP_Nov_09.html
Which brand had the most successful year in sports?
•SpongeTech - 11.03%
•Gatorade - 10.68%
•Under Amour - 9.61%
•Nike - 7.47%
•Bud/Bud Light - 6.41%
•Land Shark - 4.27%
•AT&T - 3.91%
•Visa - 3.56%
•Adidas - 3.20%
•Coca-Cola - 2.85%
•Subway - 2.85%
•Coors/Coors Light - 2.49%
•MasterCard - 2.14%
•State Farm - 2.14%
•Verizon - 2.14%
•vitaminwater - 2.14%
•Miller/Miller Lite - 2.14%
•McDonald's - 1.78%
•Sprint - 1.42%
•Pepsi - 1.07%
•IZOD - 0.71%
•American Express - 0.36%
•Other (Please specify) - 2.85%
No response/Not sure - 12.81%
RISK 4 CENTS, UPSIDE 300+ CENTS. $500=$37k+. Clearly defined risk, and you’ll never see a better risk reward ratio. Once in a lifetime shot. There are two sides to the spongetech story, the long and short, I personally am long and have been for a while. I feel 50x better about the company today, then I did back in Feb, but you have to make the choice. If your on the sidelines, and thinking about getting in, just know, that if you subscribe to the long argument, you may not have much time. Pike, a hedge fund, just made a filling increasing there holdings to 160M. Now, it sounds like that is exactly 49% of the outstanding shares, under the new share structure.
I must admit, I’d be surprised after the Pike filling if the market even gives you a chance to get in down here, seems something is very very close, the climax, 10k? But if it does, just know, this might be your last shot.
Interesting, so Pike is Buying but shorting at the same time? Can you please help me explain?
It can't be explained, it can only be spun. The fact PIKE now owns 49% of the company is very intersting. I expect something soon as far as price explosion.
MODS, is there a reason this is a sticky note, and the settlement between Michael Popovsky and spongetech in Decemeber is not a sticky?
I did however notice that many companies that did eventually file a Schedule TO, had similar proceeding fillings as spongetech has. 13G, 13G, then 13D A/D. Looking forward to this week.
The sad thing, is that in the end people will be like, "see, he was right". We all know good news to come and much higher prices, no mystery there. Its the time issue. Maybe I should start saying, Today is the day, every single day. Then when it does happen, I can say, I CALLED IT TO THE DAY.
Link and proof please? Typo, no idea what your talking about.
33% difference between bid and offer? Please. The best is that you can't even better a bid or an offer.
Going through the SEC fillings gathering the info on buybacks and arrangements with RME, then using complex mathematics, addition/subtraction, I get the 350 figure.
It will be nice when they are finally gone. 2 days ago I wanted to see what the market for SPNG was, so I sold 100 shares at market. Filled at .03, low of day. Then bought 100 at market, filled high of day, .04, 10 seconds later. These guys are thieves, and I look forward to there day of wrecking as much as their absence from the MM business.