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I think you should reread or just read panther's post!!!
To me it looks like they want to postpone the trial and instead focus on plea bargain. This is the DOJ, am I reading this right??
have you considered Private Label??
I would not think so as keeping the sequence maintains the integrity of share issuance and provides a means to cost effectively audit the share issuance. Also I would have thought that Worldwide would have started the issuance from 3800 as certs from 3800 - 4000 were transferred from Olde to Worldwide. So to answer your question, the TA is not following a good practice. Missing sequence numbers have not been used!! IMO
So have you read Olde Monmouth's control reports?? I am not referring to Pike's certs (which is 75Million) but to the OS. If you have spent time on it, and you still think the OS has been depicted accurately, let me know. TIA.
So you are saying was a 'bad' guy while working inside of the Street but it is this very experience that support his current activities in determining where all the shady spots need to be gleaned for unaccounted shares. Here are his sources that he currently uses....
Regarding SM & MMs intent, I think when they saw the SEC was not helping out with the NSS, they decided to make monies by real dilution (as opposed to virtual dilution by NSS), use the monies to grow the business and then buy back the shares. But the playout did not happen as expected!!
I agree regarding the share count. Regarding SM & MM, let the court take care of them. The company can survive.... the technology looks good. What SM & MM did was to make a mundane product attractive by putting a face to it...SPongeBob, Dora, etc. But the better products (higher margins) look towards medical, cosmetics, Agriculture....... need to spend more on R & D. Not much capital equipment required...Turn around is very feasible & practical!! If Reckitt & Benkiser are coinventors ...more credibility. High untapped potential exists.
So why do you want to decimate a living Company, a company that has more than 80 retailers and more than 500 SKUs.? What do you gain by it? Both SM & MM have decided to resign/resigned. And I am not saying they should be let free for their wrong doings if the court finds it so but why don't you include the criminal NSS who have naked shorted SPNG to a tune of 3 billion shares and have made out of about $300Million neatly stashed away in off shore accounts. Even buyins.net has estimated more than 2 billion shares NSS. Tom Ronk has worked inside of Wall Street for years and has enough credibility with what he does. There is also study that has been conducted that say NSS exists and is a dire malaise not just for the industry but for the entire economy especially so when the economy is in a down trend. If you feel confident that there are no NSS why don't you urge the SEC to take a count and cross check all the shares issued. No you will not do that because you want the company to be decimated and have the NSS not pay a single penny of tax. $300Million stolen from retail investors. And you don't call that a fraud! What a world we live in!!!!! Just amazing!!!
Scion, any chance for viewing the exhibits ( containing the TA docs)of doc 46? TIA
Well, first off the Judge needs to make a ruling and it will be done in consultation with both Attorneys. IMO...this will be the next thing to watch as it is not going to be an easy one for the Judge!!!
yup, they want a balance sheet, income statement and a cash flow statement...this game will end soon....agreed!!
leucro, I think it better to be clarified/verified but the normal definition of Income = Gross Sales or Gross Sales is denoted as Income which is what the company earned for a given period. Now Net Sales/Income is Gross Sales/Income minus the Total Expenses. From what I have seen in financial statements.
Are you invested in the stock, SPNG?? Can you say the same about NSS?? Do you think Pike feels he has been robbed?? Obviously some of the answers to some of the questions above need to be answered but it has been shown that NSS robs people of their wealth, not only individuals but the entire country's economy!!
LOL! That's what is called lights off operation.....total automation!!!
well, well, well, ...... no comment..................
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Looks like the shake up has begun...Not sure if its good or bad
Out of Office AutoReply: SPNG?
From: Barry Kolevzon (barry@spongetech.com)
Medium riskYou may not know this sender.Mark as safe|Mark as junk
Sent: Tue 6/15/10 3:26 PM
To: ########
Barry Kolevzon is no longer employed by Spongetech Delivery Systems, Inc.
All future inquiries should be directed to Steven Moskowitz at
steven@spongetech.com
posted on a MB...Ya...........
We should know the details of the plea bargain......essentially what happens to SPNG, Mosko...Metter has resigned......,...cont'd..!!
I. But my position is just a lottery ticket, something I can afford to loose. However, I am ready to jump all in....Wednesday!!!!
You think otherwise?? Please explain. I am all ears. I may not be able to respond today but I will!
patchman, what kind of logic is that...Pike spent $18Million buying up SPNG shares and now you say he is funding the law suits!!!! Is that inverse logic?? IMO..Pike is after Dicon Technologies LLC. He will emerge a winner. The Technology is simply awesome.
Heard on the street...Eddie Lampert is looking at buying out/taking SPNG private. Just a rumor.
PS. Hint: Pike.
yes, when they find out how many short sales were mismarked as long!!
were any of the short trades mismarked as long....we'll never know!!!
I think Sun's message was , if you are not a gambler, you shouldn't be buying now!!
LMAO...too many shares trading today!!
Too many shares claimed by SEC and too little evidence...that's my take. For example Forms 3 by Mosko, Metter & Lazauskas claim RME has only 66Million shares....not by one but by 3 of them...are they lying right on to SEC's face?? Personally, I doubt it! Mind you Lazauskas name has not been mentioned at all in the SECs allegations.
Next, let us say the SEC is right about the OS..they verified the TAs documentation and also Mosko has a signed affidavit saying the OS is 3Billion, then why is it that they 28Million shares of Class B stock Authorized and Issued?? They, the 4 of them Mosko, Metter , Lazauskas & RME now have 2,800,000,000 votes plus the 2.5 billion of common equity which totals to 5,300,000,000 votes. Why would they need so many votes when 51% of 3 Billion would give them 1,530,000,000, majority power??? The answer...there are 6Billion naked shares.
Next, let us say in-spite of the above, Mosko is sticking to his guns claiming OS is 720 Million, then there are approximately 2.2Billion naked shares because M&M&RME have 2.8Billion votes.
So, it seems that the SEC has a done a shoddy job of investigating the share distribution. If they could trace the 300Million shares that RME got & converted to Cash and back into SPNG's bank account then why did they not get the details for the other 2Billion. Certainly, there is an imbalance in the TAs records...Olde Monmouth screwed up and I don't know the reason. Hopefully it will come to light soon!! Counting shares in the float is no easy task, even though some you think it is an easy calculation.
Here's why....please read the following quotes............
that rule of exposing all areas where shares can be concealed should apply uniformly to all market participants, i.e not only the TA but also DTCC, B/Ds, making hedgies more transparent, removing the proprietary accounts rule, etc...
Jack Sun, I like your disposition...settlement of Open Balances. As I see there are 3 Issues>>>>>>>>>>>>>>>>>
1.Legal>>>>> apparently you feel confident that it can be settled satisfactorily to all parties. Hence it becomes a non issue!!
2.Business>>>> The Technology looks Green & Great...just what everybody needs!! It has been proven i.e the derivative products have been well accepted by the Markets and there are a whole lot of more products yet to be spun off from the technology. So far there are 3 segments: Cleansing, Cosmetics & Medical....Cosmetics & Medical have higher margins. Looks like you have access to Capital & Management Expertise...great......but you need to put the right blood into the company as it is in a stage of high to exponential growth. Pike has invested heavily , 186Million shares and so a meeting of minds may help. Finally, If I were you I would like to see the License Agreement between H.H.Brown & Dicon Technologies (made in 2007 Nov)...never was filed with the purchase agreement....and may be Wayne Celia can come back as Chief Scientist.
3. Share Structure...needs to be cleaned out.....the company doesn't need a whole a lot of capitalization as the equipment is in place....I think they mainly need WC ...and so the surviving company should be fine with just Common Equity....no derivatives please!!
Bottom line: Capital & Management Expertise and if you have these 2 it is a Strong Buy, even if they find the OS is 3B as this company can make $1Billion in less than 3years!!
I guess you are preaching from what you practice and you will do the same.
And of course M&M have a law suit against NYP, et al for $129 Million...this should help them pay their other law suit liabilities. I guess in either case the probability of winning is the same ...at this point in time 50-50.
patch, u know Sykes by his first name huh?? IMO....your motion for dismissal will be rejected. The allegations filed implicates the group of defendants as a meshed networked team that conducted a bear raid on SPNG. Now if the Judge accepts your motion for dismissal, then he will effectively delete a link and consequently will jeopardize the case. So in my books your motion will be rejected!!
good to have your feedback and I hope the author makes a note of it.
Edit: that post/analysis by Jay does not make any conclusions but highlights the timing,place of events and peoples activities. The question is; is there a connection and if there is what has it resulted in??
Good read and great analysis....PArt I..........................
Letter Sent to the OIG and SEC, Part 1 27-May-10 04:11 pm
Greetings;
As a shareholder of SPNG stock, I have been researching information and following events closely throughout this ongoing investigation. The purpose of this letter is to communicate to you information about certain individuals and businesses that I feel is pertinent to your investigation. I therefore ask you to consider the following as it relates to Timothy Sykes, Michael Vlaicu, and David Patch.
Both Sykes and Vlaicu have ties to Covestor Investment Management. Sykes is rated their # 1 trader, as he indicates on his website. (Some links may need to be copied and pasted into your URL address bar).
http://www.timothysykes.com/
Vlaicu writes the StocksHaven blog, which appears on Covestor's website, as recently demonstrated.
http://www.covestor.com/mbr/stockshaven/...
In addition, Sykes writes various articles which appear on the Covestor site as related to Vlaicu's blogs, as seen here.
http://www.covestor.com/mbr/stockshaven/...
Vlaicu is the President and CEO of MiV Investments, of Ontario, Canada; as well as publisher of The Market Financial newsletter, a subsidiary. He also writes articles for various financial websites, such as the one regarding Hemispherx from Seeking Alpha, to which Sykes submitted a comment.
http://seekingalpha.com/article/141846-h...
Vlaicu also authored and published a document on docstoc.com regarding IVOB. In this document, Vlaicu said the following about SPNG antagonist "The Dean," on Jan 14th.
"Not only has The Dean been teaching the College Stock Community about $IVOB for the past six months, but The Dean is also the front-runner of the company's investor-awareness program."
http://www.docstoc.com/docs/22392482/The...
Doesn't look SPNG is halted but the iHUB board has an eerie silence!!
IMO.....Mosko signed off on the 3B OS as the TAs books showed 3B OS. Worldwide inherited the books of Olde Monmouth. The question why did he not back off when he he is publicly insisting on 723 M..... for one if he does not agree, then he would end up issuing 20Million shares to Cresta and two, he would have to open up SPNGs books to show the gap. I think Mosko knew that the investigation was heading the direction of Justice! And Mosko would then willingly put everything on the table!!
Somethings to ponder...the June TA report is out of balance. There are a lot of missing entries inclusive of Shares given to RME and Shares given to SPNG for cancellation & into the treasury. SEC claims the OS on 16 April was 1.6B and by end of May the AS was 2Billion...so supposedly the OS was 2 Billion by end of May. If this was the case then why didn't TAs report reflect the net Issuance of 2Billion shares.
The June TAs report (Olde Monmouth) has an imbalance....who created the imbalance, SPNG or the TA? If Mosko is insisting that he did not have anything to do with the forged opinion letters, then the TA caused it and the TA is responsible for recovering the imbalance. Of course the TA would have required the help of SEC & DTC to recover the imbalance. On the other hand if SPNG was responsible in creating the imbalance then the Company is responsible to recover the imbalance which may include purchasing shares from the open market.
OldTymer, may be your source is right.....does your contact have connection to Wayne?? Is he or was he close to Wayne?? Just trying to eliminate all possibilities. Walmart throwing out cosmetics is a big loss especially since they have been in Walmart for a long time!! By the by ask your contact if he knows the owners of Taikone/Dicon Pacific Technologies.....it is a Wholly Foreign Owned Enterprise.
this one is a revelation! but it also shows where you are getting your information. there is only one entity that can legally intercept emails. per chance do you have any info regarding who the owners of Taikone could be??