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Daily volume spikes but share price never really seems to move very much.
Posters here cheerleading saying "This and that price getting hit!" but never a real move.
Longs will have to admit lots of lies are being told in this company.
No 8K/A filing of the R/S cancellation?
So perhaps SPNG mgmt can come out with a PR giving a full accounting of all the share structure numbers as they currently sit right here right now
Hearing the share structure straight from the Transfer Agent is the only way anyone will believe anything.
So the A/S went from 2.75B to 3B, no 10K filing and no hopes of NASDAQ uplisting at this point in time?
Look for Dividend Type Reverse Split for symbol SPNGE on the daily list at the octbb.com website today.
Restating 2 years might take longer than the new deadline date.
No split, no NASDAQ.
OTCBB Daily List will reflect the R/S info tomorrow
"split will be effective on the close of business on September 22, 2009,"
http://www.sec.gov/Archives/edgar/data/1201251/000114420409047948/v160127_8k.htm
Without the trades constatntly placed above the ask it is questionable if the stock would move with legitimate trading.
Any confirmation from FINRA on the status of the R/S?
FINRA
1-866-776-0800
Press option #1.
Spongetech products not selling very well and
SPNGE still listed on REG SHO list
http://www.nasdaqtrader.com/Trader.aspx?id=RegSHOThreshold
Lot's of trades above the listed ask on L2.
SPNGE on the Regulation SHO list
http://www.nasdaqtrader.com/Trader.aspx?id=RegSHOThreshold
AYME at the top of the ask.
"approximately" was the word used in the NT-10K filing.
It could mean just about anything.
Can't be garbage, no retraction from the Post and no complaining from Spongetech management about it saying the Post "mis-reported" the article in a PR today. The feed store PR was the only release issued today.
Well, that's my 15 posts for the day, toodle-loo.
And any comment on the NYP article?
That's funny- 1 mil is not so bad though in terms of tax evasion. He's got the money....
Hey- I'll pull the details on the suit and PM it to you. Should be entertaining....
You forgot to mention the "Not Spongeworthy" article in the NY Post today. Did you see where Metter lied about his affiliation in RME?
"SEC filings name Metter and his chief operating officer, Steven Moskowitz, as "control persons" and directors of RM Enterprises. But Metter denied to The Post that he is an RM Enterprises officer, saying it was Moskowitz's relationship."
http://www.nypost.com/p/news/business/not_spongeworthy_ZZZ1QlWllnBaSYuVjqYysK
Also, have you seen the Douglas Furth tax case?
United States of America v. Furth
EasyEdit
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Keyword tags: None
Plaintiff: United States of America
Defendant: Douglas G Furth
Case Number: 1:2009cv02097
Filed: September 10, 2009
Court: Ohio Northern District Court
Office: Cleveland Office [ Court Info ]
County: Cuyahoga
Presiding Judge: Judge Dan Aaron Polster
Nature of Suit: Federal Tax Suits - Taxes (US Plaintiff or Defendant)
Cause: 26:7401 IRS: Tax Liability
Jurisdiction: U.S. Government Plaintiff
Jury Demanded By: None
Amount Demanded: $1,025,000.00
http://dockets.justia.com/docket/court-ohndce/case_no-1:2009cv02097/case_id-160914/
Yes, a feed store PR did happen.
Any thoughts on the declining share price?
Who keeps trading above the listed ask on L2?
Looks like they're serious about taking it sub .10 now.
MM's money to support a .10 bid appears to be dwindling. At least half of the .10 buyers are now sitting in the .09s
The stock is desperately trying to hold the line at .10 the same way they tried to hold the line at .20, they failed at .20 let's see if they will fold at .10
Embarrasing for shareholders to watch their CEO lie and point the finger at the CFO/COO.
Lots of drama unfolding here.
Why would Metter publicly lie and distance himself from RM Enterprises then point the finger at Moskowitz? Something seems very suspicious here.
Shocking that Metter would blatantly lie like that on record with the Post.
Metter denied to the Post he is a RM Enterprises officer,?
"Michael Metter has been President, Chief Executive Officer and a Director since May 2001. Mr. Metter has served as President of RM Enterprises International, Inc., our majority stockholder, since April, 2001, and as its Chief Executive Officer since March 2, 2004."
http://www.nypost.com/p/news/business/not_spongeworthy_ZZZ1QlWllnBaSYuVjqYysK
And the stock closes red, go figure.
simple fact is that someone accumulated a lot of shares this morning...
I was watching it on L2 and so did many others.
however how many stocks have you been in or seen... that push up from the lows on news like spng got today...
Did you happen to notice the share price didn't rebound until someone started to systematically execute trades above the listed ask price?
The NT-10K was turned into a press release in regards to $50M in sales something or another too. I've never seen a NT 10-K abused in that fashion until now. So any verbage by Mr. Moskowitz in that filing shouldn't be taken seriously.
It appears that Cheez has taken the liberty to answer a post from you directed to me, oh well.
One thing in particular I am anxious to see in the re-stated filings is the accuracy of the amounts of money (if any) paid to Spongetech by Dubai Import & Export, New century Media, and SA Trading. At one point in time these 3 companies accounted for 87% of Spongetech's sales. The Illinois Secretary Of State currently lists SA Trading as "Dissolved" and New Century Media as "Not Good Standing". Dubai Import & Export's principal offices appear to be located in an apartment (Apt. 2N) in Skokie IL:
Entity Name DUBAI IMPORT & EXPORT, INC. File Number 66320766
Status ACTIVE
Entity Type CORPORATION Type of Corp DOMESTIC BCA
Incorporation Date (Domestic) 10/29/2008 State ILLINOIS
Agent Name HUDA A. ALSHAIKHLI Agent Change Date 10/29/2008
Agent Street Address 9016 LA CROSSE AVE 2N. President Name & Address
Agent City SKOKIE Secretary Name & Address
Agent Zip 60077 Duration Date PERPETUAL
Annual Report Filing Date 00/00/0000 For Year 2009
Entity Name SA TRADING INC. File Number 50220338
Status DISSOLVED
Entity Type CORPORATION Type of Corp DOMESTIC BCA
Incorporation Date (Domestic) 04/16/1973 State ILLINOIS
Agent Name MASARU FUNAI Agent Change Date 12/19/1988
Agent Street Address 1 E WACKER DR President Name & Address RYOHEI SHIBAMOTO 4-9-17 DEN-EN-CHOFU OHTA-KU TOKYO JAPAN
Agent City CHICAGO Secretary Name & Address VOLUNTARY DISSOLUTION 12 21 90
Agent Zip 60601 Duration Date PERPETUAL
Annual Report Filing Date 03/21/1990 For Year 1990
Entity Name NEW CENTURY MEDIA GROUP, INC. File Number 65636891
Status NOT GOOD STANDING
Entity Type CORPORATION Type of Corp DOMESTIC BCA
Incorporation Date (Domestic) 07/09/2007 State ILLINOIS
Agent Name LOUIS V. PAVONE Agent Change Date 07/09/2007
Agent Street Address 1920 SOUTH HIGHLAND AVENUE President Name & Address JOSEPH J. LOSS 1920 S. HIGHLAND AVENUE LOMBARD 60148
Agent City LOMBARD Secretary Name & Address SAME
Agent Zip 60148 Duration Date PERPETUAL
Annual Report Filing Date 00/00/0000 For Year 2009
http://www.ilsos.gov/corporatellc/CorporateLlcController
On September 11, 2009, the Company received notification from the SEC that, as a result of the revocation of Drakeford’s registration with the PCAOB, the Company would be required to have its financial statements re-audited by a PCAOB-registered firm for any year previously audited by Drakeford in order for the Company to include such financial statements in its future filings with the SEC. Accordingly, the Company’s financial statements for the fiscal year ended May 31, 2008 are currently being re-audited by the Company’s current independent registered accounting firm, Robison, Hill & Co., A Professional Corporation, a PCAOB-registered firm, in connection with the preparation of the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2009.
http://www.sec.gov/Archives/edgar/data/1201251/000114420409048616/v160571_8ka.htm
Yes indeed that is your opinion. The facts are that the SEC is only requiring Spongetech to re-state at this point in time.
Which proves Spongetech is the only company required by the SEC (out of the Drakeford clients) to re-state financials. Excellent DD cheez, thanks.
(edit)Murphy covered Getfugu yesterday and Spongetech today. Dicon tomorrow?
http://globenewswire.com/newsroom/news.html?d=173414
Which Drakeford clients will have 10K's due?
So currently the SEC is demanding re-stated financials from Spongetech only at this point in time. Thanks for the input, I fully understand it now.
Drakeford had only 5 customers and 2 of which the SEC is demanding a restated financial reports are controlled by Steve Moskowitz?