Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Imagine that.
Maybe the DTCC is beginning to realize when a scam company goes under, the DTCC gets dragged into a long and costly resource drain in locating phantom NSS, audit trails, legal proceedings, etc.
If I were the DTCC, and a company is obviously a scam, I would give them the boot too.
80% of DTCC's cost probably comes from 20% of the market...microscams! (Penny Stocks)
DTCC raising the bar required to use their services would be a good thing!
Maybe Mr. Hubbard will be issued an obstruction of justice charge for only making matters worse than it already is for shareholders.
An attempt to confuse the court and prevent justice from occurring!
I hope the judge is getting irate! I hope the judge starts targeting the "fanatics"!!!
so fraudulent
So there is NO t-shirt store?!?
People continue to ignore all revenues have been traced back to the sale of shares...
Bell Pharmaceuticals was just another smokescreen played out by M&M; his "devoted followers" continue to help propagate the confusion onto the masses.
Otherwise, it's a non-issue. Has nothing to do with the fact, all money has been traced by unregistered shares via forged opinion letters!
Coded Message to GA Boys = Sell more 504s!!!
I'm sure not addressed in the latest round of BS motions from Moskowtiz's minions!
Yes...M&M are good at convincing people to help him clog the judicial system.
The SLB admits they are following the direction and lead of Moskowtiz; can it be any more overtly complicit?
These motions are nothing but more diversions, smokescreens, wild goose chases, and will equate to more wasted time and effort for all involved!!!
They are making a mockery of the judicial system!
No worries.
The government has already shown how some 98% of all SPNG revenues were generated from the sale of shares!!!
Not 40,000 storefronts selling sponges.
Than M&M decided to obstruct justice by forging purchase orders and fabricate $50M of sales. Once caught red-handed, they began pleading the 5th!
"...during July and August 2009, RM Enterprises received $8,207,750 from an entity named Acacia Investors LLC in twenty-six separate wire transfers."
http://viewer.zoho.com/docs/kCdFc
(para. 35, pg. 15 of 19)
So, why would RM Enterprises be receiving $8.2M from an offshore hedge fund?!?
Hmmmm....did Mr. Hubbard, Booth or Venkatesh address this?
Suspensions are OK...REVOCATIONS are better!
SPNG needs to be REVOKED!!!
Got my hopes up...was looking for SPNG on that list!!!
Yet... ;) !!!
Did it ever? Got T-Shirt?
Real Evidence! (not 450 pages of fluff!)
Acacia was coined by the SEC's Division of Enforcement as "one of the largest beneficiaries of Spongtech's distribution of shares."
"...during July and August 2009, RM Enterprises received $8,207,750 from an entity named Acacia Investors LLC in twenty-six separate wire transfers."
http://viewer.zoho.com/docs/kCdFc
(para. 35, pg. 15 of 19)
Exhibit EE
Excerpts from Acacia Investors LLC brokerage account statements showing sale of Spongetech shares received pursuant to various attorney opinion letters
http://www.scribd.com/doc/33261804/Exhibit-Complete
(starting at pg. 109 of Scribd document, pg. 18 of 34 of original PACER document)
Date of SPNG securities sales via Acacia
- 07/13/2009: 10,000,000 @ 0.1122 for $1,121,970.16
- 07/14/2009: 5,000,000 @ 0.1025 for $512,485.82
- 07/15/2009: 5,000,000 @ 0.1059 for $529,485.39
- 07/16/2009: 9,100,000 @ 0.0995 for $905,425.72
- 07/17/2009: 900,000 @ 0.0852 for $76,677.02
- 07/20/2009: 5,000,000 @ 0.0792 for $395,988.82
- 07/21/2009: 5,000,000 @ 0.0895 for $447,467.49
- 07/23/2009: 5,000,000 @ 0.11066 for $553,284.78
- 07/24/2009: 5,000,000 @ 0.1138 for $568,984.37
- 07/30/2009: 5,000,000 @ 0.146 for $729,980.23
- 07/31/2009: 5,000,000 @ 0.1543 for $771,479.17
- TOTAL: 60,000,000 @ 0.1117 for $6,703,228.97
Continuing through Exhibit EE, you will notice Acacia received these shares and the corresponding legal opinion letters leading up to their initial sell off (starting 07/13/2009) and through their entire dilution of SPNG securities in the month of July.
GOT TSHIRT?
50% Haircut this week, huh?!?
How much lower can EIGH go?!?
And curiously enough, those little breadcrumbs led those message board posters to several other 'questionable' securities, that he is definitely involved in.
I still like the $400M figure. It's laughable.
A little "contradictory", isn't it?!?
HEADLINE:
Attorney Kenneth Eade Has No Involvement with Supatcha Resources, Inc.
http://www.prweb.com/releases/2011/02/prweb5021714.htm
But later in the PR, he points out...
I know.
Too bad people (retail investors) don't understand that the only people making money out of such frivolous lawsuits are the lawyers--and scamming CEOs.
Scamming microCRAP CEOs take ill-gotten gains from selling shares to naive shareholders, and hire a lawsuit-mill to file frivolous lawsuits. Than paid shills publicly rally behind these actions, and suck more NAIVE INVESTORS into the entire scam!
It's so FRICKING OBVIOUS!!!
Just wish the judicial system would catch on and prevent such bogus BS from happening.
GOT TSHIRT?
Didn't think so...
Geez! Ridiculously unbelievable!!!
Time to start a movement to heighten awareness how microcap scams are abusing the court system to continue perpetrating their fraud against the investing public.
Let me guess: the so call "longs" (most likely paid promoters) are rallying behind Lecere's lawsuit! Just a guess!
Wouldn't it be great to start a fund (or insurance company) that allows private citzens to blast these scum and if a lawsuit if filed, the scambags are counter-suit into oblivion!!!
MESSAGE BOARD POSTING INSURANCE
Hmmm...
Seems as though Mr. Booth is working directly with and receiving direction from Steven Y. Moskowitz!
He's a credible, "pleading the 5th" non-witness!
Didn't SPNG's trustee state Mr. Moskowtiz is completely "out of touch" with reality.
Oh yea, here's how we put it:
I've noticed drawing all of these resistance and support lines on a OTCBB or PINK SHEET security is foolish!
Neither do I. This particular image circulated around previously.
Maybe you should consider contacting the notary public from CT...her name is prominently displayed on that document. She should have a record of who signed and dated that document on March 5th, 2010.
That the purpose for having documents notarized...proof!
Can you show me any CDIV document indicating Jerry Williams as an officer of CDIV? 10Q? 10K? Anything?
How and why did this Jerry Williams sign on behalf of CDIV?
Get used to it.
Something is rather peculiar about WNBD!
Actually, the system has gaping holes that are routinely abused by fraudsters knowing the SEC is undermanned/understaffed to catch them and enforce the law.
However, seems as though the current US administration is taking a stronger stance as more and more arrests are being made against inside traders and "promoters" that inflate prices in P&D-type initiatives.
I have yet to see a prosecution of a "bash" campaign being used by shorters.
Rigged wouldn't be the term I use to describe the system = broken fits better.
Interesting point; so let me get this straight...
Eade asserts he has been libeled.
Isn't Eade's accusation that iHub is committing securities fraud libelous too? I am curious to see what proof he has to draw such a conclusion!
Conducting a Google or Yahoo! web search on the terms "Eade iHub" results in a ton of hits indicating these wild and outrageous accusations. How does this make him look any better? Hypocrisy? Double standard?
Accusing iHub of paying so called "bashers" to become moderators/admins of message boards and "bash" stocks and alter posts seems a bit libelous IMO.
The burden of proof rests squarely on Eade's shoulders to show how a logical person can ascertain such a claim.
But then he states he's been "bashed" (libeled)...but as Janice points out...he's not a stock or security?!? I cannot find any concrete examples where Eade was labeled with derogatory or malicious terms, etc.
People simply pointed out his connections with various securities that seem to have had run ins with the SEC, trading suspensions, and possible P&D patterns. At the same time, domain name registrations and articles of incorporation identify him as the registrant and/or his addresses (home, office, place of business) are listed as the points of contact, along with email addresses and phone numbers.
And than, the unusual coincidence that a Dale Bernhart is the name used to to register quite a few securities' websites, all that had some connection to Eade.
Confused?!?
Whoa! Never thought about that...
So, is Eade alleging iHub is out to libel individuals with malice?
And what would possibly be iHub's "gain" for allegedly doing this again?
The questionale security I'm most intimately familiar with (SAEI) was suspended for "the accuracy and adequacy of publicly disseminated information".
http://www.sec.gov/litigation/suspensions/2010/34-63568.pdf
I'm at a loss understanding the connection here.
Wouldn't it be more prudent to show where which poster specifically caused harm with malice first?
That is the "first test" for such a lawsuit--burden of proof to show prima facie evidence that logically concludes $400M worth of damage occurred with malice?
Or is it just that iHub allegedly hires "bashers" to comment negatively against particular stocks?
Wasn't SAEI cited for providing false and misleading public information?
Personally, I vowed not to leave until I saw justice served.
Justice for Me = M&M in orange jumpsuits in handcuffs being escorted out the the court room to serve consecutive 25-year sentences!
So Eade is lodging a lawsuit against iHub for hiring paid bashers?
Did I summarize that correctly?
Are there any specific examples attributed to specific posters that caused him the $400M worth of damage, with malice?
I am trying to understand what this all about.
puppy's opinion sure have been correct. Unlike other's "opinions" such:
- 10Qs and Ks will be filed "soon"
- SPNG is buying back shares
- SPNG O/S is only 700M
- There will be no SEC involvement
- There will be no suspension
- The Wells Notice was to investigate NSS
- The Mutts were cooperating and everything will be cleared up
- The indictments and arrests were bogus
- The $2M ea. wasn't that bad for bail
- SPNG will not go to 0.0001
- SPNG will not go bankrupt
- SPNG will reorganize under Chapter 11
- SPNG will prevail from Chapter 7
Seems as though puppy has been spot on so far... Maltz, Maltz, Maltz!
Ingrain the name in your mind. Maltz will be on the scene soon! Liquidation proceedings moving forward!
Maybe someone can buy the whole thing for under $100K!
Going once, going twice...SOLD?!? Market Cap is stuck at $300k, but that is WAY OVERVALUED for a brand associated with corruption and fraud!
The perfect reason for prospective investors to jump in "head first" of course! Illiquid securities...money checks in, but can never check out! Yeah...I wanna buy!
SEC Being Uncooperative?
http://www.scribd.com/doc/49752444/2-28-11-USA-v-Metter-Doc-101-Letter-Discovery-Status-Update-by-the-Government
Or are they just returning the favor!?! LOL Time to start stringing along our favorite EX-corporate officers!!!
He laments...what a shameless good for nothing POS!
That's all he can say to his estranged wife and father-less grandchildren.
Deplorable, at best!
MALTZ
The new pertinent name everyone should start getting acquainted with when talking about SPNG!
Can't wait to see the SPNG memorabilia that will be auctioned off by David R. Maltz & Co. Inc. We can "shortly" start seeing all the SPNG crap on their website: http://www.maltzauctions.com/
"Soon" isn't fast enough!
Maybe you can buy an entire case of SpongeBob sponges for $10. 50 per carton. Nickelodeon may purchase all them to have them DESTROYED in order to save it's good Trademark. I'm sure Nick loathes at the thought of have M&M associated to them!
Just a mere $100K WNBD does not have...sure. You can change anything you want. Just charge the shareholders!