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they all have to be closed out T+3 or they'll count as FTDs!!!
I have been contacted by many holding in total tens of millions and they are all dumping their shares.
VDrew...RME is essentially like any other investment house (similar to hedge fund)....so they can short and close out accordingly. If they did it then they would have done it prior to 28 Sep. only way to know for sure is tp get access to their account statement. Probably, the SEC has reviewed it and has suggested appropriate action....Wells Notice!
Short Sale Definition:
A short sale is a sale of a security that the seller
does not own or any sale that is consummated
by the delivery of a security borrowed by, or for
the account of, the seller. To determine whether
a sale is a short sale, members must adhere to
the definition of a “short sale” contained in SEC
Rule 3b-3, which is incorporated into NASD’s
short sale rule by NASD Rule 3350(k)(1).
This is because I believe that the FINRA calls a sale without a buy in the open market a short, when that could also be a company dumping shares(Dilution). I could be wrong, shoot me down if I am.
http://www.sec.gov/answers/shortrestrict.htm
I could not find it anywhere on the links you provided..may be I missed it...if you can cut & paste that would be great. On the other hand if you have better things to do , then don't bother!!!
Ib, valid points....I think we should compare the FTD data with the short volume data over the same period! This will give us a better picture of the demand/supply share volume! Also an implicit assumption we are making is that all the B/Ds are compliant i.e 100% of all B/Ds are report the Short trades and the FTDs.
REMEMBER - FINRA's "Short Position" doesn't necessarily always mean a short position was entered...it could easily represent corporate dilution!!!
REMEMBER - FINRA's "Short Position" doesn't necessarily always mean a short position was entered...it could easily represent corporate dilution!!!
probably you should explain this:
This is because I believe that the FINRA calls a sale without a buy in the open market a short, when that could also be a company dumping shares(Dilution). I could be wrong, shoot me down if I am.
Good post...well said!
patchman, you do not have any evidence that SPNG is pump and dump scheme.......if you do please provide links that 3rd party verifiable content. Thus far,all that the SEC is saying and I am writing this verbatim.."alleges" SPNG, SM and MM of wrong doings........nothing proven so far!!
yup! and this is just the beginning...wait till their medical products, etc hit the market. They have a V8 growth engine!
Great sarcastic question!!!! Try figuring it out...they have an annual $400 billion in wordlwide revenue.
Is that why Walomart took on the responsibility of carrying SPNG products on their shelves?? Put some credibity into your posts!
Martin, thanks for the PM..........looks they are all buys as the price increases progressively from .028 to .03!!
Must Read and re-read...a post from yahoo....insidehedger.......
Who is buying up the REAL float? 16-Feb-10 09:45 pm
Hold onto your hats ladies and gentleman. The real float will most likely be held entirely by 10 people within the next two weeks. At such time, a release will be made to clarify ownership by each group.
When these investors demonstrate the ownership of 350 million shares, the company will ungag the T/A and release the financials. From there, the parties that committed the sins of our misfortune will be exposed, disgorged and destined for financial ruin.
The shares held by retail investors are certainly redeemable, do not worry. Full restitution is guaranteed by the guily few. These are not small houses. They will be exposed to the fullest. Spongetech legal is going to bring down major players, exposing the truth about the current market system.
Expect it to come down soon. Current management replaced as well from what I hear.
Whisper numbers of $5.00 -$7.00 per share once trading resumes on a National market venue. Such a number based on actual O/S and revenue.
A little more patience. Frustration abounds everywhere, but, I am looking forward to the very near future.
Interesting post on Yahoo...must read............
Food for thought.... 18-Feb-10 09:10 pm
and Wal-Mart has Sponges...
1. Americans spend $36,000,000 at Wal-Mart Every hour of every day.
2.. This works out to $20,928 profit every minute!
3. Wal-Mart will sell more from January 1 to St. Patrick's Day (March 17th) than Target sells all year.
4. Wal-Mart is bigger than Home Depot + Kroger + Target + Sears + Costco + K-Mart combined.
5. Wal-Mart employs 1.6 million people and is the largest private Employer, and most speak English.
6. Wal-Mart is the largest company in the history of the World.
7. Wal-Mart now sells more food than Kroger & Safeway combined, and keep in mind they did this in only 15 years.
8. During this same period, 31 supermarket chains sought bankruptcy.
9. Wal-Mart now sells more food than any other store in the world.
10. Wal-Mart has approx 3,900 stores in the USA of which 1,906 are Super Centers; this is 1,000 more than it had 5 Years ago.
11. This year 7.2 billion different purchasing experiences will occur At a Wal-Mart store. (Earth's population is approximately 6.5 Billion.)
12. 90% of all Americans live within 15 miles of a Wal-Mart................
................................
What does that mean??
12million (6mm,5mm&1mm block) traded and price did not budge!!!
Will it be 'the night of the iguana', 'hollywood or bust' or 'twist around the clock'.................
No Kidding...$10 @ the open. Raise your sell orders to $10 ps.
So, who is Ben Savage??
So Curt Kramer is owner of Mazuma Holdings and associated with lot of scams! Funny, if you read his website it portrays him otherwise. So Savage must either be associated with RME or Mazuma Holdings...can't figure out. But what perplexes me is that most of these scammers have established a connection from inside of the company. I don't know how they do it but they do it!!
some points to ponder......
>>> U say probably 150 million unregistered shares sold ..... due to Pensely forged letters (which by the by SM claims innocence)! Do u know who is BEn Savage??
>>> SPNG announces upgrade to share buy back up to 150 Million shares!
>>> Poster reports that Young indicated share buy back could end in Feb 2010!
>>> Company starts opening up on Feb 12 with a positive PR after being in Cold Freeze for 4 months!
I think dawn is close by....!!
$10 @ opening bell!
So, what is your logic in telling people to sell when the company takes on a new symbol & cuspid number? If I remember correctly one of your posts said $5 by June (unfortunately it is no longer there)!!
here the market would have to decide, how much discount
one would give on the stock for not knowing what the fine would be.
Does that mean that the application will be denied if the answer is "yes?"
The issue, to me, is where are we in terms of getting FINRA to approve a 211, once we conclude the investigation and submit the required filings?
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Well, well......I don't know if you have read insidehedger's post on yahoo but his post seems to indicate that SEC is the last hurdle to clear. And DF seems to indicate that they have one more qtr's financial to wrap up that of Nov 2009. Plus, they have been more forth coming with PRs and their website is getting updated....so it looks like they see the light up ahead and hopefully dawn is right around the corner. imo.
from the PR..................
SpongeTech continues to operate its 8 wholly-owned subsidiaries that support its growing business activities. The subsidiaries are as follows:
Dicon Technologies, LLC
SpongeTech® Europe
SpongeTech® Health & Beauty, Inc.
SpongeTech® Kitchen & Bath, Inc.
SpongeTech® Auto, Inc.
SpongeTech® Medical, Inc.
SpongeTech® Pet, Inc.
The Smarter Sponge Company
Gort, I bet you get it right one day!
The Smarter Sponge is a global brand and so I suspect those are being MFG for global distribution i.e Walmarts across the Globe! Whereas 'Americas Cleaning Company' is a Local BRand. By the by I believe VAEV was given the rights to use it...I don't think it was sold to them.
ya, it is in the mail.....SEC's internal mail...station #11!!!!
Neat!! But will the SEC be confused??
PIKE pulling Certs, RME has CERTS and so does SPNG mgmt...so what's left??