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Important thought, read. Great Albus thanks for clearing that up. I just had an interesting thought, you bring up that Spongetech could face a hearing regarding recocation of its registration to be a publicly traded company. This is actually really scary, because the more time that passes with no 10k, obviously the chances get higher and higher, this happens. What if FINRA and the DTCC were holding up SPONGETECH from filling, asking them questions, delaying, dragging their feet, all to stall. In the meantime the SEC is saying take your time with FINRA and DTC, your okay. Then perfectly planned and coordinated, the SEC swoops in, and revokes trading for lack of filling? Completely stabbing, sure it would be unfair and total BS, but hey, the game is stacked against the little guy
Wow, would this not be a huge out for shorty and the short exposed MM's? Would this not solve his short position? Or at least delay his day of recokening quite a bit, perhaps over a year? Wow, scarying thought. If we got revocted, we wouldn't be able to get our money would we. Interesting.
I would imagine shorty, the MM's, and anyone with exposure is lobbying the SEC hardcore to get this hearing underway. I don't doubt that one bit, all behind the scenes too.
ekkk.
I came to a similar conclusion. Is it really even their place to care about us? I mean if the float is officially owned, certificates and all, by a group of less than 30 people, is it there job to be held accountable or answer for the 75,000 shareholders holding phantom shares? Are we really "shareholders" if we hold fake stock, in the eyes of the company? Its an interesting question, and just one of the many sickening things about the DTCC and its phantom share program. Basically the naked shorts, the DTC, and the Market makers all facilitated the counterfeiting of stock, and I really don’t know if MGMT has to give a blank about us. We more so I guess are lucky we are riding their coattails, and have to hope they go out of their way to help us out. We are of no importance to them, if all retail sold ever single share, MGMT couldn’t care less, they know the real shares are all owned, we are nothing but getting a free ride? Although I think MGMT should remember a lot of us have supported the company in buying their products, advertising their products, and doing everything we can to help their sales. I personally stop in stores all the time, make phone calls, and ask for spongetech products.
My only issue at this point is time, I just wish they would get ball rolling, but I guess that doesn't matter. No pressure from us can be placed on MGMT that matters, its gotta be the DTC, FINRA, and the SEC, as they are the ones that have caused this massive mess. To simplify, we are not shareholders in MGMT's eyes, because we don't own real shares, however we are shareholders in the eyes of FINRA, DTC, and the SEC, because they're mistakes are responsible for us owning counterfeit shares. So people need to focus energy on contacting FINRA, DTC, and the SEC, not the company.
Thanks for the response ALBUS. I’m just pretty confused about a few things
1933 vs 1934 and what it means about filling requirements. Does the act we now trade OTC and not OTCBB negate any fillings requirements? At what point did we become a 1934 company, and do requirements of fillings and such, not apply since we are no OTC and not OTCBB. Im starting to get the impression that since we are on the greys, there is no filling deadlines or perhaps even requirements to file. Was the E removed from SPNG because we got up to date with the fillings, or attempted to file them, or was it simply dropped because we are OTC and filling requirements are not required, which would make sense.
I understand that we have to file a 211 and also the 10k to get back on the OCTBB, but in the meantime not really clear on what requirements are, or even if there are any.
Also, and my most important question is, could this conitinue for 3 years with no 10k, or are there deadlines from either our suspension, or from our delisting down to the greys?
For example,
From 9/16/2009 or 9/18/2009 when we got our E.
https://www.otcbb.com/asp/dailylist_search.asp?DirectSymbol=SPNG&OTCBB=ALL
Or from 10/5/2009 the date of our suspension
10/9/2009 or 10/12/2009 we got our E dropped.
https://www.otcbb.com/asp/dailylist_search.asp?DirectSymbol=SPNGE&OTCBB=ALL
Or from 10/17/2009 the date of the lifting of our suspension?
Don’t mean to bombard a bunch of dates, just picking out ones I think could be relevant from basing any sort of time period off of. 30 days, 60 days, ect. I’m kinda just looking for a final deadline, because at the moment I’m under the impression nothing is stopping this from taking 3 years or more to get finished. The game is so corrupt, and the cards are so stacked against the little guy. Not saying its spongetechs fault, but more so on the part of FINRA and the SEC. Although MGMT could always bypass FINRA and the SEC, and PR the news needed to get this ball rolling which surely fast track anything FINRA or SEC could be dragging its feet on. I understand that would step on a few toes, but at this point, who cares, when the odds are stacked against you, sometimes you gotta play dirty.
Thanks,
Anyone else with some input I would also be gracious.
I'll repost the contacts, good post. Ask these people where the 10k is and whats the hold up all about, could even ask about any relationships some of these people may have with crooked market makers and or the naked shorts. Stop sitting on your hands and get involved guys, don’t sit and hope, ask questions, make calls.
adam.arkel@finra.org, aguilarl@sec.gov, aguilarlu@sec.gov, atkinsp@sec.gov, Atkinsp@sec.gov, beckerd@sec.gov, bob.errico@finra.org, bresnickyj@sec.gov, brigaglianoj@sec.gov, cainc@sec.gov, cameron.funkhouser@finra.org, CamposR@sec.gov, canellosG@sec.gov, cartwrightb@sec.gov, caseyk@sec.gov, chairmanoffice@sec.gov, CorporateSecretary@finra.org, coxc@sec.gov, dean_shahinian@banking.senate.gov, ehrmanc@sec.gov, Elizabeth.Muldoon@finra.org, enforcement@sec.gov, faragassog@sec.gov, friestads@sec.gov, gary.barrett@mail.house.gov, George.Friedman@finra.org, Grace.Vogel@finra.org, hansonr@sec.gov, heinej@sec.gov, homsenl@sec.gov, Howard.Schloss@finra.org, info@nasaa.org, info@pinksheets.com, jay.cummings@finra.org, john.gannon@finra.org, Jonathan_Graffeo@banking.senate.gov, khuzamir@sec.gov, kreitmanm@sec.gov, Lawranne.Stewart@mail.house.gov, Linda.Fienberg@finra.org, marcia.asquith@finra.org, Martin.Colburn@finra.org, Marty.Colburn@finra.org, mary.niemeier@finra.org, marc.menchel@finra.org, NazarethA@sec.gov, oig@sec.gov, paredest@sec.gov, pat.clem@finra.org, Patricia.Williams@finra.org, peter.kovar7@mail.house.gov, polisej@sec.gov, ricciardiw@sec.gov, Richard.Ketchum@finra.org, robertsonm@sec.gov, rs@nasaa.org, schapirom@sec.gov, schonfeldm@sec.gov, Scott.Carfello@finra.org, senator@shelby.senate.gov, Stephen Luparello@finra.org, Susan.Merrill@finra.org, thomsenl@sec.gov, Todd.Diganci@finra.org, Todd.Saltzman@finra.org, tom.selrnall@finra.org, waltere@sec.gov, welchn@sec.gov, Tom.Gira@finra.org
I have written a couple letters to these people, I encourage you do the same.
adam.arkel@finra.org, aguilarl@sec.gov, aguilarlu@sec.gov, atkinsp@sec.gov, Atkinsp@sec.gov, beckerd@sec.gov, bob.errico@finra.org, bresnickyj@sec.gov, brigaglianoj@sec.gov, cainc@sec.gov, cameron.funkhouser@finra.org, CamposR@sec.gov, canellosG@sec.gov, cartwrightb@sec.gov, caseyk@sec.gov, chairmanoffice@sec.gov, CorporateSecretary@finra.org, coxc@sec.gov, dean_shahinian@banking.senate.gov, ehrmanc@sec.gov, Elizabeth.Muldoon@finra.org, enforcement@sec.gov, faragassog@sec.gov, friestads@sec.gov, gary.barrett@mail.house.gov, George.Friedman@finra.org, Grace.Vogel@finra.org, hansonr@sec.gov, heinej@sec.gov, homsenl@sec.gov, Howard.Schloss@finra.org, info@nasaa.org, info@pinksheets.com, jay.cummings@finra.org, john.gannon@finra.org, Jonathan_Graffeo@banking.senate.gov, khuzamir@sec.gov, kreitmanm@sec.gov, Lawranne.Stewart@mail.house.gov, Linda.Fienberg@finra.org, marcia.asquith@finra.org, Martin.Colburn@finra.org, Marty.Colburn@finra.org, mary.niemeier@finra.org, marc.menchel@finra.org, NazarethA@sec.gov, oig@sec.gov, paredest@sec.gov, pat.clem@finra.org, Patricia.Williams@finra.org, peter.kovar7@mail.house.gov, polisej@sec.gov, ricciardiw@sec.gov, Richard.Ketchum@finra.org, robertsonm@sec.gov, rs@nasaa.org, schapirom@sec.gov, schonfeldm@sec.gov, Scott.Carfello@finra.org, senator@shelby.senate.gov, Stephen Luparello@finra.org, Susan.Merrill@finra.org, thomsenl@sec.gov, Todd.Diganci@finra.org, Todd.Saltzman@finra.org, tom.selrnall@finra.org, waltere@sec.gov, welchn@sec.gov, Tom.Gira@finra.org
To be honest, I hate to agree with you, but you do make sense. At this point I've heard enough pump for a lifetime as far as the 10k, or when its coming out, so maybe I'm just more open. I now find it humorous to those out of the direct loop, hanging onto rumors, who's judgment has become so clouded by hope in others they seem to lack any abiltiy, or even desire to think for themselves. Its actually rather pathetic.
The question I have in regards to your reply, are we really shareholders? If the float is officially owned, and all us retail guys have is phantom shares, are we really any concern to the company anymore? This is the feeling I'm starting to get, since the float is all officially owned, why do they care about some little retail guy holding counterfeit shares?
That's not to say some serious money isn't going to be made by the small guy, it just maybe puts into perspective managements seemingly lack of care or concern for us.
Its a Marco event, a big deal in the credit markets. If the market turns into a panic, are the SEC, FINRA, and DTCC more or less likely to stall and delay the release of the spongetech news that is going to blow out not only the shorts, but a couple broker dealers and market makers? My point is that, I think time is ripe to release and get this ball rolling, conditions could change very fast.
This is starting to turn into a real mess. This Dubai news is pretty big, what if the stock market starts to fall apart? I would imagine that will only delay us getting our approvals and our stuff filled. SEC, FINRA, and DTCC don’t want to allow Spongetech Bomb to be dropped in such a situation. How long could the fillings and news honestly take to break here? Is there any reason this situation couldn’t go on for 3 more years? I don’t see why not, but if someone could please enlighten me I would be greatful.
I still am 100% for the company and think we'll see prices well in excess of $3, its just when i'm concered about.
Yeah, how great is it gonna be when Spongetech does release the master plan, credit conditions are so tight, and the stock market reverses course and starts moving lower, then snap, spongetech takes out 3 broker dealers and adds to the disaster….NOT. Its just getting irresponsible, the time to release the news was a month ago, I don’t buy into this jobless recovery BS, but in any event spongetech should have used this time to release the news. Now we have countries defaulting on debt, who knows, if I ever thought the DTCC could halt us forever, it would be during a period of defaults and stock market crashes, for fear of letting the squeeze take place would seriously cause “systematic risk”.
I think as far as them answering my question, and helping me I'm SOL, I havn't been the kindest to them. I'll figure it out eventually, thanks.
Saw this on yahoo, wanted to ask if anyone could help. I am wondering if there is some time limit for when spongetech has to file, anything? Someone claimed here that it was nov 30, perhaps to dec 15.
But according to his post (posted below), I find on the finra website that the grace period of 60 days would be based off 9/18/2009, or when SPNG was on the daily list. 2 months would have been Nov 18th, so we are already passed. Anyone?
These guys have until NOV,30th (technically Dec 15th) to have ALL of the filings up to date or they will lose OTCBB listing privileges for ONE YEAR. Dont believe it? look it up. FINRA Rule 6530
finra.complinet.com/en/display/display.html?rbid=2403&record_id=5607&element_id=4513&highlight=6530#r5607
Unless a buy out is in the making... this is a deadline worth fighting for.... and a very merry christmas for some (not so good for others)
get your sponge shares! get your sponge shares! now on sale
get em while their cheap!
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_S/threadview?m=ts&bn=100008&tid=27697&mid=27697&tof=11&frt=2
Wait, so you were serious about the christmas stocking scratch and wins? Don't expect anything by christmas?
I will say the same to you as i did cryo,
I didn’t think anyone could make me laugh being I’m in such a foul mood waiting for this 10k, but you managed, and I thank you. That was hilarious.
I didn’t think anyone could make me laugh being I’m in such a foul mood waiting for this 10k, but you managed, and I thank you. That was hilarious.
WOW 1 PENNY GAIN. HAHAHAH, WHAT A JOKE OF A COMPANY, THIS THINGS GOING TO ZERO AS SOON AS THOSE TOXIC POSITIONS FROM THERE OTCBB MARKET MAKING OPERATION ARE EXPOSED. YAHOOOOOO
We'll there are some in this world that question things, and don't take things at face value, there are others who would eat anything that was fed to them, I guess we are different people
SPNG FAIR VALUE $3+. Just when the 10k comes out is the quesition.
DOWN AGAIN, BOO HOOO. Couldn't happen to a nicer group of people!!!! Looking forward to seeing NITE hitting ZERO when some of those market making operations of theirs get exposed. Yipeee, NITE GOING BUST!!!!
Give me a break. Finra is made up of members of some firms that are going to big losers when Spongetech starts ripping faces off. Thats like saying Goldman Sachs is working for us, because they are part of the Fed, who is in charge of money supply. Finra is made up of private bankers, whos private interests come way before ours.
Yes, interesting indeed, thanks. FINRA is ran by wall street, the BD's and MM's, and Banks Board Members, make up FINRA, its actually quite funny, some of those that have big exposure to Spongetech, are actually big shots at FINRA. Its like that saying, i forget, the wolf watching the hen house. As we can see with the getfugu divy, huge reduction in OS, float almost all officially accounted for, it looks like SM has done quite the job sealing off the exits. I'm excited for shorty to burn, question is, when? After seeing getfugu 10q, perhaps we are 1 step closer.
All I know, is i'm fully invested, waiting.
OMG SHORTY, DID YOU TAKE A LOOK AT GETFUGU'S 10Q FROM YESTERDAY? LOOKS LIKE A LITTLE MENTION OF SOME OF THOSE SHARES THEY GONNA GIVE SPONGETECH. WHAT IF GOOD OL SPONGETECH ISSUED THOSE TO SHAREHOLDERS, WHAT WOULD SHORTY DO WITH ALL THOSE SPNG PHANTOM SHARES AND NO GETFUGU?
BOOOOYAAAAAA
SPNG FAIR VALUE= $3.4 (FACTOR IN SHORT SQUEEZE, $10+????) I THINK SO
http://www.sec.gov/Archives/edgar/data/1398667/000114420409061621/v167445_10q.htm
Hey I'm not going anywhere, I understand the positives and have no intention on selling out. My only frustration is the time factor. I say release what we got while we are on the greys, let the price explode, let the MM’s on the grey’s be overwhelmed. It’ll fast track our 211 to the OCTBB, and everything else will fall into place. Let SPNG not only be a 1 in 5000 company that succeeded from the OTCBB to a huge billion dollar company, let it be a company who exposed and blew out NSS”s, exposed the inefficiencies of the government regulatory agencies, and the corruption on the OTCBB/FINRA/DTCC. All can be done right now, and I think being on the greys vs the otcbb would be better to prove the corruption and inefficiencies, killing yet another bird with one stone.
I just can't wait till the 10k, and RME's 3 come out and settle all this nonsense. Not only will there be a side that is so wrong they will no longer speak, but the she shorts will be completely blown out, bringing down those MM's that were in on the game. Who knows when those fillings will come, but they will come eventually. People who say otherwise are doing nothing but lying. People who post here saying the 10k is coming out ______, are also lying, or just holding onto hopes and living in fantasy land. It’ll come when it comes, but I can say I’m very very disappointed it continues to take so long with not a single update from the company.
For those who took my omission yesterday that I needed to sell a little today, ended up being less than 3%, that I somehow had less credibility, or was new to the game of trading, had to much at risk, or disproved my reasoning for why $15 is likely, I really can do nothing but laugh. I sold because I wanted some capital for trading in some other things, as well as take care of some things I’ve been putting off waiting the last 3 months on the 10k. I realized this very well could go on for 3 years.
Who’s opinion means more, someone already up 3 times his money on sponge, continues to keep his money where his mouth is, and does the math, and proves a well calculated reasoning for why $15 price projection is very within reason; or someone without a position?
Honestly, I really don’t care what anyone thinks but myself, and have continued to tell people to think for themselves, and not be talked into, or out of something based on someone on a message board. This forum is a place to share idea’s and come up with your own opinion, not a place to get hot trading tips.
I continue to believe, showing proof, why fair value for spongetech is greater than $3 a share, why OS is 350M, why float is owned several times over, why there is a huge naked short position, why there is massive manipulation, and how the game is stacked against the little guy. I also cite reasoning for why at a 100x PE, (something very reasonable for a company like spongetech whos shown 1000% growth YOY), with a OS of 350m, and a naked short position, that the price very well should reach $15. Think for yourself, do your own homework.
Yes, I have my money where my mouth is, and have been in this stock since February. I will continue to hold until the right time at the right prices, at the momenet i'm looking to scale out from between $4 and $15, holding 20% for a certain period of time regardless of price, unless we see prices in excess of $20.
Another day, another disappointment. I remain fully committed, I still think the company is not only a huge success, but will continue to be. When they come out with the kitchen sponge, that does not collect bacteria, its going to be huge, and set the standard in kitchen sponges. Sponges that collect bacteria will seem barbaric. The sales numbers will continue to be huge and grow, and this company is on its way to having a market cap it excess of a billion dollars, that is not speculation, that is the truth, just look at the sales numbers leading up to the point where the company stopped issuing PR’s, thanks to well planed attacks by the naked shorts. Fair value for spongetech remains about $3. Yes, OS is 350M, that is also a fact, look at RME’s holdings of 66M vs what they had before, that along with the sharebuybacks ect, gives you OS of 350M. Yes, there is also a very large short position, in excess of 1B, that will be blown out as soon as the 10k comes.
So like I said, I remain behind this company and fully support it, however tomorrow I need to sell a little, less than 10%, because in the mean time I need to pay some bills and would like some capital to trade some other things. I hope the 10k comes out soon, but its nothing more than a guess, when that day comes.
Goodluck to the other longs, hopefully our day is near, however something tells me it could be some time before we see anything. Think for yourself, do your own homework, and disregard any rumors.
Mingy
Listen, you don’t need to educated me why this company is a great investment, I’ve been in since February and have most my money in it. I support the company 100%, but that does not mean I have to subscribe to the attitude, where I keep all negative thoughts to myself, and be content with the outrageousness of lack of fillings or updates from the company. Its utterly shocking how many people feel exactly how I do, but for some reason don’t stand up and say so.
While warren buffet may have a lot of money, I do not think of him as an intelligent person, and I could cite countless number of interviews where this is proven.
You gonna reply or what?
Stop with the slanderous speak, that is simply not true.
same thing he claimed back here, nothing
I SEE 3PM AS THE TIME
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43539418
I understand all that, its just I don't understand why this is taking so long. I just think its really unfair to shareholders who've supported this company buying their products, getting word out about their products, calling retailers asking them to carry their products, ect; to sit here in the dark.
Since February actually, why, how long have you held yours? Point being, the 10k was due out 3 months ago. So I’ve been waiting 3 months, everyday being disappointed, seeing nothing. I have no intention on selling, just wondering if anyone has any answers for why this is taking so long. No, I’m not interested in rumors of when somethings gonna happen, how about an anwser, or a returned email from MGMT.
PS, why doesn't Spongetech have a number on their website for investor relations?
Who said anything about selling shares? I’d sell my shares if I didn’t believe in the company and think it has huge upside, the issue is time. I have no intention of selling, but I do wish to vent my frustration. Unlike you, I’m not gonna sit here in the dark, mum, for 5 years, and be content with the situation.
Dude, if the dark side is paying, I may have to. I can't afford to sit here on my hands anymore and wait, prey, hope we actually see some fillings. Its getting outrageous. The game is so stacked against the little guy, I understand that, but at least the company could give us something to hold us over, and refresh us. I’ve put a lot of work into the company getting word out of their products, buying them from every new retailer, and every store I walk into that doesn’t carry it, ask if they could. Sometimes I wonder if spongetech forgot about us little people.
I wouldn't hold your breath, this could go on for 2 years
We hear this same thing every week, week after week, EOW, EOD, AH, before bell, next week, then next week same thing, Its a constant cycle. I’m getting really tired of it actually.
Its really bothering me because I'm iching to short this dog, its just I have all my money on the otherside of one of those Toxic position NITE is most likely holding. As soon as I get paid over there I'm offering as much nite as I can. This puppy is going to zero.
OMG, DOWN 3%!!!! DOW UP TODAY TOO!!!! THIS DOG IS SCREAMING ITS GOT PROBLEMS!!!!
swell point you make mr mingy
$17 PPS, I'd like to point out is within reason, given not only the growth, but the NSS. Good points you make.
Wow, I went under google finance, and wanted to search for a list of stocks trading above a 50 PE, and interestingly enough, found quite a few. All the way up to 450PE. Reason I find this important, is for my calculations on what fair value of SPONGETECH might be. Like I’ve said before, I think $3.4 is fair value.
(25M a month in sales
X
12 Months
X
.20 profit margin
X
20 PE)
/
350M outstanding shares.
=$3.4
Now what I think is important, is to say, what if SPNG traded at a PE of 100. Well that number would be $17 a share. While maybe its not fair to assign SPNG a PE of 100, is it really crazy considering the fact we grew 1000% YOY? I don’t think anyone can scream and say that is crazy overpriced, when there is hundreds of stocks that trade a PE greater than 50.
Now given the massive amount of Naked shorts in spongetech, I think one could very likely conclude 100PE, and $17 PPS, is a realistic target for the short squeeze. Which is interesting, because I’ve talked before, about a group of strong longs looking for $18 a share.
To the bears.
Yes OS is 350M, look at RME’s holdings vs before.
Yes sales a real.
No, the kitchen sponge is not out, but I agree, its going to be MASSIVE
No, this company is not a scam.
Yes, Naked shorting is huge in this stock.
MINGY
Yeah, I mean if you plot the sales numbers, and see the continued rise, smashing records each month, your probably right. Spongebob is a fad, nevermind that it makes bathing your kids and ease, and something they demand. Oh, and that kitchen sponge that won't collect bacteria, yeah, that totally won't be the standard in kitchen sponges. You sold me hasher, I’m selling every share of stock Monday. What was I thinking. HAHAHAH
$3+ Fair value, over 1B in naked shorts, float owned several times over. Hmmm, guess it doesn’t matter, hasher thinks the company is gonna fold up the tent. Pfff, hahahah.
inevitable, hillarious. Well I got my money where my mouth is, and I'm taking the other side of the "inevitable". Record sales the last 4 months, share retirement in april, and yet again a month ago, (look at RME's holdings) and PIke coming in showing a stake of 1/2 the OS shares. Seems like the only thing that is inevitable is that the shorts are gonna blow out, lose more than everything, and some clearing firms, Market Makers, and brokers are going to be sharing quite a bit of the loss. Over a billion shorts, when float is less than 50M, good luck with that.