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Look at footnote 4, very specific that it is the total amount of RME shares.
So why didn't they know that yesterday, or the day before, or the day before?
Apparently, it was on there at 5:30 this morning, now it's gone.
SPNG is no longer on the OTC Delinquency List
http://www.otcbb.com/DailyListContent/delistings/OTCBBDelOpenReport.pdf
Me too coffee, clinging tightly. We'll be OK.
OK, I respect your opinion, it just doesn't happen to be the same that I hold. Good luck and I hope that if this ends up in a good way it rockets to several dollars so you can make some very good money on the shares you have left. If not, then I will be crying the blues, lol.
Did you ever watch a Perry Mason show where the facts at first seemed obvious, only to change in the last minutes of the show? Things are not always as they seem at first.
Z4, I respect you and you know that, but you are making accusations that have not been proven. Just because there is an investigation, and just because they suspend the trading, does not in any way prove they are right. I have been involved in one of these witch hunts and I know very well how the Government agencies operate. Sorry, you have gotten out and I hope you made some money, but to bash the Company before knowing all the details, makes you just like those you used to ridicule. Hope you change your mind and at least give the benefit of the doubt until all the facts come out.
Who was it that asked you to come here?
Thank you sir.
My opinion only and I know there will bashers jump me, but, I have said for a long time that those who naked short are not stupid and they are very powerful. They also spend their money on some very powerful people in high places, ie. SEC, politicians, etc. If anyone thinks that in a situation like this that palms will not be greased then they are living in a dream world. I'm not saying that SPNG is lily white, show me a Company that is, but the fact is that there are forces here that do not want to see a MOASS, nor do they want the embarassment of not having done their job properly, so it is pretty apparent that roadblocks have been put up to make sure this Company takes the majority of the heat.
Good thing is that I don't think it will work out the way they want. The Company has far too much going for it in terms of assets, revenues, profits, contracts, and public acceptance. Those who have shorted this Company and those who have put obstacles in their path should be worried. You will lose this one.
Regarding the lawsuit today:
Cause No. 1:09-CV-08398-PKC styled Spongetech Delivery Systems, Inc. v. Spongetech, Inc. filed today October 5, 2009 in the Southern District of New York. Folks, there are so many causes of action, you will have to read it yourself. But here is the skinny. Michael Popovsky of Spongetech, Inc. ("STI") made comments to the New York Post on September 22, 2009 that SPNG's "sales and projected sales were false and not possible." Popovsky also stated that SPNG's annual revenue for fiscal year ending May 31, 2009 could not be in excess of 50 million. Said statements were made with reckless disregard to the truth and STI knew at all times that said reckless, false statements would be disseminated to the public and would damage the reputation of SPNG. WOW. SPNG went into Federal Court knowing that they will have to show that STI lied. And what will the proof be: 10K and 10Q audited my dear Watson!!!!!!!!!!!!!!! Go Sponge!!!
Behind you all the way Drew. Good post.
They weren't even notified by the SEC that there was a required re-audit til Sep 11. It has not even been a month yet. Your argument was successfully rebutted in both of my previous posts, so admit it.
Money buys attention and if there is a re-audit to be done by a new CPA firm, having two CPA firms work on that re-audit would speed things up.
The fallacy of your post is that Robison Hill is re-auditing the 2008 financials and they did not previously audit them. They are auditing financials from a Co they don't know, don't know what they do or why they filed the way they did. It is very conceiveable that they might have D & T helping them.
I just read the lawsuit filed by Spongetech, and it is my humble opinion that GFGU should just pay them the money. They won't stand a chance in court.
Well, I can tell you, someone is going to Buy my naked short shares!
Oh Yeah.........I forgot. Ha!
Thanks Debbie.
If there are shorts, and if the stock dividend of GFGU stock was of restricted shares, then there would be no way for GFGU to cover those shares. They would then have to cover the old fashioned way, with cash by buying up the naked shares.
Haha, exactly.
I'll repost this unless you missed it.
I saw last night where a posters Father called Schwab and they told him "Due to technical difficulties, UBSS will no longer be making a market for SPNG".
Not sure what the technical difficulty is, but that's what they told him.
I saw last night where a posters Father called Schwab and they told him "Due to technical difficulties, UBSS will no longer be making a market for SPNG".
Not sure what the technical difficulty is, but that's what they told him.
Right on Soap, about time someone defends what's right.
Good post. Very informative. Thanks
Is this new? Sea Foam Buddies. Redesigned at least.
http://www.spongetechs.com/Puddle-Pals-3-Pack-p/w400092.htm
From Alfie today:
So do you think that it is a mere coincidence that UBSS is now totally gone from the box exactly coincidental with the announcement of the SEC ivnestigation?
And is it a coincidence that they have always been one of the largest counduits for the short sellers?
What could this be?
August FTD numbers:
http://ftdsearch.com/
They only have to re-audit 2008 and it was a year of $5 million Revenue and $1 million profit, so should not take long at all. I think it is nearly done.
Yes, they can and they will, and it won't take til the 16th.
If the shorts paid $2 per share to the Co to cover, then there would be 3 Billion shares O/S, but the Co would have $6 billion in cash with no debt. That would make each share worth $2 on a cash basis alone. Co could then do a RS of 1 for 5, reducing O/S to 600 million at $10 per share. Go to nasdaq and everyone is happy. Shorts would be gone, no manipulation, and if you want to sell you can.
And before anyone says it is ridiculous for the shorts to pay $2 per share, how much do you think it would cost them if there was a major squeeze?
Does anyone see UBSS on level II? Is it unusual for them not to be there somewhere?
I would say that the SEC asked SPNG to file the 8A so the record would be correct.
But if the SEC had enough on SPNG to take action, then they probably would not have them file the 8A at this point, they would just make a record that filings were not properly done. If that makes any sense.
Hey Z4, good to hear you're still around. Appreciate all you have done for us here and I understand your reasoning. Good luck.
No_BS, very good post.
Is it too early in the day to tell the number of buys vs sells on this 60 million?
FSB, that is where I will be watching as well. If they are buying, then all should be OK.
Jim, I appreciate you coming to our board for your very first post, just to give me a lesson on what a penny stock is. Read my follow up post.
I was referring to the Company in the link.