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thank puppy for your insight.
So, puppy what do you think the chances are for M&M brothers having similar settlements? Because I didn't know SEC is so easy on their charges. Reading so many posters past two days on this board I thought this hot sponges are going to be frozen forever.
Hello puppy, I just read few past SEC charges against some well known companies. I am very surprised to read how these case are settled. I know you are very bearish on spng situation. If have time can you please check this site and give your thought. Thanks.
1. Charges against Symbol Technology's officers which I believed is bought by Motorolla.
http://www.sec.gov/litigation/litreleases/2009/lr21277.htm
2. List of charges against other companys.
http://www.sec.gov/litigation/litreleases.shtml#fourthq
JackieChan, Super Job! I just read few cases and I was so surprised how these cases are settled. Just for example, SEC charges aganist Tenet Health at this link
www.sec.gov/litigation/litreleases/2009/lr21205.htm
Guys, if you haven't yet please check this link.
Kitt, I am not claiming anything about Pike nor do I have any link. I am making an investment decision based on my DD. And my dd say Pike acquired 145+ million spng share based on letest 13D filling unless you think this 13D filling is fruad. For me, it is hard to believe that Pike just dumpped millions without some positive knowledge about spng't potential. For me their investment while the company is under SEC investigation gave me some confidence that this might be a good investment for now. That being said, I am fully aware of what is risk is in penny land. I don't recommend anyone to jump in or get out based on my opinion.
Jackie, I am holding my sponges untill Pike does same. what about you.
thick, I agree 100%.
Puppy, are you saying SEC said spng product is fraud? Can you make little clear which one, the company or its management, you are reffering as fraud?
Pan, looks like it is dream come true for you to see well notice. I don't know why you are enjoying this much. Like me, you have no clue why Pike invested in a penny stock when it is under SEC investigation. And what Pike might do next to protect its investment, nobody has any clue. Well notice maybe end of road for M&M but not sponge and its shareholders. Not yet. If you enjoy spng shareholder loosing its investment then it is way too early to celebrate. We are at the same juction when SEC suspended spng stock on Oct 5th.
Thank KLee for the Post. That is what going to happen. This maybe end of m&m but not sponge.
Jackie, I think you are 100% correct. Actually, i was kind of expecting some kind of action by SEC to management and looks like it is going to happen but the most important part is of this puzzle is Pike. The way Pike is accumulating these stocks, I was guessing that they might be on the move to replace the management. As you just said, the way this things are happening I am pretty sure Pike will do something to the management to protect it's investment and this is what I was waiting for. Pike must have been prepared for this kind of situation. For now, just lets give the basher some time for celebration. Happy New Years to all.
without going back to look I believe 120 to 140 plus million shares were bought BEFORE the SEC investigation .. what are you guys rattling on about? of course he did some DD .. used the filings and most likely spoke to the insiders .. and got caught holding the BAG .. just like everyone else here
timetomakemoney, MAYBE they are trying to own whole company. MAYBE argument is just a garbage.
Carpedeim, you are 100% right. Some people think Pike is pouring million in garbage. How stupid is it to think a Hedge fund company is pilling up huge sum of penny stock without any kind of DD when the company is under SEC investigation? Of course, Pike should know spng is under investigation, of course they know managament raised AS to 3 billion, and of course they should know all the rumors before they decided to buy these hot sponges. Even with all those negativity they still invested millions in these hot sponges, and what kind of message it is sending to ohter investors? It is no brainer that message is they are betting this penny stock will return millions in near future. And rather follow their message than some basher in this blog who might not have invested a penny in this stock. Happy holidays to all
Yahooooooo. Pike is keep pilling up those hot sponges. It is telling me that my sponges are growing. Go sponges.
I am with you 100%. 2010 will be great for spng.
That's why it is trading for 4 pennys, otherwise it would be $4 dollar a peice.. go sponge
I believe Pike invested in spng knowing sec problems and most importantly, I think they know it is going to give them huge return soon... happy holiday
yahoooooooo!I just read new 13D and now my belief in spongetech is stronger than ever. Nice to read some cheerful comments from sponge believer. I knew Pike must be much more smarter than rookie investor like me. I think this new 13D supports my belief.
Past couple weeks, I became little nervous reading many basher's comments regarding 2.75 billing O/S and others.... Of course there are so many reasons to be suspicious. But, if we keep dicking it would be impossible find a company without any doubts.
Right now, I just hoping management is buying this cheap share and trying to lower its OS to 500 million which I think is very realistic view. I am hanging on strong than ever and hopefully great reward is coming soon at our door. Happy Holidays to all.
Do anyone have any idea how popular is these sponges internationally?
Could those 3 distributors, that some believes don't exit, are distributing those hot sponges to the retailers all over US? That's why m&m is claiming 90% revenue from those three distributors and rest 10% may be coming from their internet store.
What do you guys think? Just popped up in my mind and wanted to share with you guys.
I don't believe they distribute every indivisual store directly. There must be some large distributors for this job. It could be that SA trading or dubai that some people are saying don't exist. It is just too much suspense just like Haloween movie.
Hasher, you got a point. Why they raised AS to 3 billion? Actually, I was kind of suspicious when they did that. But my doubts and suspicious disappears when Pike bought bunch of this shares. Why do you think, Pike was not aware of this things.
Hasher, how do you know Pike had to buy 42 million? I was thinking that Pike purchased those huge because they saw nice future return. Otherwise, why they would invest millions in penny stock. I thought Pike must be much smarter than me.
Wrinkles. Great estimate.
ok, I agree that 722 is 8 month old O/S but how old is 2.75 billion O/S is? Yes they changed AS many times for whatever reason but I am talking about O/S. If you know for fact how many time O/S changed from 722 that would be wonderful. If 2.75 billion is just a wild guess than my wild guess is O/S could be somewhere around 500 Million by now. Again, 500 Million O/S is my wild guess.
Pantherj, yes I am assuming that Pike must have done some serious DD and came with a decision thinking it is good opportunity otherwise who would put millions on a penny stock. But you are saying Pike was fooled by spng and forced to purchased those stocks. You sounds like you know this for fact not just your opinion. If that is the case than Pike should have been filling law suit to spng management.
I can understand why so many have so much doubts and I do still have some doubts but the puzzling thing is that why Pike bought so much stocks after all these SEC problems, audits, law suit and negativity. I am sure they were aware of all these problem before they jumped in. They must have done lots of DD. Still they puts whole lots of money it this sponge. So, my gut feeling turning toward more optimistic than pesimistic.
where is this 9 billin AS and 6 billing float come from?
what is going on? what filing?
ok, but you are saying it is 2.75 B and how do you come with that number.
I agree. Sure, mgmt might have done some mistakes that's why SEC stepped up and share droped to 4 penny otherwise this stock should have been way high. They seems to have great product, outstanding marketing, and recently Pike bought huge share which I think is validation of spng business. Thats why I think spng is great opportunity for 4 penny. But the future depends on how current SEC problems is handled by the management and I hope they are buying back the share they told us long time age so that they can reduced OS to 500 MIllion. If they are doing this right now, I believe time will come long believer will get big return. Ofcourse it is just my opinion.
I wanna know too. Who is accumulating this cheap stock. I hope it is management so that they can retired as much float as they can.
That would make sweeet x-mas gift for common share holder.
According to Oct 29th SC 13G filling, Pike holds 142 mil common shares which is 19.6% of O/S. If 142 mil is 19.6% of O/S than, it makes total O/S 724 Million. Am I missing something here?
spng for $275,000.00. Sweet.
i wish i could buyout spng for .0001/share.
I have been suspicion of the mgmt but the puzzling thins is why pike made that huge purchase. I am sure guys at pike are more smarter than me. they most of done all sort of dd. or is there anything you guys know about.
I think so