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If someone is dumping why is the price between 4 - 5 cents???
I can't see how RME will relinquish their shares?? What I do know is that one cannot tell from that yahoo post what the O/S. That Yahoo post claims a reduction of NSS by 50% but most people posting claim that covering has not occured. This could be true as literally NITE had shares to short almost everyday on Interactive Broker!! So the unknowns are the O/S and Shares short.
But what I do believe is that the settlement will occur shortly.......PIKE has a very strong position in SPNG and besides M&M are not on salary. I am not saying they are perfect and they may have played some dirty games but bottom line we are in for some excitement......as the company is profitable and is on an explosive GRowth curve. imo
WOW!! READ this.......................
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_S/threadview?m=tm&bn=100008&tid=57618&mid=57621&tof=1&rt=1&frt=1&off=1
The Notice, if you can read between the lines is most likely an injunction of limited nature to two of the SPNG managers and investors. My guess is that they figured that if RME lent them money and they gave them stock....only to repurchase it back at cost, well, no harm no foul. So , they made a mistake, but, not a material mistake to the business of the company. AND, I do think the SEC has granted them the time to correct the error, which is going to benefit the shareholders tremendously in the very near term.
The posters such as nice_guy are correct in fact, but, they error in the application of the facts. He knows it as well. He most likely works with the rest of them. Notice how a post such as his can get 4 stars in less than a minute with NO replies? Curious, no? Collusion? Perhaps.
Will a MM take the stock to trade? 100% yes!!!
The volume that they will get is going to be tremendous. They could care less about the politics, they facilitate trades and volume. Besides going long and short, if they only play the middle, then they want the pure volume. And, they will get it shortly.
From my experience, NITE may be in some trouble with inventory. Others are helpng them out, which further delayed the 211 Filing. Everyone hates NITE, but, they can crush any dealer they like in most instances, especially the mid level dealers.
But, the Wells notice , in my opinion, was a means to the end for the covering of SOME of the NSS and there can still be a squeeze of approximately 700M shares, less than the 1.5B we hoped for. BUT, then comes PIKE to join the game and probably get some retrubution on those that beat him up in the past. His shares? Well, lets just say that they will not be sold for .28 cents. Oh, the small retail investor will bail at .15, .20, .30 cents and vow never to play penny stocks again.
BUT, the retail investors whole "lot' can be wiped out in the first 30 minutes of trading, amounting to perhaps 15 million shares. Just a blip on the level ll screen.
This has turned into a late night ramble. But, the crux of the matter is is that the shorts are crooks, the Wells Notice is the BEGINNING, not the end and PIKE holds a very tough share to purchase.
The hedgies had a minimal amount of information that actually stuck to the SEC...a laughable and minimal amount, I might add.
Next week I expect several key announcements that will make many people stay long and appreciate the game of manipulation and its consequences.
A silly sponge, can you beleive it.....will break the backs of huge money players!Hunfreds of millions, depending on Pikes mood. Played well by management or just plain lucky...the Wells Notice will cause a considerable appreciation to the pps of this stock.
When trading begins on OTCBB, invest in real time level ll. You are going to see lights like a Christmas parade and gap ups and downs like you have never seen. If you cannot afford it, at least sign up now for free trial versions. You are about to witness fireworks!
I agree./em
The key being 'settlement' with SEC and then everything will fall in place!! Watch the space!
FWIW...this taken from FINRA's website regarding Wells Notices/Process.................
"...................In many cases, after reviewing the charges that the staff is considering, the potential respondent initiates settlement discussions instead of making a Wells Submission........."
Stox, what happened to your latest post??....someone must be worried! Regarding ROI....yes we are all here for a positive and massive ROI but the color of ROI is directly connected to Sales, Profits and O/S....that's the point I was making...we need to see the 10K and current 10Q. Then, I think, everything will fall in place.
Stox...just for discussion, lets all of us quit talking about ROI, MOASS, etc......couple of issues...transparency from management and filing of 10Ks, 10Qs...... What is your confidence factor of them filing 10K, 10Q in December..if not in January 2010......10,20....50..70.80,90, 100% ???????????
stox......so, has the company been diluting so that a controlled buy in can take place?? If so I wonder what the O/S will be??!! Hmmmmmmmmmmm.
He, DF, certainly has a fluent style and a gift for crass humour!!!
What's keeping them from R/M with VAEV and then changing the name to SPNG!!
Is TAIKONE planning to buyout SPNG??? That would be a deal!!!!!!!!
your answer has no relevance to the question I asked!!!
who ever owns a share that is entitled to vote ( assuming all shares are real)!!!!
fla, for the umpteenth time, let me remind you that you state things as though they are facts, cast in concrete, when they are not but merely ASSUMPTIONS. The JURY is still out!
As for me I'll follow the trend till it breaks! Up till 16 April 2009, the trend has been increasing A/S and decreasing O/S. After April, there may have been 1 or more increases of A/S without a concurrent O/S decrease or increase i.e O/S value is unknown. I think it is about time they reveal it, if not, the SEC might as well suspend or revoke their 1934 registration. I believe they have till Dec 28 or Jan 11 (with extension)to file their 10K.
because there are 2.8 billion air shares. Pike's 13G clearly indicates O/S to be 722 Million (from latest filing). So don't deliberately misrepresent facts. over and out.
per their latest filing, the O/S is 722 Million.
per Pike's latest form 3, 13 G, O/S is 722 Million.
Are you refuting 722 Million?? the O/S got to 722 Million by reducing the prior O/S!!!
C'mon be factual, they increased the A/S while reducing O/S!
His source...when he is in front of the mirror!!! Lol!
And hope you are not serious about your 2. U only think that they may occur. Seriously, U do not have any third party verifiable evidence that will support your thoughts!!!
that should be easy for insiders as they own 110Million shares!!!
what would it take to go private....I'll pay $1 per share and put $1million in escrow till all shares are tendered!hehehehehe!!
I have already explained why. go read the posts carefully!
SpongeTech Delivery Systems, Inc., America's Cleaning Company, (OTCBB: SPNG) is pleased to announce that the Company has acquired Dicon Technologies ("Dicon"), a company that specializes in research and development of products derived from hydrophilic urethane chemistry. The Board of Directors of SpongeTech and Dicon have approved and completed the transaction. SpongeTech acquired Dicon for $4.45 million in cash only.
The Company has immediately picked up approximately $10 million in revenues and approximately $1.5 million in pre-tax earning from the acquisition. Dicon currently sells various products including private label brands for multiple industries through established channels of distribution in the U.S., including traditional food, drug and mass market stores such as CVS, Walgreens, Kmart and Wal-mart as well as direct sales to large commercial clients; all of which SpongeTech intends to immediately utilize. In addition to the U.S. distribution, Dicon currently has distribution in Asia.
"Due to the overwhelming increase in sales and demand for our products, we felt the best interest for the Company was to acquire Dicon," said SpongeTech's CEO, Michael Metter. "The acquisition of Dicon benefits SpongeTech along multiple parallels. With this acquisition, SpongeTech will obtain the technology that we have had exclusive rights to utilize in the manufacturing of our products and enable a more efficient and expeditious R&D process for the expanding of our product lines. In addition, SpongeTech will acquire all current and future products within Dicon's portfolio."
"We are energized at the potential unleashed by the union of our two companies," commented SpongeTech's COO, Steven Moskowitz. "The growth of the Company has given us the ability to acquire Dicon without dilution. We believe that this acquisition places SpongeTech in an excellent position to maximize the value of our Company and its future."
Established in 1975, Dicon Technologies has been researching, developing and producing some of the most innovative and successful products for multiple industries including agriculture, cosmetic, household and medical. Today, Dicon is recognized as an innovator in product development, setting new standards and creating products with far-reaching implications throughout these industries. Headquartered in Black Creek, Georgia, Dicon operates a new, state-of-the-art 30,000 sq. ft. research and manufacturing facility where over 65 researchers, product development and manufacturing personnel work on multiple, current, and future products.
Dicon's President, Wayne Celia, comments, "We have always strived to create products that are not only technologically advanced but provide the end user benefits unforeseen in previous products in the marketplace. Teaming up with SpongeTech is the perfect solution to providing a strong portfolio of innovative products that management believes will blow the marketplace out of the water."
Posted Jul 9, 2009
http://www.azom.com/news.asp?newsID=17983
O.K Goofy....that's what you said when I posted it takes 3-24 days for getting 211 approval!!!
For the time being I'll trust R&D at DICON.
I have heard that word before!! Doesn't Taikone use encapsulation??
Can you tell me why encapsulation is better or provide relevant links?? How come HHBrown still uses Dryz??
Lastly, it is just not understanding that encapsulation is better, it is understanding the science behind it. And also managing the growth of a technology company....essentially ,monetizing and commercializing the technology in which SPNG has shown great strides.
Yes, they did not know how to manage technology development. In fact WB does not understand technology!!
LOL! FINRA is going to approve it and SPNG will be trading my Mon AM. IMO
not fantasy but reality...if FINRA admitted that they have received the application, the prices will rocket UP. this way they have the lid on the prices!
Well, well....if there is smoke there must be fire!!! Why has not the company PRd that they have a sponsoring MM and has filed the 211?? Could it be the 211 has been filed with a confidential stamp. I bet the guy at the telephone does not even know the form is in house! I'll assume Stox info is correct and I'll assume that Sponsoring MM's name is confidential and the MM has requested confidentiality while filing the 211. Can this happen...I am betting it can...given the situation. We may get a PR from the company Friday afternoon saying that SPNG will begin trading Mon AM on OTCBB, the 10K being released pre-market (someone on Yahoo posted this)! Or the PR may come out Mon AM!!
trade date shows as Nov 17th!!!!!!!!!!!!!!!!!!!!
Do you know the MM???
Before the end of this year.....90 days from Sept 28, 10K needs to be filed.IMO. Unless ofcourse SEC is preventing them from doing so in which case it might as well call off the 1934 registration statement.
work with their latest/current filings...states 722mILLION AS o/s. From that point on is speculation!!!!!!!!
they need to have an account with a B/D! if they fold up and run the B/D is responsible.
Dicon was not manufacturing....I believe there were several manufacturers, one of which is in China. Again, hopefully the 10K/10Q will throw more light on the subject.
I think some of the information has not surfaced yet!! But my take on the spin off from HHBrown is that Dicon does not fit into Brown's core business of a Shoe Retail Chain. In addition probably they did not know how to manage a TEchnology company i.e how to bring out the full value in a potentially high value Technology. There were lot of issues for Dicon operating under the Brown Umbrella.
Now, under Spongetech, the synergies have been created and the full value may be realized.
To answer your question, SPNG got a good deal. One buys an undervalued company and then ramps up the Value to its full extent. That's what Warren Buffet does. And he does a good job of it. SM & MM, I guess are using the same model. I think they will be very successful.
Lastly, don't forget they may have products for FDA consideration.......FDA may already be reviewing them!
ONE TECHNOLOGY with INFINITE APPLICATIONS,Dicon Technologies has monetized it and SPNG has Consumerised/Commercialized it; products ranging from SpongeBob Soap filled sponges, DryZ, Medical to Agriculture.....and plenty more to come!!
And now we have INFINITE nay Sayers/posts...all desiring this company to fold, pack up and leave!!! There can be only one reason for this...there exists a MASSIVE NSS position. If they were rational they would have rooted for change in management but nah, they want the company to fold up!!
Well, the 10K is due out and the Shorts will be boxed in!
for sure SPONGETECH, the Smarter Sponge is everywhere!
Only those that are compliant!!