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That's good enough for me...
ROFLMAO...
What!!!!
This company is on the verge of a 300 million $ year....
Don't confuse the fundemendals with the share price...
A reverse split effects nothing!
Except making a few longs blue....
You make a good point...can't go to nasdaq with a billion and a half gorilla on our back...
But if you believe the company has to get the short covered by the R/S, it doesn't give the company much time
Or maybe there's a trillion...
let's say your right...
That would still leave only 6 million in the float..
No institutions can take major positions on a 6m float....
The last filing there was 722 million..
480m rme
242m float.
I rounded it off to 200 m
There is approx 200 million in the tradable float.
100 to 1 split brings it down to 2 million.
This does not include RME as they are not in float.
Rob,
When this 100 to 1 takes place, ther will omly be 2 million shares in the "float".
That's an impossibility to trade on the nasdaq with 2 million shares...
Somebody please!!!! explain!!
Morning fish,
We might not see the 10k till afterhours tomorrow.
Company is somehow envolved with ayme, and want them to buy as much as possible before it has to be reported.
Because of that I don't see any news until late tomorrow at the earliest...
But of course I could be wrong on all fronts...
I agree there is more to the 4+ million invested w/getfugu...
Right now it is my contention that SM want's to destroy the shorts. So how does this investment in getfugu advance this endeavor...?????????????????????????????????
Hmmmm....I may want to own some of their stock!!!
LOL...Didn't he own 17 million shares? And he sold out....
I wonder if he's having second thoughts..
With a 100 to 1 R/S..
The float will be 2.4 million shares...
LOL...Do you realize how ridiculous this is...
Well, let's just say...
I wouldn't want to be SM's enemy....
But wouldn't want to be his friend either...
Thankful just to be one of his coveted shareholders....
Hey fish....
If the opponent is allowed to get away with minipulation...
Why shouldn't we?.........LOL
"That is of course if there is a R/S, which I don't think will happen."
So then why do you think they announced it?
You guys crack me up. Your response to the last few days is exactly what SM was hoping for.....
Your like sheep without a shepard..blind!!!
Gee...I wonder who's buying all these worthless shares from this wothless company with this worthless management....
Figgy,
If your shares aren't worth 5 times what you payed for them 6 months from now then something has gone wrong.
You've received a gift today. Enjoy it while you can....
There is "NO" reason for a 100 to 1 reverse split.
If they did it for nasdaq listing they would only need to do a 25 to 1 split.
This reminds me of when they raised the A/S numerous times, only to bring them back down again.
Could SM be playing the same games?????
My guess is they are going to do some type of secondary and sell 100 to 200 million shares at a higher price.
There is no way they will keep the float at 7m....
I don't know what's going on for sure, but just have to trust these guys...
They've built a jagornaut. Their not going to do something stupid to ruin all that's been accomplished
This a post from D.Furth, copied and pasted from yahoo. I believe that he and darkLady might be on to something regarding fridays trading.
The shorts tried an succeeded to take it down, only to have the thing blow up in their face from the massive buying.
Friday may have sent the final message to the shorts that they can't win.
"Friday the retail peons and the shorts attempted to kick the stock in the head and take it down, thinking that they could make some hay as many were away for an early start to the holiday weekend.
As you plainly saw, they were wrong, eh? It was they who got kicked in the head - AGAIN.
As I have said to you all many times before, it is most wise to follow the money and to learn from history.
Just because the stupid traders and the perverted shorts cannot do this, does not mean that you longs have to repreat their fatal"
Any Long who is expecting the O/S to be down to 200 million in the 10K is setting themselves up for a disappointment.
And if the company doesn't show a maximum of 500 million O/S in the 10k would be a major disappointment to this long.
Thanks alfie.
Long is the only avenue for maximum gains
70,000+ shareholders..................
Folks this is comparable to a balloon. As more and more new shareholders, and existing shareholders continue to be fed fake shares at these low levels...
Just like a balloon it keeps being inflated, growing tighter and tighter until it has expanded beyond it's capacity..
We all know what happens then!
Boom!
And just like the balloon, it might burst on it's own without any help from an outside force, or it might take the tiniest of pinpricks to help it along...
This is my analogy of events..
Digs,
You sound so authoritative in your projection..
The you go and spoil it with the "IMO"
LOL
And out of those 722 millon. 480 million are restricted rme...
I agree!!!
Point is the shorts will have to cover cause we all know #2 ain't happening...
Sherry,
There are so many illegal shares in this company it's stagering...
There are only two scenarios that I personaly can see..
1...The illegals will be forced to cover, or the'll cover on their own...
2...SPNG goes bankrupt.......
1st of all they weren't pr's..
Yea they were from the company but hey, let's be realalistic! They weren't intended to help the pr...
2nd.. We can't call you names! If we did our post's would be deleted...
Well, they already announced a buyback in the open market of up to 150 million shares.
Add another100 million or so, and it will be a reality..
I can see the pr now!
Spongetech systems "The smarter sponge" has purchase all existing shares of the legal float.
Yes..
The "upto" 150 million open market buyback expires in the next few days
The total buyback of the RME expires feb 2010
We had roughly a 50% move from the 14/15 cent area to 2260...
Now we've had about a 10% pullback to the 20 area....
Normal trading in a bull trend
Jim,
My as well get in on this grass roots phenom..
1,030,000 shares for myself
350,000 shares for my brother
Darn!That's 10% of the last reported float.
Nice...
He could have fell over any other sign!
But he fell over ours!
Talk about the stars aligning perfectly for sponge!!!!!
Finally the universe makes sence.......LOL