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I doubt if share dividends will have a meaningful effect but a cash dividend will certainly have a massive effect, especially if the short position is large. DTCC can screw up (intentionally) the distribution of shares!! Also, any short triggering can only take place if DTCC calls upon the Clearing houses to cover their Short positions. IMO.
Anyways, it sounds a Dividend (Share/Cash) or a Buy Out is speculative at this point as it is one or the other depending on which day of the week it is!!!!!!!!!!!!!
Of all the movies in real time, this one is the BEST (of course it is one of its kind)....a continuous, non-stop, anywhere and anytime show!LOL.
Patchman you are afraid to ask the RIGHT question...""DOES THE SEC THINK SPNG IS A SCAM COMPANY??"" I'd like to see what answer the SEC gives!!!!!!!!!!!!!!!
Patchman is getting nervous about things not going his way, rather going in the direction of SPNG's way. look out patchee!!!
SPNG right now is on the greys. and most people know what that means. however, if people want to buy and sell without looking at the fundamentals that's their choice! you don't have to buy and sell, just watch the show!
that's not the point, it is the exposure SPNG is getting. Pretty soon it will be SPNG, the USA vs Wallstreet NSS!
I think they were talking about getting to $500 Billion (in thext 3-5 years) and not $500 Million. $500 Billion is huge number. You may want to reread what spongeboy put out. Walmart's revenue is about $400 Billion per year.
Can you tell me in 10 sentences what the Plan is to get from $50 Million a year in Sales to $500 Billion in Sales per year over the next 3-5 year horizon???????????????????????????
Is there a typo in here???????
"We are really focused on building this over the next 3-5 years to a $500 billion company"
That should have been -268 million i.e float just disappeared, assuming they are going to hold tight!
According to N.A.R's estimates RME held 522MM shares of SPNG on 4/16/2009 out of an O/S of 722Million shares. So one can deduce that the float was 200 million shares on 4/16/2009.
Today we know that RME holds 66Million shares but more importantly,
Pike Owns: 142 million
Insiders Own: 44 Million
Signature Owns: 41 Million &
Levin Owns: 41 Million
for a total of 268 million which leaves the float at -68Million (200 minus 268)shares.
Just an observation!!
Anyone with an accurate number of SPNG shares RME owned on 5/31/09??TIA
Wadi, I think you are right i.e given the SPNG/SEC situation and the very fact that it recently filed to become a 1934 Act company.
Edit: Second thought, isn't the 1934 Act relevant to stocks on the national exchanges only??
I would say, if they do not get current in all their filings, form 3,4 , 8K, 10K etc then the chances of them getting up listed is nil. I don't think there is a timeliness while on the Grey but timeliness gives them a plus point if and when they apply for the 211. IMO.
IMO..to keep the consistency of O/S being 723MM, RME will not be able to file 10% ownership. However, may file form 3 after 10K release!
S&P down 28 pts...market about to take the dreadful plunge!!
3-24 days. /em
Read the notes! The column represents 2 different funds, QP & LP.
Pedro, don't count the numbers continuosly in the column..break at 16Million(approx) and start a new base at 100MM(approx)!
WTF...what r u saying...those are shares of Pike Capital Funds!!!
if RME is a 10% owner then they must file.........see this example.......
http://static.istockanalyst.com/article/viewsecfiling/articleid/3038298
But I also feel that RME needs to as the 3some are insiders and sole owners of RME. JMO.
Isn't RME owned by SM,FL and indirectly by MM(I think Tiburon Capital has direct interest in RME)?? Are there any other investors in RME?? Is RME set up to attract funds from investors??
My logic says that the total number of votes cannot exceed the authorized(A/S common equity).
My logic says O/S 200Million and fully diluted O/S is 228Million...if and only if SM has 9MM shares of Class B stock. At 9million Class B for SM, the class B would be fully consumed making the total vote number to equal 2.8 Billion for Class B stock. And if they are able to clear all issues, they could bring down the A/S to 300Million (as they would not need external financing, their growth will provide sufficient funds and they have a huge product portfolio)...IMO.
Is there a section 12.g in 1933 Act????????????????
O.K. I stand corrected on that point.
they don't even have lead Plaintiff yet!! And they have not been granted 'Class' status, yet!! I think you are right, the lawsuits will drop dead!!!
LMAO!! I think the timing was fantastic. Let me see..FL just confirmed that RME owns 66Milion shares of SPNG. Now, I think we are just waiting for SM and RME to release their Form 3 before we see them release the 10Ks. IMO
I believe SPNG was voluntary filling all the reports while being a 1933 Act company. There is nothing preventing them from filing reports like 10Q, 10Ks, etc. They have been selective though!
If they were not a 1933 Act company, then, why file a form 8A-12G now??
Over, I am going to assume that 1933 Act can exist as NASDAQ entertains 1933 Act companies to be uplisted to NASDAQ and NASDAQ specifically indicates that they NASDAQ will register their shares (on the company's behalf) as 1934 Act company i.e they NASDAQ will provide the service.
I'll try......I think it is A.d.1.
A.d.2 refers to a situation wherein the company has applied for a class of securities and is awaiting acceptance by the Commission but files form 8A for registering another class of securities prior to the earlier one being accepted. I hope I did not confuse you. LOL!
SJJNAMARTIN, can't PM and so this response....................
As far as the 10K being with the SEC, I am not so sure but then I tell myself that it could possibly be as it looks like SPNG is reacting to feedback from SEC i.e the filings of Form 3, 8Ks, etc.
The filing of form 8A12G essentially took them from a 1933 Act company to that of 1934 Act company. As a result they will have to file a 10K within a certain period! I don't know the grace period!!
I hope this helps.
It becomes effective upon the filing....... see A (d)
--------------------------------------------------------------
A. Rule as to Use of Form 8-A.
(a)
Subject to paragraph (b) below, this form may be used for registration pursuant to Section 12(b) or (g) of the Securities Exchange Act of 1934 of any class of securities of any issuer which is required to file reports pursuant to Section 13 or 15(d) of that Act or pursuant to an order exempting the exchange on which the issuer has securities listed from registration as a national securities exchange.
(b)
If the registrant would be required to file an annual report pursuant to Section 15(d) of the Act for its last fiscal year, e xcept for the fact that the registration statement on this form will become effective before such report is required to be filed, an annual report for such fiscal year shall nevertheless be filed within the period specified in the appropriate annual report form.
(c)
If this form is used for the registration of a class of securities under Section 12(b), it shall become effective:
(1)
If a class of securities is not concurrently being registered under the Securities Act of 1933 (15 U.S.C. 77a et seq.) (“Securities Act”), upon the later of receipt by the Commission of certification from the national securities exchange listed on this form or the filing of the Form 8-A with the Commission; or
(2)
If a class of securities is concurrently being registered under the Securities Act, upon the later of the filing of the Form 8-A with the Commission, receipt by the Commission of certification from the national securities exchange listed on this form or effectiveness of the Securities Act registration statement relating to the class of securities.
(d)
If this form is used for the registration of a class of securities under Section 12(g), it shall become effective:
(1)
If a class of securities is not concurrently being registered under the Securities Act, upon the filing of the Form 8-A with the Commission; or
(2)
If class of securities is concurrently being registered under the Securities Act, upon the later of the filing of the Form 8-A with the Commission or the effectiveness of the Securities Act registration statement relating to the class of securities.
---------------------------------------------------------------
Wadi, the 9/28 triggering event is effective immediately as they were a 1933 Act company i.e the 8-A12g is an upgrade path for them. The officers have a 10day grace period. It appears they are late in their filings.
Yes, it does...per the rule/instruction...my understanding!
Does the 10% pertain to directly owned shares or all???
I think RME is owned by SM, MM & L.....so it may be worth waiting for them to file form 3 as well...before arriving at Share ownership structure.IMO
OldTymer, I do believe what you found out from the Office of Small Business to be correct (from an operational perspective), however, I now have to stand corrected i.e retract what I said about people like Doug, Stox, et al as I now think there is an investigative arm of SEC that can flex the protocols. Here is why, courtesy of Spongeater;
"once the sec begins an investigation the paperwork flow changes significantly as do the rules and procedures. this is common not only at the SEC but at almost every US govt administrative agency as well as the civil court system. it protects both sides from public speculation but unfortunately causes more problems with the delays as you can see. i would tend to give credit to those who say it is filed but they are using the wrong word. submitted for review to the case officers and/or panel that was performing the investigation is more like it."
This makes sense a lot of sense to me as it gives the SEC some flexibility to conduct the investigation with integrity. Hence, I can now say with more confidence that the Financials could have been submitted to the SEC for review.
Spongeater, sorry about the this delayed response.......I ran out of my daily allowance and then my laptop crashed out!!!! Anyway thanks for educating me.
Obviously (educated guess), SM is passing out the wrong info or whoever is answering SM's emails!! Now, Doug Furth stated (in his posting) that the financials are with SEC and Stoxmagic did so too!!! But I do believe that what SEC indicated to you is the right thing.