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Great news all around. I think we're set up to see some very positive surprises on the Q regarding share structure, revs and earnings.
Going to have a hard time locating them because they don't exist.
I read that. He was speaking about the signature fund. He and FOD own many more outside of that fund. That is who was purchasing today.
BMAS awake. Highest bid. Let's see if he's here to play today.
Strange ain't it? Especially since the Puddle Pal sponge's membrain doesn't allow stuff in, only out. Can't see how that would be useful for soaking up TEARS.
Let me forward Jolla's post onto management and see if they can comment. Really confused now as to Spongetech's technology.
Jolla.
5 star post! Sponges to soak up our TEARS. I get it! Excellent analogy.
Keep up the good work.
Sponge partners with Heinz! New product launched.
Thought we could use a little humor.
Feels like we're getting beaten up today for some reason, but we're only down 1.9% now. S&P down 2.7%.
GMD
UBS is like a 600 pound, sweaty, hairy Sumo wrestler sitting on us. Bad news is he positioned his butt crack directly on our faces.
lol, good one. No offense Carp.
New MM on the bid. Let's see what they got...
GNLN M Gunnallen Financial, Inc. TAMPA, FL 813-600-1420
Nice action so far today. Maybe the final shakedown?
Notice they've been hiding all of the large buys and posting them late.
Don't fall for it.
It's faster if you save the MP3 to disk, and then open it with Media Player or what not from there.
lol, yes. Serious.
Should have listened to the guy on CNBC that said "at this point, I'm hoping all retail investors have exited the momentum stocks"
Live and learn.
I just started out in the market during those JDSU days. Caught part of the way up, and all of the way down :)
Cro,
As a matter of fact, I'm in the process of moving a good chunk of shares from Etrade to Ameritrade now.
I didn't have any issues a few months ago when I first did this.
I will let you know the outcome. Might take another week or so to clear.
Form 13G was created during the 1934 Act (as you can see on the top of SPNGs filed 13's ) , and is the short form version of form 13D. Act 1933 companies can volunatarily comply with any Act 1934 requirements that are not already mandatory (10Q,10K, etc).
If you check out SPNGs early registration statements filed with www.sec.gov, you will see they were created as a 1933 Act company.
Read 13D first on the below...
http://www.ria-compliance-consultants.com/form13f_section_13d_schedule_13g.html
They will have to move to an Act 1934 company next summer, at which point I'm in agreement, Form 13 will then become mandatory for any entity that meets the criteria.
Incorrect, for Act 1933 reporting companies, 13s are completely optional.
Follow the money...
Holy! We've been Carp-undated! :)
Looks like BMAS has joined the New Years Eve party early today
This Time Warner deal only represents 13mm subscribers. Imagine how many angry phone calls Time Warner will get when all these Mom's turn on the TV New Years Day and their kids can't watch Nickelodean. And from all the butt-head people like me who can't watch South Park. Wouldn't be pretty.
I'm sure they will settle, if they haven't already.
"Thettle Down Beavis"
A little over 2 weeks left until the 10Q.
Estimated revenues of 11mm. Estimated profits of 2.2mm. With the recent additional revenue announcements, I think these figures are grossly outdated and understated. If they raised the O/S through further RME funding, we'll get to see why. And if so, it could be for a very good reason.
Who knows, maybe we'll get thrown a Flintstone sized bone or two before then.
Then we'll start seeing the fruits of VIA and MGM, and maybe even get surprised by something better. You'll be able to purchase several spng products at your local mall. Then auto season for the Yankee states will swing into full effect, and you'll see a spng banner on TV after every pitch CC Sabathia hurls. And the sales will continue.
Towards the end of the summer, SPNG will be required to be a 1934 reporting company. More visibility for the shareholders who weren't duped into selling themselves short.
Enjoy your New Years. Nothing moves this time of year, despite what some Yahooers might claim. Get in some R&R and some scotch, enjoy some quiet time and forget about things for a bit. All these rumors, bashars and pumpers can make a person go crazy ("don't mind if I do")
In the immortal words of Braveheart, "steady..... hooollld.. hooollLD...Hooolldd... HOLD!.... NOWWWWWWWWWWWWWWWWWWWWWWW!"
January could be a month to remember.
500k crossed at .0219 UBS is even inching up.
Power Hour!
LAMP in the house today on the buy side. Someone's bonus check must have cleared.
I actually ordered a few of these for the kids.
I believe these are the 'dollar store' version. The Spongebob ones will be much higher end with much better packaging.
Guess it depends on who your accountant is. This sounds more accurate to me...
http://www.fairmark.com/capgain/lastday.htm
Trade date controls
When determining what year you sold your stock, the trade date is what matters. This is the day the transaction took place on the stock exchange. If you contact your broker on the last trading day of the year, you can complete a sale in the current year if your broker executes the trade that day. On major exchanges, the last trading day is December 31 unless that day falls on a weekend.
Settlement date
Stock market trades generally settle a few days after the trade date. This is the day shares and cash actually change hands. But the settlement date doesn't matter for purposes of determining when your sale took place. If your trade date is in the current year and your settlement date is in the following year, the tax law says you made the sale in the current year (year of the trade date).
Offical tax loss selling needed to happen by last week. Settlement period needs to be accounted for.
http://network.nationalpost.com/np/blogs/wealthyboomer/archive/2008/12/24/today-last-day-for-tax-loss-selling.aspx
From SEC reference, SEC Release No. 7391. Basically it states that restricted shares can not be used to close out a short position if that short position was opened during the restriction period.
http://content.lawyerlinks.com/library/sec/sec_releases/33-7391.htm" target="_blank">http://content.lawyerlinks.com/default.htm#http://content.lawyerlinks.com/library/sec/sec_releases/33-7391.htm
"Deletion of the tolling provision in 1990 did not mean that holders could freely engage in hedging activities with respect to their restricted securities without consideration of the registration requirements. The Commission staff historically has viewed the question of whether a hedging transaction would toll the holding period as separate from the question of whether a hedging transaction was subject to Section 5 of the Securities Act. With respect to short sales ''against the box,'' (meaning that the person sells short even though the person owns securities that can be delivered) the Division continues to take the position expressed in the 1979 Rule 144 interpretative release (Release No. 33-6099, (August 2, 1979) [44 FR 46572]) that a person who has held restricted securities for less than one year cannot effect a short sale of securities of that class and then cover the short position with restricted securities (even after expiration of the one year holding period) since the initial short sale did not qualify under Rule 144. Similarly, exchange-traded puts and calls may be used for Rule 144 sales, but in the case of restricted securities, the one- year holding period requirement of Rule 144(d) must have been satisfied by the date the put is purchased or call is sold. See Bear Stearns & Co., Inc., (April 4, 1991) and Release 33-6099. "
VD,
A little more info on this (with references):
VD,
1) Restricted (Metter said these RME shares are restricted on several interviews) and ...
https://www.rule144letters.com/shareholder_rule144_legal_opinion_letter.aspx
"Resales of all unregistered stock purchased directly from the Company or an Affiliate of the Company are restricted under the federal securities laws. Examples of situations where the Company is required to place a restrictive legend on a stock certificate include acquisition of the shares by the shareholder (a) through a private placement memorandum, (b) as a result of a merger between a privately owned and a publicly owned company, or (c) as a result of converting a debenture to common shares."
2) Unregistered, from SPNGs SEC filings (SPNG would need to file a 144):
"The Company claims an exemption from the registration requirements of the Securities Act of 1933, as amended (the "Act") with respect to each of the foregoing issuances pursuant to Section 4(2) of the Act and/or Regulation D promulgated thereunder. "
So the defendant's argument was that it could not be determined which shares the hedgie was shorting against? So the maximum a hedgie in this case can short in the float (100mm per Metter). Of course, somehow RegSho and the delivery of those shares from float would need to be met.
Printmail,
What you provided is a standard SEC blurb that applies to new issue and IPOs.
This only applies to the shares on this initial public offering (2-8mm shares).
If you purchased shares in an IPO, wouldn't you expect to be able to sell those shares the day the IPO went live?
All subsequent shares issued to RME since were issued to affiliates, and it is against the law for those affiliates to short against restricted shares.
Notice you do not find this blurb on the 10Qs, 10Ks and 8K.
Pretty odd ain't it? that illegal NS manipulators actually might have rights through SEC loopholes? This was the case in the recent VW squeeze.
There are many legal shorts involved here as well, imo. Someone reported that the DTC sheets showed Ameritrade (and other brokerages) missing a ton of shares that were known to be held there (even held in cash accounts). Their assumption was the AT lent these shares out to a short for a fee. This would be a legitimate short.
So if we have a float of 100mm, we could theoretically have 100mm shares legally shorted, resulting in 200mm shares being held long.
And then there is the NS....
Digs,
Since you started a new thread, can you kindly tell us what you're waiting response on? I'm sure someone will have the Tim to help you out.
Maybe this article on UBS has something to do with it...?
http://agonist.org/20070522/lawsuit_against_ubs_spotlights_prime_brokers
Snake,
Good post...
"intentionally trying to trap a short is an SEC violation"
Maybe this is why 13(g)s are being voluntarily filed? The filers can't be more obvious as to their intentions than that.
I believe we have a lot of positive things going for us as we move into the new year.
Nothing happens quickly this time of year. Today's high volume was a surprise. People who are wanting out are getting out. People who are wanting in are getting in.
And who knows, maybe the shorts are digging a little deeper in defense.
We've been flushing out the garbage and clearing the slate for a week now. The churning without any stock price depreciation is a positive.
The foundation is getting stronger. Chart is like a volcano about to explode....
OG,
What if ole SPNGy received a $100mm order and needed to raise funds in order to produce product for the first installment?
Capital loan markets are non existant, so they went back to RME for a few million dollar loan in exchange for restricted shares, as they've done several times in the past?
What if that few million loan would yield $20mm in earnings in the next 12 months? and part of the money went to buying back those restricted shares at cost.
What if ole SPNGy was under a non-disclosure agreement with the company that placed the order for the time being? Hence the lack of visibility.
Just throwing out a plausible scenario, but I would deem that as a positive reason the A/S was increased.
LOL. Web 2.0 internet marketing for ya....
"The Cinderella Story" is trademarked. You will be hearing from my attorneys.
Ahh nevermind. If it makes the stock price rocket, go with it.