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I agree NSS is a total 100% FARCE when talking about SPNG no doubt , I agree, SPNG was legally shorted to the max , and some borderline, and the shorts KNEW , the shorters KNEW it would implode and they would rake it in , Who would know for sure , 100% for sure SPNG would implode? Who would have access to that many shares? Who could have orchestrated such a transaction knowing full well what would happen? and do it at arms length thru like a DF or RME and shift blame , smoke and mirrors like ... IMO SPNG insiders / financeers and "the group" just pulled off the short of the centurY on the bacKs of retail longs... WILL THE SEC catch them in time? In My Personal Opinion IMO
Short $60 million dollars of SPNG stock at average price of @ .13 , and then cover it at under @.02 , now that is one monster trade ...wow , look at these totals , it is so obvious , the O/S A/S was a scam , the PR was a scam , and I bet - IMPO - IMO I BET Insiders are making this short money thru RME and DF , IMO SPNG insiders just made like $100 milion or MORE on this short , I am not an expert on shorting. Hate shorting , it should be outlawed and only used in large institution like trades and must be 100% covered on spot type of thing. Anyway , someone figure this trade out.
If you short $60milion of SPNG stock at $.13 then cover it say at $.02 , what is the NET profit on the trade?
Look at June and July 2009 trades ONLY:
http://www.buyins.com/images/spngstr8-26-09.jpg
wow look at this chart of SHORTED SPNG shares.
Nearly $100 million in 2009 alone , these guys made couple HUNDERED million dollars on this short , wow.....
see chart:
http://www.buyins.com/images/spngstr8-26-09.jpg
EXPLAIN What? sorry I replied to wrong poster.
Here is info on SPNG Nealry ONE BILLION shorted shares
These guys about to cash in , or already have , made a MONSTER mega killin on this one IMO - I hare shorts!
Here is some DD into the shorting of SPNG:
http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=24695219&topic=SPNGE&symbology=null&cp=off&webmasterId=89753
SpongeTech(R) Delivery Systems, Inc. (SPNG) Squeeze Trigger Price is $0.09. Approximately 972 Million Shares Shorted Since December 2006 According to Buyins.net Research Report
SpongeTech(R) Delivery Systems, Inc. (SPNG) Squeeze Trigger Price is $0.09. Approximately 972 Million Shares Shorted Since December 2006 According to Buyins.net Research Report
Aug. 31, 2009 (Business Wire) -- SpongeTech® Delivery Systems, Inc. “The Smarter Sponge™ (OTCBB: SPNG) announced today that BUYINS.NET, www.buyins.net, is initiating coverage of SpongeTech® Delivery Systems after releasing the latest short sale data to August 2009. From December 2006 to August 2009 approximately 12.6 billion total aggregate shares of SPNG have traded for a total dollar value of approximately $1.13 billion. The total aggregate number of shares shorted in this time period is approximately 972 million shares. The SPNG SqueezeTrigger price of $0.09 is the volume weighted average short price of all short selling in SPNG. A series of short squeezes has begun as shares of SPNG have jumped from $0.006 to $0.22 and 99% of all shares shorted in SPNG are now out-of-the-money. To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.
Month Total Vol. Short Vol. Avg. Price Short $ Value
12/29/2006 150,000 11,550 0.2075 $2,397
1/31/2007 179,000 13,783 0.1350 $1,861
2/28/2007 535,700 41,249 0.1900 $7,837
3/30/2007 1,496,000 115,192 0.1850 $21,311
4/30/2007 4,695,154 361,527 0.1967 $71,112
5/31/2007 7,144,891 550,157 0.1950 $107,281
6/29/2007 5,250,137 404,261 0.1425 $57,607
7/31/2007 7,891,632 607,656 0.0950 $57,727
8/31/2007 6,423,566 494,615 0.0788 $38,976
9/28/2007 6,086,639 468,671 0.0902 $42,274
10/31/2007 10,565,011 813,506 0.0738 $60,037
11/30/2007 21,375,974 1,645,950 0.0525 $86,412
12/31/2007 46,577,400 3,586,460 0.0403 $144,534
1/31/2008 49,644,868 3,822,655 0.0248 $94,802
2/29/2008 90,164,328 6,942,653 0.0302 $209,668
3/31/2008 136,771,952 10,531,440 0.0273 $287,508
4/30/2008 156,957,184 12,085,703 0.0309 $373,448
5/30/2008 184,506,944 14,207,035 0.0434 $616,585
6/30/2008 143,385,424 11,040,678 0.0487 $537,681
7/31/2008 111,369,960 8,575,487 0.0439 $376,464
8/29/2008 339,945,472 26,175,801 0.0384 $1,005,151
9/30/2008 434,852,544 33,483,646 0.0338 $1,131,747
10/31/2008 418,655,520 32,236,475 0.0280 $902,621
11/28/2008 226,767,232 17,461,077 0.0273 $476,687
12/31/2008 338,505,440 26,064,919 0.0264 $688,114
1/30/2009 438,992,096 33,802,391 0.0194 $655,766
2/27/2009 423,565,856 32,614,571 0.0144 $469,650
3/31/2009 661,219,200 50,913,878 0.0116 $590,601
4/30/2009 1,227,771,776 94,538,427 0.0185 $1,748,961
5/29/2009 1,590,875,520 122,497,415 0.0320 $3,919,917
6/30/2009 2,976,228,372 229,169,584 0.1373 $31,464,983
7/31/2009 1,719,142,528 132,373,975 0.1334 $30,571,222
8/31/2009 840,376,128 64,708,962 0.1633 $10,566,973
Total 12,628,069,448 972,361,347 $0.0898 $87,387,917
*short volume is approximated using a proprietary algorithm.
**average short price is calculated using a volume weighted average short price.
***short volume is the total short trade volume and does not account for covers.
Click here to view chart: http://www.buyins.com/images/spngstr8-26-09.jpg
Market Maker Friction Factor is shown in the chart below:
Date Change % Buy Vol Buy% Sell Vol Sell% Net Vol Friction
8/27/2009 0.0017 0.89 64,004,552 49.96 61,728,494 48.18 2,276,058 13,388,576
8/26/2009 0.0253 15.19 98,227,965 52.16 88,085,350 46.77 10,142,615 4,008,939
8/25/2009 0.0127 8.77 89,010,285 55.72 72,311,732 45.27 16,698,553 13,148,467
8/24/2009 0.0085 6.32 31,984,993 57.6 23,340,786 42.03 8,644,207 10,169,655
8/6/2009 -0.002 -1.37 35,536,303 46.23 41,065,408 53.43 -5,529,105 -27,645,525
8/5/2009 -0.0059 -3.84 27,933,395 49.92 27,740,564 49.57 192,831 bearish bias
8/4/2009 -0.002 -1.26 16,471,046 43.57 21,228,273 56.16 -4,757,227 -23,786,135
8/3/2009 0.007 4.61 25,443,789 46.38 29,077,807 53.01 -3,634,018 bullish bias
7/31/2009 0.0096 6.79 25,415,915 48.07 27,408,610 51.84 -1,992,695 bullish bias
7/30/2009 0.0042 3.08 13,186,865 42.67 17,663,265 57.15 -4,476,400 bullish bias
Click here to view chart: http://www.buyins.com/images/spngff8-28-09.jpg
Analysis of the Friction Factor chart above shows that in the trading days preceding this report that market makers have been making a positively biased market (70% bullish and 30% bearish bias to trading) in shares of SPNG. The Friction Factor displays how many more shares of buying than selling are required to move SPNG higher by one cent or how many more shares of selling than buying moves SPNG lower by 1 cent.
The chart below shows the broker dealers acting as market makers in shares of SPNG.
Rank Market Maker 2009 Volume % of Volume
1 Knight Equity Markets, L.P. 3,872,172,703 42
2 E*Trade Capital Markets Llc 1,221,151,096 13
3 UBS Securities LLC 1,176,368,331 13
4 Automated Trading Desk 402,003,438 4
5 Natexis Bleichroeder Inc. 383,986,206 4
6 Archipelago Trading Services 235,191,875 2
7 The Vertical Trading Group 222,139,136 2
8 Sterne, Agee & Leach, Inc. 197,670,966 2
9 Hudson Securities, Inc. 182,898,316 2
10 Pershing LLC 176,764,366 1
11 Burt Martin Arnold Securities 135,330,580 1
12 Finance 500, Inc. 130,290,819 1
13 vFinance Investments, Inc. 104,622,665 1
14 Domestic Securities, Inc. 74,284,152 <1
15 Martinez Ayme Securities 59,545,394 <1
16 BTIG, LLC 58,998,351 <1
17 Gunnallen Financial, Inc 50,354,106 <1
18 Stockcross Financial Services 47,037,686 <1
19 Vandham Securities 41,939,843 <1
20 Noble International Invest. 40,623,396 <1
21 Maxim Group LLC 35,405,133 <1
22 Puma Capital, Llc 30,469,560 <1
23 Murphy and Durieu 19,800,397 <1
24 Lampost Capital, L.C. 18,067,637 <1
25 Biltmore International Corpor 13,818,464 <1
26 Lighthouse Financial Group, L 13,272,957 <1
27 LaBranche Financial Services 12,748,477 <1
28 Collins Stewart LLC 12,546,564 <1
29 Wilson-Davis & Co. Inc. 7,595,183 <1
30 Pali Capital 5,735,389 <1
31 Jesup & Lamont Securities Cor 5,102,866 <1
33 MERCATOR ASSOCIATES, LLC 3,840,000 <1
34 CAPITAL PATH SECURITIES, LLC 2,750,000 <1
Click here to view chart: http://www.buyins.com/images/spngmm8-26-09.jpg
SpongeTech® has been on the OTCBB Threshold Security List (“naked short list”) a total of 85 trading days since January 1, 2005 and is presently on the list from July 24, 2009 to through August 25th, a total of 23 consecutive trading days. Short sellers and the broker dealers accepting their short sale orders are out-of-compliance with the new Reg SHO buy-in requirement at the time this report was generated. In late October 2008 the SEC updated Regulation SHO requiring that all short sellers must locate, borrow and deliver any shares they have shorted, no exceptions, by T+3 settlement date. If not, a buy-in must be forced by the broker dealer that the short seller transacted through by the opening of the market on T+4. Since a company first appears on the naked short list when short sellers have been failing to deliver for 5 consecutive trading days, SPNG should theoretically never be on the naked short list again. BUYINS.NET will monitor the OTCBB naked short list daily and issue an alert and notify the SEC and FINRA should short sellers fail to deliver and SPNG continues on the exchange’s Threshold Security List.
The chart below shows the daily failures to deliver for the 10 trading days ending July 31, 2009.
DATE SYMBOL QUANTITY (FAILS) DESCRIPTION PRICE
20090720 SPNG 14,725,754 SpongeTech® Delivery Systems, I $0.10
20090721 SPNG 9,471,912 SpongeTech® Delivery Systems, I $0.12
20090722 SPNG 8,088,135 SpongeTech® Delivery Systems, I $0.11
20090723 SPNG 5,200,621 SpongeTech® Delivery Systems, I $0.12
20090724 SPNG 4,272,930 SpongeTech® Delivery Systems, I $0.13
20090727 SPNG 356 SpongeTech® Delivery Systems, I $0.13
20090728 SPNG 322,000 SpongeTech® Delivery Systems, I $0.16
20090729 SPNG 140,175 SpongeTech® Delivery Systems, I $0.15
20090730 SPNG 6,666,574 SpongeTech® Delivery Systems, I $0.14
20090731 SPNG 16,065,416 SpongeTech® Delivery Systems, I $0.14
Click here to view above chart: http://www.buyins.com/images/spngftd8-26-09.jpg
Click here for complete data file: http://www.buyins.com/images/spngftd8-26-09.xls
Click here to view entire chart: http://www.buyins.com/images/spngftdchart8-26-09.jpg
About SpongeTech® Delivery Systems, Inc.
SpongeTech® Delivery Systems is a company which designs, produces, and markets unique lines of reusable cleaning products for Car Care, Child Care, Home Care and Pet Care usages. These sponge-like products utilize SpongeTech®'s proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponge-like products are pre-loaded with specially formulated ingredients such as soap, conditioner and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech® is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech® Delivery Systems, Inc. intends to globally brand its Company as “The Smarter Sponge™”. The company was founded in 1999 and is based in New York, New York.
About BUYINS.NET
WWW.BUYINS.NET is a service designed to help bonafide shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale. Buyins.net has built a proprietary database that uses Threshold list feeds from NASDAQ, AMEX and NYSE to generate detailed and useful information to combat the naked short selling problem. For the first time, actual trade by trade data is available to the public that shows the attempted size, actual size, price and average value of short sales in stocks that have been shorted and naked shorted. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.
BUYINS.NET has built a massive database that collects, analyzes and publishes a proprietary SqueezeTrigger for each stock that has been shorted. The SqueezeTrigger database of nearly 2,650,000,000 short sale transactions goes back to January 1, 2005 and calculates the exact price at which the Total Short Interest is short in each stock. This data was never before available prior to January 1, 2005 because the Self Regulatory Organizations (primary exchanges) guarded it aggressively. After the SEC passed Regulation SHO, exchanges were forced to allow data processors like Buyins.net to access the data.
The SqueezeTrigger database collects individual short trade data on over 7,000 NYSE, AMEX and NASDAQ stocks and general short trade data on nearly 8,000 OTCBB and PINKSHEET stocks. Each month the database grows by approximately 50,000,000 short sale transactions and provides investors with the knowledge necessary to time when to buy and sell stocks with outstanding short positions. By tracking the size and price of each month’s short transactions, BUYINS.NET provides institutions, traders, analysts, journalists and individual investors the exact price point where short sellers start losing money and a short squeeze can begin.
All material herein was prepared by BUYINS.NET, based upon information believed to be reliable. The information contained herein is not guaranteed by BUYINS.NET to be accurate, and should not be considered to be all-inclusive. The companies that are discussed in this opinion have not approved the statements made in this opinion. A third party has paid $995 per month to purchase data for information provided in twelve monthly reports. The data service can be cancelled at any time. The third party or its affiliates own shares of SPNG and can benefit from a rise in the share price. This opinion contains forward-looking statements that involve risks and uncertainties. This material is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. BUYINS.NET is not a licensed broker, broker dealer, market maker, investment banker, investment advisor, analyst or underwriter. Please consult a broker before purchasing or selling any securities viewed on or mentioned herein. BUYINS.NET will not advise as to when it decides to sell and does not and will not offer any opinion as to when others should sell; each investor must make that decision based on his or her judgment of the market.
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This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a companies' annual report on Form 10-K or 10-KSB and other filings made by such company with the SEC.
explain what?
The class action lawsuit or the NEARLY ONE BILLION shorted SPNG shares?
Here is some DD into the shorting of SPNG:
http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=24695219&topic=SPNGE&symbology=null&cp=off&webmasterId=89753
SpongeTech(R) Delivery Systems, Inc. (SPNG) Squeeze Trigger Price is $0.09. Approximately 972 Million Shares Shorted Since December 2006 According to Buyins.net Research Report
SpongeTech(R) Delivery Systems, Inc. (SPNG) Squeeze Trigger Price is $0.09. Approximately 972 Million Shares Shorted Since December 2006 According to Buyins.net Research Report
Aug. 31, 2009 (Business Wire) -- SpongeTech® Delivery Systems, Inc. “The Smarter Sponge™ (OTCBB: SPNG) announced today that BUYINS.NET, www.buyins.net, is initiating coverage of SpongeTech® Delivery Systems after releasing the latest short sale data to August 2009. From December 2006 to August 2009 approximately 12.6 billion total aggregate shares of SPNG have traded for a total dollar value of approximately $1.13 billion. The total aggregate number of shares shorted in this time period is approximately 972 million shares. The SPNG SqueezeTrigger price of $0.09 is the volume weighted average short price of all short selling in SPNG. A series of short squeezes has begun as shares of SPNG have jumped from $0.006 to $0.22 and 99% of all shares shorted in SPNG are now out-of-the-money. To access SqueezeTrigger Prices ahead of potential short squeezes beginning, visit http://www.buyins.net.
Month Total Vol. Short Vol. Avg. Price Short $ Value
12/29/2006 150,000 11,550 0.2075 $2,397
1/31/2007 179,000 13,783 0.1350 $1,861
2/28/2007 535,700 41,249 0.1900 $7,837
3/30/2007 1,496,000 115,192 0.1850 $21,311
4/30/2007 4,695,154 361,527 0.1967 $71,112
5/31/2007 7,144,891 550,157 0.1950 $107,281
6/29/2007 5,250,137 404,261 0.1425 $57,607
7/31/2007 7,891,632 607,656 0.0950 $57,727
8/31/2007 6,423,566 494,615 0.0788 $38,976
9/28/2007 6,086,639 468,671 0.0902 $42,274
10/31/2007 10,565,011 813,506 0.0738 $60,037
11/30/2007 21,375,974 1,645,950 0.0525 $86,412
12/31/2007 46,577,400 3,586,460 0.0403 $144,534
1/31/2008 49,644,868 3,822,655 0.0248 $94,802
2/29/2008 90,164,328 6,942,653 0.0302 $209,668
3/31/2008 136,771,952 10,531,440 0.0273 $287,508
4/30/2008 156,957,184 12,085,703 0.0309 $373,448
5/30/2008 184,506,944 14,207,035 0.0434 $616,585
6/30/2008 143,385,424 11,040,678 0.0487 $537,681
7/31/2008 111,369,960 8,575,487 0.0439 $376,464
8/29/2008 339,945,472 26,175,801 0.0384 $1,005,151
9/30/2008 434,852,544 33,483,646 0.0338 $1,131,747
10/31/2008 418,655,520 32,236,475 0.0280 $902,621
11/28/2008 226,767,232 17,461,077 0.0273 $476,687
12/31/2008 338,505,440 26,064,919 0.0264 $688,114
1/30/2009 438,992,096 33,802,391 0.0194 $655,766
2/27/2009 423,565,856 32,614,571 0.0144 $469,650
3/31/2009 661,219,200 50,913,878 0.0116 $590,601
4/30/2009 1,227,771,776 94,538,427 0.0185 $1,748,961
5/29/2009 1,590,875,520 122,497,415 0.0320 $3,919,917
6/30/2009 2,976,228,372 229,169,584 0.1373 $31,464,983
7/31/2009 1,719,142,528 132,373,975 0.1334 $30,571,222
8/31/2009 840,376,128 64,708,962 0.1633 $10,566,973
Total 12,628,069,448 972,361,347 $0.0898 $87,387,917
*short volume is approximated using a proprietary algorithm.
**average short price is calculated using a volume weighted average short price.
***short volume is the total short trade volume and does not account for covers.
Click here to view chart: http://www.buyins.com/images/spngstr8-26-09.jpg
Market Maker Friction Factor is shown in the chart below:
Date Change % Buy Vol Buy% Sell Vol Sell% Net Vol Friction
8/27/2009 0.0017 0.89 64,004,552 49.96 61,728,494 48.18 2,276,058 13,388,576
8/26/2009 0.0253 15.19 98,227,965 52.16 88,085,350 46.77 10,142,615 4,008,939
8/25/2009 0.0127 8.77 89,010,285 55.72 72,311,732 45.27 16,698,553 13,148,467
8/24/2009 0.0085 6.32 31,984,993 57.6 23,340,786 42.03 8,644,207 10,169,655
8/6/2009 -0.002 -1.37 35,536,303 46.23 41,065,408 53.43 -5,529,105 -27,645,525
8/5/2009 -0.0059 -3.84 27,933,395 49.92 27,740,564 49.57 192,831 bearish bias
8/4/2009 -0.002 -1.26 16,471,046 43.57 21,228,273 56.16 -4,757,227 -23,786,135
8/3/2009 0.007 4.61 25,443,789 46.38 29,077,807 53.01 -3,634,018 bullish bias
7/31/2009 0.0096 6.79 25,415,915 48.07 27,408,610 51.84 -1,992,695 bullish bias
7/30/2009 0.0042 3.08 13,186,865 42.67 17,663,265 57.15 -4,476,400 bullish bias
Click here to view chart: http://www.buyins.com/images/spngff8-28-09.jpg
Analysis of the Friction Factor chart above shows that in the trading days preceding this report that market makers have been making a positively biased market (70% bullish and 30% bearish bias to trading) in shares of SPNG. The Friction Factor displays how many more shares of buying than selling are required to move SPNG higher by one cent or how many more shares of selling than buying moves SPNG lower by 1 cent.
The chart below shows the broker dealers acting as market makers in shares of SPNG.
Rank Market Maker 2009 Volume % of Volume
1 Knight Equity Markets, L.P. 3,872,172,703 42
2 E*Trade Capital Markets Llc 1,221,151,096 13
3 UBS Securities LLC 1,176,368,331 13
4 Automated Trading Desk 402,003,438 4
5 Natexis Bleichroeder Inc. 383,986,206 4
6 Archipelago Trading Services 235,191,875 2
7 The Vertical Trading Group 222,139,136 2
8 Sterne, Agee & Leach, Inc. 197,670,966 2
9 Hudson Securities, Inc. 182,898,316 2
10 Pershing LLC 176,764,366 1
11 Burt Martin Arnold Securities 135,330,580 1
12 Finance 500, Inc. 130,290,819 1
13 vFinance Investments, Inc. 104,622,665 1
14 Domestic Securities, Inc. 74,284,152 <1
15 Martinez Ayme Securities 59,545,394 <1
16 BTIG, LLC 58,998,351 <1
17 Gunnallen Financial, Inc 50,354,106 <1
18 Stockcross Financial Services 47,037,686 <1
19 Vandham Securities 41,939,843 <1
20 Noble International Invest. 40,623,396 <1
21 Maxim Group LLC 35,405,133 <1
22 Puma Capital, Llc 30,469,560 <1
23 Murphy and Durieu 19,800,397 <1
24 Lampost Capital, L.C. 18,067,637 <1
25 Biltmore International Corpor 13,818,464 <1
26 Lighthouse Financial Group, L 13,272,957 <1
27 LaBranche Financial Services 12,748,477 <1
28 Collins Stewart LLC 12,546,564 <1
29 Wilson-Davis & Co. Inc. 7,595,183 <1
30 Pali Capital 5,735,389 <1
31 Jesup & Lamont Securities Cor 5,102,866 <1
33 MERCATOR ASSOCIATES, LLC 3,840,000 <1
34 CAPITAL PATH SECURITIES, LLC 2,750,000 <1
Click here to view chart: http://www.buyins.com/images/spngmm8-26-09.jpg
SpongeTech® has been on the OTCBB Threshold Security List (“naked short list”) a total of 85 trading days since January 1, 2005 and is presently on the list from July 24, 2009 to through August 25th, a total of 23 consecutive trading days. Short sellers and the broker dealers accepting their short sale orders are out-of-compliance with the new Reg SHO buy-in requirement at the time this report was generated. In late October 2008 the SEC updated Regulation SHO requiring that all short sellers must locate, borrow and deliver any shares they have shorted, no exceptions, by T+3 settlement date. If not, a buy-in must be forced by the broker dealer that the short seller transacted through by the opening of the market on T+4. Since a company first appears on the naked short list when short sellers have been failing to deliver for 5 consecutive trading days, SPNG should theoretically never be on the naked short list again. BUYINS.NET will monitor the OTCBB naked short list daily and issue an alert and notify the SEC and FINRA should short sellers fail to deliver and SPNG continues on the exchange’s Threshold Security List.
The chart below shows the daily failures to deliver for the 10 trading days ending July 31, 2009.
DATE SYMBOL QUANTITY (FAILS) DESCRIPTION PRICE
20090720 SPNG 14,725,754 SpongeTech® Delivery Systems, I $0.10
20090721 SPNG 9,471,912 SpongeTech® Delivery Systems, I $0.12
20090722 SPNG 8,088,135 SpongeTech® Delivery Systems, I $0.11
20090723 SPNG 5,200,621 SpongeTech® Delivery Systems, I $0.12
20090724 SPNG 4,272,930 SpongeTech® Delivery Systems, I $0.13
20090727 SPNG 356 SpongeTech® Delivery Systems, I $0.13
20090728 SPNG 322,000 SpongeTech® Delivery Systems, I $0.16
20090729 SPNG 140,175 SpongeTech® Delivery Systems, I $0.15
20090730 SPNG 6,666,574 SpongeTech® Delivery Systems, I $0.14
20090731 SPNG 16,065,416 SpongeTech® Delivery Systems, I $0.14
Click here to view above chart: http://www.buyins.com/images/spngftd8-26-09.jpg
Click here for complete data file: http://www.buyins.com/images/spngftd8-26-09.xls
Click here to view entire chart: http://www.buyins.com/images/spngftdchart8-26-09.jpg
About SpongeTech® Delivery Systems, Inc.
SpongeTech® Delivery Systems is a company which designs, produces, and markets unique lines of reusable cleaning products for Car Care, Child Care, Home Care and Pet Care usages. These sponge-like products utilize SpongeTech®'s proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponge-like products are pre-loaded with specially formulated ingredients such as soap, conditioner and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech® is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech® Delivery Systems, Inc. intends to globally brand its Company as “The Smarter Sponge™”. The company was founded in 1999 and is based in New York, New York.
About BUYINS.NET
WWW.BUYINS.NET is a service designed to help bonafide shareholders of publicly traded US companies fight naked short selling. Naked short selling is the illegal act of short selling a stock when no affirmative determination has been made to locate shares of the stock to hypothecate in connection with the short sale. Buyins.net has built a proprietary database that uses Threshold list feeds from NASDAQ, AMEX and NYSE to generate detailed and useful information to combat the naked short selling problem. For the first time, actual trade by trade data is available to the public that shows the attempted size, actual size, price and average value of short sales in stocks that have been shorted and naked shorted. This information is valuable in determining the precise point at which short sellers go out-of-the-money and start losing on their short and naked short trades.
BUYINS.NET has built a massive database that collects, analyzes and publishes a proprietary SqueezeTrigger for each stock that has been shorted. The SqueezeTrigger database of nearly 2,650,000,000 short sale transactions goes back to January 1, 2005 and calculates the exact price at which the Total Short Interest is short in each stock. This data was never before available prior to January 1, 2005 because the Self Regulatory Organizations (primary exchanges) guarded it aggressively. After the SEC passed Regulation SHO, exchanges were forced to allow data processors like Buyins.net to access the data.
The SqueezeTrigger database collects individual short trade data on over 7,000 NYSE, AMEX and NASDAQ stocks and general short trade data on nearly 8,000 OTCBB and PINKSHEET stocks. Each month the database grows by approximately 50,000,000 short sale transactions and provides investors with the knowledge necessary to time when to buy and sell stocks with outstanding short positions. By tracking the size and price of each month’s short transactions, BUYINS.NET provides institutions, traders, analysts, journalists and individual investors the exact price point where short sellers start losing money and a short squeeze can begin.
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Source: Business Wire (August 31, 2009 - 9:32 AM EDT)
News by QuoteMedia
lol no thanks, i dont know much about the whole thing , i mean i read few things on it , it was big news , but I never really followed it.
Penny , open your eyes, SPNGE raised the A/S to 3 BILLION shares, why? Hello , because the SEC IS making them come clean on the share count and it not even close to what SPNG has been saying it was , thus the SEC halt of trading , the only reason the 3BILLION A/S is now they are going to be FORCED to come clean on exactly how many shares DF & RME have been floating all over world (i.e. german bourses off shore) , etc.... Please dont tell me you actually think the share count is 723/m and the float is like 200/m? lol....
good post , SPNG has been the biggest winner for me this year , traded it 6x this year made a killing , never held more then few days at most , knew it was going to get shut down , the red flags are so clear , but I am going to trade it on the 16th or 17th for sure , it will present opps to make quick buck , but we are talking hours / minutes holding selling , this one is a total setup scam , but remember , nearly one BILLION shorted shares are going to try to cash out , it is going to spike wildly intraday for a few days , then will come the class action BS , it is going to swing wildly , but if u get in , get out fast u can do well , but dont get caught falling in love long with this one for sure.... imo
Class action lawyers will FEAST on what is left of the SPNG carcass after it resumes trading. Trust me , you WILL find well more then 1 law firm ready to pounce on this scam. IMO of the FACTS
Imagine the money the shorts made on this , wow.
Nearly a BILLION shorted shares , they knew exactly what was going on with this one , hundreds of posters knew it , it was so clear , say what you will , the shorts had this one bullseyed in , and I HATE shorts, it should be BANNED unless it is 100% covered and ONLY for use in large option like trades as a hedge , the current short rules are a joke and hurting our markets, I hate the shorts, but , Facts , they rolled over you SPNG longs and are about to eat every penny you invested.... wow....
I bought same at $.05 and more at $.10 , will sell at $.50 / $1.00 VERY soon IMO
IMO ABTG will be fine after a R/S , sure it will sell off when announced , it will trade sidways after it goes thru , but the tech is real , the future is bright , ABTG WILL succeed , it will take time and a few lumps as it goes thru the growing pains , but this is NOT the typical "pink sheet" with 100 billion OS and the only thing it can ever do is sell sahres forever , true , they have had to sell shares for next to nothing to get it going , but it does have a future unlike the examples others mention , they are in with Duke , Verizon other biggies , this thing is real , it is not a typical r/s stinky pinkie, I plan on buying when it does split and sells off , rebuild a new postion, I plan to sell at or near $.50 , then it will r/s , and I will rebuy double down after the sell off and it settles down. IMO
I guess a HUGE > I TOLD YOU SO! is in order.
SPNGE BOOKS ARE COOKED > END OF STORY.
Once it opens on the 16th it will drop to sub penny prety quickyl , then the class actions lawsuit lawyers will come in and feed on the carcass.... It is ALL over SPNG heads ,,,, dont deal.
class action lawyers WILL be feeding on the SPNGE carcass before long.
LOL , LOSING BIG MONEY HERE R U ? if it was not true DT would sue them , we would have heard about it, The FACTS are DT is NOT currently doing ANY work for SPNG , maybe , very slim maybe after SPNGE files the 08/09 fiasco they will , but we ALL KNOW once they file the 08/09 redo it is going to lead to huge SEC problems , IMO SPNG does NOT file it , goes pink , then grey , class action lawyers feed on the carcass.... IMO
Deloitte spokesman Keith Lindenburg told The Post, contradicting previous statements by SpongeTech CEO Michael Metter that Deloitte will oversee Robison's work on the 2009 audit.
http://www.nypost.com/p/news/business/sec_looks_for_spongetech_stain_FCciNOhArPuw8oFLU0DNaN
Lets make SURE Everyone knows waht a TOTAL scam this company is and is being run by.
The Company does not have permanent employees. An unsalaried Officer currently manages the Company affairs from his home.
Management has developed a strategic plan to raise capital, develop its management team and
increase its acquisition of synergistic properties. Management anticipates generating little or no
revenue during 2009. The major shareholder of the Company has indicated commitment to fund
the operations of the Company until the Company can generate cash flow from operations.
Authorized – 350,000,000 common shares of $.001 par value
Issued and outstanding - 76,277,068 common shares
The Company authorized 50,000,000 preferred shares and issued 1,000,000 shares, $.001 par
value per share (the “Super Voting Preferred Shares”) to Jim Dial in consideration for a long-term
executive contract. These shares may act by written consent in the same manner as the Common
Stock, upon the basis of four hundred (400) votes for each share of Super Voting Preferred Stock
The Company proposed a 200:1 reverse split of their common shares and a name change to
“Riverdale Capital Corp.” at a special meeting held July 31, 2009. This proposed resolution was
voted on by the shareholders, was passed by resolution, and became effective at that meeting.
The company began trading in the Pink Sheets as Riverdale Capital Lrd. Under the symbol
“RICP” on August 26, 2009.
On September 3, 2009 the company acquired Internet Properties Group, Inc. for 6,430,000 shares
of its common stock.
The undersigned hereby certifies that the information herein is true and correct to the best of their
knowledge and belief.
Date: April 24, 2009 1st Texas Natural Gas, Inc.
By: /Jim Dial
President
http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=24404
We have a winner here with ABTG , the ONLY issue is the share structure. They have had to sell those nasty convertibles for years to keep this alive, it has taken long time for the tech to mature and the market catch up catch on , The share structure IS going to need to be fixed before it can uplist or go much over $.50 pps, if they start to make monies they can do some buybacks , but cash is really thin now , maybe get some new financing and try to buyout the rest of the convertibles w/cash , but IMO we are going to see a R/S , but , I dont think we will see it until we get closer to $.50 share and ready to sign big contract for uplist , then they will do the r/s , take the lumps , get solid financing and get listed. If you go review some of those form 4s , they have MILLIONS of shares that converted at .01 going to market , they are holding us back , the structure is only thing holding us back here , it needs ot be addressed. I am long strong ABTG , but hate the share structure , hope we can get thru it easily w/o to much damage.... IMO
SpongeTech Gets Squeezed
The New York Post is tossing a whole lot of mud at SpongeTech. And it sure looks to us like it's sticking.
the New York city-based cleaning products maker, which trades on the Bulletin Board, came under serious attack by the New York tabloid last Friday. The Post is alleging that SpongeTech is falsifying revenue by booking sales to fictitious customers. SpongeTech dropped to 8 cents a share on Friday, down from 9 cents the day before.
SpongeTech claimed in an SEC filing that six customers accounted for 99.4% of its sales, or nearly $31 million, for the first nine months of its fiscal year. The firms are SA Trading Company, US Asia Trading, Dubai Export Import Company, Fesco Sales Corp., New Century Media and Walgreen(WAG Quote).
Unfortunately, after much searching, the reporters over at the Post could not track down a single representative for any of those companies except Walgreen. For example, the Post said it called the number SpongeTech provided for the Dubai Export Import Company only to see that number "disabled" a few hours later.
"Calls to the phone numbers SpongeTech provided for the other four companies also led to receptionists who took messages. They were all disabled shortly afterwards," reported the Post.
SpongeTech, famous for its "Smarter Sponge," responded on Friday with a press release calling the Post's accusations "inaccurate." The company maintained its operations were squeaky clean and that the customers cited in their financial statements are all current and active.
"We believe that a number of documents cited in press reports about the company are internet forgeries being used by short sellers and stock speculators to undermine the integrity of the company and profit from the adverse publicity," said the folks at SpongeTech.
They went on to say that statements in the press that SpongeTech must restate its financial statements are "wrong." What's actually happening says the company, is that it has hired a new accountant to "re-audit," its books, not restate them.
Hopefully the new auditor will have an easier time finding SpongeTech's so-called customers than the Post did. But we doubt they will.
If there is one thing we know, it's that those guys at the Post have put the squeeze on SpongeTech.
http://www.thestreet.com/story/10606281/1/the-five-dumbest-things-on-wall-street-oct-2.html
That is the core , that is the core agreement RME operates under still today , that shows you the true direction of the SPNG share structure , it is being used exactly the same way today as it was in 06 , just x100 on the size of the trades.... nothing has changed , just upped the stakes.... imo
read it - no one made it up - this is from spng sec filing -we are talking rme here.... rme is being used at arms length when they r in fact spng in all reality impo
From time to time, the selling stockholders may engage in short sales, short
sales against the box, puts and calls and other transactions in our common
shares, and will be able to sell and deliver the shares in connection with those
transactions or in settlement of securities loans. In effecting sales, brokers
and dealers engaged by the selling stockholders may arrange for other brokers or
dealers to participate in those sales. Brokers or dealers may receive
commissions or discounts from the selling stockholders (or, if any such broker
dealer acts as agent for the purchaser of those shares, from the purchaser) in
amounts to be negotiated (which are not expected to exceed those customary in
the types of transactions involved). Brokers and dealers may agree with the
selling stockholder to sell a specified number of shares at a stipulated price
per share and, to the extent those brokers and dealers are unable to do so
acting as agent for a selling stockholder, to purchase as principal any unsold
shares at the price required to fulfill the broker dealer commitment to a
selling stockholder.
http://www.sec.gov/Archives/edgar/data/1201251/000114420406015283/v040558_424b3.txt
read it - i did not make it up - it is in spng sec filing -we are talking rme here....
From time to time, the selling stockholders may engage in short sales, short
sales against the box, puts and calls and other transactions in our common
shares, and will be able to sell and deliver the shares in connection with those
transactions or in settlement of securities loans. In effecting sales, brokers
and dealers engaged by the selling stockholders may arrange for other brokers or
dealers to participate in those sales. Brokers or dealers may receive
commissions or discounts from the selling stockholders (or, if any such broker
dealer acts as agent for the purchaser of those shares, from the purchaser) in
amounts to be negotiated (which are not expected to exceed those customary in
the types of transactions involved). Brokers and dealers may agree with the
selling stockholder to sell a specified number of shares at a stipulated price
per share and, to the extent those brokers and dealers are unable to do so
acting as agent for a selling stockholder, to purchase as principal any unsold
shares at the price required to fulfill the broker dealer commitment to a
selling stockholder.
http://www.sec.gov/Archives/edgar/data/1201251/000114420406015283/v040558_424b3.txt
SPNGE Insiders have been shorting SPNG stock for LONG time, they have made multiple MILLIONS of dollars shorting SPNGE, they make money as they destroy retail investors , they have played all "LONGS" like a bunch of chumps , if you go back into the early SPNG filings when they created SPNG the proof is right there for everyone to see.... see filing below , They use the RME unregistered restricted shares to short , it is hard to sell those unregistered shares but easy to use them as collateral to short , to sell they have to do the opinion letter thing , and we know that did not go well and is not easy , so they shorted it to the tune of 2+BILLION shares and make/made a kiling as "longs" buy and thus pay to destroy their own investment > IMPO of the FACTS
FROM EARLY SPNG FILING > THIS IS THE CORE MENTALITY AND CORE BELIEF OF THE SPNG SHARE STRUCTURE IMPO:
From time to time, the selling stockholders may engage in short sales, short
sales against the box, puts and calls and other transactions in our common
shares, and will be able to sell and deliver the shares in connection with those
transactions or in settlement of securities loans. In effecting sales, brokers
and dealers engaged by the selling stockholders may arrange for other brokers or
dealers to participate in those sales. Brokers or dealers may receive
commissions or discounts from the selling stockholders (or, if any such broker
dealer acts as agent for the purchaser of those shares, from the purchaser) in
amounts to be negotiated (which are not expected to exceed those customary in
the types of transactions involved). Brokers and dealers may agree with the
selling stockholder to sell a specified number of shares at a stipulated price
per share and, to the extent those brokers and dealers are unable to do so
acting as agent for a selling stockholder, to purchase as principal any unsold
shares at the price required to fulfill the broker dealer commitment to a
selling stockholder.
http://www.sec.gov/Archives/edgar/data/1201251/000114420406015283/v040558_424b3.txt
SPNGE Insiders have been shorting SPNG stock for LONG time, they have made multiple MILLIONS of dollars shorting SPNGE, they make money as they destroy retail investors , they have played all "LONGS" like a bunch of chumps , if you go back into the early SPNG filings when they created SPNG the proof is right there for everyone to see.... see filing below , They use the RME unregistered restricted shares to short , it is hard to sell those unregistered shares but easy to use them as collateral to short , to sell they have to do the opinion letter thing , and we know that did not go well and is not easy , so they shorted it to the tune of 2+BILLION shares and make/made a kiling as "longs" buy and thus pay to destroy their own investment > IMPO of the FACTS
FROM EARLY SPNG FILING > THIS IS THE CORE MENTALITY AND CORE BELIEF OF THE SPNG SHARE STRUCTURE IMPO:
From time to time, the selling stockholders may engage in short sales, short
sales against the box, puts and calls and other transactions in our common
shares, and will be able to sell and deliver the shares in connection with those
transactions or in settlement of securities loans. In effecting sales, brokers
and dealers engaged by the selling stockholders may arrange for other brokers or
dealers to participate in those sales. Brokers or dealers may receive
commissions or discounts from the selling stockholders (or, if any such broker
dealer acts as agent for the purchaser of those shares, from the purchaser) in
amounts to be negotiated (which are not expected to exceed those customary in
the types of transactions involved). Brokers and dealers may agree with the
selling stockholder to sell a specified number of shares at a stipulated price
per share and, to the extent those brokers and dealers are unable to do so
acting as agent for a selling stockholder, to purchase as principal any unsold
shares at the price required to fulfill the broker dealer commitment to a
selling stockholder.
http://www.sec.gov/Archives/edgar/data/1201251/000114420406015283/v040558_424b3.txt
The 8K specifically says the investigation is into possible securities laws violations "by the company" and/or other persons.
BUT CLEARLY > "The Company" itself IS being investigated for possible securities laws violations
On September 18, 2009, the Company received a formal order of investigation issued by the SEC regarding possible securities laws violations by the Company and/or other persons. At this time, it is not possible to predict the outcome of the investigation nor is it possible to assess its impact on the Company. The Company and its officers and directors have received subpoenas requesting the delivery of certain documents. The Company has been cooperating fully, and intends to continue to cooperate fully, with the SEC with respect to its investigation.
http://www.sec.gov/Archives/edgar/data/1201251/000114420409050122/v161351_8k.htm
very educated guess... the games are OVER IMO .eom
Because they KNOW the lies and games are OVER , That is why , SEC is on to them , no more illegal games with share structure.... SPNGE is busted IMO
NOT TRUE - Please post were management said any of this?
PR said DT will take over AFTER the 08/09 10k audits are completed , and DT approves them. DT is currently NOT helping , looking over , assiting SPNGE with anything , once they get the 08/09 10k audits filed, then if DT approves of the filings, THEN they will MAYBE take over from there... big IF / MAYBE IMO
u r kidding right ? (tic?)
per your post:
- Did the company raise A/S at the request of the SEC to match trading volume/O/S + air shares?
- What if SPNG proved to the SEC in the subpoenaed documents that they control only but a tiny fraction of the O/S? Wouldn't this be the perfect way to expose the enormous NSS?
ARE YOU SERIOUS!?!?
In My Opinion SPNG books are cooked
Date: Saturday, January 31, 2009 11:57:08 PM
U know the irony of it all?
I made a KILLING trading SPNG stock in 2009 lol
The manipulation was so easy to see , but u cant hold this thing long term , in/out SAME DAY most of time , I traded SPNG 7X - Got out at about .17 last time , before the run to the all time high , got back in about .14 and sold out within HOURS after that plunge from .25 to .08 intraday , i bought and sold last time that day , lost $100 ON THAT trade , my only money losing trade in SPNG , but when I saw that dump from .25/.08 back to like .14 sameday , I knew this thing was about to implode and could no longer be relied on for even trustworthy day trades... IMO
short-swing TRADES:
short swing rules
Definition
A rule that restricts company insiders from making short swing profits. The company and/or its other shareholders are entitled to recover the profits earned by the insider.
http://www.investorwords.com/4562/short_swing_rules.html
Doug Furth and "The Group" have alledgedly used this tatic in the recent past. Per GWS TECHNOLOGIES, INC (GWSC.OB) Form 10QSB/A on 25-Sep-2008
http://biz.yahoo.com/e/080925/gwsc.ob10qsb_a.html
SPNGE Insiders have been shorting SPNG stock since day 1 , they are going next week and have made multiple MILLIONS of dollars shorting SPNGE, they make money as they destroy retail investors , they have played you all like a bunch of chumps , if you go back into the early SPNG filings when they created SPNG the proof is right there for everyone to see.... They use the RME unregistered restricted shares to short , it is hard for them to sell them , have to do the opinion letter thing , and we know that did not go well and is not easy , so they short them , short it to the tune of a BILLION shares and make a kiling as you longs buy and thus pay them to destroy your investment IMPO of the FACTS
From time to time, the selling stockholders may engage in short sales, short
sales against the box, puts and calls and other transactions in our common
shares, and will be able to sell and deliver the shares in connection with those
transactions or in settlement of securities loans. In effecting sales, brokers
and dealers engaged by the selling stockholders may arrange for other brokers or
dealers to participate in those sales. Brokers or dealers may receive
commissions or discounts from the selling stockholders (or, if any such broker
dealer acts as agent for the purchaser of those shares, from the purchaser) in
amounts to be negotiated (which are not expected to exceed those customary in
the types of transactions involved). Brokers and dealers may agree with the
selling stockholder to sell a specified number of shares at a stipulated price
per share and, to the extent those brokers and dealers are unable to do so
acting as agent for a selling stockholder, to purchase as principal any unsold
shares at the price required to fulfill the broker dealer commitment to a
selling stockholder.
http://www.sec.gov/Archives/edgar/data/1201251/000114420406015283/v040558_424b3.txt
Yes it says possible , never said it didnt? the arguement was not about possible , he was saying the investigation had nothing to do with "the company" it was only investigation into officers and or others , but not "the company" itself.
SPNGE will go sub penny in few days IMO , if it does not get halted first. IMO
NO > FIRST Its says "regarding possible securities laws violations by the Company..."
BY THE COMPANY Then the AND/OR , But clearly FIRST IT MAKES it very CLEAR > possible securities laws violations by the Company
On September 18, 2009, the Company received a formal order of investigation issued by the SEC regarding possible securities laws violations by the Company and/or other persons. At this time, it is not possible to predict the outcome of the investigation nor is it possible to assess its impact on the Company. The Company and its officers and directors have received subpoenas requesting the delivery of certain documents. The Company has been cooperating fully, and intends to continue to cooperate fully, with the SEC with respect to its investigation.
http://www.sec.gov/Archives/edgar/data/1201251/000114420409050122/v161351_8k.htm
what? it clearly says > securities laws violations by the Company and/or other persons
SEC investigation AND raising authorized shares OVER 3BILLION .. 3,000,000,000 + SHARES wow...
On September 18, 2009, the Company received a formal order of investigation issued by the SEC regarding possible securities laws violations by the Company and/or other persons. At this time, it is not possible to predict the outcome of the investigation nor is it possible to assess its impact on the Company. The Company and its officers and directors have received subpoenas requesting the delivery of certain documents. The Company has been cooperating fully, and intends to continue to cooperate fully, with the SEC with respect to its investigation.
http://www.sec.gov/Archives/edgar/data/1201251/000114420409050122/v161351_8k.htm
lol .... it has zero revenues , no installations, tons of high tech heavily funded competitors , this is beyond a lotto ticket , u cant even connect any of this to current "RCCH" pink sheet cuspid to boot!
What is the latest news on the SEC, DOJ and Senate Investigations into ERHE? Do you think the active ongoing investigations are holding the price back a little? Or is a complete reversal, i.e. dropping of the investigations, priced into the current stock price?
Here is todays email - very interesting - you should sign up for his free email - it is usually very interesting , however - sometimes he can really go overboard with some things, but he is pure silver guy , I enjoy that
The Tiny $0.001 Trillion Silver Market
(Millions, Trillions and Billions, Oh My!)
Silver Stock Report
by Jason Hommel, September 25th, 2009
The Silver Market is small. Very small. I don't think people quite understand how small it is, nor understand fully the implications, meaning how much higher silver prices must go as the market grows to accommodate future silver buyers.
Confusing matters is that the terms million, billion, and trillion mean different things, in different nations, and other nations also have different notations for how to write numbers exceeding 1000. Furthermore, most Americans are also unfamiliar with the terms, since most people don't use these terms in daily life. Who needs a billion french fries? But you do need to understand the numbers, in order to interpret political events, such as the amounts being spent by Congress.
Here are the American conventions, which I use in my writings. A thousand is written as 1000 and is notated with commas as 1,000. In America, we use a comma after every three zeros, starting from the far right, so every comma signifies another multiple of 1000.
A million is a thousand thousand. 1000 x 1000 = 1,000,000, also written as a million.
A billion is a thousand million. 1,000 x 1,000,000 = 1,000,000,000 also written as a billion.
A trillion is a thousand billion. 1,000 x 1,000,000,000 = 1,000,000,000,000 also written as a trillion.
A quadrillion is a thousand trillion 1,000 x 1,000,000,000,000 = 1,000,000,000,000,000 also written as a quadrillion.
Knowing that, we can now interpret the following key figures:
The annual Federal Budget these days is about $3 trillion, which can also be written as $3000 billion, or $3,000,000 million, or $3,000,000,000,000.
http://en.wikipedia.org/wiki/United_States_federal_budget
World annual silver production is about 600 million ounces. World annual silver investment is about 50-100 million ounces. All of mine production, and more, including recycling, is consumed by industry, leaving very little left over for any investment.
At $16/oz., x 75 million oz. = $1,200 million, or $1.2 billion, or $0.0012 Trillion.
Again, let's compare:
US annual government spending: $3 trillion
World annual silver investment demand: $0.0012 Trillion
Can you say, "The US government is spending way more than exists in the entire world?" I can. It sounds funny to say it, but I understand what I mean when I say it.
But that's only silver, some will protest. But adding gold to the mix does not help. Watch.
World annual gold mine production is 2500 tonnes, which is (x 32,151 oz/tonne) is 80.3 million ounces. At $1000/oz., that's $80 billion dollars, or $0.08 Trillion.
See, not even all the gold in the entire world's annual production would help the US budget. Gold would have to increase by a factor of 3000 / 80, which is 37.5 times, in order for the entire world's gold production to equal the US government's annual budget. See, gold will go way above $37,500/oz. by the time this bull market in gold is finished, because there are other people in the world who want gold in addition to the US government.
China wants gold. China has said they want $80 billion worth of gold. China has $2130 billion to spend on gold, or $2.13 trillion of foreign exchange reserves.
http://en.wikipedia.org/wiki/Foreign_exchange_reserves_of_the_People%27s_Republic_of_China
If China tries to buy a mere $80 billion of gold within one year, the gold price will likely head to $1500 to $2000/oz. this year. But China does not want to push up the price of gold to make it double in price. If they do, the value of the remainder of their $2130 billion will be cut in half.
Too bad for China, they have no choice. The value of their paper money will be cut by 95% or more anyway, even if they do nothing, as other nations, besides the US and China, also want gold. So it will come down to the reality, for everyone, that some gold is better than no gold! And silver, of course, is always better than gold, because silver will increase in value much faster!
China also wants their own people to buy silver!!! !!!
Yes , That same question needs to be answered to UPLIST, The way SPNGE plays games with RM , issuing stock and cancelling right before a filing , then reissuing it days later , plus funnelling it to SPNG/RME control persons is illegal , the SEC had a LONG list of similiar questions last timne SPNG tried to register shares thru prospectus , the minute these questions came up SPNG withdrew the offerings and tried to hide. Thus we have what we have today , SPNG issuing BILLIONS of "unregistered" shares , they failed to register shares thru prospectus offerings so they issue unregistered restricted stock and use the RME control relationship to manipulate the share structure and payment to officers imo , and YES to uplist these same questions , and many more will need to be answered in greater detail.
Go read all of the UPLOAD filings from SEC to SPNG
and ALL of SPNG answers to the SEC before they withdrew offering IN 2006. These same questions and many more still need to be answered, just becuase they failed to answer them in 2006 does not mean they dont have to answer them! lol.....
Here are the Links:
UPLOADS are SEC Questions:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001201251&type=upload&dateb=&owner=include&count=40
CORRESP are the SPNG answers to the UPLOADS:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001201251&type=CORRESP&dateb=&owner=include&count=40
Here is link to ALL SPNG SEC filings:
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001201251&owner=include&count=40
SEC is going to get these questions answered one way or another. Just becuase SPNGE chose to withdraw the offering when they could not correctly disclose and answer SEC questions in 2006 , does NOT mean they dont have to answer the questions......