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Same here. The stock is worthless anyway might as well hold.
I can not believe they couldn't sell mapsand with all the border problems this country has.
Pat once told me told he felt that he thought the future of this company was in the nanofilters.
Who knows if they hold the rights to anything anymore.
Hopefully someday the shell will be worth something.
From e-mail by eastbridge today
EastBridge Investment Group_s Client,
Tsingda Education, Obtains Additional pre-IPO Funding
PHOENIX, AZ _ July 26, 2011 -- EastBridge Investment Group (EBIG) (OTC BB: EBIG.OB) (OTCQB: EBIG) announced today that its client, Tsingda Education, has obtained a private equity funding of $13.68 million.
Mr. Keith Wong, CEO of East Bridge, commented, _This is a very positive step before Tsingda_s IPO. The new private equity investor has bought 3,000,000 shares at $4.56 per share. Tsingda now has a pre-IPO market valuation of about $183,000,000. The previous private equity investors paid $1.60 per share in September 2010. We are working diligently with Tsingda to facilitate their IPO work._
EastBridge Investment Group focuses on high-growth companies in Asia , offering IPOs, Joint Ventures and Merchant Banking services. The Company targets industries in the education, internet, energy, mining and service sectors. To learn more about EastBridge Investment Group go to our web site: www.EbigCorp.com. To receive EBIG_s email alert, send a blank email to info@EbigCorp.com. Join us on Facebook at the following link: http://www.facebook.com/ebigcorp .
Forward-Looking Statements: Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
Contact:
Norm Klein
EastBridge Investment Group Corp.
480-966-2020
480-966-0808 (fax)
nklein@ebigcorp.com
Investor Relations:
Jack Eversull
The Eversull Group, Inc.
972-571-1624
214-469-2361 (fax)
jack@theeversullgroup.com
Well, I am only allowed 3 post, Imagine a dead stock and they still are afraid what people say about it.
WHY?
Unless they are naked
1.5 million shares trade on a company that listed on the grey's, locked and days from be revoked.
Nope, there no shorts here.
Richrichrich
EBIG is at the mercy of their clients. The purpose of their clients using EBIG is to raise money to build THEIR business not EBIG's.
Those clients don't feel now is the proper time to list because of the anti-china environment. Why should they have an IPO and raise only 50-70% of what they could raise if they wait a little longer to do so..
Remember the higher the price the clients get for their stock the more core value EBIG will be worth.
It has taken awhile but as shareholders we are lucky that the company is still in business and moving forward during a period in history where investment money is almost nonexistence.
Be patient and look at the positives two companies our filing with the SEC,others are being signed, clearance has been approved listing, and now it is only up to them when they are going to do it.
What even more disturbing than that, these shareholders have not failed to act as they are paying for several government agencies to make sure that "naked shorting" does not occur.
The failure is not with the shareholders, but those government agencies that fail to do their job.
The question was whether or not there was Criminal Intent here or were they trying to build a company. As it it is almost a foregone conclusion that M&M will be found guilty it will be interesting to see how severe their punishment will be.
In our legal society the level of punishment is dealt out according to criminal intent.
Example, 4 men are killed.
The first is shot by another man who hated him. The killer plans it for months before he kills the victim.
The second, a hunter is accidentally shot by another hunter.
The third, is killed by an escapee from an insane asylum.
The fourth is killed by a man that he was trying to kill.
In each case the result is the same, a man was killed by another. Yet the level of punishment is far different. In the fourth case the act by society is considered justified.
Our legal system hands out various levels of punishment based on intent, remorse and circumstances. No justification or stamp of approval of their action, just curiosity of what their intent was and how the legal system will view it.
The other issue of the post was speculation that IF the SEC did not step in would SPNG have built a legit company. If so would the value of that company be worth more than .28 cents a share.
Just out of curiosity:
"let me put this simply, they stole over $50 Million from shareholders.
How much of that 50 million went to all those sport contracts, launching new products, TV ads, contracts with Nick and Marvel employing 100 Americans.
What they did was completely wrong and illegal, But was it criminal intent or the only way they could raise money to build a company.
The question also remains out there if not for the shut down, and the company allowed to grow would those shareholder be loser to day.
You can use the argument that they were not doing that great of business. Yet they were in Walmart, CVS, Wallgreens etc.
Plus there products were rated by independent news people, with mostly two thumbs up ratings.
Patch, Every trade is the fault of the purchaser or seller.
We are talking about two separate issues. M&M probably did sell a lot of stock, but it may also be true that at the same time there might have been a large NSS position.
As far as blaming the Govt, from my experiences, pharmacy in the state of NY a serial number is attached to every prescription. When a prescription is filled for a narcotic that number along with the doctors id is transmitted to the state where the state use to monitor doctors prescription wrting practices.
You can not tell me in this paperless society, the the Govt having on computer the number of shares authorize and issued by a company can not instantly know when sales of stock of that company exceeds the number of shares legally available. That goes for insiders selling excess stock or NSS.
You say you can't blame the Govt, yet the Govt still allows this position to be traded. If it was a mislabeled (not even defected) bottle of aspirin it would have been pulled from the market.
Patch, I don't know about you but I think that a government that waste millions of dollars to try and convict a former ball player of perjury. Should be able to have the resources to protect its citizens.
Besides, I not referring to the Judge. I do believe the FBI, Dept of Justice are already collecting a pay check from those shareholders you refer to.
All I want is the truth the whole truth and nothing but the truth, unlike some that just want only their truth.
Patch
You provided the reason why a lot on this board, feel that the SEC is as much to blame as M&M.
From Patch "1. Obtaining certs today is much harder than it was in the past because the industry is going paperless. In SPNG the issue gets murkier as there is a question as to the legitimacy of the shares held by the DTCC due to accusations of the sale of unregistered securities. can the DTCC transmit, and the TA break up a certificate that the Commission believes is in the market illegally (i.e. never registered). "
As far as monitoring shock sales, the advantage of paperless compared to the old way is that every sale, to whom from whom, dollar amount, number, certificate numbers, location of those sales is only a click away.
I am not saying that there is NSS here, but if the SEC wanted to prove or disprove it wouldn't take much effort to do so.
For those that degraded others for not fully trusting the government.
J Edgar Hoover never kept secret files on individuals and used that information against them.
Joseph McCarthy never went on a witch hunt.
Bill Clinton never gave an intern top secret security clearance.
US government paid back all it borrowed from Social Security.
The government in power did not authorize a back ground check on Joe the Plumber for asking a simple question.
Think of these PR's as advertisements for the Company, and not for information for the stockholder.
What they are saying to other potential clients is "See we deliver what we promise. We can open doors for you to raise needed capital. Here is proof our service is valuable."
What if the case is dropped against MM?
From CC a positive, trading at 12-15 cents today, management expects it to be over 30 cents by June.
It was a very bad run conference call, at the end not many questions asked. I think because not to many were left, driven away by the echo.
On the positive side, for management to announce a RS with a specific date in mind, they must feel pretty confident that they are very close in delivering the goods.
One can only way and see. Me, I willing to wait.
CC: Management stands by that IF reverse split occurs there will be no dilution.
Soul purpose is to get listed on a Major exchange to attach larger investors to the company.
With continuing addition of clients comes additional worth to Eastbridge.
CC: After June 11 company believes share price to be above 30 cents a share, then company wants to move to AMEX with 10 to 1 Reverse Split. They will move cautiously be fore making the move.
Does it matter? Any sign of life is appreciated. More than one penny stock has risen from the dead. No market to sell what I have left, might as well dream.
Just visited the website, first time in a long time.
Were those last 2 links there before? I don't remember them being there, (Russian Acoustical Society and Institute of Applied Physics).
Don't look for any real movement here until Late April early May after the release of 11 first quarter 10q.
The book value of EBIG will increase greatly, when this occurs stock price will increase greatly.
You would think in this day and age of mega mirco computers that it would be so simple to track the sale of authorized and unauthorized stock certs.
How hard can be to issue an id number to a stock cert and track it.
They should know immediately if a stock being sold was beyond those authorized, non existent, or duplicate numbers.
It seems that it would be so simple to avoid the situation that occurred here and with other stock scams, with out it costing the government lot of money or manpower to protect us.
October is 2 weeks away, any news when the div shares are to be released?
Hopefully Bay will build his company yet.
Don't get to excited, remember the linux deal.
At least he isn't printing shares to make money.
I think it is a good sign that the last 2 positive PR occurred while the stock is restricted. It give you the feeling that there is so real meat behind them. Not just hype to sell shares.
What is really interesting about these last two announcements is that they occurred while the stock is not freely traded.
Whether or not the company does flourishes is anybody guess, but to release the PR now while the company is strapped for cash, has to make you think that it's more than hype.
What ever happen to the bankruptcy?
big lug
A Chapter 11 bankruptcy allows the company to stay in business and prevents creditors from disrupting operations.
A plan for reorganizing the business is approved by the courts and the company emerges with much less or no debt.
How stockholders fare in a Chapter 11 bankruptcy depends on the reorganization plan.
However, in many cases, existing stockholders are wiped out – the existing stock is often delisted by the exchanges and ceases trading.
Most likely if they go Chapter 11, current shares will be canceled.
New shares will issues current shareholders will probably end with nothing.
Riscare, (I consider this at this point a lost cause)
The part that bothers me, if I was running this scam, and I netted hundred million dollars, I would have paid off the those small advertising bills. If nothing else, just so not to have further attention drawn to me. Also if I was hiding the money I would just let the company go into chapter 7 and walk away. I wouldn't fight to keep it alive and I certainly would not expand the product line.
Nothing this company does adds up, maybe patch is correct maybe Mosk is a sociopath.
As far as the shares , in this day and age of computers, you would think that it would be so easy for the SEC to track every stock cert and every transaction of those certs.
You would spend part of it to stay hidden. Why bring further attention to yourself with these minor (minor if you made a hundred million in illegal stock sales) law suits, which brings unwanted public attention to you.
Can't argue the sociopath con man angle. But for the sake of argument SPNG could have been doing 50 million in revenue yet Dicon might have been only getting a very small percentage of that for production. Heck, they might have produce the product for SPNG at or below their cost for all we know.
I agree with the third. But liars aren't usually fighters. They usually distant themselves from the problem. Now a sociopath that a whole other story.
Patch, explain something for me if you could.
Mosk and Metter sold 3 billion shares and made a ton a money, yet neither have the funds to pay off a few million of SPNG debt.
SEC is claiming 3 billion sold,yet where are those shares.
Mosk seems to be trying to keep the company alive. Even to the point of bringing new products to market. Why bother?
If this is the death of SPNG do you classify it a SUICIDE or a MURDER?
Maybe you should try to contact these people www.amgeosystems.com/ if they are still in business.
They list the demarco patent as one of there asset.
Just for a moment lets separate M&M from SPNG.
While M&M may very well be guilty of stock manipulation.
BUT SPNG has delivered on Car Sponge, Marine Sponge, Pet Sponge, deals with Nick (Spongebob and Dora), pink panther and Marvel (Spider-man), tub and tile sponge, medical wash sponges, cosmetic wedges, dual-tip cotton applicators, cleaning buffs and foot driers.
Got into Walmart, Amazon, CVS, Costo, Walgreen, Price Chopper, Win Dixie, Shop Rite etc etc
Is there still a deal with a major corp (maybe lysol), who would do the advertising for them?
Is there still value here, time will tell.
I saw an interesting Ipad commercial the other day. It was about getting a New York Times paid subscription on the Ipad.
Electronic newspaper and magazine subscriptions might be the future of these media yet.
And just maybe, Vyon will grab a small piece of it.
If the spider-man sponge is coming to market and there are no more shares to sell, why bother?
Unless.................
Many base their labeling SPNG a scam based on the lawsuits against SPNG for not paying their bills.
There might be a simple cause for for those events to occur. Say SPNG had arranged a line of credit to handle the financial strain that comes with building a business. Say that with the negative press and SEC action brought against them (Suspension and Well Notice)that the line of credit was canceled, causing them a major cash flow problem.
I also find it interesting over the concern of a gagged TA, accusing them of hiding the truth, yet no cares about gagged posters who are trying to uncover it.
I can see your point,if the panther sponges and packaging were made up in advance and paid for.
I am not saying SPNG is a scam or saying it's not a scam. To me it is a major risk crap shoot, like all penny stocks. One that I was LUCKY enough to make money on, and have free shares to ride out to the end of this story.
I am asking if 3 billion shares were sold by M&M as they are charged, where are those shares. The volume of shares being sold since their arrest does not support 3 billion outstanding.
Even if the 3,000,000,000 shares sold at 0.001 it is still 3 million dollars value. Right now if there are 3 billion shares out there at current price of 0.006 they are worth 18 million dollars.
If the 10K is never coming out and the doors of Spongetech are closing, why are the auditors still there?
If there are no more shares to sell and SPNG was going out of business why waste the time and MONEY to launch new products?
If SPNG is a total scam, and M&M sold 3 billion shares, WHERE are those shares?
Certainly haven't been traded since M&M were arrested.
Whoever owns them, would certainly take something then end up with nothing.
By the way did the auditors quit yet?
Or are they still working on the 10k's and 10q's?