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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?
The Market drops 300 points and SPNG goes up 14%.
Here the question of the day.
Say the worst case happen, M&M go down all charges proven.
The question is
Who is going to face the brunt of the fines and lawsuits Spongetech or M&M?
The officers may go down doesn't mean the company will sink with them.
If I would make a guess, shortly after May 25, 10 am.
I want to dedicate this song to all my SPNG basher buddies.
Song to the tune of Gilligans Island
"Just sit right back and you'll hear a tale,
A tale of a fateful stock tip
That ended up in federal court
Because of a newspaper tip.
The mate was a mighty selling man,
The skipper crude and rude.
Stockholders thought they were on their way
For a trip to the moon, a trip to the moon.
(CRASH)
The stock price started going down,
when Kala wrote her piece,
If not for buying of Pike and his crew
Spongetech would be lost, Spongetech would be lost.
The stock ended on the Grey market a place considered
stocks exile
With MOSKOWITZ
And Metter too,
Former millionaires, who may get life,
the S E C
FBI and DOJ
During spongetech exile.
So this is the tale of the spongetech longs,
we're here for a long, long time,
We are hoping to see a rise in our stock,
but we will probably get it in the behind.
Metter and Moskowitz,
Will do their very best,
To take this young company,
and make it a tragic mess
No 10k's, no 10q's no outstanding shares,
Not a hint what going on,
Like the US congress,
we haven't got a clue.
So join us here each day my friends,
You're sure to get a smile,
From all the post on this message board,
During Spongetech exile."
Spng song Sing to the tune of" Where Oh Where has my little Dog Gone"
Oh Where Oh where has 3 Billion shares gone
Oh where Oh where can they be
They not being dumped on the OTC
So where oh where can they be
Spng song Sing to the tune of" Where Oh Where has my little Dog Gone"
Oh Where Oh where has 3 Billion shares gone
Oh where Oh where can they be
They not being traded on the OTC
So where oh where can they be
Many on this board wonder why some of us believe that there may be more to this story than what is being told.
I had the pleasure of being involved with an SEC investigation a few years back involving Encore Energy. It was PROVEN that signed SEC documents to raise the outstanding share of the company contained the forged signature of a former company officer.
The former officer testified that he never signed the documents.
The company is a real PUMP AND DUMP, no products or asses.
SEC did absolutely NOTHING, the company is still trading today. Making false claims selling more stock.
Not only is the company still trading, but the man who provided the forged document is at the same time running another pump and dump, Modern Technology all the while SEC turns a blind eye.
Here, the officers may be guilty, but here at least the company has products, and products do exactly what they say they do.
As far as promises they made concerning the introductions of product, expansion of line, getting into locations, they have done better than most pennies in fur filling these promises.
Independent test groups have given their products two thumbs up. Not to many pennies out there can make that claim,
I don't know how this will turn out.
If it turns out bad I could always join the class action suits later.
It it turns out good that would be great.
It just seems that an awful lot of attention have been given to this penny stock, and that officers of companies that done far worst never got this much attention.
Just because charges are brought against M&M it doesn't mean that they will be proven guilty, it also doesn't mean they won't.
Just in case they are proven guilty and end up in jail it doesn't mean the company is history (see Rite Aid).
Facts are they are in many many locations, and in my opinion, the SPNG stock price will still end much higher then it is today.
I will remain gullible and let my FREE 550,000 share ride to the end.
Spongetech is a real company with real products that work. 90% of the penny stocks can not make that claim.
They may very well go belly up, but so did GM, Lehman Brothers,
K-mart, Enron and thousand of thousands of other companies, hey that the stock market.
No need to respond, my 3 post are done for the day.
Then a few simple questions for you.
If M&M sold 3,000,0000,000 shares, even if they were for was only .01 (30 million dollars), where is the money?
Why couldn't M&M pay a mere 2 million dollar ad bill?
Why did Metter have to put up his house, and Mosk his parents house to make bail?
Why put any money into R&D for new products, get in to Walmart, sign a deal with Marvel, or launch new products, if there were no more shares to sell?
The government doesn't always get it right, just ask the innocent guy who was just released after spending 35 years in jail.
IMHO, I think this long from over.
It just doesn't add up.
According to SEC M&M dumped 3,000,000,000 shares on the market as part of a pump and dump.
Even at an average price of only 0.01 they would have pocketed 30,000,000 million dollars.
Yet they didn't have enough money to pay their bills, further more Metter had to use his home to secure his bail, while Mosk had to use his parents home.
Show me the money.
IMHHO, I think this is far from over.