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I agree Z4, we know the O/S is somwhere between 1 share and 900 million shares, and that is all we know!
That being said I think we are probably at 500 million, because they said that was the plan!
Fsshon, A mass re-valuation will be taking place,.....so i guess the question is, do you feel this stock, when split, will be less undervalued than it is now?
I think not,....I believe we will see a PPS multiple after the 1/100 multiple.
I think the brinkmanship between the NSS and Management is lovely to watch,.....but I wouldn't be also suprised, if the NSS have already developed a contigency for this situation.
A major run-up on the way to R/S isn't entirely out of the question then, huh.
I would expect a bombshell of 10k, complete with forward looking juicy bits of goodness, would only enhance the run, huh.
^^^^^^^(Above post complete with evil laugh)^^^^^^
This post is all in my head.,..,..,,did I say this outloud!
DAMNIT
Furthermore, the NSS will have to cover from an O/S consisting of between 1 and 9 million shares. ( 9 million per current A/S of 900 million divided by 100)
Thank you Z4, so on sep. 22nd brokers will send out margin calls, which will be "undelayable"?
I hate R/S, but I love strategy games!
We have a world leader in accounting, D&T, telling us a 1/100 R/S is what is needed.
I don't know bout the rest of you, but I imagine they have a handle on the big picture. And probably a bit of experience in the matters of uplisting and embedded NSS.
How long will embedded shorts have to cover as of sep. 22nd
new O/S can be no more than 9 million.
per 900 million current A/S.
unless they raise A/S between now and then.
Nasdaq has become imminent!
Q1 2010 profits are gonna be in the 12-15MM area, and with an O/S of 5 million, we stand at earnings of 2-3 dollars a share, just for the quarter.
At a multiple of 4(including the next three quarters), and also forsaking any growth in the next three quarters, we are looking at 8-12 dollars in earnings for the year.
I won't speculate on a PE ratio for the year, but that would put our PPS at sum huge number well into the hundreds of dollars.
That being said, I would look for a forward split or stock divy after we have established ourselves on NCM!
Wish they would have revealed the post-split O/S.
This company is like being in love with a mute.
--Bashers raise forcast to .17---
OnerichSOB says: Wow! I cannot believe that everyone knows I sold all my shares. WOW such smart people. I cannot wait to buy in again @ .17.
Karmasaur says: Another great basher confirmation
Cable dawg:
SPNG claims to be a technology company, not a sponge copmpany. I hope this helps answer why SPNG is interested in get fugu and their technology!
Karmasaur
Great post Alfie
Mingy, I found your post to be a bit narrowminded.
Mingy says: Sullivan' Gradual cover, NO CHANCE. The reason spongetech is not even close to fair value, despite all the buying, is because the naked shorts have continued their game of supplying the market with counterfeit shares, to continue to stay in business.. Are you serious when you said they will find a way to “gradually cover”? Shorts can be blown out, by something like a divided, merger, or something that causes a crisp change, at that point MM’s control nothing, reality does, and the reality is that this stock is worth more that $1. When that happens, the size of the naked short position will be exposed and they will be given a certain amount of time to cover, called days to cover. When this happens, shorty will not be able to keep a lid on the share price by printing air shares, so the path of least resistance will be up. We will have a wave of new buying from new investors, racing this thing up to fair value and shorty scrambling to cover his short position at the same time. Its going to be absolutely insane, 100%+ days will follow, the ideal of a gradual is not realistic. This is all in my opinion.
I say: First of all, noone knows the size of the nss here on the retail level. They may have few enuf that a shot at a gradual squeeze might be more appealing.
secondly If someone did short this big, they are probably not stupid, and to think they haven't racked their brains in search of the best exit strategy, would be foolish.
third,: We all know that AYME has bought 140 million plus shares the last couple of months for fairly cheap,.....I'm not saying they shorted this,....I'm just saying a short could be doin the same thing. because AYME showed it could be done without driving the price over .22.
I'm praying for a huge squeeze too,....I'm bluecollar and would love to retire at 35.
But we can't shoot down everything that is determined to be less than Ideal, just cuz we don't like it.
Karmasaur
Or maybe a combination of both,.....or maybe chlorox,...or lysol
I would argue that they were/are supporting the bid less, and ensuring the top bid on huge blocks more. But like I said, if they are/were purchasing for SPNG its awesome,....and if they were buying to cover a short client awesome,...and if they were just eating up the float for a private investor, institution or themselves,....awesome!
I don't believe SPNG cares if their pps is held up or not right now!
SPNG owns the future of SPNG, so the daily fluctuations are not of concern!
Karmasaur
Ray Martinez of AYME ran hedge funds in the past including LIM Asia arbitrage fund.
I think AYME is covering a short client.
I think AYME holds the bid up because its vital for their client that they don't get outbid,....they need the shares and are prolly in the green to the mid twenties.
The number of shares bought by AYME on several days excedes the ammount that SPNG is allowed to repurchase in a trading session.
Do a google for martinez AYME hedge fund, and about a million results will turn up.
All this being said,....
If AYME is buying for spongetech,.....AWESOME!
If AYME is buying up shares for a hedge fund,....AWESOME!
KARMASAUR
Bashers lower O/S to 900 million,....
per bundlesofshares: 900million+ blah blah blah
Karmasaur says, another great basher PR
If you call scottrade, they'll set a limit order where ya want it,.....I got one in for 42k shares yesterday at 25 dollars a share
I called in a GTC sell 42k at $24.00 no problem today with scottrade
They might if they were in the green still and terrified the 10k was coming out, they would bid above everybody!
IMO AYME is covering a large short postion from black friday, at or above the .24 mark.
On several days we have surpassed the 10% limitation on daily buybacks, both average and actual volumes. Including today.
I also believe its entirely possible a merger prospect could be buying up common stock to later be converted to class b shares,(complete with voting power). And in this way speed along nasdaq listing.
Karmasaur
The consolidation trend over the last few days has been remarkably tight,.....especially in light of the late 10k( which I personally suspected, but dreaded anyway due to the basher calls for a late one).
This is the ideal calming before the storm,....price action is but a whisper.
Siri has 4 billion o/s and 23 million have traded today
spng has 722 million o/s and 55 million have traded today
HMMMM I wonder if there is a phantom float here
September 2nd Reuters,....
Y'all prolly seen it already, but it looks pretty positive to me!
i had a hunch,...
spongey opus is kind of abstract
I'm a fingerpicker
if ya have a link to anything you've done it would be cool
I'm on myspace as karmasaur doin some simple stuff with my singer
anyway, i only get three posts a day right now so have a great nite and a speedy recovery.
and what do you play,..and are there other musicians on here
I've noticed that spng gets a lot of musician investors,.....dreamers, i guess
thank you very much opus,..
don't know ya,...but hope ya recover well enuf
do you play music?
scottrade only allows a 4x limit,....
can I place a higher limit by calling it in\
and by the way,...if I drink one more porter tonight, someone is getting f@$#ed
Karmasaur has 42k
Has it occurred to anyone,...
That AYME might be covering a short position for someone,...
If a short somewhere is buying back airshares and cancelling them out,.....It would also help explain the slowly declining volumes we've seen!
Thank you
Karmasaur
I'm in huntington Indiana too,....small world
I'm realizing how big some of the hands are on this one.
We are gonna go higher, but I'm realizing we are gonna have stiff resistance on the way up. So many holders got in so cheaply, major profit taking will occur all the way to four dollars.
Obviously MOASS would suck up most or maybe way more than all of that.
Institutional investment would also put a huge dent in the mass selloffs.
It's gonna happen though, many will sell on the way up, but we will see the dollars. Perhaps not as soon as all would like,.......perhaps sooner.
Karmasaur
I only own about 42k so I think it may take a while
Hello all,
I've been cyberstalking most of you for a while via reading your posts.
Thought I'd take the plunge. I been on the yahoo board for a few months,....and have opted for some variety. Please don't tell the yahoo board I'm cheating on it.
Anyway I'm long spng, and hoping to retire at 35,....three years from now.
thank you
Karmasaur