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What trash,
Several Greenwich Roundup Readers Have Passed On Tips About SpongeTech's Background
TPHM = SCAM, read this. Whats going on now is nothing more than manipulation by the insiders and broker dealers to try to create hype for the stock. You watch, short time from now we will be well below these prices. This company is a total scam
From the companies 10q I First I want to point out that Thomas Pharmaceuticals used to be owned by Ivoice. So why does Thomas borrow so much money from Ivoice you ask? Well its simple, IVOICE converts the debt issued to it by Thomas, into common stock, and then dumps it on the market. This is nothing more than a scam, avoid this like the plague. These are just some of the many red flags of fraud and deception by the company.
From 10Q,
iVoice may, at its discretion, convert the outstanding principal and accrued interest, in whole or in part, into a number of shares of Thomas Pharmaceuticals Class A Common Stock at the price per share equal to eighty percent (80%) of the lowest closing bid price of the Common Stock for the five (5) trading days immediately preceding the conversion date.
From 10Q, history of debt issued to ivoice, from Thomas.
On January 6, 2006 the Company issued to iVoice a $360,000 secured convertible debenture due on January 1, 2013 bearing interest of 10%, compounded quarterly. During the nine months ended September 30, 2009, the Company issued 54,000,000 shares of Class A common stock as repayment of principal of $4,320. As of September 30, 2009 the remaining principal balance of the convertible debenture was $343,312 plus $158,774 of accrued interest.
On January 6, 2006 the Company issued to iVoice a $100,000 administrative service convertible debenture due on January 1, 2013 bearing interest of 10%, compounded quarterly. This debenture is issued in lieu of payments on the Administrative Services Agreement of the same date. As of September 30, 2009 the remaining principal balance of the convertible debenture was $100,000 plus $44,594 of accrued interest.
On April 27, 2006 the Company issued to iVoice a $225,000 secured convertible debenture due on January 1, 2013 bearing interest of 10%, compounded quarterly. As of September 30, 2009 the remaining principal balance of the convertible debenture was $225,000 plus $90,725 of accrued interest.
On February 7, 2007, the Company issued to iVoice a $25,000 secured convertible debenture due on February 6, 2014 bearing interest of 10%, compounded quarterly. As of September 30, 2009 the remaining principal balance of the convertible debenture was $25,000 plus $7,452 of accrued interest.
http://www.sec.gov/Archives/edgar/data/1391428/000118518509001213/thomaspharma10q093009.htm
SCAM ALERT, TPHM PLEASE READ,
What is going on here is nothing more than a scam. First I want to point out that Thomas Pharmaceuticals used to be owned by Ivoice. So why does Thomas borrow so much money from Ivoice you ask? Well its simple, IVOICE converts the debt issued to it by Thomas, into common stock, and then dumps it on the market. This is nothing more than a scam, avoid this like the plague. These are just some of the many red flags of fraud and deception by the company.
From 10Q,
iVoice may, at its discretion, convert the outstanding principal and accrued interest, in whole or in part, into a number of shares of Thomas Pharmaceuticals Class A Common Stock at the price per share equal to eighty percent (80%) of the lowest closing bid price of the Common Stock for the five (5) trading days immediately preceding the conversion date.
From 10Q, history of debt issued to ivoice, from Thomas.
On January 6, 2006 the Company issued to iVoice a $360,000 secured convertible debenture due on January 1, 2013 bearing interest of 10%, compounded quarterly. During the nine months ended September 30, 2009, the Company issued 54,000,000 shares of Class A common stock as repayment of principal of $4,320. As of September 30, 2009 the remaining principal balance of the convertible debenture was $343,312 plus $158,774 of accrued interest.
On January 6, 2006 the Company issued to iVoice a $100,000 administrative service convertible debenture due on January 1, 2013 bearing interest of 10%, compounded quarterly. This debenture is issued in lieu of payments on the Administrative Services Agreement of the same date. As of September 30, 2009 the remaining principal balance of the convertible debenture was $100,000 plus $44,594 of accrued interest.
On April 27, 2006 the Company issued to iVoice a $225,000 secured convertible debenture due on January 1, 2013 bearing interest of 10%, compounded quarterly. As of September 30, 2009 the remaining principal balance of the convertible debenture was $225,000 plus $90,725 of accrued interest.
On February 7, 2007, the Company issued to iVoice a $25,000 secured convertible debenture due on February 6, 2014 bearing interest of 10%, compounded quarterly. As of September 30, 2009 the remaining principal balance of the convertible debenture was $25,000 plus $7,452 of accrued interest.
http://www.sec.gov/Archives/edgar/data/1391428/000118518509001213/thomaspharma10q093009.htm
Those figures are so far skewed out of the realm of possibility that they are utterly meaningless.
I never would have fathomed that being so underwater would provoke people to lie!
Sorry, Its mathematics.
Fine. ATTENTION: SCAM ALERT!!! Look,
Take a look at this,
On September 10, 2009, the Company entered into a Debt Purchase Agreement with Mazuma Holding Corp. ("Mazuma").
Do some research and you'll find that Mazuma claims to be owned by Curt Kramer. This is a fake name, these guys even resorted to making hundreds of webpages with his name. Google the name, you'll see. He likes his children and is a good father, ect.... No real information on him what so ever, he "wakes at 7am and works very hard.", ect
This is nothing more than a penny stock fraud, heres a list of other companies this "guy" is involved with. They are all scams.
http://livermore.brand.edgar-online.com/PeopleFilingResults.aspx?PersonID=3499688&PersonName=CURT+KRAMER
http://www.sec.gov/cgi-bin/browse-edgar?CIK=0001371559&action=getcompany
The funny thing deer22, is that this now comes up in google searchs.
Good day
I disagree, but why anyone would buy a stock with everything you mentioned doesn't make sense....hmmmm....
LONG AND STRONG. FAIR VALUE=$6. Huge naked short postition!!!
MINGY
I was a shareholder with a fairly decent position ( 1,836,000 shares @ .10)
How many PR's have turned out to be complete BS?
50 million in revenues which no one can prove. Oversea distributors that no one can find. The short position which never triggered a MOASS. The yo-yo play with the authorized share count. You know the list goes on....
Window dressing
Metter and Moscowitz's histories really don't paint a pretty picture
the lawsuits are piling up,
money will be used for the lawyers
Virtual Drew, its very simple.
I count 32,000 US locations on this list where spongetech is carried, plus the smaller retailers we don't know about. That would be less than 3 sponges per day on average, per month, to equal 25M a month. Given the walmart by me sold out of spongebobs the first day they got them, I think we are good.
Now we know spongetech does worldwide sales too, south america, Europe, and asia….Ah we get the the picture.
LOL!!!!! THANKS DREW!!!!!!
Thanks Mango, or whoever was the one that put this together, i forget.
Walgreens……………7000
CVS…………………...6900
ACE hardware…….....4600
Walmart....................4227
Phillips Pet Supply…..3500
Kroger ………………..2475
Pet Smart…………….1145
Publix…………………1008
Atlantic & Pacific Tea Company....447
Shopright………….......185
Jewel-Osco……..........185
Sears Canada……......185
Bjs ………………….....180
Hannafard...................170
Xtra mart……………...144
Price Chopper............114
Petro Gas Centers...…85
Dominicks……….....….73
Walbauems..................63
Costco…………….....….2
Europe……...….....19367
Dicon………..….....10000
SIX DOLLARS = FAIR VALUE!!!, Math....
Quote:
--------------------------------------------------------------------------------
Excellent pervious post BTW Mingy, the Naked Shorts very much are the reason we are under attack on every front.
--------------------------------------------------------------------------------
25 Million in sales a month
x
12 months
x
.20 profit margin
x
20 PE
= 1.2 billion fair value market cap.
Divided by 206 million outstanding shares (see link below)
= Fair Value $6. Risk 3 cents, reward $6 dollars if what the longs all along have been saying, massive naked shorting in spongetch.
No wonder some smart money is looking for $18 on a short squeeze.
206M outstanding share case breakdown.
http://spngdd.com/2010/01/19/estimate-outstanding-shares-float/
Thank you, thank you very much.
MINGY
SIX DOLLARS = FAIR VALUE!!!, Math....
Excellent pervious post BTW Mingy, the Naked Shorts very much are the reason we are under attack on every front.
Yeah, the naked short position, what was the percentage increase in the total net position, from the week prior?
I’m not talking about legal shorts, I’m talking about illegal naked shorts that do not show up in an official tally. You know, washed trades, using one of the 4 European exchanges spongetech was listed on by the naked shorts, and the market making exemption are the ways the over 1 Billion naked shorts are hidden.
The naked shorting hedge funds have, and will continue to naked short this stock until management files the 10k and blows them apart. They are just buying time by not covering their shorts and taking the loss. The hedge funds meanwhile are paying themselves out bonuses, while they ignore this ticking time bomb, actually adding to the liability.
Remember Tattletell, fair value for this stock is over $3, the current price per share is reflecting the naked short counterfeit shares.
And yes fair value based on Freds Math of outstanding shares of 200 million coupled with 25 Million a month in sales, give us a fair value of well over $3, and that’s on the cheap side. 200 million shares X $3=$600 M market cap. Also, remember there are a couple big boys, that are looking for $18 on the short squeeze.
Freds 200M calculations.
http://spngdd.com/2010/01/19/estimate-outstanding-shares-float/
This stock is not going to be revoked, its a rumor naked shorts are spreading around to create fear.
Good day,
MINGY
Yeah, the naked short position, what was the percentage increase in the total net position, from the week prior?
I’m not talking about legal shorts, I’m talking about illegal naked shorts that do not show up in an official tally. You know, washed trades, using one of the 4 European exchanges spongetech was listed on by the naked shorts, and the market making exemption are the ways the over 1 Billion naked shorts are hidden.
The naked shorting hedge funds have, and will continue to naked short this stock until management files the 10k and blows them apart. They are just buying time by not covering their shorts and taking the loss. The hedge funds meanwhile are paying themselves out bonuses, while they ignore this ticking time bomb, actually adding to the liability.
Remember Tattletell, fair value for this stock is over $3, the current price per share is reflecting the naked short counterfeit shares.
And yes fair value based on Freds Math of outstanding shares of 200 million coupled with 25 Million a month in sales, give us a fair value of well over $3, and that’s on the cheap side. 200 million shares X $3=$600 M market cap. Also, remember there are a couple big boys, that are looking for $18 on the short squeeze.
Freds 200M calculations.
http://spngdd.com/2010/01/19/estimate-outstanding-shares-float/
This stock is not going to be revoked, its a rumor naked shorts are spreading around to create fear.
Good day,
MINGY
Although the article purports to cite "insiders" as the source for these inflammatory allegations,
Call your boys off my stock or I’m going to blow the lid off not only this one, but all the others. Think I don’t know?
Just heard that the same person contacting the SEC and DOJ back in august, sending them New York Post articles as “FACT”, is doing the same exact thing with Teri Buhl’s articles. Trying to incite confusion and fear on the part of the regulatory agencies.
Lets hope it works out better for us this time. You can bet, the naked short hedge funds are working very very hard right now.
More naked shorting. The shorts are just delaying.
Yeah, too funny.
But its nothing more than an uplist, instead of OTCBB, its NAS. They don't need an underwriter do they if they are just uplisting shares, not issuing new shares.
I can’t even believe this scam is even trading. These people should be in jail!
Look what they do here. They set up these shell companies, the companies issue these shell companies convertible debt, which they get at 50% the price of the stock the day they decide to convert. They convert the debt to stock, and dump it on the market. WOW.
What a shame, PM me if you lost money on this thing, these people should be in jail.
http://biz.yahoo.com/e/091002/cmgr.ob8-k.html
On September 10, 2009, the Company entered into a Debt Purchase Agreement with Mazuma Holding Corp. ("Mazuma"). Pursuant to the Debt Purchase Agreement, the Company issued to Mazuma a $45,000 Convertible Promissory Note with the following terms: (i) maturity date of September 9, 2010, (ii) interest at a rate of 15% per annum, and (iii) convertible into shares of the Company's common stock at a price equal to 50% of the average closing bid price for the Company's common stock for the five trading days prior to conversion. There is no material relationship between the Company or its affiliates and any of the parties, other than with respect to the Debt Purchase Agreement.
I apologize for coming off the way I did. I'm worked up, and have just had it as far as the attacks on spongetech. I guess saying get involved was poor way of phrasing it. My thoughts are, that if enough of us shareholders put our heads together, there may be a way to expose whats going on, and perhaps shed some light on the backroom dealings I not doubt think are going on. For the benefit of the company.
Mingy.
Why not Uplist right to Nasdaq?
You know what I was just thinking. Why wouldn’t MGMT be trying to get on the nasdaq, rather than the OTCBB? Think about it. Before when we were otcbb, all we were missing was share price minimum, correct?
Now if we file, and were good to go on OTCBB, why wouldn’t they just try uplisting to the nasdaq right off the bat, skip the OTCBB??? Think about it. MGMT comes out and shows OS at between 200 million and 350 million, shows phantom air shares at over 1.5 billion, and shows even greater sales than 6 months ago. How could you not make the case that we would be trading at the nasdaq’s minimum bid price absent the INSANE amount of counterfeit shares created by the naked shorts and market makers????
Really makes sense to me.
Mingy
I 100% percent disagree with your statement about my research. By exposing the shorts, and their tools they use to manipulate the system in their quest to destroy Spongetech, I bring attention to what they are doing. I hope to bring enough eyes to the situation, where they’re ability to operate behind a cloak is impaired. I also wish to invite more investigation, and hopefully then, when enough is exposed, proper charges can be filed against these criminals.
Back room dealings between the naked shorts, and their friends in the regulatory system, are put at serious risk when people are aware, and watching.
I’m tired of the attitude there is nothing we can do to improve the situation here. You think we’d be in this situation if it wasn’t for the backroom dealings? Absolutely not. So are we really supposed to sit back and let it continue to happen?
I’m not. Get involved.
Yeah right, covered over a billion naked shorts without the price rising. Come on. These guys are going down in flames, right now they are naked shorting more, looking to pull some strings and get us revoked.
The court system is stacked against spongetch. I hope to expose enough connections where the back room dealing comes to and perhaps even investigated.
The more eyes watching, the better for us longs.
Anyone who has anything they can share, please get in contact with me.
You suggest ATM cards?
I’m a firm believer that we should throw it all out there, expose as many relationships as possible. Its a lot harder for the Naked Shorting Hedge funds in Spongetech to make back door deals, if more people are aware.
As far as waiting till you had the whole puzzle fit together, why not release what you have and see who and what is smoked out. Perhaps with as many shareholders as there are in this company, just one shareholder could have that last peaice of the puzzle your looking for, but he doesn’t know it.
I would be very grateful if you shared any research findings you had with me. I have a few leads I’m following and got some more interesting aspects, but it sounds like you may be a couple steps ahead of me.
Lets get this all out in the open, lets shine some light and attention on those working behind the curtain trying to destroy this company.
Thank you. Perhaps we call the New York Post and ask them for comment? We need to make sure there are no backdoor dealings in regards to spongetech.
Indeed. I wonder if the New York Post is going to have a comment for us Spongetech Shareholders. I think we are entitled to disclosure of any backdoor dealings going on.
Well I wish you would have shared back then, I thought this was pretty big news. What else do you know about that group?
I posted this before, but I guess you knew already.
So we all know our good friend Kaja Whitehouse, over at the new york post? The one who constantly bashes SPONGETECH? She even had her old Pal Teri Buhl get in on the action last week, remember, the clown that posted pictures of Metters house, front and back???
Okay,
Kaja often interviews Jim Chanos, a legendary short seller so no doubt about it they talk. Is she nothing more than Chanos and Co’s pawn??? You can read about a stock, Fairfax , in which his fund was short, and you’ll see similar tactics used to destroy the share price. (see my roddy boyd and david patch exposé’s posted last night).
Okay, now into the juicy stuff.
Karynn Whitehouse is Kaja’s sister. Karynn used to work for a law firm ran by Herbert A. Whitehouse, Called “Whitehouse Law Firm”. I googled the address, and found that it wasn’t an office building, but rather a house, even has a pool in the backyard. Also interesting is that Kaja’s brother, Cameron “Kamin” Dean Whitehouse, had that listed as his address at one point, as did Karynn, Kaja’s sister. IMO, they all lived there, and “Whitehouse Law Firm” was ran out of the house.
http://www.spoke.com/info/c60BSww/WhitehouseLawFirm
Now digging a little deeper, you find that the law firm just kind of disappears, website gone, not much information at all about it. I then verified through some of Herbs articles, that Herb Whitehouse is the same person as Herbert A. Whitehouse. Same education, interchanging the Herb with Herbert over the years.
Now it starts to get good.
According to both these links, both Karynn, Kaja’s sister, and Herb, moved to Florida , Orlando .
http://www.peekyou.com/karynn_whitehouse/238895593
http://www.peekyou.com/herbert_whitehouse/75484951
Notice they moved to Orlando , and where according to this website, Herb works. Karynn worked with Herb in Jersey , then moved to Orlando , it wouldn’t surprise me if she was working at the same place as Herb.
http://bogdahnconsulting.com/w_Herb_Whitehous.cfm
Wonder what this firm does? A lot of young guys. CFA’s, CPA’s, the type of guys that would comb through SEC filings for a large hedge fund if they wanted. Could a hedge fund hire this group to bash stocks on chat boards? Start rumors? What exactly does a “Chief Fiduciary Officer” do? All questions I’d like to know the answers too.
Now the big question, who is Herb Whitehouse??? Is it Kaja’s Papa??? Her Diddy???
Well I’m going to have to let you decide. We know that Whitehouse Law Firm was registered to the same location where two of Kaja’s siblings lived. We know they have the same last name. But this was the real kicker for me, so I’ll let you take a look..
Now, I suggest you go to this link quick, as I’m sure it will be removed fast. If you care to save the pictures for future reference, that is up to you. Take notice to the man in the green shirt, above his right eye. Then go back and look at his bio. Similar huh? Then look through the album and decide if that is something your father would attend, a baby shower for his grandkids.
http://picasaweb.google.com/kaja.whitehouse/AriannaKaminSBabyShower#5237838221564100354
http://picasaweb.google.com/kaja.whitehouse/AriannaKaminSBabyShower#5237838193683917266
Album.
http://picasaweb.google.com/kaja.whitehouse/AriannaKaminSBabyShower#
Now, I’m not accusing anyone of any wrong doing, but I do think it legally should be disclosed, if this Bogdahn group is doing any research in regards to spongetech. As surely there is some conflict of interest if Kaja Whitehouse is writing for the New York Post, and the group her father works for has dealings with the naked shorting hedge funds. I do not know if this is the case, however I have found Kaja’s peculiar obsession with trashing a 10 million dollar market cap company awfully suspicious. I think they call that journalism ethics.
GO SPONGETECH
!!!!!! KAAABOOOMMMMMM !!!!!!!!!!
So we all know our good friend Kaja Whitehouse, over at the new york post? The one who constantly bashes SPONGETECH? She even had her old Pal Teri Buhl get in on the action last week, remember, the clown that posted pictures of Metters house, front and back???
Okay,
Kaja often interviews Jim Chanos, a legendary short seller so no doubt about it they talk. Is she nothing more than Chanos and Co’s pawn??? You can read about a stock, Fairfax , in which his fund was short, and you’ll see similar tactics used to destroy the share price. (see my roddy boyd and david patch exposé’s posted last night).
Okay, now into the juicy stuff.
Karynn Whitehouse is Kaja’s sister. Karynn used to work for a law firm ran by Herbert A. Whitehouse, Called “Whitehouse Law Firm”. I googled the address, and found that it wasn’t an office building, but rather a house, even has a pool in the backyard. Also interesting is that Kaja’s brother, Cameron “Kamin” Dean Whitehouse, had that listed as his address at one point, as did Karynn, Kaja’s sister. IMO, they all lived there, and “Whitehouse Law Firm” was ran out of the house.
http://www.spoke.com/info/c60BSww/WhitehouseLawFirm
Now digging a little deeper, you find that the law firm just kind of disappears, website gone, not much information at all about it. I then verified through some of Herbs articles, that Herb Whitehouse is the same person as Herbert A. Whitehouse. Same education, interchanging the Herb with Herbert over the years.
Now it starts to get good.
According to both these links, both Karynn, Kaja’s sister, and Herb, moved to Florida , Orlando .
http://www.peekyou.com/karynn_whitehouse/238895593
http://www.peekyou.com/herbert_whitehouse/75484951
Notice they moved to Orlando , and where according to this website, Herb works. Karynn worked with Herb in Jersey , then moved to Orlando , it wouldn’t surprise me if she was working at the same place as Herb.
http://bogdahnconsulting.com/w_Herb_Whitehous.cfm
Wonder what this firm does? A lot of young guys. CFA’s, CPA’s, the type of guys that would comb through SEC filings for a large hedge fund if they wanted. Could a hedge fund hire this group to bash stocks on chat boards? Start rumors? What exactly does a “Chief Fiduciary Officer” do? All questions I’d like to know the answers too.
Now the big question, who is Herb Whitehouse??? Is it Kaja’s Papa??? Her Diddy???
Well I’m going to have to let you decide. We know that Whitehouse Law Firm was registered to the same location where two of Kaja’s siblings lived. We know they have the same last name. But this was the real kicker for me, so I’ll let you take a look..
Now, I suggest you go to this link quick, as I’m sure it will be removed fast. If you care to save the pictures for future reference, that is up to you. Take notice to the man in the green shirt, above his right eye. Then go back and look at his bio. Similar huh? Then look through the album and decide if that is something your father would attend, a baby shower for his grandkids.
http://picasaweb.google.com/kaja.whitehouse/AriannaKaminSBabyShower#5237838221564100354
http://picasaweb.google.com/kaja.whitehouse/AriannaKaminSBabyShower#5237838193683917266
Album.
http://picasaweb.google.com/kaja.whitehouse/AriannaKaminSBabyShower#
Now, I’m not accusing anyone of any wrong doing, but I do think it legally should be disclosed, if this Bogdahn group is doing any research in regards to spongetech. As surely there is some conflict of interest if Kaja Whitehouse is writing for the New York Post, and the group her father works for has dealings with the naked shorting hedge funds. I do not know if this is the case, however I have found Kaja’s peculiar obsession with trashing a 10 million dollar market cap company awfully suspicious. I think they call that journalism ethics.
GO SPONGETECH
Bogdahn Group. Anyone know anything about this group, and its possible connection to the naked shorts in spongetech???
Does this forever end the question of patents?
From another board,
jefftxtrade
The latest packaging for Spongebob at Walmart shows the patent number that applies. Ask a patent attorney how important it is to identify a patent number on your products. Previous packaging didn't show it, so I come to the conclusion that they're learning and improving. Tick, tock! GLTA
http://s996.photobucket.com/albums/af84/jefftxtrade/?action=view¤t=IMG_2130.jpg
Giving away SPNG football sponge at superbowl? Boy would that make sense!!! I never really understood the football sponge, but if it was a plan from the start, boy would that be amazing PR.
http://www.spongetechs.com/The-Smarter-Football-Sponge-p/490000w.htm
perhaps you can explain why they were at MSG last night, behind both nets?
Horrendous. Look at spongetech sales numbers, 25M a month. To compare the two is just ludicrous.
Well its clear why they are keeping lips sealed after the walmart news broke, because we are going no where on the greys. The naked shorting will continue until they file the 10k, prove naked shorting, and force the shorts to cover. The naked short hedge funds are just adding to their toxic blow up position, buying time, working behind the scenes trying to come up with something to destroy the company. Hiring PI’s, trying to cut deals with corrupt government officials, ect. Meanwhile 09 bonuses get paid out.
Actually funny. Just wrote myself a note, when this thing finally does blow up, I’m going to do my best to expose the fact that these hedge funds concealed the ticking time bomb position, meanwhile no doubt giving themselves some fat bonuses. The best part is, they probably settled their books showing the naked short spongetech position at a big winner!!!! If that is the case, people will go to jail.
I mean come on, walmart, and closing steady on the week. What a joke. These naked shorting criminals are really something.
Interesting, notice its behind both nets, two placements. You really think SPNG would upgrade their deal with MSG after what they did? I doubt it. Those two ad's in primo spots makes me wonder if MSG is going out of their way to try and make good with SPNG.
WOW. SPONGETECH is in the top three retailers, Walmart, Kroger, and Costco.
1st. Walmart
2nd. Kroger
3rd. Costco
6th Walgreens
7th CVS
9th Sears
15th Publix
18th Amazon.
5th spot is Target, and someone had emailed me saying their friend worked at Target and thought they saw something about spongetech coming soon. That person has yet to confirm with his friend and get back to me.
I imagine #4, Home Depot is not far behind. As soon as spongetech comes out with some sort of sponge for cleaning floors, Home Depot will be all over it. Also Lowes.
What is so wild, is what this companys market cap is.
At 3 cents, assuming OS is still 722m, thats just over 20 million dollars.
Use 500M OS as was managments plan by the 10k in aug, and thats a market cap of 15M
Now factor in the Sept 09 buybacks along with RME's filings that they only have 66M shares, and per outstanding work by fred, who comes up with 200 million shares outstanding, we now trade at a market cap of SIX MILLION DOLLARS!!!!
Anyone else know of a company worth 6 Million dollars, no debt, great products, and in 8 of the top 25 US retailers???? Being in the top 3?
Truly amazing the SEC has allowed the naked shorts get away with this for so long. Imagine if they had succeeded? In my opinion its a national security issue. Our capital markets are in danger because of naked short sellers. The SEC looks the other way, and they are literally allowed to steal billions and drive hundreds of start up companies into the ground. Why would a company list on the US exchange if the SEC doesn’t enforce naked shorting? Why not list in another country? With online brokers offering access to worldwide capital markets, is it really a benefit to be listed here?
Freds outstanding share count,
http://spngdd.com/2010/01/19/estimate-outstanding-shares-float/
Oh the possibilities now! link
www.stores.org/pdf/09Top100chart.pdf
Wait, your long?
Talked to a friend who knows someone who works for the blackhawks. Found out that ad space on the hockey boards is a month by month deal. So SPNG i'm sure opted out, just like they did with the yankees. Perhaps they are just going to give shareholders a huge divy with all that saved money, and blow the shorts to the moon. The Press that SPNG would get from causing the largest naked short squeeze in history IMO, would be fair greater than ad's at any sporting event.
How a little sponge company took down 5 of the largest hedge funds who were engaging in illegal naked short selling.
kicked out of ball parks and stadiums
In total agreement. The sales numbers we were doing, 25M, were with 2 primary products, the pet sponge and the car sponge. Can you imagine what sales are going to look like when you put the children’s sponges into the equation? Then Walmart sales. Then the kitchen sponge that doesn’t collect bacteria? I truly believe the kitchen sponge is going to be the standard in kitchen sponges. The boat sponge, ect. And who knows what else these genius’s are brewing up. If anyone hasn’t watched Metters noble conference, I highly suggest watching it. He says their best products not unveiled yet. Can you imagine a household sponge with a brand name cleaner like Clorox, or Lysol? CHAA CHINGGGGG.
I'm keeping some for crazy levels just so I can say I was part of it if it indeed happens. I suggest to anyone worried about selling to early, to sell in %'s of your total postion. For example, sell 5% every 50 cents, or whatever you want.