Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
So when the trader receives the Restricted share for 2 MM, he also has to have the restriction legend removed, is it not ??
Then the 2MM shares needs to be transferred to his name.Once again, he needs an opinion letter.
Once the shares are in his name, then he can deposit it into his account and then he can cover his short sales.
Sha, how does this 'shorting against the box' work.....can you illustrate it with a step by step example?
madeindet...that certainly makes sense as Homeland security is supposed to be organized to tackle NSS which normally is supported by cross border money laundering entities....cowtownjay would know more about this subject matter.
And Penson blossomed like a flower from the Bankruptcy, only under a different avatar called Peak Clearing which has as well as share Penson's address and Office space, telephone numbers,etc in Dallas.......flower of the same cactus plant!
Get a new job so that you can write off your old job's expenses!yeah, talk to your accountant.
Was SPNG's share structure abused as indicated in the quotes below..........
was Penson involved in such practices....
It depends on whether or not options were illegally used, such as to effect "Reset Transactions," as seen in Sears Holdings.
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1365171488374#.UfaSzNxtGAQ
Speaking of Sears Holdings, I see a new Form 4 was filed by Eddie Lampert.
http://www.sec.gov/Archives/edgar/data/860585/000118143113038222/xslF345X03/rrd384490.xml
The CBOE and C2 exchanges were charged by the SEC with regulatory failures as the result of the optionsXpress case.
http://www.sec.gov/News/PressRelease/Detail/PressRelease/1365171575348#.UfaVOdxtGAR
The charge reads, in part, as follows.
"Washington, D.C., June 11, 2013 ? The Securities and Exchange Commission today charged the Chicago Board Options Exchange (CBOE) and an affiliate for various systemic breakdowns in their regulatory and compliance functions as a self-regulatory organization, including a failure to enforce or even fully comprehend rules to prevent abusive short selling."
This could be relevant to SpongeTech because the SEC approved an emergency rule change, designed to allow Apex Clearing a Holding Permit, which was submitted by CBOE and C2.
http://www.sec.gov/rules/sro/edgx/2012/34-67136.pdf
The submission reads, in part, as follows.
"The Exchange is proposing to temporarily suspend the requirements of EDGX Rule 2.6 and related EDGX Rules concerning the approval of new Members in order to admit Apex Clearing Corporation (?Apex Clearing?), f/k/a Ridge Clearing and Outsourcing Solutions, Inc. (?Ridge?), as a Member of EDGX, subject to Apex Clearing complying with the Exchange?s Membership qualification rules within 30 calendar days of the effective date of this filing. The Exchange is also proposing to accept Apex Clearing?s assumption of all of the existing clearing agreements and arrangements currently in effect between Penson Financial Services, Inc. (?PFSI?) and other EDGX Members by execution of a global agreement thereto."
I can't really give this discussion too much more time right now. You'll have to read the case information, and do more research, to get all the information required to understand all the details.
But, from what I see, we have the SEC approving an emergency rule change, to accommodate the CBOE and C2 options exchanges, to provide a permit for Apex, which bought out Penson, who was a major SpongeTech market participant. And then we see the SEC file charges against the CBOE and C2 options exchanges for "... an overall inability to enforce Reg. SHO with an ineffective surveillance program that failed to detect wrongdoing despite numerous red flags that its members were engaged in abusive short selling."
Dave, how do they do this sham reset of Reg Sho transaction...can you give an example?
So they can quickly resume the usual stuff....you know what...it is cyclical....keep them coming $6MM at a time!
EXPLAIN why your ENFORCEMENT AGENCIES settle for RIDICULOUSLY "symbolic" amounts! (only one TENTH of ONE PERCENT of the actual FRAUD they expose!)
The stations are not the money makers....it is the syndicated network programming that is thriving.....
All of your statements converge to NULL as SM wore a wire for the DOJ.....the bargain was made at that point...come on SM's lawyer is not dim wit.
I rest my case!
Not at all....you are not reading the court documents properly...anyways, old management is out, new management will be in and the company will flourish.
Why?? 'Cause the skies are blue and you cannot go higher than that!
Cowtown, I wonder what those material facts are!!??
It should be noted that Halperin was involved in a similar activity for a company called Green (I believe) and was fired. I don't know what punitive action was taken against Halperin in that instance.
The court does not think that SPNG was/is a scam!
watch SPNGQ///next 30 days
It has everything to do with SPNG...the crooks are group B.
Fla....I don't think the formula was sold to the buyer. Plus I don't think they have exclusive licensing........
pan...it is not a bad idea, in fact it is an EXCELLENT idea to get Certificates.
KLee, the clean up will be done soon....if I remember correctly, the trustee filed a motion to close out all creditor claims and with this last settlement, I believe, the shell will be claim free in which case, the shell can be bought out. The revenue potential is there as the products have been well accepted by the Market and new management can sign deals with Viacom, etc...after all SPNG's products are the most authentic products on the market. I believe, if the business is resurrected, the revenues could reach $1Billion in the next 3 years. And if the shell is bought out debt free, guess what will happen to all the worms.......
He is just making sure that the Onions are taken care of!
That's FRAUD on a grand scale./e/
C'mon, the vultures and the hyenas need to party on the dead carcass....let them have a ball!
Hedge funds bribe people...it is common knowledge and there are several instances of that.
the shorts made up Dave Bomart and framed Spongetech management...way to go......looks hedgies will do anything to accomplish their objectives.
JACK SCHWARTZBERG at CREOH INDUSTRIES SPEAKS THE TRUTH, $20Million in revenues for SPONGEBOB sponges alone.
There are 5 big fishes!
SM wore a wire for the DOJ. He'll go Scott free. When his plea gets unsealed, there will be nothing against SM!
Watch the space!
You said............
Moskowitz will be sentenced to at least 20 years in jail in the DOJ case.
Yes, that is correct, only shareholders of SPNG seem interested as the business model is profitable and more importantly the products are well accepted in the Market. When the business is allowed to flourish, value will be generated, plus, a socially and environmentally sustainable company generating jobs and minimizing plastic waste will emerge to the benefit of everyone Worldwide.
puppy, the names are in investigation stage and they cannot be revealed. U can take that to the bank!
It does exist, after 'A' comes 'B'!
That still leaves a lot more to be said about the Group B stinking scums!
That's right puppy, mud never sticks when truth wants to shine!
The campaign to throw mud on SM has begun as he is the only one yet to be sentenced but the BULLS are going to stampede the street! Keep in mind SM wore a wire for the DOJ...so will he be sentenced...why is his plea sealed???
Why have so many people on SPNG case leave...have they found the answer? Does SM have the answer?
O'ye, I forgot, when surfkast leaves as moderator, then it is time to go home!
Nothing will happen till November...that's when Alrosa IPOs(14%) but so far the order has been to do it in Russia....goldmansachs are the underwriters. Even otherwise Nov is the month as the trial gets completed in Oct.
So the admin court did not find it worthwhile to hire a prosecutor.
You say, the court finds............
it was only an appeal of a tax ruling and not a criminal proceeding.
Bottom line: Steven Moskowitz is a proven perjurer.