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Wow Spino..."a company to be proud of". Really??? Chock another one up there for management's poor handling of another fiasco. How many fiascos is it going to take to get you to understand they still don't have their sh+t together. Does a $.04-.05 pps need to stare you in the face to see the light?
I'm so fed up I can't stand it except for the fact I got out over a week ago at .11 and .13. Made a little profit, but nothing compared as to when I should have taken some off at .20....shame on me, but I was a long and a believer. Not any more now I'm on the sidelines watching the offense continue to shoot itself in the foot. It's all pretty entertaining from the fiasco side now that I'm out. But I'm certainly not entertained at all for those that continue to watch their long investment shrink and shrink. I don't wish that on anyone who was like me....a misguided long term investor. GLTY and all that continue to ride this down....that all you can ask for at this stage in the game...some luck. The strategy is out the window for now. and don't forget the looming R/S. I never seen these last 4 weeks play out so stupidly. Gosh they are dumb.
Hey there F4B,
Thanks for the insight. Enjoying all the chatter and it's just going to get louder in the coming hours/days.
The question I struggle with internally is what the company's management is thinking the lesser of the evils are now...going through with the R/S or cancellinjg it. Going througth with it means we all take the short term lumps that come with it. Cancelling it to try to build the pps as before but now with a R/S always then looming in the back of everyones mind?..is defeating. For me, it's the former, they have to take a shot at the uplist and do it now with the financial moment they have accumulated the last 6 months. The latter hasn't worked in the short term anyway. Again, MM was emphatic that they need to get off the BB. Go back to the conference video and see the look of disgust when he comments on getting off it.
Thanks Wadirum,
The question I struggle with internally is what the company's management is thinking the lesser of the evils are now...going through with the R/S or cancellinjg it. Going througth with it means we all take the short term lumps that come with it. Cancelling it to try to build the pps as before but now with a R/S always then looming in the back of everyones mind?..is defeating For me, it's the former, they have to take a shot at the uplist and do it now with the financial moment they have accumulated the last 6 months. The latter hasn't worked in the short term anyway. Again, MM was emphatic that they need to get off the BB. Go back to the conference video and see the look of disgust when he comments on getting off it.
The unique wrench thrown into this R/S is the fact everyone knows it's coming and the pps was hit already the day of the announcement...do you really think it will get hit again?
Think about it....
PR announcing R/S 2 weeks ago and the stock took a hit...big hit. Now showing some support at the .08-.12 range which means $8-12 post split...not great, but not bad and it's in the $5+ mark which is key. However, the kicker being you believe the negative aspect of an R/S is now baked into the stock price which IMO it is...some additional fallout may be expected, but if you believe in a short position, mainly NSS, then the cusip change may counter it in a positive way.
Plus we get the "audited" and "SEC approved" financials soon afterward one would expect this data to give the stock price a boost and a higher support level...all supporting an uplist.
Did you see MM's face and here his short but direct comments at the conference when he mentioned getting off the OTCBB?
Tell me, anybody, what would be the positive aspect to cancel it?
Holy Cow, you must be new here. The R/S is their only way, albeit only short term way, to get uplisted. This then makes them qualified since they have everything else to get there. Once up-listed, the benefit comes from having big money come into play if the PRs on their financial growth are real and accurate which I/most believe they are.
The R/S will happen IMO. So be prepared for it and make investment decisions on it happening.
Well your in the wrong camp then. The R/S will happen because they need the higher share price to eventually make to the NASDAQ. The damage is done, so why now and try and reverse it and fall back into another hole for uplisting and again shake investor confidence with going against their word...this time their written word.
Regardless, the camps we should be talking about is whether to hold, buy or sell prior to or after Tuesday.
Good for you, I hope it works our for everyone.
I took my money elsewhere for the time being and I'm way up....Sprint...S&P gave it a buy rating on Friday. I plan to continue to play the sidelines on SPNG until the dust settles. Made money on SPNG because I got in back in May...one of those faithful longs that had enough recently with all the shinanagans.
I'm not surprised you kept my email...touche and again GLTY and all. It's certainly fun too watch and even funner to play....sometimes.
TAZ
For me it's not a question about them lying becasue i really don't believe they are. It's a question on how they try and instill share holder value. They stink at it either on purpose (want to mislead because of some underlying reason, all sorts of conspiracy theories on this board), or they are that darn stupid financially. I'm not sure which tips the scale at this point in time. All I do know is that they are currently blowing it with the investment community.
Ouch, I would have waited if it was me. GLTY.
Sitting on the sidelines for now.
I'm going to wait until after the R/S...wait, let me refrain that...I'm going to wait until Tuesday to figure out what I'm going to do.
Some people believe the R/S won't happen which IMO is pie in the sky and there's been a lot of that going around, but what else can the human spirit hold on to when people are watching their money get eaten away daily buy miscues and ambiguity. I had enough and got out on Monday after being a faithful long...even held out on June 12th.
Lars Siler's post is the telling story for most of us now. I suggest you read it and take heed.
Now my take....
If you don't feel srewed by all this then you either are out and made a bundle, or a basher/short waiting for your time to get back in. There was no clarity in their recent manuevers and if they were truly serious about becoming an up and standing NASDAQ company and indeed " create share holder value", they would have had a phone conference informing their investors of why they did what they did shortly after. The R/S and the FUGU investment lacks clarity period. I can give them the benefit of the doubt on the 10K, but again, how they played out with no info and for us to get some dumb justification from Alfie in wonderspongeland was rediculous....and people thanked him. Folks, if he's invested as much as we presume he is, his potential gain is taking a killing, so he has his own investment concerns and aggenda.
The only hidden value to all this is that if the management team is indeed not selling their own shares, then there may be something to all this....simple stupidity and poor financial management. This can be corrected (learn from mistsakes of the past). If they aren't selling to avoid possible malicious or criminal behavoir...meaning thay are scamming everyone, then this stock, company, and innovation is all down the tubes.
Something to ponder.
Been out since Monday after holding and accumulating since May. Now waiting on the sidelines to see what unfolds in the coming days. I want to believe in this "something big is going on behind the curtain", but come on people. I'm glad I'm not listening to Monte (management/Alfie) anymore and I took my prize I had in the seats and refrained from choosing curtain #1, #2, or #3...which all three may just may have a jackass behind it....make that 2, 3 including Alfie.
TAZ
TAZ
I have certainly MovedOn with my money, but I'm not leaving the game. I may no longer be a player, but I'm now going to watch from the sideline. This is too interesting to leave it alone. A company with a great innovative product, great sales, great marketing and a lousy management team that can't seem to get their sh+t together and get out of a pps hole that is now getting deeper. The sad part is that so many are stuck in there with them. I climbed out, but I should have not allowed it to get in that deep before running. I came out on top money wise, meaning "ahead", but not that much and I'd be really pissy if I kept that long mentallity going into today and remained in. Then I'd be majorly down.
Too many unknowns for me to trust my money with them at this time, but if they do ever get their sh+t6 together, I'll be back.
TAZ
Right now all this is like someone is just pounding you to the ground for the last 2 weeks. I got tired of being pounded by the stock and the management miscues and bailed. I was long and cashed out on Monday and Tuesday after holding and accumulating too since May. I ended up staying ahead and taking home a few+ $K in profit, but nothing like I had on paper when this was at .20, but that's all part of it. Too much uncertainty now and I wish you both the best because I've been there. Take some off the table, it gives great piece of mind to a stock that continues to pound it with each passing day. Don't get stuck in a rut.
It's all really quite sad and those longs that are continuing to bail, such as myself on Tuesday, should consider themselves fortunate to escape with profits. I've been on the other end of the coin in the past and got in too late and paid the piper. A lot of people are paying the piper on this one with each passing day. I use "piper" because what I really want to project is something that will get deleted.
I am on the sidelines and will continue to be as SPNG sinks to oblivion or rises up from the ashes. Management really humped the puppy IMO. I hope they learned and it's not too late. Great product and marketing strategy, too bad piss poor financial management...people get fired over this.
With all that has happened, I've come to the conclusion it's all about timing with this company. And yes, those traders that have balked about it being a traders stock are absolutely correct. I got out after holding since the beginning of May. Had enough of the rhetoric and financial miscues. It's all about confidence in management and they blew for me....at least for now. I'm on the side lines while I took some off the trading table and have a nice fat check on it's way home. My remaining trading $ are now into energy and financials on the real exchanges. If SPNGE drops to the .05-.06 I think that would be a calling to get back in, but this R/S has me baffeled. As I said all along, I think the company's business case and marketing campaign is solid and sustainable growth is eminent, but the managements recent "manueavers" beg incompentency and I'm sure they will learn from it. GLTY and I'll be in the bleachers booing and chearing.
PS: Thankls for the PM tip the other day.
CB,
Well this dumbass had enough and sold the rest of my shares at .10. Held on for 5 months and sold yesterday and today for a decent profit. Just tired of it all. Great company and business strategy, terrible leadership when it comes to the shareholder value as of late. My confidence was shattered.
Good luck and maybe I'll think about getting back in soon...maybe sooner than later, but certainly not til this all shakes out..10K, RS, GETFUGU, and most importantly share structure where I feel confident they know what they're doing.
TAZ
Yes, don't enter until this all skakes out...late September.
I don't want a pickle, I just want to ride on my motorcickle.
Well here we are again....many mixed emotions and trying to keep them at bay in order to make rational financial decisions. I am a believer in the fundamantals as even DF/Alfie brought up again when this all broke last night. But I don't take his word for it since he's a big investor with a lot at stake and has his own aggenda/money to be concerned about. I take all the public info available to me with the help of the board and draw my own conclusion. The fundamentals are good if you believe the PR's which I do...obviously no 10K to verify, but that doesn't sway m,e from believing they are growing 800% and on the right track. What is not good is the managements ability to instill confidence in the shareholder and "promote shareholder value". The question then becomes will this ability come in time or do we continue to suck on it. Can the fundamentals outweight the ability to bring shareholder value? No way! They can sell all the product they want and be on every bilboard on every highway and unless the investing public believes they can manage the comapny financially, all bets are off.
I sold 1/2 my shares (lots) yesterday after holding for 5 months and I have a choice to make in the very near future whether to put more in or get out completely...and it all depends on how they recoup from this credibility issue they now have hanging over them. GLTA which ever way you play this stock, just stop playing the hype.
TAZ
Too funny! Yah, I'm in and I'm bringing my mother. Yes, it has just about come down to that.
This is what it comes down to...people now quipping about kicking some management butt in NYC. Sorry, but I'm sure that's the intent of the visit should the 10k continue to lurk in the shadows.
This is just bad business to treat shareholders in the dark like this. Correct me if I'm wrong, but don't the NYSE and NASDAQ traded companies anoounce their filing date weeks, some times months in advance...AND that they do make their earnings release on the date they say they would. It's expected of them. I can only hope now which is a POS for a investing strategy. Thank you SPNG.
You got me. Way to out of my league to know what we can or can't do and frankly, it doesn't matter at this stage of the game. I'm still long, but continue to whane (sp?). Sold some, but not most. What the company has done from a business/marketing side is awesome, nobody doubts that. I just don't like the way they treat the people (us, the long investor) that provided them the capital to be what they are today. I feel a little used and screwed and when I become torqued, I'm gone....at least with some ROI....use to be a lot higher ROI on paper, but I was a bigger believer back then, but not so much today. Again, great comapny, crappy supporter of the shareholder.
There are two sides to every story and I've been filtering them in my head since May. I have all the same info you do and I don't react on either the long arguement or basher BS which you can see as clear as day after you've been on this board for months. What I do react on...case in point by selling 1/3 of my holdings this morning, is the darkness and ambiguity as of late (last 2 weeks). Everyone then decides for themselves. I've decided to sell some and remain with some because my opinion of managements operations, as it pertains to shareholder value, not their business model, is now suspect. Lose confidence, lose momentum...and what has the pps done since the RS announcement... with no supporting clarity after 6 business days and no 10K as of yet???? That speaks to me, not a basker or a long.
Mr. Jim54, I can't PM. Please PM me again and explain in detail what you meant/learned.
Amen!
I couldn't have summed this whole fricking mess up better myself.
Very disappointing Nick...a NASDAQ wanna-be acting like an OTC professional as of late. I've been long and strong since May, but the crap that has happened the last 2 weeks is what it is...crap. Sold 1/3 today and may go further later today. Bashers have nothing to do with it, been filtering them out since day one and I just go with DD and what I see and read in the public domain. The comapny's lack of clarity and confusing moves now has everything to do with it. COME ON SPNG, grow the F-up and behave like a NASDAQ company.
All I see from these posting that are now spinning something positive in this mess is just the same old "short" song, but with different lyrics. If the lack of clarity to investors, the early RS announcement, and a delinquent 10K is called a strategy, then it's their own personal strategy and the shareholders who get/got to support it financially lose out financially.
Has anyone gotten a peep out of SPNG lately? I've certainly tried to no avail.
TAZ
Certainly a chance of that happening. With the lack of clarity from a company who wants to be on NASDAQ, they sure aren't behaving like one. If the 10K is delayed without a peep from management, people are going to be very pissed off including me and it's a sign of things to get worse. But I tempered the possibility with selling 1/3 of my holdings. I fully expect the 10K by 5:30 today, but then again it's SPNG.
YES...HERE WE ARE INDEED.....
I have had enough of the battle going on in my head, so I sold 1/3 (lots) of my shares at this mornings peek of the bounce. Bashers had nothing to do with it, but the company's lack of clarity, action and communication did. No action is indeed an action. I found it very disheartening that they would go out of there way to PR a major "negative" event, the RS, at 6:00am on the first day of the short week. AND now wait till the last minute to PR the biggest event in this company's history, the long awaited 10K...AND ALL WE CAN DO IS ASSUME AND HOPE THEY WILL. We also have to believe that it is what we think it should be, very positive per the PR's. but if so positive, why last minute???? My confidence is low right now and I am not going to continue to see my large amount of paper money continue to drop, so I turned in a good profit by turning the paper into real $ with a big sell. I still have 2/3 invested, but now have the peace of mind I have been so desparetely looking for since the RS announcement. Oh and BTW, this was my first sell order since I got into SPNG in May....meaning I'm a believer and a short "long".
TAZ
Don't you get it? People are selling becasue they don't like what's been going on. What confidence is there that the 10K will be out tomorrow? Or the next day, and the next.... People are fed up with the absence of clarity and when that starts to happen, people bail and usually it's for good reason. I'm sticking to my guns for now, but my doubt rises with each passing day and tomorrow will be a game changer type of day.
Can't log in either. Called them, the wait is 1/2 hour according to the recording so i hung up. Obviously, they have a glitch they are trying to work out.
Didn't know that, thanks for the reminder. You're right on top of things.
The only way it won't be tomorrow or Tuesday is if they are choose to be delinquent which is always a possibility, but I just don't see it in the cards. IMO they are utilizing the full amount of the extension time to buy shares. I'd like to see it out tomorrow, but I would expect you'll see it Tuesday.
It's cool KD60. Emotions run high on this board, especially with all that has happened in the last 2 weeks and the anticiaption of the 10K tomorrow or Tuesday. There have been some unique/strange/surprising/expected/crazy/unusual/awesome steps and announcements this company has made the last 3 months. It's a wild ride and I'm confident that the only thing broke within this company is the stock/share-structure. They are trying to right it.
Well, if you believe their PR's, then there is not much on the negative side IMO. The only 2 things I can think of that may be a surprise is if the buy back program was not significant (much less than the 150MM they set as a goal) and two, if their ROI is close to zero or negative due to all the advertising expenses. This is just at the laymen investor (my) level. There are other posters much more qualified that can get into the details of these two negative possibilities. There are probably other negative things as well, but all the positives outweigh any potential negatives....again, if the PR's are legit, which I believe they are.
What is your reasoning for thinking the pps will nose dive at the actual split day +/- one day? The news is out, the pps dove 30% as a result. Do you think investors are actually thinking there won't be one?
What's the new news regarding the split?
Missed a zero there, I think you meant 500,000,000/5,000,000. ($5MM outstanding, 365MM authorized.
What I just found very interesting in listening to the presentation all over again and paying close attention to the questions being asked from the audience near the end (turn up your speakers on max), the question comes up when they are talking about their plans and qualifications to go the NAASDAQ...."would spongetech entertain a 1 for 100 reverse split to get the share price up"? I paraphrased a little but that's almost verbatum. In the middle of SM's reply about that not being the plan and that thier growth should get them there in itself, MM interupts him and says it's just time to get off the BB.
My takeaway is that this was in the cards all along and MM never drew a line in the sand that a reverse split was not going to happen. Kind of supports of why we are here today.
D&T was obviously the trigger and mechanism. And in my eyes, shows management has been pretty true to their word.
All pretty exciting. I have no more nails to bite off and it's not even Monday yet (or Tuesday the 15th).
TAZ
With regards to the pps right after the R/S, who knows. But I'm very confident it will have little affect and will just be a math thing (no change in your stock "value"). In other words, I believe the news and acceptance (or not acceptance) is already built into the stock price, it's just now semantics.
I can not private message, so to address your questions....
The long haul for me is anywhere from 1-5 years. I will certainly take some off the table between now and 6 months from now, but it will only be in the 10-20% range of my total and large investment. I want to be able to cash inon my original investment so I'm riding on free shares like many longs on this board already.
The long term range depends on whether SPNG keeps being innovative and in all essence...does indeed become Americas Cleaning Company in my eyes. A household name in other words. I have no idea on share price with this kind of time frame, you can't quantify that. But what I can quantify is that my expectations are that I will have made money as a long term investor in the range of 10-20X I put into it.
I agree with you Mr. Fredk, however, the profit issue is dependent on whether you are here for the short term or long haul. IMO, the long haul is the big payout. Everything, including the tough decisions, the company is doing is based on the long haul. This short term is for the day traders and is certainly not my style or expertise. So you need to ask yourself, do I want to stick this out or not? Pretty simple answer if you can keep the emotion secondary to the logic.
TAZ