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Wrong. Fiscal year end is only required. Current date of filing has nothing to do with a 10-K.
The 10-K is only going to tell us the A/S and O/S shares of May 31. 20009, fiscal year end. The big question is what happened after that date until present. That we will have to wait for until next 10-Q.
"120 Sears retail locations in Canada under the “As Seen On TV” product line this Fall"
Your great DD missed the "Fall" part of release?
Moe got that email because she locked out his email. Tired of hearing from him.
Any one have a guess on 10-Q? Revenue for the year 5/31? Earnings per share? Seeing as the earnings of diluted shares will be .oo to .005, I would guess it will drive many recent investors away and PPS will drop some.
SpongeTech® Delivery Systems, Inc. Take Action to Reduce Number of Authorized Common Shares to 900 Million Shares
SpongeTech® Begins Process to Lower Outstanding to Approximately 500 Million Shares
What the heck does "Take Action" mean?
"Begins Process"?????
Come on guys in the office wake up. This tells us nothing.
That is quite standard for SPNG, filing late but in time.
As posted before:
From Ihub Financils on SPNG,
Accounts Rec.
Average Collection Period 254
Receivables Turnover 2.8
1) They cannot even collect what they are owed in a timely manner (over 70 % by over seas companies)
Why no Line of Credit yet based on AR as PR'd? Think the banks know a little more than we do about their collections?
AR Has to be Huge item on Books now with all this PR'd sales news, and still no Line of Credit?
Do Longs really believe that they are not using some A/S to pay current liabilities? Yes, they can do that without us knowing from a filing.
Are they still buying back shares? Who knows. Have to wait for filing.
Are they using A/S to pay current bills in hope of buying back before filing like they did in the past?
So sick of these games.
You have a pair of ruby slippers?
He could have asked with a "please" at least. :)
Posted by: cheapfish Date: Wednesday, June 17, 2009 2:20:17 PM
In reply to: None Post # of 31324 [Send a link via email]
One thing is for certain, we have plenty of pissed of EESO people to deal with here. It won't go away until things prove themselves here. Short-term outlook tells me that EESO will give Mark a bad name and he has to (and has been so far) work hard at redeeming himself. In the end these bashers will be bitter haters.
Example A:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=38674897
Look, I called FINRA and the symbol change is in no doubt coming. We shall see it very soon, either this week or early next week. I am sick of waiting too but you are all acting like 5 year olds on the day after Thanksgiving. Mom and Dad bought the gifts already but you got another month until Christmas!!!
Not selling shares. They are just paying bills with them. Not the same but is still diluting.
You nailed it. Paying their bills with shares. That much is a fact.
Agree with that.
At "least" a year away.
Smart post.
EESO is a non-reporting entity. Financial Statements they put out can be whatever they want to make up. No independent audit, no Government filing with SEC, no one to hold them accountable. If you want last quarter Financial Statements for EESO, make up your own numbers. They are just as credible as anything the Company puts out.
Gotta love this, long or short. From Yahoo EESO board:
Re: There is really only one question 16-Jun-09 03:41 pm
jared, " aah..well...we are growing a company...you know what Warren says, ahh...i don't have those....ah...numbers in front of ....me....ah...the potential...ahh u.s. market huge ...if ....aah ...socialism keeps coming...and obama ...ah ...releases ...ah ..funds...if the company...ah.....grows...pps will follow....i can't say because of contractual agreemn..ah...did you hear..we sold to pete down on the corner...he ...ah ...manages that whole mcdonalds restaurant...we ....I CAN SAY....they will be ordering...ahh...183.00 dollars a month worth of ....ah supplies....wait...ah....what Mark? ...they are ordering 190.00 DOLLARS worth a month...so...like Warren says...one of my favorite quotes...ah..you know..that thing..i..ah always say..when i cannot lie to ...you.. I want to thank you ALL for coming tonight...and jeff...thank you soo soo much for your time....cuz...a ...we are ...ah want to be...ahh ..transparent for all to see....ah...we have the potential to ahh..wait said that several times....a INTEREST,,,YES ....a KOREA has very much INTEREST In out chemicals.. 80 million dollars ...ah...south Korea has...wait..they are ....a say they are going to spend with u...for a stuff they need...potential is there...interest is there...we hired a lady to answer mark's phone....now...ah..see...we are serious here.. thanks all.....i need a drinkkkkkkk
Nasdaq is a year plus away.
Call the company Jack. I am sure they would be glad to tell you.
They do pay there bills sometimes with shares. That is for sure. pssstttt "it is RME" not REM, that is a music group. ;)
Call investor relations at SPNG. I am sure they can provide you with all the info. you need to contact them.
thats just compiled old news.....ah forget it.
It is a summary.....ah forget it.
Boring read:
Feb 09
10-q
In July 2008, RM Enterprises International, Inc., a company that is our majority stockholder and which is controlled by our officers and directors, agreed to grant the Company the right, exercisable by the Company at any time on or prior to February 28, 2010, to repurchase all or any portion of the 267,154,132 shares issued that RM Enterprises International, Inc. had purchased from the Company since January 1, 2008 at the original price paid by RM Enterprises International, Inc. to the Company for such shares, or an aggregate of $4,918,432.46 for all of such shares. Such shares were issued in tranches at the time of each of the advances of funds to the Company at a 40% discount from the market price on the date of each such advance. The average per share issuance price for the shares was $0.0184.
During the three months period ended November 30, 2008, the Company issued an aggregate of 409,953,442 shares of common stock to RM Enterprises International, Inc., a related party, in consideration for the conversion of an aggregate of $6,319,569 in debt or an average of $0.015per share.
During the three months period ended February 28, 2009, the Company issued an aggregate of 306,412,290 shares of common stock to RM Enterprises International, Inc., a related party, in consideration for the conversion of an aggregate of $1,188,970 in debt or an average of $0.0039 per share.
For the three months ended February 28, 2009, the Company issued an aggregate of 415,327 shares of common stock to RM Enterprises International, Inc., our majority stockholder which is controlled by our officers and directors, in consideration of the advance to the Company of an aggregate of $4286000 by RM Enterprises International, Inc. Such shares were issued in tranches at the time of each of the advances of funds to the Company at a 40% discount from the market price on the date of each such advance. The average per share issuance price for the shares was $0.0103. As described in Part II Item 2. Changes in Securities and Use of Proceeds, on January 13, 2009, RM Enterprises International, Inc. (“RM”) agreed to return an aggregate of 133,577,066 to the Company out of the 267,154,132 shares which were originally issued to them in consideration of the conversion of an aggregate of $4,918,432.46 of debt between January 1, 2008 and June 30, 2008. The Company intends to return such shares to treasury and cancel them. The parties have further agreed that the Company has the right to repurchase the remaining 133,577,066 shares held by RM that were issued in consideration of the conversion of an aggregate of $4,918,432.46 of debt between January 1, 2008 and June 30, 2008 for the aggregate purchase price of $4,918,432.46.
Because of the nature of our relationship with RM, the above offerings and sales were deemed to be exempt under rule 506 of Regulation D and Section 4(2) of the Securities Act of 1933, as amended.
On April 16, 2009, RM Enterprises cancelled 526,585,544 common shares to reduce the common shares issued and outstanding from 1,249,451,605 to 722,866,061 common shares. These common shares were put back into the treasury.
FORM 10-Q
Nov. 2008
For the three-month period covered by this report, we issued the following securities that were not registered under the Securities Act:
7
In September 2008, we issued an aggregate of 198,800,000 shares of our common stock to RM Enterprises International, Inc., a related party, in consideration for the conversion of an aggregate of $3,125,492.95 in debt or $0.01572 per share. The control persons of RM Enterprises International are Michael Metter, Steven Moskowitz and Frank Lazauskas, all of whom are directors of RM Enterprises International
In October 2008, w issued an aggregate of 157,003,436 shares of our common stock to RM Enterprises International, Inc. in consideration for an aggregate of $2,501,285.67 in debt or $0.01593 per share.
In November 2008, w issued an aggregate of 54,150,006 shares of our common stock to RM Enterprises International, Inc. in consideration for an aggregate of $692,789.96 in debt or $0.01279 per share.
Purchases of Equity Securities by the Issuer
On January 13, 2009, the Company intends to return to the treasury and cancel an additional 133,588,066 shares of our common stock. The shares were acquired in accordance with a July 23, 2008 agreement by which we were granted the right to repurchase 267,154,132 shares of common stock that were purchased by RM Enterprises International, Inc., at the original price paid by RM Enterprises International, Inc. or an aggregate of $4,918,432.46.
On January 13, 2009, RM agreed to return an aggregate of 133,577,066 to the Company out of the 267,154,132 shares which were originally issued to them in consideration of the conversion of an aggregate of $4,918,432.46 of debt between January 1, 2008 and June 30, 2008. The Company intends to return such shares to treasury and subsequently cancel such shares. The parties have further agreed that the Company will still have the right to repurchase the remaining 133,577,066 shares held by RM that were issued to them in consideration of the conversion of an aggregate of $4,918,432.46 of debt between January 1, 2008 and June 30, 2008 for the aggregate purchase price of $4,918,432.46.
The Company initiated a share repurchase program on September 5, 2008. As of the date of this report, we repurchased 3,265,050 shares of our common stock. All repurchased shares are currently issued and outstanding. The Company intends to return the repurchased shares to treasury and cancel them.
As of November 30, 2008, 3,265,050 shares were repurchased under the plan. A maximum of 21,734,950 shares may still be repurchased under the plan.
In addition to the foregoing, certain affiliates of the Company have purchased an additional 76,623,293 shares of our common stock since September 2008 through December 31, 2008. The affiliates have agreed to such shares to treasury and the Company intends to cancel these shares.
Hey Soapy, do you know how relevant and current the ratios and turnovers are here posted with IHUB as Financials? Thanks.
Average collection 254 days.
What community college did you spend $18.99 per credit hour to learn that was a good number? Of course AR are going to increase with increased revenues. However, you need to collect them (a)in a reasonable amount of time, (b) DO COLLECT THEM. Steve has told us that they are great at collecting them, but Cash Flow and the average days out does not show that. Why don't you give us all a quick FS 101 class on how to "read" them?
I did talk to Steve about it at the beginning of May. Would not confirm or deny production run or warehousing. Thought maybe someone here was privy too or has seen with their own eyes.
I spoke with Viacom and was only given, "no comment"
Steve needs to let us in on whats what with Sponge Bobby.
Not when
Average Collection Period 254 Days
That is not good.
Does anyone know for a fact that Spongetech has been sitting on a warehouse full of Sponge Bobbies since Feb. or March? Does anyone have facts of release date, if and when? Does anyone have any idea how much was put into Sponge Bob production and storage to date?
MARK THIS POST NOW>>>>>>
SPNG will end the day in the GREEN, the RED, or dead even.
100% FACT.
You need to Love the company, not the stock. Stop watching the PPS every second if you are long.
L2, L2, L2...STOPPPPPPPPPP
They only let you see what they want you to see. If you have L2 for SPNG and are a worry wart or a "long" who watches every blip...STOP IT>>>>>>>>>>>>>> you will drive yourself crazy and you will still have NO idea what they are doing. Just an idea for new investors and or long time traders who need to buy a vowel.
Joke =======> (. .) X 2
ah...forget it.
Joke ====> (. .)
0 ah..forget it.
Been shorting OTC, Pinks and Blues for the past 12 years. You really do not believe you can short "any" stock?
right off the presses...
http://biz.yahoo.com/e/081015/spng.ob10-q.html