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Soapy gave a link.
Company from the movie "Boiler Room". The modern day version of the move "Wall St."
Guys (gals),
Keep the faith. Those 13(g)s weren't filed for entertainment purposes. I participated in the most recent one.
They weren't intended or expected to move the price, and on the contrary, we expected some resistance from the NS in order to deflate the longs' confidence further. The same resistance all other block-buster PRs are met with. J.T. Marlin has been busy keeping us down.
Things of significant proportion take a bit of time.
One way or another, the true value of the stock will become recognized. There are some important people that are going to see to that.
Here's my opinion, I posted this awhile back.
This is no longer a battle to bankrupt SPNG by pushing down the stock price and scaring away financing. SPNG is well beyond that, and has been for awhile.
The hedgies that are short SPNG are using SPNG stock as a source of financing at this point.
If they shorted 300mm shares at an average of $0.04, they're holding $12mm of our money. They took the demand and created excess supply. I'm sure they lent that money out to a different OTC company in some type of toxic financing with converts, and have pushed that one down too. And the cycle continues as they take those proceeds and move to the next company.
The hedgies are perfectly content on letting the stock stay at .025 for years. After all, it's basically an interest free loan. If it runs a little, they push it right back down. Hey, it's more free financing. Selling fake shares for cash.
If SPNG happens to go bankrupt while their 'loan' is out, good for them, the hedgies never have to pay that loan back (wouldn't it be great if your mortgage co went belly up and you didn't have to pay them back for your house?)
The problem for the hedgies comes in when they dug a little too deep with the wrong company and the wrong crowd, and something is initiated where they're forced to cover. Except the vig has been accruing behind the scenes, and now they owe $100mm instead of $12mm.
Probably not a big deal for them, as the hedgie's strategy worked fine the last 99 times. This 100th time is going to end a bit differently though.
symoskowitz@msn.com
I'm not in VNBC, but it is sure fun to watch! Maybe if check the TV guide, SPNG will be on next.
Agreed, if the past is any representation. Think the company lost over $2.00 a share last quarter. And I'm sure the MMs will run another pushdown.
This is a real bank. You can't balk at the stock going from .06 to .96 in hours though.
OGs find - VNBC
Wow! Look at the 60 minute on that bad boy! SPNG next?
"OK, Mr. Sister, I want you to tell me, no, better yet, stand up and tell the class... What do you want to do with your life?"
My logic is this:
If any large holder agrees to sell shares at price $X in a private transaction to allow a NS to cover, it would make sense for that NS to buy as much as they could on the open market at a price lower than $X up until that $X price is reached.
Rook,
Ditto here. Up to the boss.
AlanInvestor is, in fact, a participant on today's 13(g) and played a large role in all that needed to be put in place to allow this filing to happen. While everyone gets frustrated with the stock price and how long things take to come to fruition, he has been a proactive shareholder all in all.
Doh. Sorry Pug.... typo.
Cro,
You are correct. This filing will not trigger any short covering. In fact, you may see a last ditch effort to shake out weak hands. But the noose is tightening.
You can be assured that the shares represented on these filings will not be sold anywhere near the current artificially depressed levels.
Just to add clarity, everyone on the 13G agreed to vote in tandem on all items.
As such, Mr. Joel Levin has been assigned in charge of voting on behalf of the others listed. If you sum up all sole holdings besides Mr. Levin's, you get the 33,327,960.
The total accounted for in the filing is just under 41mm.
There are a few other people who were approached for the filing, but could not participate for various reasons (timeframe and what not). These people hold well over 100mm shares.
Soapy,
The two 13(g)'s only account for 13 people. That would lead me to assume that the remaining 2,387 shareholders combined have the remaining 18mm shares.
Actually, wadi and puppy have around 11mm combined.
So I would assume the remaining 2,385 shareholders comprise the remaining 7mm.
Oh crap, I forgot about you, BMAS, doog, snake, rook, web, carp, burnt, OGc, powerbar, crodad, tturner, ROB, rkor, Gen Grev, now invest, stockauth, clay, DarkLady, Dr, G_Money, Tuna, VZ, DFB, Jim, reaper, pudge, Premier and I bet crashman and FFF have a chunk.
Why is my math not adding up? lol
Funny thing is today's 13(g) of 41mm is only a fraction of what Furth's group holds. There were many large holders that were not included.
Soapy,
Maybe that was the tip of the second domino. Momentum is gaining. Soon they're all going to be tipping.
GMD
Unfortunately when this happens, the MMs try to push 'er down. You'll see one MM back off the bid on each 5000 shares that go through. That is if history repeats itself.
Yeah, well I feel like I know the girls from 'Snorg-tees' on a personal level now. Had to sign up for the full version of iHub. It was getting too serious. I had to cut bait.
Yes. Theoretically speaking that is. Nice to see ETrade strong on the upwards bid. Looks like they want in, or out, however you choose to look at it.
NITE is going to get taught a little lesson...
LOL... Eventually SPNG's weeks will catch up with ours; maybe next week.
Doog,
"I mean what better door opener into all the big retail chains can there be than being able to call on the purchasing managers & say "hey...this is spongetech & we've got the Viacom approved products ready to deploy"!!!"
Great point... Retailers are struggling right now. They're going to be very open to retailing high-margin, trusted brand products that parents and grandparents just can not resist buying for the tikes.
And when these gates are opened, it will be very easy to get new SPNG products into these retailers.
I picked up a few packs through their website too. And they're coming gift wrapped (great for a Dad with poor gift wrapping abilities) Perfect stocking stuffer.
Margins on orders that come in through their website are HUGE. With today's revenue announcement, they can buy back around 100mm RME shares. Not bad.
$3.2mm in 10 days is incredible. I think we're going to see a lot more of this coming up.
and that cash is from retail buyers coming in through their website (or an affiliate website).
It's in SPNG's account NOW.
GMD
G_Money,
You got a great alias. A lot of style in that alias.
GMD
The question would then be, is it better to make 10% on 200mm in sales, or 20% on 40mm in sales?
In addition, the added volume would lower SPNG's cost on producing the product as well.
And the in-roads and distribution will have been layed for when further products are introduced.
vzzz,
I think you picked the right time. Get ready for us to make some serious coin.
GMD
Let's not forget about the Viacom Spongebob, Dora the Explorer, Diego deals.
In 6-7 short weeks we'll be on shelves, and revenue from this deal could triple or quadruple our current revenues.
Wadi,
5 star post.
An adjustment to 3) on your list. The 40mm revenue number for this FY also does not reflect the additional $5mm that SPNG recently announced they obtained from their SEMA show in Vegas and additional media campaigns run in various demographics.
Nor does it include revenue from any deals that might have been inked the last month or so that have yet to be announced.
That PR reminds me of another Braveheart quote:
"The mere sight of him (eg, that PR) would only encourage an enemy to take over the whole country."
Power,
Yes, a poor joke. Wadi owed me one.
GMD
That is simply a great post all around.
Yes, that was a complete joke.
I would be digging those soup kitchens with you. I also heard you can find tasty grubs behind tree bark. Very nutricious.
But instead, I think we should opt for the surf and turf.
Yeah, that's the one. Are you sure I was 'just kidding'?
Well then, glad I could provide some entertainment...
But are you sure that was a prank email?
Really? I, for one, will be selling at market open then.
Pix from Rangers game the other night.
Bleeck,
I think the last thing VIA would want to cut is a huge money making opportunity passed through their existing retail channels. Probably only take 1 or 2 people to handle things. Agree?
GMD