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How many more companies have had their stock value diminished? How many investors have had their investments destroyed? I am okay with shorting a stock, but illegal shorting is a whole different story.
Quick response to your PMs sent the other day. On the question more or less of what I think: Don't really know. I believe there are compelling arguments rooted in some facts and some speculation on both sides. A 10k would be very helpful!
And the other answer: Wake Forest.
That was my point. When you are subpoened (sp), you are handed a summons from the court.
a subpeona is what the article that "summons" one. In other words when someone is summoned to court or investigationt they are given a subpeona.
Good posts that probably expresses the concerns of many here. I sit here reading and wondering all the same whys?
In the past year the government has been extremely watchful of shady deals: Madoff, banks, Wall Street etc. I say this because I've read comments like the Post article was only in the post and responders said that's because the article is bull, or the post is junk news or nobody else is desparate enough or cares about Penny stocks. In light of this past year I tend to think that is wrong: any market mis-deeds are potential big news cause the whole world is so sensitive to them. And breaking a story is always a feather in any organizations hat. So that makes me wonder why haven't others jumped on the ban wagon - they might now.
I also wonder is it possible that a lot of nuttiness has made this into the proverbial mountain from a mole hill? Are connections being made that really ridiculous. In other words a bs post that gets linked to something actual with no real connection but now has the appearance of one. Is this a story that got legs and is only an unstable three legged stool?
Why in this day and age would anyone risks serious consequences: is anyone so narcistic that they think they would not be caught in a climate where every thing that is done in the market is being scrutinized. That seems so unfathomable to me. If the M&M boys are that egotistical to think they are smarter than everyone else on the planet, then they are no different than Mr. Sykes who screams out inuendos and accusations faster than a child having a temper tantrum. And I am one who reads his post on here (never been to his website), because I try and read all the posts here to see if between all the ranting and raving there is some salient points to consider. And sometimes there are. May not approve of the messenger's style, but still want to see if the message has any meat to it.
Why post the Sec investigation after 5 PM on a Friday? Is it because they know the stock will either tank or trading be suspended. And the weekend will lend an opportunity of thought and the chance that cooler minds will prevail?
Are these all signs to get out if it's not too late? Or, is there enough mitigating stuff here so say,"whoa this just doesn't add up?"
Only time will tell. The one thing I do know this is a lose lose situation. Regardless of how this turns out the lose lose is that there are those here that will laugh and make stupid remarks at those made or lost money. Gloating is the truest indication of insecurity. And we got some of those folks here.
Well I have really rambled in this posts and that's because I can't definitively answer any of the questions of where this will end up - ahhh frustration.
Was the there a reason given for Spnge rescinding? Sounds like Getfugu is financially strapped....cold feet maybe?
Just got to NJ....driving all day. Can some one give me a quick summary of the day's events. PPS?? What happened. Trying to read but exhausted.
Sign me up!
I'm thinking some "issues" here.
That's the beauty of "implying" or using inuendos in a story. Nearly impossible to immediately prove or disprove. For instance: Michael Popovsky, CEO of LA-based sponge maker Spongeables, a SpongeTech rival, scoffs at the idea that a company that sells sponges with soap in them can generate $50 million in annual revenue.
"Impossible," he said. "Categorically not."
Popovsky said industry sales tend to be in the $5 million to $10 million range. (I added italics to quote Post article
He can say that because it is his opinion and therefore not libel. If he were to state that as fact and the OBVIOUS intent was to defame SPNG, that could be construed as libel (slander is something said, libel is something written). Nothing in that article is easy to prove as having intent. Thus, lawsuits become a challenge probably not worth the expense.
You make a great point though: This article isn't much better than a blogger - that's the challenge the media faces today: distinquishing themselves from anyone who want to merely blog an unsubstantiated opinion. It appears that the writer here failed to distinquish...
That is fabulous! Just read all the comments as you suggested. Your comments and the others were great. Thanks...ahhh start my day smiling!
I think the share holder letter was the first reaction to the Post's articles. Although Share structure was not addressed with definitive numbers, I suspect they prefer not to do that until the numbers/10k/audit is complete. At this point putting out any numbers that were not on target would just add fuel to the fire. The good news, imo, is that they re-iterated what we already knew which, to me means, the basic revenue numbers are good. Something disputed by the competitor in the NY Post article that claimed anything greater than 5 - 10 million was impossible. It would be very foolish to public re-state numbers like 50 million if they were not real. Then they would really be asking for trouble. I am beginning to think the NY Post article was a whole lot of unfounded speculation based on some very questionable people's supposed comments...
Normally a "batch" delivery doesn't necessarily mean X amount but indicates a stream of deliveries over time.
Chip Griswold to kaja.whitehouse
show details 12:59 PM (0 minutes ago)
Ms Kaja,
I was surprised to read such a poorly vetter article: by poorly vetted those less than credible people reference. Mr Pensley who is no stranger to the SEC, having been in trouble for fraud himself. And, of course, Ms Abato a not so long ago disbarred attorney. Then of course the silly conversation with a competitor - wow were you expecting him to say something positive? And why did you neglect to mention that Spongetech is also in CVS and many other retailers? Sloppy work is a generous comment.
You should do your homework!
Chip Griswold
Emailing her right now!
Hey advertisers are charged by the amount of hits a page gets for online papers. Any adds on that page? This forum alone probably gave it an additional 5000 hits....
Sheesh are there any repectable lawyers in NY...if this were not so pathetic, it would be comical.
That should be sent to the author of the Post article. Regardless of the article's validity, she should check her sources. At the very least mention his tainted past...
Put some Armaretto in it and fasten your seatbelt, this might be a very interesting day.
I read it as being cancelled. No reverse split forthcoming period. But thing can change!
WOW Looks like LegalTX (sp?) was on the money.
So this is the proberbial pot calling the kettle black...no shortage of scam artist in NY.
LOL...It is the one detail I learned working for NYT for 20 years...
Newspapers are printed basically in two formats: Either Tabloid or Broadsheet. Tabloid is a book like newspaper as is the Post, and Broadsheets folds at the middle like the Wash Post or NY Times.
The connotation of a "Tabloid" being crazy stories comes from things like "The Star," "Enquirer" etc....
So if you google Tabloid you should get many papers that show up. The New York Times book review, for instance is printed in Tabloid format...
My L2 must be screwed up not seeing that stuff....
Be very careful....
Good Morning Katy....
Hmmmm...now that is a great idea. Visit some old friend at NYT while I'm there. Thanks!
Good Morning all. Listen, I didn't get much sleep last night and woke up to some bantering here....My Aunt passed away in NJ. My mother in Florida is insisting I drive up there to attend the funeral. I didn't even like this Aunt. If that were not bad enough I don't know how I will be able to stay on top of the stocks I'm in. The funeral parlor probably doesn't have wireless for my laptop.....
Pleeeezzze SPNG give me some good news!!!
And it's only Monday.
Show me a company or firm of any size that doesn't have some "negatives/black marks" in this litigious society, and I will bet you will find a company/firm that is:
A. Going out of business.
B. Isn't doing very much business and will soon be an A.
Not saying that's a good thing, but it is what it is...as they say.
Do you think cancelling the R/S is remotely plausible?
hope you mean .08
Sheesh...you are not cheering me up...
This is Quote Tracker a cheapie I use at work. Right now it is screwey. I get no fundamental data on the watch list for SPNGE, and what I get on SPNG is wrong. If that were not aggravating enough. I get no Level II on SPNG, and apparently wrong Level II on SPNGE! Then people wonder why I drink!
Thanks....not what I wanted to hear, but thanks
Thanks....not what I wanted to hear, but thanks
Some one tell me what we are at? My intraday is showing .105...this is screwey
Woke up to this...
Dear ,(removed)
Account Number: xxxx-XXXX
Please be advised that the stock symbol SPNG has been changed. The symbol has changed to SPNGE. All account positions have been updated to reflect the new symbol. Open orders with the old symbol have been cancelled. Please review your order status screen and re-enter orders as desired.
If you require further assistance please don't hesitate to contact us.
Sincerely,
Scott Johnson, Vice President
www.optionsXpress.com