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Thanks Jim... did not catch that PR
Something in the air?? 8.1mm traded - 11:10am? the opposite of what greys do would be to gain volume in sessions no?
Hey Spongeboy,
Where you sucessfull picking up that 1/2 million at .04? I could only get 42K I will try for more this morning
Thats a good question dumar. Do not expect a sensible answer as you will only get opinions from people who have never actually been there. In many cases you will not even get a disclaimer stating that it is "their opinion" and the statements start to look official. I have contacted the SEC regarding similar questions and as ivaisive as they are, you can get some general questions answered. Just takes Days for them to return your call so be patient.
DO not forget the FUD being spread like peanutbutter. It is what it is and time will reveal the facts.
GL
I have had many different sized buy orders in since 9:30 for .04 and nothing has executed. Yesterday yes but today nothing as of yet. GL
"and the company was disinclined to clear up questions informally with the SEC"
This I did not know. Is this an assumption or did I miss this newswire? As a matter of fact I do remember reading an 8K filing stating that "The Company has been cooperating fully, and intends to continue to cooperate fully, with the SEC with respect to its investigation."
I believe the term "disinclined" is a rather poor choice of words in the case of this investigation.
Being versed in SEC standard operating proceedure you know that the they requested certain documents and I am sure you know how they go about requesting certain documents - SOP ("The Company and its officers and directors have received subpoenas requesting the delivery of certain documents") Power of subpoena is obtained via formal investigation.
I am sure there are 100 scenarios that "would" have caused a formal investigation to be, but the fact is we do not have the details as to which one(s) did. The summary of possibilities was laid out in an 8K and thats all we get!
The SEC Division of Corporation Finance does review and assist filing companies with questions regarding disclosures and interpretation of SEC rules. I for one believe that our management is on a first names basis with such entities and will be filing a air tight 10K and 10Q
Understood. But we are talking about a company already under investigation with the SEC.
I agree. Not to mention subliminal branding. ADVERTISING WINS EVERY TIME. NASCAR is a billion dollar indusry that proves it week after week.
Who in the world could despute that?
How many ads does the average person come across each day?
Anyone in business knows that branding and/or advertising is key to future business
And recalling…
(Bill Young)
"at the end of the day profitability wins"
"revenue and profit that's our plan"
I doubt the implication was that the SEC was "HELPING" spng file but the organization is in office to protect the investing public. Why would anyone think that the SEC is sitting around licking thier chops and waiting for SPNG to release a bogus 10K? It only makes sense that the sec (who's concern is the investing public - hence the suspension) would make sure that a company under investigation would not allow bogus figures or statements on a 10K. IMO this is the reason for the incredibly long delay. They want verification on all figures and forward looking statements prior to its release.
NSS positions are not poved until they are exposed! by the time they are exposed we will no longer need to talk about them because this board will clear of many and the savy will have accumulated all of the profits from the inevitable S Q E E Z E :)
Hey No_BS, what do you think about these new deals being cut with basket ball and hockey? These sports arenas are becoming saturated with spng advertising.
I've always figured that before I go to jail, I would want to make sure my company is well advertised. Just one of those things... you know... I would not worry about making sure my family is set or making sure my attorneys are paid enough to motivate my freedom for future business. Before I do my time in the can....I take care of whats important - ADVERTISING
This, of course, is true. If you watched game one and two you saw the advertising. If you watch 6 and 7 (if it gets there) you will see it again.
Thats just one more reason I would like the Yankees get spanked!
Thanks SJ.
It might help if you explain how the trades are made. Do you know?
I'm not sure. I was hoping someone else had information. A friend told me he read something here on the hub but I can find nothing
SPNG Hearing tomorrow
I have heard through a grapevine that there will be a hearing tomorrow. Can anyone verfy this or is this bashossip
one thing you can be relatively sure of is .04 - .05 is NOT FMV of this stock. If the bashers are right then that is an gross overvaluation and if the longs are right then it is a gross undervaluation. If the truth is somewhere in between the two it is still very likely that we are extremely undervalued.
Its like rolling dice... but I like the odds
I thought that 280 was the growth we are attemping to maintain. Just trying to keep it real and down to earth. 300 to 350 is possible
Mingy.... I am curious, when figuring your FV for SPNG... what are you using as your EPS? I personally can not get the EPS above .55 cents but I am not expecting more than 280mm in gross revenues for this comming PY
NOW YOUR GETTING IT!
There is no reason to NSS a $0.02 stock. Your best gain is only $0.02/share and "you have to NSS a ton of shares to make it worth your while".
its a pike dream
SPNG - The future of it... the way I see it
(post size is due to my one post per Day restriction)
We all know how many unanswered questions face us with this company but I want to point out the answers that many tend to overlook:
1) We are trading on the greys and I personally have made 6 transactions without too much hassle. If you are buying OR selling on the greys its not too difficult as long as you are right in the middle of the average trade price with an even block of shares (its a prearranged marriage attempt). The mere fact that we have had some very high volume days means that there is still liquidity in the spng marketplace. This is good. Buyers know a bargain and it would not surprise me if some of the smarter bshrs are building themselves a little spng porfolio for their future. Bottom line is that A) trading is going on B) it is not at the predicted sub penny level C) trading is not terribly difficult if you really want to trade
2) 3 form filings. We have seen that metter and lazauskas have done dilligence with thier initial statement of beneficial ownership and for sizeable amounts of shares. While a naysayer would argue that this is to make them look innocent, I would strongly disagree. It is ballzy and crazy for one man to pull a scam and to attempt to get-a-way with that scam but we are not looking at one possible greedy/crazy scammer... it would have to be three crazy scammers and if you look at thier 3 forms it would have to be 3 scammers who want to take thier wives down with them. That possibility does not sit well with me. Grant it we have not seen SM's 3 form yet but you can bet it is on its way. I doubt they are intested in taking themselves and thier families to jail regardless of the payoff when they have a company that has been built strong enough to make them big money ligitimatly.
3) Moving forward with the branding campagne. While many spend the day writing reasons why we should be cutting our losses and moving on... the executives at spongetech continue to brand the name and sell the product. They have created a freight train and the money comes EVERYDAY. The sporting events we all know are an incredible way of keeping and growing a brand, and we have been pr'd (both during a suspension and while on greys) that we are cutting new deals and keeping the brand alive. This activity serves no good purpose to a company that is looking for plane tickets out of the country. this is money that could be saved and used for thier own personal greed if it were the case. The New York Yankees (although I cant stand em) are going to the World Series and have home field advatage. Guess what is hanging in the field... you guessed it. Same thing you see in boxing, tennis, basketball, hockey, football and the SUPER BOWL. Why i the world continue this facsade?
4) Lack of enforcement. While i could be jumping the gun a bit here, I do not think we will be seeing very much on the SEC or the DOJ front. It is unfortunate that we will not recieve official word as to when this SEC investigation is over (might be over already) but we are currently over 5 weeks of formal investigation and probably a few weeks of informal and the leaders are not in jail nor have we heard of any fines being levied. While it is impossible to accurately predict the outcome of the investigation it is my guess that it was brought upon by a few unscrupulas individuals who were hellbent on demolishing this company. I think the goal was to get the share price low enough to cover short positions from well over a year ago but this would require sub penny levels. In that respect it has been a failed attempt and I do not think we will see these levels. For this reason I look everyday to see if some of the wiser thieves from the past are making attemts to cover at a loss but I have not seen a significant enough amount of buying to believe that it has taken place as of yet. It apears that most of the long investers would rather take a 100% loss then an 85% loss and not get a shot at reading the finacials. I understand that school of thought. If the financials do come out and you have been invested for a long period of time and lost your seat for pennies on the dollar??? ouch that would be painful. It does not appear to be the time to dump. If you have then hold, if you don't then stand by (and pay attention).
just my opinion as always. Make you own decesions with your own money.
wrong... do some research
Can anyone on the board give me a general consensus as to when the ruling will be? I am reading different opinions but does anyone know?
Is their a possibility that they can be awarded partially?
Will a ruling in their favor get pave the way for emerging from bankruptsy?
TIA
Metter files with SEC - for the sticky notes
http://www.sec.gov/Archives/edgar/data/1201251/000114420409054225/xslF345X02/v163363_ex.xml
What the verdict? Is it in yet? I had to leave early today and I missed the fun. Did they clue anyone in as to when.
TIA
New Website? new vendor (K-mart)? and just when all was thought to be lost. This company has been victimized, slandered, hated by many and is still standing tall with chins held high. .03 for a 2.00+ stock? what a garage sale. A Diamond in the rough.
21mm market cap? Insanity in its purest form. It appears that many will get very rich from this.
if the OS was 6 times the pr'd amount (505mm) and the Q1 sales figures where 1/2 of what were pr,d this would STILL be a dream at its current price.
PS... Limited to one post per Day (serving my time)
Still short of all the facts.
Anyone with the right informaion on the said fininacals. Think clearly. If the financial come out Then they will be good NO? If they are not good why bother with them at all. If it is the fraud you and many others claim it is then this is a moot issue. If your expectations are that they will not come out then thats one thing but the filing of them would have to be good.
I believe we will be seeing them and many who do not believe this will fade into the dust.
We will see!
dont forget to mention that it usually takes 4-8 weeks before a MM (broker dealer) can state everythings ok, meanwhile it trades on the greys, always.
Now that is new information to me. please link me to evidence of that
how can it be? no financials are out yet and the SEC investigation is on going. show me where an MM filed a form 211 for SPNG??
Do you really think we are going to see a 211 before a MM? Comon man they just came off of the suspension friday. keep it real
no not that simple. they need to file a form 211, that doesn't take a few days or week either. remember although suspension is only 10 days, the SEC investigation is still ongoing. no mm would file/touch this until it is over with IMO
At least you have admitted on this that it is your opinion (rare)
I expect those who predict a filing in the morning wont be embarrassed if they are wrong. They are used to the disappointments this company shells out continuously.
Actually that comment could not be truer
SEC ALREADY has found that the revenues are fraudulent
Proof power... proof!
Not my post ... but thanks
and that was the status as of closing friday. AND - it will be there until financials have been submitted, reviewed and approved by an MM
Old news
go to your brokerage account. put SPNG into the find quotes, then tell me what the bid and ask are? then try it with a tock that is not trading grey. let me know :)
lets keep it real. Their will not be a bid or an ask until the market opens - providing financials have been submitted, reviewed and aprroved by the market maker.
Did you not read what I just posted legal???
cant wait!!!
and of course I am reading what I want to see. Dont you?
its there in BW and I want to see it!