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I think someone said Schwab as well.
I would say the company called Thompson financial or whoever and pointed out that they had used the gross number reported rather than the net and encouraged them to update.
OTCBB has been updated to 960M as well.
I understand how that scenario works. That's why I asked to question to those who believed the naked shorting theory.
Z4 - I agree with number 2
BWOG - It certainly looks today like people are trying to buy as much as they can without pushing the price up.
For those that believe the float is locked up and naked shorting has been an issue, I have a question for you. Do you believe something happened last week to stop the MMs for continuing to short or do you believe they have finally come to a decision that it will be a losing proposition?
BMAS seems to be playing a more active role than usual in trading today.
Maybe they were just there to scare away a particular seller.
Someone's banking on the standard pattern. Sell on the open and buy in 10% lower.
For that matter - why do you say optimism is the forward looking statements? Ever since I got into SPNG all the forward looking statements have made the stock price go down...at least until today.
Why isn't reality the fundamentals?
Not to imply, of course, that new buyers don't matter...
Thanks Soapy. I know who they are. Do you know what I really want to know? Is it just a new buyer or are they buying for someone that matters?
Who is PATH buying for?
Cable Dawg - I think this is a stock you must take a chance on. If you read much around here, you're going to find a lot of controversy. My valuation for this company shows it to be worth $150M. I would suggest you do your own valuation based on the fundamentals. Assuming $150M, if you believe the dilution theory, it's worth more than 10 cents per share. If you believe the NSS theory, it's worth multiples of that number. If you believe the lies scam theory, you may lose your shirt.
I don't like the comparison, but they're certainly losing a lot more money than SPNG.
What else is new?
It makes absolutely no sense. Based on the constant decline in price over the past several months, if RME was doing this, they would have to keep taking less for the shares than what they purchased them for. There's no way the could make a profit even with a 40% discount.
Ok. I take that back. As soon as I ask where Lolly and Micro went, they both show up. From Micro on Yahoo. Make your own judgement call.
Micro says:
We have people here saying the o/s is 1.25 billion and the company is committing fraud and selling shares through RME and a bunch of other non-sense, but we have only traded 1 million shares so far today? Really 1.25 billion shares and we only traded slightly over 1 million shares? Interesting. Seems more like the sellers are exhausted, the float is all locked up, and we should be setting up an uptick.
Also, there's no more rumor floating around a juicy news release - Where did Lolly and Micro go? Similarly, there are indications that the company is not releasing capital structure prior to the quarterly news release. These things definitely put a damper on buying.
I don't think we can answer this question without knowing who was doing the buying and who was doing the selling.
Good question Robert. I have to say right now, I would like to see it hit a penny again to verify if a floor is still there.
I think people are not going to buy without good solid info from the company. I have no doubt that the stock is significantly undervalued, but I have a quantity I'm comfortable with (900,000), and I'm waiting to see if I can get it cheaper or hop on when a real increase in price is underway.
Thanks Soapy. Looks Great. I posted link on yahoo.
I bet that makes him feel pretty powerful right about now.
All trading stopped once Joel voiced his allegations.
Yes - Joel Trockman was listed as owning approx 6.6M shares.
Where's the juicy PR? All we've gotten is juicy accusations from Joel.
Probably snow. OG - Does it really make sense that the company bought 20M shares at 1.5 cents Friday only to sell for 25% less today? If not and your dilution theory is correct, who bought the 20M on Friday?
Drugman - You're going to know a lot sooner than June.
I can't say but you'll see it if you go to Yahoo
Micro also mentioned the "L" word...
The Mod Squad - Now there was a good show...
I bet that would be fun to see again. Don't think I've seen it in about 30 years.
Carp - This is not a typical penny ride. Not at all.
Maybe they did a trade that we'll see after hours
I already did.
Soapy - Thanks. I posted the link on yahoo. What is BMAS going to do this afternoon?
Do you feel Micro knows what he's talking about when he says BMAS intends to finish off the shorts before Spongebob comes out?