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So only 11% of the claimed $70 million in orders actually turned into sales.
Big Lug
4. Dicon provided a schedule of sales by customer for the period July 9, 2009 through April 30, 2010 which reflects that its net sales totaled approximately $6.3 million.
Attached hereto as Exhibit 1 is a summary of Dicon sales by customer for the period July 9, 2009 through April 30, 2010. For the period June 1, 2009 through April 30, 2010, Spongetech
provided a schedule of sales by customer which reflects that Spongetech’s net sales totaled approximately $1.3 million. Attached hereto as Exhibit 2 is a summary of Spongetech sales by
customer for the period June 1, 2009 through April 30, 2010. Accordingly, the Companies’ total net sales for the period June 1, 2009 through April 30, 2010 (the “Current Period”) reflected on
these schedules is approximately $7.7 million.
Is today the day Mosky's latest extension expires? Anybody hear anything on this?
Big Lug
you would likely be quite surprised by how much money us 'keepers of truth' made of SPNG. i have no problems making money on a penny stock P&D as long as i am publicly honest.
there's probably a storage unit somewhere with some old sponges in boxes growing cobb webs and their probably in collections for the rent..lol
Come on Puppy. They're letting Mosky go to a wedding in New Jersey. This obviously means that the judge believes Mosky is innocent. :)
Big Lug
Not at all. Only seeing what is really there. Nothing more, nothing less.
Am I missing something?
How does that saying go....."Buy on bad news, sell on good news"?
I think this is bad news for the company and yes, I would recommend this stock as I have recently. You can bash it all you want and drive the price down, that is when people like me have no problems sinking 20,000 bucks into it, which I have done.
Personally, I never thought it would be moved up to the NASDAQ in the short term. Long term, maybe. Every company on the OTCC wants to be moved up to the NASDAQ. And yes, I do believe there is a NSS. Will that be the MOASS everybody dreams about, I doubt it, but never the less, the NSS will move the price of this stock. Once M&M get their act together or new management is put into place, I can see special things with this stock.
If you are able to get the stock at a cheap price, then you do it. I know the S/D crowd don't like to hear that, but you never buy on good news, just on the bad news. If you are buying only on good news, then your not going to make a profit.
Thanks
Big Lug
If the SEC strips M&M of their class B shares that leaves Mr. Lazauskas. But his class B shares are not enough to offset the votes represented by the common holders.
Big Lug
everyone around here should already know that M&M paid for advertising with some of that dirty money and pocketed the rest.
Is it a wrong assumption to think that if the SEC can force a corporate officer to resign they can also force that corporate officer or any other corporate officer to give up their class B shares so they effectively turn control of the company over to the common shareholders?
Big Lug
I bet all my completely worthless shares that something is going on here. Don't understand why the SEC would be sitting at the table. This is analogous to the Indians sitting down at the table with Custer at the battle of little big horn. Why waste their time. Don't M&M have about as much a chance as Custer had of making it out of this?
Big Lug
I
But not a happy one
Big Lug
Puppy
You are absolutely right. They're both crooks M&M and MMs
Big Lug
Yes he's asking about Metter and Mosky
Big Lug
PS. That's ok. The laughs keep rolling here in sponge land
Why no DTCC investigation? I thought they were looking to get a handle on the real share count whether it be 722 million or 10 billion or anything in between
Big Lug
Banned SPNG supporter???
I can't think of a reason for the SEC to spend time at the table with these guys unless there are even bigger fish to fry
Big Lug
Just would have stuck someone else. But looking out for yourself is the name of this game
Big Lug
John
God bless you as well
Mike
OT,
Thanks for the laugh. That's one of the funnier posts I've read
Big Lug
Maybe that's why Mosky believes that revenue numbers are real. In his mind revenue from stock or revenue from sponges are the same
Big Lug
He's still a dirt bag and should be locked away with the rest of them
Big Lug
If M&M are guilty, then he is guilty as well. They all need to fry if guilty.
Big Lug
Lots of people and entities made lots of money off this scam. Not just M&M
Just another transfer of wealth in the financial markets. Get used to it it's the way the system works.
Big Lug
And Sponge Bob is still in the Walmart in Lisbon Connecticut. I purchased two Sponge Bob sponges last week only because my son loves the product. I'm not a supporter of M&M unless they are not guilty, but I don't see that possibility based on what the SEC and DOJ have already presented.
Big Lug
So if SPNG said they had 33 million in sales for the first 9 months of their fiscal year the SEC is saying they only had 198 thousand.
Big Lug
The question could be... have they had any sales since 2/28/09?
Big Lug
The BOP will assign him anywhere in the US they want to fit him into an existing Medium security prison with the available bed (they are virtually all over capacity). He goes to El Reno
, OK first for about a month, then he can get sent anywhere.
My guess his answer is "Yep"
My guess is the email in on auto response and has been for the last year.
Big Lug
Leucro,
Let me know what USAA says. I've been a member since 1989.
Big Lug
Why did Sponge order the material in the first place? Did they totally misjudge the market for their sponges? This part doesn't make sense for the scam. I can see ordering sponges from Dicon to keep them quiet, but why order the sponges from China?
Big Lug
Stuff that came in from China (Taikone/Dicon) that was shipped to retailers and was returned UNSOLD by the retailers needs to be stored somewhere. They're not going to ship it back to China - as they are broke - much cheaper just to rent another warehouse to store the 500+ (at last estimate) PALLETS of returned sponges that were/are shipped back from retailers to Dicon (even though most came originally from China).
For everyone that got stuck someone else got unstuck. And such is life. M&M might have ripped off the investing public, but that dollar amount is small compared to the great transfer of wealth between investors and traders. Lot's of people made money on this scam. Not just M&M
Big Lug
Won't the trading completely shut down? I know Etrade has shutdown trading on SPNG
Big Lug
How can there be massive amounts of pallets returned? I thought the Dicon rep said they didn't hardly produced anything for SpongeTech
Big Lug
I thought all the sponge shares out there were legit? It may have taken forged opinion letters to remove the restriction to get them into the market, but they are still real shares right? We're not looking at the potential for more than 3 billions shares floating around out there, or are we?
Big Lug
Wadi,
To Mosky "soon" is a matter of perspective
Hopefully the judge at his sentencing has a good sence of humor, so when Mosky asks him how long before I get out of prison the judge will simply answer "soon"
Big Lug
OT,
Send him the email about the DTC
Big Lug
Lord forgive me but I hope they get all of that and them some
Hating is not good for the soul, so I'll say goodbye to this topic
Big Lug