Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
GG, but most of the buying pressure and stock movement was when we saw BMAS grabbing shares... I could be wrong... I am not holding my biggest position and I love the company, I hope the company starts applying its power of success towards the stock.... they've proved they can take a year of sales of 5million and a year later grow 800% and we aren't done with the upgraded guidance in my opinion.... they need to learn how to get their stock in order... I know they have a plan...but it should take this long.... maybe they want more shares..LOL..
Maybe I am crazy... but PR.. we've bought 50million from tradable share... tradable float is 100million... we have proof the stock is being NSS'd.... we also bought back 200 RME shares and plan on buying them back monthly....
EOM.... that would start a squeeze in my opinion...
Is it just me, or is everything stacked against the longs? How on earth can BMAS buy as many shares as they have? How can Doug file 41million shares... and our counts be as high as they are and the stock fall...LOL... is there an end to this maddness... I am long...but if the NSS's just keep selling... when does this end? anyone? Quite amazing...
Real good GG....
Strong volume like yesterday and we can bust through that quickly.... had volume been weak coming into that level, I would agree.... but something feels different on this move up.. just my gut feeling... imo..
tturner, micro is one of my friends and our group has a lot of shares... and he watches bmas very closely... i would believe his number with regards to bmas
wadi, well, I for one picked up more shares today. so yes, i would agree longs are still accumulating...
if you buy a Porsche for the price of a VW, sure you could double your money easily.... why not wait for the right buyer and make 50 times your money?
.25 cents... that would be ashame... 50cents would be fair value without a squeeze.... that's the problem with NSS'ing, they break the longs into thinking 25 cents is good... not that it is bad, but certainly not fair value for a company that signed a Viacom/Nick deal and having great y.o.y success like SPNG is having with more products to come.... oh well...
I have heard the 150million NSS too... fyi...
I am waiting...but will buy sometime today... never like to trade in the morning... unless the price is real attractive..
I will be buying more today... I'll join the fun....
Crashman, Here is a piece from a PR spongetech issued, maybe you missed it....
As the Company continues to build off of a great 2008 year, we feel it is important to update our shareholders on events that are taking place within the Company and comment on the recent trading activity of our stock.
Management believes that our stock has been influenced by the illegal practice of "naked short selling". These people, or entities, are trying to undermine the shareholders' confidence in our Company, trying to induce you to sell your stock, and, in simple terms, hoping that if you do they will be able to buy back their short position sale at a significantly lower price. They use detailed and complicated systems, and even sell from overseas through other exchanges, to sell nonexistent shares all day long trying to create a disparity between legitimate buy and sell orders.
These unscrupulous entities strategize to create stock price erosion in an effort to try to force us to continue to dilute the Company to raise funds. As you know, we have invested significant money into our Company and hold a large position in stock that is not registered and cannot be sold.
----------------------------------------------------
Either the company is lying in a PR, or there is a illegal shorting problem, the numbers you listed are legal shorts, I dont think legal shorting is the problem, but the illegal... as the company stated in the PR...
so, right now, the shorts do not believe management is legit, so they continue to sell... that's the overall general feeling from the longs? I realize that once the shorts start to cover, the stock is going to fly... until then, the stock will go down unless there is buying pressure from BMAS and other longs.... I see I hunb box we are looking for 3 more announcements. My assumption would be that another Form 13 will be filed, if one believes Doug/ that group has 100 million shares, with that said, with another Form 13 filed for say another 41million shares. Does anyone believe that will do anything for the stock other than put the shorts on notice for what they already know?
They know how deep they are... All of the longs speculate how deep they are... Form 13's really only expose the shorts positions to other longs, and if the shorts read the boards, or managements PR's don't they already know most longs believe they are deep?
So, two form 13's for a total of 82 million, and then management files the buyback is complete for 50million.
What does that do for us longs other than reiterate what we already know and what the shorts already know?
I ask these questions because I am heavily invested in a penny stock, one can do their DD on the company, the product, the sales, marketing strategy, but I have never bought into a stock, let alone a penny stock that's has a potential 3 times the float naked/fake shares.
I question why the selling pressure is so high? Are the shorts really that stupid? Why would they not cut their losses at some point? Even if they are only 100 shares deep, unlikely, based on what I have read, why take it to 200?
Why after the viacom announcement, do they take the stock down from .033 intraday, down to a low of .018 ish?
I am a believer in this company, but still trying to understand the stock...Heck, I have my entire family and many friends in this stock for well over 2million plus shares..
serious question for strong longs... I am strong long, haven't been here as long as some of you... I am having trouble understanding one thing... how can there still be this much selling pressure on the stock? It would appear only BMAS can try and push through the wall of sells... and this is daily for the most part..
Is it the policy of shorts to just continue to flood the market with fake shares, forever and forever?
if they are 100,000,000 to 300,000,000 deep, could they go 400,000,000 to 500,000,000 deep? What happens when BMAS runs out of money?
I realize no one believes BMAS is selling only buying, are the shorts really that stupid? They can do the math?
Has anyone seen stock shorted 3x times the float and the outcome, I personally have not...
I am a strong long, infact, just dropped off another check to scottrade to get my final position... but i am curious of your thoughts....
FYI, I believe the shorts know the game is over, but we should do our part to push them along... they started this, we finish it.... in my opinion... management is on our side... helping!
Start a short squeeze.... Very easy at this point.... if all 2300 investors bought 25,000 shares... that would be roughly 57million shares.... hahahahahha... can you afford? $675.00?
Fyi, my friends and family will be continuing to help push us along... at a higher buy rate than 675.00:)
If BMAS has roughly 50million, and company is not BMAS and has roughly 50million... I would say another 50million would state to the shorts, the game is over..... Just my opinion....
COO, Steven Moskowitz adds, "The management is committed and prepared to support any and all permissible actions to maintain the fundamental value of our common stock."
Have a nice day in Spongeland:)
dollarandsense, all of the above...sounds good to me.... Good morning... would be a great way to close the week...
Not too mention the PR today about 5million, Ace, Buyback, and I am sure there is more to come... and that should do wonders for clarification and investor confidence....:)
Good Morning Spng longs...
good PR keeps investors up to date...Not just bringing on new investors. Annoucing deals with Viacom/Nick are things current shareholders would like to know, as well as rasied guidance, and results from SEMA and other things the company is doing to grow operations.
Really, they need to be fired... if that's the case... not doing a very good job pumping this one up.... I guess they better go back and do what they are good at, selling sponges and stop paying for stock promotion... Viacom/Nick should be good sales, don't you agree Crashman... or is that a fake deal with a fake cartoon and a fake network?
Growth... better question to ask, why is company providing themselves most of their financing with personal money through restricted shares? Why wouldn't they just dilute like most companies do? Or if there is a extreme short position. Why not sell the shorts shares if they need money. I have talked to Bill Young on the phone and he said shorts have come to SPNG and offered to buy shares from them... Why wont the company sell them shares for money? Answer those questions, and that might be a sign to buy as many SPNG shares as possible..
Better question, if this was a scam, they are really trying to sell it, Howard Stern, Nascar, Sports Teams, D.S. foundation, many info style commercials with various products. Once again, if it was a scam, why finance your own growth of a scam.... why would you invest a dime into your scam? Oh yeah, they fooled Viacom/Nick... LOL
that was a block trade at .025. My friend grabbed it.. FYI, he was waiting for a big block, he figured had he just opened a limit order for that 2million, they would have kept bumping it up as it filled so he pulled the trigger on a block trade..
I just got my dad into SPNG today, his final order hasn't filled yet, but you when it does, he will have 400,000 shares, if you want to add that to the total...
It did fill... thanks:)... add that to the list:)... LOL... not much, but slowly accumulating more...
tried picking up 200k at .0195, only 95k filled... well wait for the rest:)
Jim's cost average is .034... I would be curious what the cost average was on the 50 million plus shares we own... I would think that would be an interesting number to say the least...
"we have a board member with a cat and said works good."
So it even cleans the PU$$Ycat.... I am going in for more shares.
I hear turner... just hard for me to believe anyone is selling... seriously, when you look at everything, why sell this one out of your portfolio????? you claim we may get a 100 bagger, you telling me other people have all their eggs in one basket or other stocks they are holding have a 100 bagger potential...if so...direct me to the other stocks so I can buy some of those....LOL... everything looks good other than the fact the stock goes in the wrong direction... and low float? we are saying there is no float, I don't know, and I don't care... my dad was going to get a position today and he's now on the fence, because, A, its a penny stock, B, the stock price keeps going down... who knows, I even told him, even with my position, he might want to stay on the sidelines... worse that could happen is the stock starts to move up.. and he can hop in on some positive momentum, plus if it hits, I have enough shares if he can't get in, I'll hook him up...LOL.
It suggests people are selling the stock since they are underwater? Seriously, I am long and strong, we've had a bunch of RED days in a row and are down 60% since the Viacom deal... LOL... That is amazing regardless of what side you are on.... regardless, I will be picking up more shares this week if the price stays under .02 cents... just hard to believe we are at this level and who is selling?
yes, but they are hurting themselves by allowing the price to stay so low in my opinion.... they are giving the shorts/bashers power through the idea of dilution.... if the price was higher, less shares would be issued via RME...
Just a thought.... because if there are over 1 billion after next quarterly report... we will have to listen to that drum for another 3 months.... just tired of that drum... its boring.
based on everything I have heard... there are no cert's avail. If company has bought back 50million and didn't use BMAS, and BMAS has 50million, I'd say most of all the cert's are locked up... just my opinion....
Just wish SPNG management would move forward now that Doug filed where 41million shares lie.... now management needs to disclose where another 50 million lie, and BMAS needs to disclose where another 50million lie.... and management needs to state publicly what the tradable float is...
it would bring back longs confidence to buy more.... One might wonder if the company is allowing the stock to come down to pick up more shares and if weak longs sell to them they are ok with that..... Just a thought.... if they know they are sitting on a winner, why not let the stock fall... they have atty's telling them, we will get this PPS worked out, once we call every short out through a PR.... fyi, let the stock drop and tell your close friends and family to buy, but don't announce anything to the public....
Not this is just my speculation/opinion... but the only people that don't worry about a PPS are the ones who know they are guaranteed a huge return when they call out the winning lottery ticket aka, we trapped the shorts, locked the float and are taking you to the cleaners...
Who knows....
the funny thing is that no one can be up in SPNG...LOL... seriously... who could possibly be sellig for a profit right here....LOL... too funny and if you believe everything you read, people are buying more.... somthing seems strange.. no doubt about it....
I am bit suprised how management does not care what the PPS is right now...LOL... even they can't be making squat on these shares if they were diluting... think about it...
At least with a pump and dump, you get a stock that climbs... chart this thing and it doesn't even qualify as a pump and dump...
Just a dump and dump...lol... they spend all this time locking in a deal like viacom/nick, and they let the stock fall 60% from the announcement, I think it even closed down the day of the announcement....
Management just doesn't seem to care...
On a lighter note, Steve sent me an email stating they are going to start working on the PPS... so maybe some good stuff will be coming soon...
alfie stated today his cost average was appx. .025, just an fyi, believe it or not....
I've read a lot, and I have talked to many people and I heard several theories, only time will tell... I have a lot invested in this one... and if she hits, life will be a lot easier, if she doesn't, I guess I will have to work a little while longer...hahahahaha... if you are not willing to take a risk, you'll never get the reward....
yes... it is quite amazing... who knows.. the position I own is well over 1.5 million but that doesn't compare to the money some of my friends are buying up... I was thinking about dropping some more money off at scottrade and getting my count well over 2 million... LOL.. who knows..
Pretty crazy you can buy 1 million shares that cheap... but oh well, right...
MY BUDDY JUST PICKED UP ANOTHER MILLION IN A SPLIT BUY....fyi, ADD THOSE TO THE COUNT!!!!!!!!!!
tell people about spng... I have personally got more than 10 investors to hop on the spng train.... the more people you tell, the bigger the shorts have to dig.... I will never sit on a winner, I tell everyone I know to hop on... spread the good word...
geemoney, did you take any pictures of the booth?