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JL,
Equities and emotions don't mix.
Always a matter of a risk/reward call.
Never any different.
I'm not the enemy.
Simply a realist. Telling it like it is. That which fits. Which best fits.
My hosting precious little interest in sitting idly by while management, in a fervent attempt to crawl out from under, ignores certain and specific fiduciary duties.
If such is, in actuality, what's going on.
Better by far for management to officially step aside. Allowing others to take their places. The free flow of information/detail. An end to the delinquent filings situation.
With my earlier rhetorically asking…
"And just and exactly how entwined is all of it in light of management battling, so obviously, to remain at the helm?"
There's been wrongdoing. That much being obvious. And a matter of company legal and accounting legitimately advising no need of a registration statement(s) being filed? Or a tad more nefarious goings-on as overall circumstance would dictate? And how about the distribution in full? What there?
My personal perspective at this point being that management is in self-preservation mode. All else being secondary.
My personal take of the situation.
The reason why the lengthy delinquent filings situation.
And our good friend Karmasaur asks a good question. Makes an interesting point in so doing. It just might be the case that 'evil' invited 'evil'. That in the 'end' we'll see Mr. Metter forging ahead in the absence of his alter ego.
None of us able to say for sure.
What IS graven in stone is payday as talked about. The rich ROI that the faithful longs have long sought. And based on nothing less substantive than the empirical as talked about. There for all to see. No argument.
Our having long ago discussed, for one, the Wal-Mart situation. The expectation of many months passing before the relevant chain of supply was fully implemented. Close thereto.
Management not just talking the talk but walking the walk. Getting the job done. Business plan and model implementation success.
And not empty revenues but revenues of worth. Bottom line success. From startup/development stage to fully operating status.
A truly stellar achievement!
Kudos in the absolute.
And, so, why then the violative?
Why the big guns on the scene?
What was there to be gained in light of issuing company fundamental and operational soundness? Staggering growth/expansion rate?
And we've discussed much of it. Posed the called-for questions. Seeking answers.
And now a matter of self-preservation mode?
It being in no one's best interest, issuing company inclusive, for management to indefinitely prolong the delinquent filings situation based on purely selfish reasons.
If there is serious culpability then management need step aside. Allowing others to step in. To take over the steering of the ship.
And has the stage been set for just such an eventuality? As has been suggested by no shortage of parties among us?
Or has it all been nothing more sinister than one sincere interpretation of SEC rules/regs. vs. another such?
And if so?
Well, why again the big guns on the scene?
And there I'll, once again, leave it.
Hopeful that thinking and actions along the lines of 'the greater good' will prevail.
CJ,
Negatory.
Were I referencing those you speak of I would've applied the usual. A phrase, that is, such as 'greatest detractors' or 'myriad naysayers'. The 'opposing side' comment referencing the regulatory and the litigious, etc. My expectation being that the more agile-minded among us would be able to follow the bouncing ball. The use of the word "opposing" and the application of single quotation marks.
As for management?
Having done a stellar job. No argument. Issuing company fundamental and operational realities. Bearing in mind, once again, that of the past, present and future it's the future that counts. The forward periods picture. Projections and guidance.
An ever-strengthening picture for The Smarter Sponge Company. That which will draw in the big money.
None of us able to say just and exactly why management stepped out of line. Engaging in the violative. Drawing regulatory attention. And there may well have been original intent to, so to speak, bend the rules to one's own advantage. But in light of ongoing company business plan and model implementation hugely proving up?
We can't say just and exactly what went on. Nor why. What we can say is that the empirical is very much there. The company's myriad products out in the market place being more than well-received. Ever-mounting raw numbers picture. Wholly to smile about and then some.
Additionally, we have the Wells notices. A matter, very seemingly, of issuances of unregistered securities. Full distribution of same. Of 'forged' opinion letters and a phone call from Mr. Moskowitz to one Joel Pensley. Talk of "spinoffs of shares". Additional talk of securities-based 'compensation'. Mr. Metter seemingly having distanced himself from RM Enterprises thereafter. Denial of any official connection(s). Director. Officer. So on.
A matter of connecting those proverbial dots.
Not exactly rocket science.
As for the extent of the violative?
Myself and our good friend Karmasaur having entertained a recent wee bit of number crunching on the subject. An outcome in the 150m shares area being likely. A significant sum even at a modest price of $0.10 per share as an example.
Plus we have the, again, criminal appeals to the inside. The most recent of which, that we know of, being the call for a 300m long position priced at $0.03 per share. A cool $9m up for grabs with no taker(s). Telling us much.
Our knowing well that management is of the stand up and fight ilk. But again for how long do we, the faithful longs, remain patient? The battle afoot for how long?
The violative that we reference isn't, extremely obviously, of a generally dismissive nature. We're very much talking serious. Serious enough to possibly see a new management team in place eventually.
And, earlier, we spoke of persistence to the point of mindless self-defeat. Talking about the coming financials and the regaining of the OTCBB quotation. That management, that is, would persist in their ongoing attempt to see a return to OTCBB status prior to the opening in full of the info./detail floodgates. But not a matter of persistence to the point of mindless self-defeat.
And now we have the violative. The ongoing battle. And for how long? Mindless self-defeat?
Management needing to proceed in the best interest of the issuing company and its shareholder base. If there's no avoiding the worst for themselves they need do what's right. Relinquishing the helm to others.
We, none of us, have the answers. No. But the retaining of the big guns does speak volumes. Saying all same has to/needs to.
Not rocket science.
As for why, again, the violative?
All we can say is that from day one we've been well aware of the steadfast intent to maintain the parent company as debt free. Well aware of application of equity in so achieving. The relevant filings being there for all to see.
The Wells notices having made no direct mention of the fraudulent. Of a call for a lawsuit(s) being launched. Of the criminal. Of disgorgement. So on. Telling us much. But serious all the same as reasoned. Not dismissible. Possibly resulting in an eventual resignation or two. Being barred. Management hosting certain telling professional histories as we well know.
And now The Smarter Sponge Company it is. A budding global empire. Fundamental and operational gold mine. Cash cow. A staggering rate of growth/expansion. Management doubtless wishful of their having never stepped out of line. Having been taken by surprise as per Susan at company IR.
Plus we have the matter of abusive shorting goings-on. Our wondering just what associated pressure(s), if any, our regulatory friends will bring eventually to bear.
Patiently waiting.
The whole of it leaving us where we are.
Latest formal word telling us…
'The Company is working diligently to complete its financial reports required to file with the U.S. Securities and Exchange Commission.'
'The Company will continue to update its shareholders of progress.'
The coming financials poised to go a truly long way in many more ways than one. Being mindful of the fact that same largely represent historical data. It being, again, the future that counts. That which always feeds that proverbial bulldog. Projections and guidance. The forward periods earnings picture. Inviting the buy-side. The big money.
Our looking for period-over-period improvement/advancement. Not miracles. Seeking quality earnings. RM Enterprises fading from the picture. Self-sustaining cash flows from operations. Growth/expansion capital needs being a separate and distinct matter. So on.
And just and exactly how entwined is all of it in light of management battling, so obviously, to remain at the helm?
Well, nothing to do but hurry up and wait.
Hopeful that additional formal word does routinely emerge.
Filling in the blanks.
All the best to you and all others.
Trying not to overindulge in the 'sweet stuff'.
BL,
Thank you.
As for that other matter…
Any particular reason as to why?
Or just the usual venue madness?
Mike...
Perhaps you recall some of my postings from the July '09 area.
And an example…
"The period over which the shorts did reign supreme having also seen the buy-side. But in the form of low-ball orders. That which didn't much help any but the shorts. And, so, small wonder why the trading pattern of the time. With now a far different story in welcome evidence. The steady understandable hitting of the Inside Ask. No more low-balling. The shorts no longer reigning supreme. Our registered MM's motivated to profit from a long perspective. The advent of a breakout being very real."
One reaping what one sows.
Low-ball Buy orders yielding the expected outcome.
None of it amounting to rocket science.
Never does.
Karmasaur…
We'll start with the fact that managerial intent as of July 27/'09 was to reduce the Authorized common count to 900m and the Outstanding count to the 500m area. The primary means of doing so being a combination of open market buyback and RM Enterprises holdings cancelations.
And from the, let's say, 1.75b level the stated targets seem achievable?
Even allowing for a targeted farfetched 1b restricted shares held by RM Enterprises and minimalist average trading levels of $0.05 we're still talking approx. $12.5m being required to achieve the Outstanding count target.
And recalling…
'Subsequent to the date of the financial statements, the Company cancelled an aggregate of 526,585,544 shares of common stock. The shares originated from the repurchase of common stock of RM Enterprises. This reduces the number of outstanding shares of common stock from 1,249,451,605to 722,866,061 shares.'
The numbers, as stated, simply don't add up. Not with respect to that which you again "believe".
The only way around it all is to ludicrously suggest that materially misleading PR's and filings, etc. absolutely abound. That management would mind-bendingly opt for criminal personal enrichment, and the myriad associated serious risks, vs. proceeding in line with a legitimate virtual gold mine having emerged. Right in their very laps.
And recalling…
(Susan at company IR)
(Mid-July of '09)
(Paraphrasing)
'They haven't reduced as of now and maybe in the future they'll continue to but right now their focus is on expanding the co that is exploding way above anyone's expectation.'
[ way above anyone's expectation ]
Noting, again, that in the matter of the Wells notices there is no mention of the materially misleading, of a retraction(s) being called for, of disgorgement, of a lawsuit(s) being launched. So on.
The bottom line being that in the matter of the 'forged' opinion letters we have that which has been reasoned. A viable attempt at an answer. Just and exactly where the violative arose. Our not knowing the precise detail. But entirely able to reason as we have. Generalizing. Inclusive of the extremely strong likelihood, as evinced, that the full extent of any distribution was, in relative terms, minor.
Perhaps 150m shares at the most.
It being a matter of reasoning. As opposed to known fact.
We wait.
We find out.
Just and exactly what went on and why. And what's been/being/to be done about it.
Jason…
Full agreement.
Noting, additionally, the point of operations. The need, that is, of scaled up production capacity in order to meet ever-growing demand. And what does such suggest relative to the month-over-month raw numbers picture? Record after record being set?
And recalling from June 29/'09…
'SPNG … is pleased to announced that the Company has booked approximately $18 million in new orders for the entire month of June. This is SpongeTech®’s highest recorded monthly booked orders in the Company’s history.'
'We are experiencing an incredible response to all of our products and we continue to increase our national retail footprint daily. We anticipate additional new products to come on line and we strongly believe that our sales growth will continue at this pace.'
[ We are experiencing an incredible response to all of our products ]
And fact?
Or fiction?
[ we continue to increase our national retail footprint daily ]
And fact?
Or fiction?
[ We anticipate additional new products to come on line ]
And fact?
Or fiction?
[ we strongly believe that our sales growth will continue at this pace ]
And fact?
Or fiction?
From June 29/'09.
With now a need of scaled up production capacity in order to meet ever-growing demand.
Einstein needing to not apply. Not even slightly. A management team getting the job done.
Walking the walk.
And most assuredly there have been bumps in the road. The peanut gallery crowd hard at work accordingly. Twisting madly. Spinning wildly. The comic relief rest of it.
An investment in America's Cleaning Company amounting to a golden ground floor opportunity. Institutional level monies waiting to flood in.
Market level soaring!
Massive ROI.
The plain and simple reality.
Seen as clearly by Daniel Pike as by all the rest of the triple digit IQ's among us.
Holding tight.
Thank you.
And a repost...
Karmasaur,
Over the years that I've been actively involved in the flighty world of equities I've read more false claims of rampant insider abuses than I care to remember.
Wholly misguided individuals running off at the mouth. Spouting utter nonsense.
The plain and simple fact being that, statistically, the number of startup/development stage public companies launched as deliberate scams is extremely small. Far and away we're talking about management teams delivering an earnest, concerted effort to bring value to shareholders. It being simply the case that we're talking about a very tough row to hoe. Taking a startup/development stage outfit to fully operating status. The reason behind the OTC typical.
Why, so often, a matter of massive shareholders' deficit. An asset base coming in concert with massive debt load and even more massive dilution. Empty revenues. Negative cash flows. Unrelenting cash burn. Period-over-period net losses. Massive loss carryovers often well in advance of $25m. Multi-year histories with no sign of worthwhile operations having been achieved.
A tough row to hoe. Precious little of it deliberately orchestrated. The whole idea behind a public start being the routine application of equity. The raising of needed capital both operating and growth/expansion. The OTC being rife with parasites only too willing to fork over boatloads of needed capital. But capital based on associated rights of convertibility. Freely tradable common stock issuances. Parasites intent upon helping no one but themselves. Toxic financings routine.
Right here our knowing well that, at the time of the operational refocusing on product development, the successful securing of a bank loan on favorable terms simply wasn't doable. Company fundamentals just weren't there. Our being fortunate enough to have RM Enterprises to lean on. No being forced to go the toxic route in achieving all that's been achieved to date. Both fundamentally and operationally.
While as for those statistically few outfits set up as deliberate scams? Insiders being in it for themselves? Fiduciary duties be damned!?
Well, one of the most prolific means of routine abuse was perpetrated via Form S-8 registrations. The setting up of a lucrative feedback loop between friends and relatives of insiders -- individuals positioned as 'consultants' and employees and such -- and the inside. Securities issued and liquidated in the open market. The majority of the resultant proceeds making their way back inside.
None of which is in evidence right here. At no time.
Noting that such abuses have been largely stemmed at this juncture courtesy of the adoption of certain new rules/regs. and amendments otherwise by the SEC.
The point being that SPNG management is perpetrating no form of deliberate abuse(s) along the lines of personal enrichment, of ill-gotten gain, goings-on. No deliberate scamming of those proverbial unwashed masses. Any such amounting to sheer insanity as talked about given the big picture. Ever-mounting raw numbers picture. Etc. Our Dicon subsidiary inclusive.
What we do have is the earlier 'forged' opinion letters bit of business. A situation, at the time, that stood as not only debatable in and of itself but, even if factual, it not necessarily being the case that the underlying securities issuance(s) was/were of a rules/regs. violative nature. Not necessarily non-exempt from registration provisions.
And then arriving the Wells notices. Directed as they were. Alleging as they have. Suggestive of violative findings. And breaking it all down we, as faithful longs, seek to uncover the facts. Yours truly, for one, having looked at the situation from every conceivable angle. Seeking answers.
The most logical of same being as outlined. The references per the '33 Act. Sections 5(a), 5(c) and 17(a). Which together, in essence, relate to two primary considerations. The first of such being the exemption(s) from registration provisions consideration. The second being the direction(s) of distribution of the underlying securities.
Two primary considerations...
1_
Securities that are freely tradable in the open market i.e., no restrictive legend(s) attached.
2_
Direction(s) of issuance(s) of those securities i.e., distribution.
The involved task force alleging that there was/were no legitimate exemption(s) from registration provisions. With, again, the relevant filing hosting no mention of the targeted parties being in disagreement to any degree with the therein recommendation.
The bottom line being that the talked about 'forged' opinion letters played a role and that settled enforcement will amount to the typical of permanently enjoining the involved from further violations of a similar nature combined with penalties of a monetary nature.
And were it a matter of personal enrichment -- of ill-gotten gain, of the egregiously fraudulent, of the criminal, of a deliberately orchestrated scam, so on -- there would be a recommendation accordingly. Inclusive of a call for the launching of a lawsuit(s). So on.
And from the relevant filing we have...
'SpongeTech does not anticipate any material interruption in its business operations by virtue of the Wells notices or any action(s) that may be brought by the Commission.'
And because...
1_
We're talking management and not the issuing company itself.
2_
We're talking minor/run-of-the-mill violative behaviors.
Just and exactly how the allegations and resultant recommendation pan out when all is said and done we'll find out. And, again, directly from the SEC's Division of Enforcement.
Or not.
Depending.
We shall see.
Stephen…
You're welcome.
While bearing in mind that the matter of the opening of the info./detail floodgates isn't all a voluntary consideration. There being also a matter of regulatory involvement.
A tad entwined.
With a horde of naysayers entirely at liberty to post as they see fit. Whatever the associated 'reasoning'. With none of it mattering.
The undeniable being in the offing.
Massive gross undervaluation circumstance made glaringly plain. For all to see. Latest share structure circumstance factored in.
Nowhere to go but up.
The reality.
And massively so!
Patience being a virtue.
Just ask Daniel Pike.
Taking care.
PM,
No.
Not going to happen.
A 100% buyout of America's Cleaning Company, at this juncture, being a massively expensive endeavor. Not coming cheap.
Do the math, as an example, at just $0.50 per common share outstanding. An Outstanding count of 500m as an example.
That which you ask about would be counterproductive. Making no fundamental sense whatsoever. And, certainly, were any such to transpire we'd be talking a merger and not an acquisition.
The reasoning being obvious.
We'll see what happens as regards the advent of the MOASS once the coming breakout emerges. Once market level starts to far exceed our interim High of $0.2851.
The advent of the MOASS won't exactly be a difficult read.
Dollar$ no end.
And you're welcome.
Karmasaur...
The identity(ies) of any/all recipients of the securities in question is a definite unknown. As is the full extent of the distribution. What does add up though is that said distribution, in relative terms, is minor and that liquidation via the open market has long since transpired. No actual disgorgement being likely. Though there could come a call for management to pay a civil penalty(ies) specific to the monies involved.
As for that which you "believe"?
A need of bearing in mind that the 'forged' opinion letters goings-on dates back to May of last year and earlier.
And we have from July 27, 2009...
--------------------
SPNG ... is pleased to announce that the Company is taking action to amend its Articles of Incorporation to reduce the number of common shares that the Company has authorized to 900,000,000 (nine hundred million) shares. In addition, the Company has also begun the process to lower its outstanding shares to approximately 500,000,000 (five hundred million) shares.
As reported in the Company's 8-K filing on May 26, 2009, SpongeTech® amended its Certificate of Incorporation to increase its authorized common shares from 1,800,000,000 (one billion, eight hundred million) to 2,000,000,000 (two billion). The increase was to provide the Company with the ability to pursue a transaction such as the acquisition of Dicon Technologies. Subsequently, the Board of Directors had approved the acquisition of Dicon Technologies which was completed on July 9, 2009 as a cash transaction, without any shares to be issued for the acquisition and without any dilution to its current shareholders; therefore enabling the Company to take action and reduce the authorized shares substantially. Furthermore, as reported in the Company's 3rd Quarter Form 10-Q filing on April 20, 2009, SpongeTech® had 722,866,061 shares of common stock issued and outstanding and the Company is also taking action to lower its outstanding shares by 30%. The Company's actions in this regards will include the continuation of the common stock repurchase and retirement program from the open market as well as the retiring of restricted (144R) shares of common stock currently owned by the Company and its affiliates.
--------------------
It being necessary that the numbers add up. That which you again "believe" simply not fitting. Not given the above stated intent, and means, of the time. Realizing, again, that the referenced recommendation makes no direct mention of any materially misleading PR's and such.
As for "other companies"?
There being no shortage of examples if you're willing…
http://www.sec.gov/divisions/enforce.shtml
And we'll take Universal Express (USXP) as an example…
--------------------
The Commission's action seeks a temporary restraining order and order for accounting against Universal, Altomare, and Gunderson for the ongoing securities registration violations. The Commission is also seeking preliminary injunctive relief against all defendants. The Commission's action alleged that Universal, Altomare, Gunderson, Neuhaus, and Sandhu violated 17(a) of the Securities Act of 1933 and Section 10(b) of the Exchange Act and Rule 10b-5 thereunder; that Universal, Altomare, Gunderson, and each of the Resellers violated Sections 5(a) and 5(c) of the Securities Act; that Universal violated Section 13(a) and 13(b)(2) of the Exchange Act and Rules 12b-20, 13a-1, and 13a-13 thereunder; that Altomare and Gunderson aided and abetted such violations; that Altomare and Gunderson violated Section 13(b)(5) of the Exchange Act and Rule 13b2-1 thereunder; and that Altomare violated Rules 13a-14 and 13b2-2 under the Exchange Act.
--------------------
Our talking some truly egregious violative behaviors in the overall.
While as for remedy sought by the SEC we have…
--------------------
WHEREFORE, the Commission respectfully requests that the Court:
I.
Find that the defendants committed the violations alleged.
II.
Enter a Temporary Restraining in a form consistent with Rule 65(d) of the Federal Rules of Civil Procedure, enjoining Universal, Altomare and Gunderson, from violating, directly or indirectly, Sections 5(a) or 5(c) of the Securities Act.
III.
Enter a Preliminary Injunction, and a Permanent Injunction, in a form consistent with Rule 65 (d) of the Federal Rules of Civil Procedure, enjoining all defendants from violating, directly or indirectly, each of the provisions of law and rules alleged in this complaint.
IV.
Order that each of the defendants disgorge all ill-gotten gains, including pre-judgment and post-judgment interest, resulting from the violations alleged herein.
V.
Order all defendants to pay third tier civil penalties pursuant to Section 20(d) of the Securities Act and Section 21(d)(3) of the Exchange Act in an amount to be determined by the Court.
VI.
Order that all defendants except Universal be barred from participating in an offering of penny stock pursuant to Section 20(g) of the Securities Act and Section 21(d)(6) of the Exchange Act.
VII.
Order that Universal and Altomare provide an accounting to the Commission itemizing all monies or anything of value they received, directly or indirectly, from the re-sellers and all other persons or entities who received Universal stock since January 1, 2000 to the present and anything of value received, directly or indirectly by Altomare or any member of his immediate family from Universal since January 1, 2000.
VIII.
Order that Altomare be barred from acting as an officer or director of any issuer that has a class of securities registered pursuant to Section 12 of the Exchange Act or that is required to file reports pursuant to Section 15(d) of the Exchange Act, pursuant to Section 20(e) of the Securities Act and Section 21(d)(2) of the Exchange Act and the Court's equitable powers.
IX.
Grant such other relief as this Court may deem just or appropriate.
--------------------
You can read about the full complaint here...
http://www.sec.gov/litigation/complaints/comp18636.htm
A little putting things in perspective.
The USXP goings-on in the overall having been a world different than that which SPNG is experiencing.
Onward and upward.
KLee, et al.,
Most assuredly.
Ongoing understandable accumulation.
And looking at a two-month chart one readily notes that there have been only two occasions on which money flow has made a foray into negative territory. And only very briefly so...
http://stockcharts.com/h-sc/ui?s=SPNG&p=D&yr=0&mn=2&dy=0&id=p30332899580
The rapid ascents back to positive territory spelling out that which the faithful longs seek i.e., the advent of a breakout. The right spark/catalyst in evidence and truly serious green will emerge in the absolute. The reality of the graphical. Overall sentiment. The stage set for the truly massive upside.
The unknown factor being OTCBB status. Whether the FINRA OTC Compliance Unit is willing to listen to reason as talked about. Management being hard at work attempting to reestablish a fitting trading venue for us. And if no-go? Well, again, the opening of the info./detail floodgates under current trading venue circumstance will see a massive breakout precipitated complete with understandable follow-through. Institutional level involvement simply being not as far-reaching as would be the case were the OTCBB the trading venue reality.
As for the prospect of the MOASS?
What's most salient is the fact of there being no longer a window of opportunity to seriously impact the gullible. The undeniable emerged in full. The truth untwisted. The fact of no chance of a repeat of the June ugliness. No chance of, once again, stopping the relentless upside in its tracks. Precipitating a significant retrace. The beauty of the situation. Factoring in, of course, potential regulatory involvement on the issue. Abusive shorting goings-on. Massive phantom float. Detail remaining to be seen.
Once our coming breakout is in evidence there will be no looking back. Not as previously. Last chance situation for criminal entities to buy-in at lowest possible cost as management gets on with building a very real company. Global reality. Our Dicon subsidiary inclusive. All that's happening there.
Onward and upward.
No looking back!
A long tough road it's been for sure. But a matter, in the absolute, of a long wait well worth it. Myself, and no shortage of clear-thinking others, more than a little grateful for the opportunity to load up at lowest possible cost. Holding large. Far larger than would have been possible under circumstances of average trading levels of $0.20 to $0.2851 as an example.
And, so, thank you for that.
Naysayer bliss!
Kelly…
Admittedly there are a number of those among us routinely displaying an unfortunate degree of childishness, and worse, but also others routinely imparting a great deal of wisdom and knowledge in general to the board. Adding value. Advancing clear-thinking.
With a need, again, of bearing in mind that the filing hosted no mention, to any degree, of the targeted parties being in disagreement, to any degree, with the therein stated recommendation. No small consideration.
And from that filing we have…
'The Wells notices advised that the Commission Staff intends to recommend that the Commission bring civil injunctive actions against them alleging violations of the federal securities laws contained in Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933'
[ Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933 ]
This being where the forged opinion letters bit of business comes in. That which ties into the relevant Sections of the '34 Act. From restrictive legends to freely tradable status or otherwise securities issuances 'opined' to be free from registration provisions. And we're not talking a matter of personal enrichment, of ill-gotten gain, but rather, a matter of company business plan and model implementation advancement. With it being likely that Mr. Moskowitz is more directly involved than is Mr. Metter.
There having been wrongdoing. Only a fool arguing that much. But wrongdoing amounting to that which calls for nothing more than the enforcement typical of permanently enjoining the involved parties from further violations of a similar nature combined with penalties of a monetary nature.
While, as for additional considerations, we have the fact again of, historically, the Commission only ever having taken actual enforcement action in half of the instances in which its staff recommends that action be taken. Though, having said that, there is the talked about settlement having seemingly been arrived at. The ongoing private side chatter. We shall see.
Additionally, a need of considering the separation between the targeted parties and the company itself. The post-suspension trading resumption, as per original intent, coupled with the Wells notice detail unequivocally delineating the fact of issuing company fundamental and operational realities. Top line numbers right through to the bottom line such. No call for a retraction(s) of officially presented detail. Inclusive of projections and guidance numbers. The whole of it saying all same has to/needs to. Stentorian voiced. All argument to the contrary aside.
Management being the focus. Not the issuing company.
Plain and simple.
Fundamental and operational soundness.
My vote calling for current management to remain in place. It being they, after all, responsible for that to-smile-about fundamental and operational soundness. The whole of the situation accomplished on their own dime. Others will feel differently. Wanting to move on complete with a changing of the guard.
Risk/reward being not the issue. An investment in America's Cleaning Company being a solid choice. Well-grounded.
Exactly what the mentioned settlement (if) amounts to we'll find out. And straight from the SEC's Division of Enforcement at the appropriate time.
The bottom line being that with the right spark/catalyst in evidence market level will be hurtled seriously northward.
The sought-after breakout evincing itself.
While as for OTCBB status regained and the prospect of the MOASS?
Simply enough, matters of icing on that proverbial cake.
The faithful longs winning no matter which way one looks at the whole of it.
A matter of onward and upward.
The plain and simple reality.
Massive gross undervaluation circumstance permanently amended.
Jay…
Hello to you.
Hope all is well with you and yours.
While on the subject of being cash flow positive we have a matter of operational nirvana. The for-profit company Holy Grail. Private or public. Achieving, that is, sufficient cash flows from ongoing operations to dismiss all obligations. The operational self-sustaining. Absence equity application. Absence debt load. As regards ongoing operations. Exclusive of growth/expansion requirements.
As for the referenced passage in particular?
A need of noting the involved timing. Mr. Metter's comment having arrived via PR on March 5, 2009. A 'Letter to Shareholders'.
With our being aware of the raw numbers picture for some of the subsequent quarterly operating periods. With a need again of factoring in the Dicon acquisition. Wholly owned subsidiary for us.
And recalling…
'The Company has immediately picked up approximately $10 million in revenues and approximately $1.5 million in pre-tax earning from the acquisition. Dicon currently sells various products including private label brands for multiple industries through established channels of distribution in the U.S., including traditional food, drug and mass market stores such as CVS, Walgreens, Kmart and Wal-mart as well as direct sales to large commercial clients; all of which SpongeTech® intends to immediately utilize.'
Additionally, a need of considering the ramping up of the company's marketing budget to the $20m area for fiscal '10.
Our knowing that the first three quarterly periods of fiscal '09 were associated with approximately $9m in marketing expenses. The degree to which RM Enterprises was involved in all of it. The expensing. The reality of the earnings picture in the absence of any such.
The whole of the situation discussed at length. The quality of earnings consideration. The very reason why we do so anxiously await the arrival of the coming numbers both audited and not so. Picture painted. Big picture fully emerged. And no. As previously stated we're not mindlessly looking for perfection. Harboring ludicrous expectations. What we are looking for is period-over-period improvement. Operational advancement to the point of no additional need of leaning on RM Enterprises. Capacity to dismiss all obligations internally. Advancement toward such. With there being, thankfully, a number of parties among us adept at clearly interpreting financial statements. Yours truly inclusive. Being well-experienced.
Our knowing that at the current point of operations we have a matter of a need for scaled up production capacity in order to meet ever-growing demand for the company's well-received products. Knowing, additionally, that as the raw numbers picture smilingly advances so goes the gross margins picture. The effect of synergies. Of economies of scale kicking in. An expectation flatly stated by management. Part of the bringing of new products to market picture additionally.
And Mr. Moskowitz from the NFE Conference...
"Last year we did $5.2m. This year we'll do over $40m. We should keep up with that same growth pace over the next three to five years as the products start coming out. Basically, we have about twenty-five products now. We should have one hundred by the end of 2011. The better products are still yet to come. Because we wanted to make sure, before we got into the cleaning of the kitchen and the bath ... we tested it out in cars and we tested it out on dogs before we started dealing with human beings and people in the house. So now that we know that the product works we'll be able to add it to pretty much any item in your house. Whether it be glass cleaners or cleaning the carpet or doing the dishes or doing tables. You know, mopping the floor. Those are where the big dollars in the product are and that's where our biggest gross profit margins are going to be."
It being no mean easy feat to establish a retail foothold. Dog-eat-dog goings-on. The fact of the stellar success to date speaking, in stentorian voice, as to company product line viability overall. The whole idea behind the ramped up marketing push being to drive the consumer to retail. Spurring market penetration.
And an informative read on the subject…
http://www.pr-inside.com/spongebob-a-huge-seller-public-otc-spng-www-thespo-r1440472.htm
Management targeting, as we know, a parent company product line consisting of 100 plus SKU's, 100,000 or so retail placements and $500m plus in annual gross revenues. Giving P&G an eventual run for its money.
And again...
"We've grown with very little capital."
An ongoing situation of no debt and minimalist dilutive activity.
While as for the present?
Again, the numbers are on the way. Both audited and not so. The big picture emerged in full. The undeniable.
The bottom line being that truly massive fundamental and operational strides have been made. America's Cleaning Company being far from the OTC startup/development stage typical. Being entirely atypical. The glaringly obvious. Revenues of worth as opposed to empty such. An asset base consisting of both the tangible and the not so. The whole of same coming not as a direct consequence of overwhelming debt load coupled with massive dilutive activities. The value associated with branding and name-recognition. So on. Soundness. An ideal buyout target.
The post-suspension trading resumption in concert with the Wells notice detail spelling out the reality. The telling absence of a call for a retraction(s) of officially presented detail. Projections and guidance numbers inclusive.
The days of the faithful longs being on the way in the absolute.
Understandable accumulation continuing.
Building to breakout.
The truly massive upside.
An upside as clearly seen by Daniel Pike as by all the rest of said faithful.
Holding indeed tight.
All the best to you and all others.
Thank you.
And you're welcome.
Jeff,
Drawing ever-nearer…
http://stockcharts.com/h-sc/ui?s=SPNG&p=D&yr=0&mn=1&dy=0&id=p74456084873
Almost home!
Thank you.
And you're welcome.
Mark...
Outside debt referring to externally-sourced capital. Debt-based. As separate and distinct from the startup/development stage typical of insiders personally financing operations and growth/expansion.
In the case of SPNG and RM Enterprises we're talking financing viewable as a series of private placements. Equity-based. The involved issuances viewable as collateral. Loan collateral. Those issuances complete with a restrictive legend(s) attached. And issued at a 40% discount to market level in light of associated risk. That market level could see a significant and sustained downturn post-issuances. A matter of management putting their own money on the line in bringing value to all involved.
And kudos on that one.
Not a matter of overwhelming debt load as is typical. Of being leveraged to the hilt.
Recalling Mr. Metter having long ago made it abundantly clear that, in launching the new (at the time) operational focus on product development, the successful securing of a bank loan on favorable terms was simply not doable. Company fundamentals just weren't there.
While more recently we have...
'We are proud to announce that our Company is now cash flow positive and can finance our immediate growth from the cash generated within. We have been in negotiation with two banking institutions that could potentially provide us with accounts receivable financing, if and when needed for the future growth of our Company. However we hope that future cash requirements for product development, marketing, production, and financing of inventories and receivables can and will be generated internally.'
And, so far, all smiles for sure.
Kudos indeed.
Mingy...
Very interesting.
Incriminating as need be given the disappearance of The Dean's June 11th musings.
Saying all same has to/needs to.
Folks in need of a little regulatory attention.
Plain and simple.
Kij...
Between RM Enterprises cancelations and the open market buyback the Outstanding count target was announced as being in the 500m area. The private side and public chatter on the subject suggestive of the 300m area being the current reality.
Recalling how certain parties among us spoke earlier of Bill Young having supposedly quit or been summarily dismissed. Of supposed company IR complicity. Supposed fraudulent PR's published. The Flickr bit of stupidity. And the supposed infighting. Laughable claims of a falling out among management. The involved parties supposedly distancing themselves from one another. Claims of Mr. Metter having gone so far as to have submitted his resignation. So on.
With it being sad the degree to which some of the once faithful among us have bought into much of the ongoing spew.
Holding tight in the absolute.
Stephen…
There's no arguing the fact of management owing a fiduciary duty to shareholders to keep same fully up-to-date and informed at all times. No arguing, additionally, with the fact of all involved being entitled to personal perspective as regards all. Your having made your own stance perfectly clear.
My personal take being as per my postings. Entirely satisfied with the primary fact. The fact, that is, of a management team getting the job done. Advancing a startup/development stage public company to fully operating status. A tough row to hoe even when not fighting a constant uphill battle against truly evil forces.
I'd much rather a management team getting the job done than a management team only too willing to talk the talk but unable to walk the walk. Not to mention that it's, all of it, being accomplished on management's dime.
No arguments whatsoever.
Allowing for current overall circumstance. Regulatory involvement. Uphill battle. Additionally, the fact of current trading venue status. Being understandably loathe to open the info./detail floodgates prior to OTCBB status being restored. Proceeding in the best financial interest of all involved.
Mr. Moskowitz having, again, made the situation entirely plain. The OTCBB first. THEN all hell breaks loose! Flatly stated via email in response to a series of very direct questions.
My vote being what it is.
Continued patience the key.
Daniel Pike and a host of clear-thinking others in full agreement.
None of the faithful longs clinging to the past once trading levels of $0.50 plus are in routine evidence. Our being in good hands. The best of hands. Competent. Capable. Getting the job done. The bringing of value. Our knowing well some of the goings-on back in June of '09. Parties in need of a little regulatory attention. Lies and deceit/distortion afoot.
The OTC being a trader's paradise. What it's all about. Taking the money and running! Green and gone! America's Cleaning Company being a different animal. An ideal candidate for that one in fifty startup/development stage public companies that manage to achieve long-term success. A matter of a company that simply belongs upstairs. An actual investment. Golden ground floor opportunity.
Holding tight in the absolute.
And thank you for writing.
All the best.
Mike…
Been there, done that.
Mr. Metter from the NFE Conference...
"We've grown with very little capital."
Recalling additionally the use of the phrases…
"Grand slam!"
"Haven't even scratched the surface."
As for the prospect of a buyout?
Bill Young telling us that a merger or an acquisition amounting to an "always on the table" proposition.
It being nothing short of sheer insanity for the inside to opt for personal enrichment via criminal pursuits in the face of a legitimate gold mine having emerged. Right in their laps.
With now a battle with FINRA.
The OTCBB.
Seeking regained status.
Fighting to maximize shareholder value.
But not to the point of mindless self-defeat as talked about.
A brand new trading week ahead.
Having a great weekend.
You and the rest.
Bill, et al.,
The Drakeford & Drakeford revocation saw "The Sky Is Falling!" routine. As did the launching of the SEC investigation. As did Deloitte's decision to step aside. Same with the class action goings-on. With GFGU. Cresta. Spongeables. Being bumped from the OTCBB. The Wells notice. NY Mets. MSG. The rest of it.
"The Sky Is Falling!" at every turn supposedly.
And?
And no such. Not even close. Malicious wishful thinking and worse.
America's Cleaning Company marching ever onward.
A budding empire.
The getting of the job done.
Ongoing business plan and model implementation.
No letup.
Management having earlier officially set the record straight per the company's major customers and more recently officially clarifying certain other proceedings. With the Wells notice having been thoroughly parsed at this juncture. Cooler heads prevailing. Inclusive of the fact of no call for a retraction(s) to any degree. Not with respect to the issuing company's numerous websites nor with respect to PR's over time nor to filings, so on.
Facts vs. mindless speculation and malicious wishful thinking and worse indeed.
Grasping at straws being the forte of fools.
Job one being to regain the OTCBB quotation. That which precipitates all else. Yours truly, for one, fully in agreement with managerial steadfast stance regarding the importance of a fitting trading venue being in evidence prior to the opening of the info./detail floodgates.
An uphill battle at this point. But one that management, in concert with company legal and accounting, is determined to win.
And extremely understandably so.
No hindrance(s) to a fitting market level outcome.
A permanent and spectacular end to being massively grossly undervalued. Achieving a senior listing the shareholder respectful way. The way it was meant to be. Institutional level monies factored in.
A fitting trading venue in evidence.
Not a difficult concept even slightly.
Though, of course, don't forget that umbrella.
"The Sky Is Falling!" after all.
All the best to you and all others.
UOC, et al.,
Thank you.
Together…
We win!
The faithful longs.
My having been in the process, over the past few trading sessions, of waiting for settlement to complete on proceeds from upstairs. Proceeds applied this A.M. toward accreting my SPNG holdings. My latest order successfully filled mid-session. Smilingly priced at $0.03.
Letting whomever wishes to engage in all the barking and baying that he/she/they can muster. Of no greater material impact than is howling at the moon. An exercise in futility.
The Wells notice saying all same has to/needs to. Summing things up as befits. In line with the collective sentiment of the faithful longs from day one. No matter of recommendation of a lawsuit(s) being launched. No matter of the fraudulent. No matter of personal enrichment, of ill-gotten gain, of disgorgement. Nothing criminal. No such. As befits.
Were management of the criminal ilk in general? Well, how easy would it have been to have scooped a cool $9m for themselves when criminals indeed came calling? Concealing the potential nefarious goings-on via a Form S-8 registration or some such?
None of it amounting to rocket science even slightly.
Management being of the stand up and fight variety. Having fought an uphill battle for years. Having ramped up the greatly appreciated effort following the emergence of the June ugliness. Lies and deceit/distortion seriously afoot. Prevailing step-by-step. Drakeford & Drakeford. GFGU. Spongeables. SEC investigation. The fallout rest of it.
Market level having resumed trading as per original intent. The involved task force having satisfied itself as to issuing company fundamental and operational fact. No deliberately misleading PR's, filings, etc. The Wells notice spelling out the reality in finality. Allegations of run-of-the-mill violations and nothing more.
As plain and simple as one can make it.
Certain parties among us being entirely free to howl at the moon all they care to. No more effective than is spitting into the wind. No amount of malicious wishful thinking altering reality.
An understandable matter of business as usual as far as the operational is concerned. Production capacity to be scaled up to meet ever-growing demand. Facilitating the ongoing bringing of new products to market. Ever-expanding retail presence. Gross margins accretion. The best yet to come. The most profitable SKU's by far.
An investment in America's Cleaning Company amounting to a total no-brainer. Risk/reward scenario as good as it ever gets. Golden ground floor opportunity.
Money in the bank!
All hell breaking loose in line with regaining the OTCBB quotation. All those proverbial ducks in a row. Job one.
Pike being just the first of many more of such to come. Loading up as called-for. As befits. Institutional level monies flooding understandably in. Completion of due diligence. The truly massive upside. The retail contingent being the least of it.
Criminals indeed steamrolled in the process. No collusion. Management ongoingly honoring fiduciary duty. Coming through on behalf of themselves and all other shareholders. Building a very real company. A budding empire. Global reality. A business plan and model that simply couldn't fail. An operational gold mine. Cash cow.
Payday the way it was meant to be.
SPNG millionaire$.
Holding tight for the to-smile-about formal word to come.
Almost home.
Thank you and you're welcome.
Together...
We win!
The faithful longs.
Many agile minds working as one.
Holding tight.
Jeff...
CJ resides, so to speak, on the private side. Email. One of about fifty individuals in direct contact with me on a routine basis. Mentioned previously. The whole of it. Ongoing mutually beneficial discussion/discourse. A total pool of several hundred investors/traders. All seeking to do themselves a might of financial good. Collective personal net worth consideration.
It being impractical for me to routinely individually address each and every received email and so, with the understanding of all involved, I oftentimes go about replying en masse via my posts. A far more practical approach.
As for the company's myriad naysayers?
Free to do all the barking they care to. None of it mattering so much as even a lick at this juncture. An exercise in futility.
The worst of the June fallout at an end. The Wells notice spelling out the reality. No recommendation of a law suit(s) being launched. No matter(s) of fraud referenced. No call for disgorgement of any kind, type, sort to any degree. No matter of personal enrichment. Of ill-gotten gain goings-on. So on. A post-suspension trading resumption in line with expectation. In line with regulatory confirmation of that which management very clearly formally delineated…
--------------------
(September 25, 2009)
SpongeTech® Delivery Systems, Inc. Sets The Record Straight
SPNG ... makes the following statement: The recent press reports regarding SpongeTech are inaccurate. The major customers cited in the SpongeTech’s financial statements for the fiscal third quarter of 2009 are all current and active customers of the Company. We believe that a number of documents cited in press reports about the Company are Internet forgeries being used by short sellers and stock speculators to undermine the integrity of the Company and profit from the adverse publicity.
--------------------
The referenced suspension having spanned October 5, 2009 through October 16, 2009. Only six active trading sessions between the arrival of the referenced 'Sets The Record Straight' PR and the commencement of the suspension. It not taking a rocket scientist to figure out just what the findings in part were. The record set indeed straight. Suspension lifted as per original intent. Einstein needing to not apply. As per usual.
The Wells notice spelling out the continued reality. No law suit(s). Nothing criminal. Nothing fraudulent. No disgorgement. No matter of personal enrichment. Of ill-gotten gain. A matter, instead, of nothing more virulent than run-of-the-mill SEC rules/regs. violations. Disagreement as to the need for a Registration Statement(s) being filed. So on. With, again, there being no mention of management being in disagreement in any way(s) with the stated recommendation per the relevant 8-K.
The whole of the situation now winding down. Settlement details to be soon formally announced. Inclusive of the performance issues surrounding the MSG goings-on. Another matter of management having recently set the record straight…
--------------------
(January 15)
SpongeTech believes the complaint to be without merit and intends to conduct a vigorous defense.
--------------------
Understandable refusal to honor lack of performance. As per the contractual.
The bottom line being what it is. The undeniable. No recommendation of a law suit(s) being launched. So on. The numbers being accurate. No material restatement(s) called for. The investigation having come up empty but for run-of-the-mill violations. Nothing criminal. Nothing fraudulent. No matter of personal enrichment. Of ill-gotten gain. The rest of it.
Zip! Zilch! Nada!
The ongoing frantic spinning routine courtesy of the company's myriad naysayers amounting to nothing (ahem) short of the laughable at this juncture. An exercise in futility. Comic relief.
America's Cleaning Company having prevailed in the absolute.
Game over!
With it being entirely welcome that management isn't of a collective general nature to simply lie down and be trampled upon. Being of the stand up and fight variety. Cut from the same sturdy cloth as are the faithful longs. Having faced the GetFugu goings-on and prevailing. Having faced the Spongeables bit of slyness and prevailing. The SEC investigation and prevailing. And now MSG. Standing up and very much fighting. No cowardly caving-in. Withholding payment until performance issues are met as agreed. Per the contractual. All involved. Not just one side performing.
And, so, kudos.
Stand up and fight indeed!
And sure. There are most definitely those among us having allowed the company's myriad naysayers to do indeed a might of trampling. The rest of us continuing the fighting of the good fight. No lying down. No welcoming the application of hobnail boots. Not even slightly.
The bottom line being what it is.
Inescapable reality.
America's Cleaning Company having prevailed.
The faithful longs prevailing by way of extension.
Some telling PR's in the offing. A long overdue permanent end to being massively grossly undervalued. Back to being OTCBB quoted and on from there. A senior listing secured the shareholder respectful way. The way it was meant to be. The way it very much WAS prior to the advent of the June ugliness. Lies and deceit/distortion routine coming to the fore. And now winding down. The whole of it. No longer a window of opportunity to seriously impact the gullible. The big picture fully emerged. The undeniable.
Market level soaring!
Institutional level monies factored in.
Share structure reality additionally.
The indeed to-smile-about rest of it.
Jay...
Hello to you.
And thank you.
All being indeed well at this point.
And you're welcome.
Payday on the way in the absolute.
Long wait well worth it.
SPNG Millionaire$.
N...
Hey indeed.
And most assuredly.
Naysayer Central.
And you're welcome.
And good for you.
Supporting your own investment.
And thanks for writing.
All the best.
Bill…
A little something to consider on the subject...
--------------------
The OTC/OTCBB/Pink/Grey companies make great targets for foreign/overseas hedge funds and short sellers who easily work around U.S. regulations to naked short sell these stocks -- pocketing funds the companies and the U.S. treasury will never see, diluting stockholdings that are not theirs to decide to dilute thereby stealing from U.S. investors, and often actively working to drive these companies bankrupt so that they will never have to cover their short sales. For U.S.-based naked short sellers, this means not having to pay taxes on their gains.
[ often actively working to drive these companies bankrupt so that they will never have to cover their short sales ]
In conclusion, naked short selling is theft. It is the sale of shares that are not the sellers' to sell. Naked shorting is NOT something the average investor can do, so it creates an incredibly unlevel playing field, one heavily slanted against the honest investor. We are talking billions upon billions of dollars being funneled out of U.S. investors, the U.S. treasury, U.S. companies and the U.S. economy. This is incredibly damaging to our country, and if some of these funds are making their way into the hands of enemies of our country, which I believe they are, then we are looking at true horror. It does not matter whether these funds were obtained by naked short selling an NYSE company or a lowly OTCBB company.
--------------------
Payday in more ways than one.
Keep smiling.
Ciao for now.
CJ,
Just remember that the whole of it had to be channeled through company legal.
Took a while but now done.
Get ready!
Kyle, et al.,
Affirmative.
The word being out.
Back to being OTCBB quoted. A thereafter flood of PR's and filings and the to-smile-about rest of it. Market level soaring to the $0.50 level and on from there as institutional level monies flood understandably in.
Dollar$ being what we're talking about.
No material restatement(s) of the numbers. Raw numbers accretion as previously. Month-over-month growth/expansion.
The big picture fully emerged. The Wells notice matters amicably settled. Outstanding litigation matters to be similarly addressed.
The days of the faithful longs. The beginning of it all. And no. No buyout. Not at this juncture. A matter of business as usual. Ever-mounting orders. Ever-mounting sales. The right management for the job. Getting that job done.
Budding empire.
Global reality.
And a tough row to hoe for sure in the face of an enduring onslaught of lies and deceit/distortion. Oppressive resistance. Criminal. The whole of the ugliness about to be steamrolled in finality. In more ways than one. Just as the faithful longs have long anticipated.
The undeniable emerged. The big picture the way it should be. Clarity in full.
Last chance to load up at bargain basement prices. Window of opportunity closing.
Seeing you and the rest at the top.
Institutional level monies factored in.
Share structure circumstance additionally.
The indeed to-smile-about rest of it.
Payday!
SPNG millionaire$.
Karen, et al.,
A family member having been seriously ill. A touch-and-go situation for a while. Nerve-racking to say the least. Emotionally draining. Thankfully, said member doing much better as of this writing. The family breathing a collective sigh of relief.
As for our budding empire?
Point one being to stick to the factual as best one can. And with same in mind?
We'll start here…
--------------------
IMMEDIATE CAPITAL GROUP, INC., d/b/a INCREDIBLE DISCOVERIES
DEFENDANT's Commercial for the SPONGETECH products was broadcast nationwide and has produced nationwide sales of these SPONGETECH products, including within the state of Florida, and for which the plaintiff was to be compensated Royalties based on such sales.
Commercial was produced to air in numerous states, including Florida, for Spongetech products ... which were and are being sold throughout the country, including Florida, and Products have accrued royalties payable in Florida pursuant to the Agreements made.
--------------------
The state of Florida being what we're talking about. And crunching the numbers the big picture emerges. The raw numbers such. That to very much smile about. Noting that it's not unusual practice for DRTV agreements to be conducted and concluded entirely via electronic means. Via telephone, email, fax, so on.
While on the subject of the defendant we have an interesting read…
--------------------
Immediate Capital Group Inc. has a respectable list of 20+ court cases listed in the Broward County Clerk of Courts website.
Incredible Discoveries also has a respectable list of 20+ court cases listed in the Broward County Clerk of Courts website.
http://www.scam.com/showthread.php?t=115681
--------------------
A need of sticking to the factual as best one can. Avoiding a conveniently slanted perspective. There being always two or more sides to every story. All litigation goings-on.
While as for the numerous and far-reaching sports sponsorship and marketing partnerships/agreements?
A need of bearing in mind that we're talking a time of global financial difficulty. A severe credit crunch and the fallout from same. A time when professional sports concerns were desperate to lock-in corporate sponsorship and marketing partnerships/agreements. An environment that SPNG management smartly fully advantaged/leveraged. Locking-in multi-year deals at a fraction of the collective cost that would have been the case were the referenced difficulty not the reality.
A situation that one can readily understand becomes more difficult to bear for the involved professional sports concerns as global economic circumstance gradually improves. Corporate entities willing to once again (ahem) step up to the plate. Monies in hand. Bearing in mind that there are issues of performance for all involved. A certain number of eyes to be in routine attendance. A certain level of sales generated. So on. The entered into partnerships/agreements carefully structured. All involved gaining. Lack of performance calling for action on management's part. Stopping payment or otherwise failing to honor the outstanding. Checks bouncing.
Working on a mutually satisfactory settlement as we know.
With it being entirely smart of gifted marketing personnel to have fully advantaged/leveraged as they have. Keeping overall cost to a minimum. With now a few pressures coming to bear. Having to do with gradually improving global financial circumstance.
None of it amounting to rocket science.
A need always of a balanced perspective and not a conveniently slanted such. Seeing only that which one wants to see.
Daniel Pike being well aware of the SPNG big picture. Having loaded up accordingly. A far from doom and gloom picture. And yes. Messrs. Metter and Moskowitz do have a collective past. Being as imperfect as the rest of us. But in America's Cleaning Company we're again talking about a business plan and model that simply couldn't fail. An operational gold mine. A cash cow. With Susan at company IR having told us all about the fact of all involved having been taken by surprise. The general level of market acceptance of the company's initial slate of products. Way beyond anyone's expectation. Products more than well-received. Sales and orders ever-mounting.
It being nothing (ahem) short of sheer insanity for the inside to opt for personal enrichment via criminal pursuits in the face of a legitimate gold mine having very much emerged.
Einstein needing to not apply.
And sticking to the factual as best one can we have again the fact of the Wells notice having made no direct reference to any of a recommendation of a law suit being launched nor of any matter of fraud.
And recalling...
'recommend that the Commission bring civil injunctive actions against them alleging violations of the federal securities laws'
As for yours truly?
Seeing the light along with Daniel Pike. Continuing to load up. To fully advantage/leverage a golden entering/adding opportunity.
Letting bail whomever wishes to.
May he/she/they succeed elsewhere.
FM…
You're welcome.
With, very much, a need of sorting the wheat from the chaff. Of focusing. Of continuing to string those telling bits and pieces together. The big picture emerging.
Back to being OTCBB quoted.
The info./detail floodgates fully opened.
The big money flooding in.
And always of good cheer.
All the best.
LG…
You're welcome.
As for guidance?
Once upon a time I did just that. Sharing the wealth. My having explained in full in a prior post. A time when my focus was the basement. A time when I provided 25 heads ups. Advising folks to keep a close watch on certain prospects. With only one 'bad' call. That one to have seen a payday but for one unthinking soul who spilled those proverbial beans a tad too early. A long story.
And, so, a 96% success rate. From doubles to a 38-bagger. Numerous multi-baggers.
My focus being now upstairs. The NAZ. Junior and senior. A swing trader. Every trading session. Locking-in worthwhile profit. My just dabbling in the basement. The way it now is. And with time comes experience. All neophytes to the flighty world of equities learning the hard way. Risk/reward. With quality of management being the always key. SPNG management being imperfect but being the right parties for the job. The promotion angle. Talked about at length.
The days of the faithful longs to very soon arrive.
A welcome end to the twisting of reality routine.
Jay…
Hello to you.
And thank you.
Noting that my response regarding the possibility of an all-encompassing amalgamation between and among SPNG/VAEV/PARL being an in-general presentment. A response to a number of posters. Their own misguided presentments on the subject. The reality being that any such amalgamation makes little fundamental sense. Would be largely counterproductive.
As for the one you reference? Your being at a disadvantage? Facts supposedly presented?
From today…
"Civil fraud suits by federal regulators"
And did the Wells notice directly reference any recommendation of a law suit being launched? Any matter of fraud?
Again...
'recommend that the Commission bring civil injunctive actions against them alleging violations of the federal securities laws'
[ civil injunctive actions ]
[ alleging violations ]
Noting, again, that in the relevant filing management made no direct mention of being in disagreement to any degree with the therein stated recommendation.
A settlement having been arrived at.
Detail on the way plus much positive else.
Keep smiling.
SJ…
Interesting.
And indeed. My having noted those GGR musings.
As for the big picture? The venue?
Shorty it is.
The twisting of reality.
About to be untwisted in the best way possible.
The undeniable.
Payday at long last.
Holding tight.
Ciao for now.
Bill,
Negatory.
The blogging coming courtesy of 'The Dean' over at 'collegestock'. The involved post long since removed from the site. And very tellingly so. The follow-up FUD routine having starting out with…
"Big dump coming!!!"
"SEC investigation!!!"
"SELL!!! SELL!!! SELL!!!"
Together, all that it took to precipitate the collapse. And telling, is it not? That the whole of the lies and deceit/distortion routine did result in what it did. An investigation indeed? And recalling the misguided posts of the time. The myriad erroneous opinions expressed as to just what it was had precipitated the unloading. On and on until yours truly painted a picture. The message finally getting through. And wouldn't the bunch of us give a proverbial eye tooth to know if, in all of it, we are talking the phantom float criminals. Or whether it was a matter of an unrelated opportunist or two.
Chatting with you later.
Stephen…
You're welcome.
And thank you in turn for your always clearly thought-out contributions.
Continuing the fighting of the good fight.
SB…
No. Not 300m short. Appeals to the inside to 'legitimize'. To close out open short positions. Clearing up the books. The mountain of IOU's. The ex-clearing ugliness. That which is most likely. In terms of the criminal goings-on being hidden. By way of private accounts. Open short positions maintained as open indefinitely. A private contract(s) situation. Criminality.
A party(ies) to the phantom float having, apparently, approached the inside several times. Dating back over several years. The most recent, that we've heard about, being the mentioned 300m. Seeking a 300m long position priced at $0.03 per share. A $9m cost. A long position used to cover. To close out open short positions. Cheaper than via the open market. But not by much, in relative terms, given current trading levels. Leading to much speculation. With the inside refusing to cooperate. Pointing, instead, to the open market as being the only available option. Not being lured in by the prospect of an easy score.
And, so, $9m. Obvious, again, concern. A ledger(s) somewhere in need of clearing up. Why bother with the appeals if such was not the case? If there was no reason to be concerned? The phantom float criminals having figured wrong. Having targeted poorly. Having counting on management being not only inept relative to business dealings but criminals themselves. But no such. Not even close. And as market level climbed to our interim High of $0.2851 did said criminals panic? Proceeding as witnessed? Well, it most assuredly fits. No argument. The big picture considered. We just cant say with absolute certainty. But it does fit. And management did declare 1:100 intent. And to expose the phantom float? The primary purpose? And how obvious would it be if, say, the Outstanding count was reduced to 10m and the next trading session saw daily volume of 45m?
Our knowing that the declared intent was about achieving the NCM. The senior listing. All initial listing requirements largely met but for pps circumstance. The reason why numerous times we've said that in America's Cleaning Company we're talking a company that simply belongs upstairs. The reason why trading levels in the $1.00 area will secure a waiver of the initial listing minimum Bid price requirement of $4.00. The involved Listing Council seeing the light. The 1:100 declaration seeing the light of day because market level was stymied. The June ugliness having, unfortunately enough, wholly succeeded. Forcing management's collective hand.
But now? The truth untwisted? The $1.00 area achieved? Far in advance of?
What's coming, in both audited and unaudited terms, amounts, as stated, to a matter of completion of due diligence. My long ago having presented to the board a link to the NASDAQ site. To the SPNG 'Detailed Institutional Holdings' tab/page. Advising all involved to maintain that link. Watching for updates. Updates that eventually came. Institutional level involvement mounting. Though, admittedly, modestly so. Well, that level of institutional involvement is about to skyrocket. In line with the numbers going primetime. Completion of due diligence. And if yourself, or any involved other(s), think I'm wrong? Wholly misguided? Well, wait for the info./detail floodgates to be opened in full, the updates to be posted, and then tell me.
Everyone and his/her dog is going to be all over this one. Having long looked for just such a golden ground floor opportunity in an otherwise tough environment. Global reality. A business plan and model that simply couldn't fail. An operational gold mine. A cash cow. Daniel Pike having close ties to SPNG management. Not an arm's length situation. Getting in early. Before all hell does break loose. And only the beginning. Pike only the first to climb massively on board. The completion of due diligence opportunity on the way.
The truly staggering buy-side to come!
As for the MOASS?
Well, again, I can't say whether or not a controlled buy-in has happened. All I can do is share with the board that which comes my way via the private side. Chatter telling of management having, some time back, arrived at a meeting of the minds with at least one of the parties to the phantom float. With my being unable to confirm. What we can say is as earlier stated. That given the current degree of regulatory attention it would be mind-boggling to consider that the matter of the phantom float and the lies and deceit/distortion routine would be entirely ignored. The company and its management team cleared with the actual problem left unaddressed. I know I'd be shaking my head. And if the MOASS was a lock? Well, would management have declared 1:100 intent? And how about now? All hell about to break loose. Market level soaring in the absolute. Unable to repeat the June ugliness. No seriously impacting the gullible as previously. No lingering questions. The MOASS precipitated?
Well, who among us knows what will happen? Have those behind the 300m appeal already covered? Having advantaged current trading levels? The rest of the involved being domiciled offshore? Not worried in the slightest?
No MOASS?
Well, again, my not having the answers.
For me it's all about completion of due diligence. Recalling how we, all of us, relished the ongoing numbers picture. The month-over-month updates. Booked orders ever-mounting. New records being routinely set. And what since? Still climbing? Monthly record after monthly record? With new products coming to market. Big sellers as previously in the absence of all doubt.
The numbers are on the way.
Market level poised to explode!
An end to the imploding routine. Noting how readily our interim High of $0.2851 was achieved. How readily market level came off our $0.0785 capitulation Low to back above $0.15 and on to above $0.20.
The $0.50 level will be a cakewalk. And on from there. The big money factored in. On to an NCM listing.
While as for the "Pike Motive Solved"?
Daniel Pike having made an investment. An extremely astute such. Getting in early. Loading up big time. A close association with SPNG management.
An extremely astute investment.
Timely.
Before all hell breaks loose.
ROI.
End of story.
Jay…
No argument that there are some parallels. Some crossover. With my thinking that last evening our good friend ID was going to pop a blood vessel or two. Blow a gasket. He/she gleeful to the point of giddyness. Wild imaginings getting the better of him/her. The reality being that there is no upcoming all-encompassing amalgamation between SPNG and VAEV. No such with PARL.
The attaining of the NCM will come. Being that which is of greatest import to the inside. A matter of getting market level where it rightfully belongs at the very least. The effect of an applicable earnings multiple factored in. America's Cleaning Company being, again, a company that simply belongs upstairs.
Our being on the verge of seeing it all come to pass.
Seeing you and the rest at the top.
All the best.
SB,
A 300m long position was appealed for. Priced at $0.03 per share.
Mentioned a number of times.
Info./detail coming by way of our good friend DarkLady. A 'connection' to Mr. Moskowitz.
Our reasoning, at the time, that the overture came about post-May 2009.
And no. No 'shares' created in June. The shorting activity being of the legitimate variety. All set up and ready to go. Positions opened. Just waiting for the blogging. The follow-up FUD routine.
Complete with FTD's during our climb back above $0.20. Cleared up as market level once again tanked. The 1:100 intent declared.
The rest of the story we're all nauseatingly aware of.
CS,
It's in fact a difficult concept. Tough to figure. Tough to wrap one's mind around.
In the July/August timeframe management formally painted the phantom float picture. Making plain the existence of the abusive goings-on to the relevant regulatory authorities. Bill Young telling us that there wasn't much the company could do about the whole of the ugliness. That the necessary documentation had been filed. That revenues and profit were the answer. Were the plan. With, in early September, the 1:100 consolidation being declared. The intent to consolidate the outstanding stock.
And adding it all up?
Well, we need consider the current reality. Harking back to June 11th in the process. The blogging. The follow-up FUD routine. And an accurate assessment? That some of those behind the abusive goings-on were the perpetrators? Having panicked? Preventing potential financial disaster for themselves?
And how about the appeals to the inside to 'legitimize'? How about the offshore angle? The Hong Kong connection? The talked about hundreds of millions of 'shares' originating.
One undefined entity was willing to step up to the plate to the tune of $9m. Seeking to 'legitimize'. Telling us that there is concern. A need of clearing up some ledger(s) somewhere. And extremely likely domestically. The $9m obviously a drop in that proverbial bucket compared to the ill-gotten gain in full. The full proceeds of the crime. And, despite, we have Bill Young telling us that there isn't much the company can do. With management declaring 1:100 intent.
Market level being on the verge of rocketing skyward. Far surpassing our interim High of $0.2851. No longer a matter of gross undervaluation. The big picture fully emerged. The undeniable. And the regulatory authorities are up close and personal. Having been so for some weeks. Being focused otherwise on a number of issues inclusive of far-reaching abusive shorting practices.
In June the train was successfully stopped. Stopped and reversed. A window of opportunity to seriously influence the gullible in evidence. Fear, uncertainty and doubt afoot. Lingering questions. But with the undeniable in evidence? Big picture fully emerged? That to wholly smile about?
Well, will it be the MOASS? Unable to repeat the June scenario the involved jump in? Covering massively? Or is it a matter of a controlled buy-in? All said and done as of this writing or soon to be so? In large part at least.
A difficult concept in the absolute. Tough to figure. To wrap one's mind around. No shortage of conflicting bits and pieces to try to factor in. One unable to reason the whole of it to any worthwhile degree.
What's graven in stone is that the fear, uncertainty and doubt window of opportunity is about to close in finality. The undeniable to emerge. The truth untwisted. No longer a case of lingering questions. No longer a facile task to play on people's weaknesses. Unable to repeat the June scenario.
My not having the answers.
Nor any other of the faithful longs.
But how about the inside? What difference has the recent regulatory attention made? A controlled buy-in? A negotiated settlement? And if no? Well, what then? A phantom float of potentially hundreds of millions left unaddressed? The continuation of the uphill battle?
Does such make sense?
Clear the company and its management team of any egregious wrongdoing, of any criminal activity, but leave the actual problem entirely unaddressed? Massive abuse? A flood of lies and deceit/distortion?
And with that said/asked?
Well, back in June market level had no problem whatsoever hitting our interim High of $0.2851. The buy-side strength still very much in evidence at the time. The existence of the phantom float not much impacting.
And we could certainly chat all night on the subject and still come up empty on the answers front.
Personally, as stated, it's not about mindless greed for me for one. It's about ROI as talked about. That which fits. An end to being grossly undervalued. Market level where it rightfully belongs at the very least. The effect of an applicable earnings multiple factored in.
Next trading week on the way.
That which I'm hearing will play host to indeed some answers.
Some long awaited one's
All the best.
Jason,
It's always necessary to put things in perspective.
The big picture.
Being always for the best.
In the matter of Pike and SPNG we're talking an investment. And certainly not an arm's length one as pointed out. Open market purchases. A matter of gross undervaluation circumstance being fully advantaged. Money in the bank. The future wide open. A business plan and model that simply couldn't fail. Operational gold mine. Cash cow.
In the matter of Pike and QSGI/QSGIQ we're talking capitalization. Funding the company's ongoing operations and growth/expansion directly. A matter of private placements. Of warrants and convertible notes and preferred securities.
And an example...
'133,333 shares of Series A Preferred Stock convertible into 1,777,777 shares of common stock'
None of it a matter of open market purchases. Mr. Pike himself actively involved with the company in an advisory capacity and more. Having performed the necessary due diligence.
And...
(Mr. Pike from August 2005)
"In today's environment of heightened data security concerns and increasing regulatory compliance requirements, it's difficult to identify a company or individual who doesn't need a comprehensive solution like those provided by QSGI."
Our talking a time when the company's stock was troughing for the second time in the $1.50 area. Twice previously having charged to the $4.00 area.
A sound enough business plan and model and cash flow positive status was achieved. Positive EBITDA additionally. But it wasn't to be. A matter of changing fortunes in line with the global financial crisis. That which we well know spanned early 2007 through 2009. And still not out of those proverbial woods. Still on shaky ground globally. Plenty of risk to go around as yet.
Putting things in perspective.
The big picture.
Everything in life being relative.
Baseless blanket statements being worthless.
Pike's involvement with SPNG being a world different than relative to QSGI/QSGIQ. No different than that of all of the faithful longs inclusive of Doug Furth and associates. Just a matter of magnitude.
The reasoning the same.
ROI.
Payday!
Interesting trading week ahead.
Staying tuned.
Jason,
Try this one…
http://www.implu.com/person/156382
Thank you.
Mike, et al….
The involved task force (composed primarily of securities enforcement attorneys) is empowered to complete the investigation. Complete with general power of subpoena at hand. With any resultant recommendation of enforcement action being just that. A recommendation. To the Commission. And if the Commission is in general agreement, per the overall findings, authorization will be granted. The involved task force empowered to proceed relative to actual enforcement action.
Management obligated to file the Form 8-K. Material company event circumstance. Timely, full and fair disclosure as per SEC rules/regs. (Our ignoring the fact of current trading venue status.) Noting that the filing made no direct mention of management being in disagreement, to any degree, with the stated recommendation therein.
The upshot being that, as we've heard from a number of sources recently, a resolution has been successfully negotiated. The arrival of the Wells notice part of the settlement. Signifying actual implementation. The sending of a Wells notice being a matter of volition for the Commission and not a legal requirement.
No enforcement action to be taken against the company itself. Meaning that the numbers are sound. No need for any material restatement(s) as talked about. With management themselves to pay a collective civil penalty in the form of a fine.
With the whole of it adding up. Entirely fitting.
The Wells notice making no direct reference to any matter of fraud. No recommendation that the launching of a law suit be authorized. No reference to any matter of personal enrichment. Of ill-gotten gain. So on.
Noting that in concert with no call for disgorgement in any form/to any degree, etc. there has arrived to-date no formal retraction(s) regarding fundamental and operational detail as outlined per the company's various websites, numerous issued PR's and SEC submissions i.e., filings, etc.
A done deal being what we're talking about. A successful resolution/settlement. A satisfactory outcome in the view of all involved parties. Nothing egregious. Nothing criminal.
With it coming as no surprise that management would be in ongoing discussion with the Commission as the investigation progressed toward finality. Working on a resolution/settlement. A mutually satisfactory end. While as for those oft-mentioned documents formally filed weeks ago? The existence of a massive phantom float made plain?
And a controlled buy-in?
A far-reaching satisfactory resolution/settlement?
Well, certainly, it's a matter in the overall of having far transcended the earlier reality. Being all we can say on the subject, with any degree of certainty, as of this writing. The company's greatest detectors at this point, as talked about, simply spinning those proverbial wheels. Going absolutely nowhere. Any/all traction entirely lost. An exercise in futility. The final nail in the coffin on the way. The undeniable. Numbers both audited and not so.
And just how believable will be the, doubtless to come, mind-bending claims of said numbers representing fantasy at best? The pending arrival graven in stone. Saying all same has to/needs to about the involved.
'Nuff said.
As for timing? The whole of it?
What's of greatest import is that the whole of it does get amicably resolved/settled. America's Cleaning Company and a collective great weight lifted. Market level free to ascend in line with the to-smile-about ongoing numbers picture. Period-over-period advancement. The FINRA roadblock cleared. Back to being OTCBB quoted. Back to our interim High of $0.2851 and far fittingly beyond.
With the mention made to date being that said roadblock will be cleared much sooner than later.
It remaining to be seen whether it will be a matter of putting the cart before the horse as far as the numbers are concerned.
Wondering to what extent management, and company BoD otherwise, have advantaged/will advantage, as our good friend NAR so rightly and eloquently states, a golden entering/adding opportunity. One not to be ignored/spurned. Having smartly loaded up. Filing(s) to come.
With, as talked about, trading levels in the $1.00 area obviating the need for a reverse split of any magnitude. An NCM listing successfully achieved. Minimum Bid price requirement waiver secured.
The shareholder respectful.
The future wide open.
Wondering, additionally, if Pike management sought any formal assurance(s) of no consolidation of the outstanding stock before loading up as tellingly as they have.
And small wonder indeed, hmm?
Kelly…
The company's products being in the marketplace. Global reality. Saying all same has to/needs to. The reality of Dicon. Letting those blood vessels pop. Those gaskets blow. The inane rest of it. Wild imaginings being what they are. Self-destructive.
As for the reading of one another's musings?
A personal judgment call. One either finding value or no. The Psych 101 games aside.
No arm-twisting involved.
Jay...
"something went horribly right with SPNG"
lol
A hello to you and thanks for the laugh.
Always a pleasure.
And agreed. The VAEV goings-on telling us much.
As for PROT?
Not "Roger Finley" but Roger Fidler. Mr. Pensley suffering ill health as you say. Having acted as general and special securities counsel for a number of public companies. With tying it all together being an interesting pursuit indeed. The man's professional history a tad checkered for sure.
As for that 'little something telling'?
A matter of business as usual. Not all lines of communication having been shut down. A simple matter of continued due diligence.
What it's all about.
Minimizing risk while maximizing potential reward.
The name of the game.
The reward on this one to be truly massive.
One for the record books as Pike management will readily attest.
And you're welcome.
Kij...
A massive selloff I tell ya!!!
Mindless bailing!!!
http://stockcharts.com/h-sc/ui?s=SPNG&p=D&yr=0&mn=1&dy=0&id=p74456084873
NAR,
Thank you.
And yes. I'm aware.
And certainly we could label any such error/misstatement an 'inconsistency'. Inclusive of the recent CUSIP Number bit of business. That which is nothing more than a simple transcription error. Propagated throughout the balance of the filing.
Noting of course, in this instance, that were anything untoward going on we'd be talking an understatement of gross proceeds and not an overstatement. Noting additionally that the referenced issuance itself is materially accurate as are the financial statements themselves. Said error/misstatement reflected per the main body of the filing, yes, but outside of the financial statements themselves.
Bearing in mind that we're talking Drakeford & Drakeford. A one-man operation at the time. Management having proceeded as they should. In line with company status as startup/development stage. Keeping overhead to an absolute minimum as befits. Keeping costs understandably down.
The whole of it speaking to just why the retaining of Deloitte on a long-term basis, as stated, would be a major step in the right direction. The earlier overture to bring the company on board speaking to the progress that's been made relative to achieving fully operating status. The stellar fundamental and operational advancement over time.
Said overture very clearly delineating the fact of there being nothing to hide.
With startup/development stage realities being what they are. A tough row to hoe. Understandable lack of perfection. The OTC typical scenario being a far different story than is the case for America's Cleaning Company. The typical amounting to fundamental and operational realities of a general nature to make one cringe. An asset base coming in concert with massive debt load and massive dilution. Empty revenues piling up massive period-over-period losses. Unrelenting cash burn. The equally ugly rest of it.
And the whole of it, the OTC atypicalness of America's Cleaning Company, was reflecting accordingly at market level in early June. A situation that saw certain criminal parties panicking. Resorting to that which they did. And here we now be/are.
The investigation complete. The associated findings a far different story than is the picture painted by criminals indeed over time. The company's greatest detractors. A world different. The ongoing attempt to see America's Cleaning Company going the way of the dinosaur being now nothing more substantive than an exercise in futility. Enough of the truth, enough of the big picture, having emerged to secure that particular reality.
Any/all involved hosting a personal perspective short of a self-serving agenda seeing that truth/picture. The rest, by mindless volition, blinding themselves to same.
Continuing the lies and deceit/distortion routine at his point transcending even the laughable. Pitiful and pathetic being what we're talking about.
Time to stick a fork in it.
America's Cleaning Company having prevailed.
Management far from being the cutthroat miscreants that the pitiful/pathetic indeed among us would have the clear-thinking rest of us believing. As those of us having long kept the faith have known would be the case from day one.
Admittedly, though, we need acknowledge the bargain basement reality of the current cost of admission. The welcome market level fallout for those seeking to enter/add at lowest possible cost. A far different picture than had the June ascendance continued unabated. Continued uninterrupted. Trading levels north of $1.00 in fitting evidence. No shortage of those among us more than a little grateful. Yours truly one of.
A blessing in disguise as we've numerous times noted. No shortage of eyes in routine attendance. Inclusive of those of the big boys and girls. The undeniable on the way. The truth in full/the big picture fully emerged. Completion of due diligence.
Nowhere to go but up.
And massively so!
Industrial strength breakout in the making.
And always great to hear from you.
Taking care.
You and the rest.
DL...
Thank you.
And as per your request…
--------------------
Thank you.
PM...
Good to hear from you.
And thank you.
And lol.
Stretch a neck or two, hmm?
And, indeed, patience a virtue.
Long wait well worth it.
And hopefully you and yours had/are having a pleasant, fruitful holiday season.
Me and mine being all smiles on the subject.
Chatting again soon indeed.
Carol…
I'm aware.
And negatory.
VAEV management having simply expanded the company's business plan. Having adopted a fully active external growth/expansion element similar to that of SPNG. M&A activity alongside organic growth/expansion. VAEV like SPNG being a holding company. A parent entity. Continued clear thinking represented. Noting the value-adding dimension of Dicon for SPNG. Wholly owned subsidiary status. The reason behind the reference I made.
An all-encompassing amalgamation, in any form, between VAEV and SPNG would be entirely pointless given SPNG managerial steadfast drive to achieve a senior listing. And certainly, were there to be any such amalgamation, we would be talking a merger and not an acquisition for obvious reasons.
Our having talked at length about SPNG management and the ongoing deliberate targeting of a buyout. Maintaining the parent company as debt free. Keeping dilutive activities to an absolute minimum. So on. At any point in the proceedings we could be talking buyout. A fitting offer on the table. While in the meantime it's a matter of getting on with getting on. The ongoing drive toward achieving a senior listing. Ascendance to a whole 'nother level in more ways than one.
And thank you.
Very kind.
Steve…
You're welcome and thank you.
Your ongoing clear-thinking effort doubtless appreciated by all longs. A job well done for sure.
Your "speed bumps" analogy entirely appropriate.
And decades indeed.
Long-term success being what it's all about in the absolute.
The prospect of a buyout always in the picture.
A management team getting the job done. Successfully fighting an uphill battle.
No giving up!
No giving in!
A management team to be absolutely proud of.
Regards to you and all others.
--------------------
TH,
I'm a treasure hunter.
Lexicography being just a hobby for me.
Bill…
Good to hear from you.
Been a while for sure.
And sure enough. It's a facile task indeed to sow seeds of doubt. To have intelligent folks questioning the soundness of their own judgment. Their own decisions/determinations. Taking the much bandied about word 'fraud' as an example. Easy to sow seeds of doubt. But was there any direct reference to any such in the Wells notice? Civil fraud charges as an example? Securities fraud? How about the investigation itself? The trading suspension? What were the primary regulatory concerns?
And recalling...
'The SEC announced that trading was temporarily suspended because of questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning among other things, the amount of sales and customer orders received by the Company, investment agreements entered into by the Company and the Company’s revenues as reported in its financial statements.'
And what does the fact of resumption of trading, as expected, suggest to you about the findings?
Fraud?
Criminal behaviors?
Total scam?
How about the ongoing implementation of company business plan and model? The many successes of late?
Many among us being in the self-defeating habit of running on emotion. Of allowing wild imaginings to get the better of them. When the simple reality is that the answers are always in the details. Never any different. Stringing the bits and pieces together. Remaining calm and rational. Paying close attention to detail. Thinking clearly.
Many among us, unfortunately enough, unable to think their way out of a wet paper bag either individually or collectively.
The Wells notice clearly stating...
'intends to recommend that the Commission bring civil injunctive actions against them alleging violations of the federal securities laws'
[ civil injunctive actions ]
'The recommended actions would seek, among other things, permanent injunctions and civil penalties.'
[ permanent injunctions and civil penalties ]
Noting, again, that the Commission, historically, has only ever taken enforcement action in half of the instances in which its staff recommends that action be taken. And in this instance we're talking standard operating procedure. Being, potentially, permanently enjoined from ever again bucking (if) the referenced rules/regs. Potentially a fine levied additionally.
And putting it all together spells out doom and gloom? All is lost?
And complete, total and utter nonsense!
Pure hogwash!
The telling findings relative to the raw numbers picture having come weeks ago. The RM Enterprises goings-on taking the lion's share of the time.
And now at an end.
A proverbial slap on the wrist if any enforcement action taken at all.
And only a 50% chance of that.
Einstein needing to not apply.
Not even slightly.
Industrial strength green in the offing as talked about.
Letting mindlessly bail whomever wishes to.
May he/she/they succeed elsewhere.
More power to him/her/them.
SJ…
Interpreting carefully...
http://stockcharts.com/h-sc/ui?s=SPNG&p=D&yr=0&mn=1&dy=0&id=p79592905776
A little more patience and all hell breaks loose.
All involved seeing for themselves what the SEC staff saw weeks ago regarding the raw numbers picture.
And a whole lot welcome additional.
Letting bail whomever, again, wishes to.
Weak hands out.
Stronger hands in.
SD…
You're welcome and thank you. And will do.
And no worries.
The answers being always in the details.
Plain and simple in this instance.
Payday on the way.
Regards to you and all others.
CJ,
Minor infractions met with a fine being levied. Nothing earthshaking.
Determinations being in place. The situation distilled down to its most basic. And do you imagine that did the following quoted passage represent anything other than the factual that said determinations would be a might more tellingly worded than is the case?
--------------------
SpongeTech Delivery Systems, Inc. Sets The Record Straight
The recent press reports regarding SpongeTech are inaccurate. The major customers cited in the SpongeTech’s financial statements for the fiscal third quarter of 2009 are all current and active customers of the Company.
--------------------
And false? Complete fabrication? Criminal fraud successfully perpetrated?
No end of mindless spew afoot. Ongoing attempt at twisting reality in line with personal agenda and worse. Phantasmagorical orgy. The faithful longs standing strong. Able to sort the wheat from the chaff. Seeing the big picture. Leaving the illusory where it belongs. In the minds of mental midgets.
There being a flood of uplifting formal word and more waiting behind-the-scenes for public release. Just as soon as the OTCBB is back in evidence for us. The point at which all hell breaks loose. The massive upside.
Formal word and more that in finality...
'Sets The Record Straight'
The end of the road for the company's greatest detractors.
An any time/moment proposition.
However it is that management, in consultation with company legal, chooses to address the referenced determinations it behooves all involved, on behalf of themselves and the issuing company and its shareholder base, to expedite a rapid conclusion. To avoid proceeding in a way(s) that prolongs the process. Acting in a collective best interest manner as called for.
Getting on with getting on.
A brand new year in evidence. New products to be launched. Much more. Calling for management's full attention. Full effort and focus. Building a very real company. A budding empire. A global force to be reckoned with.
A new beginning. Market level free to ascend as befits. A welcome end to egregious manipulative practices. A welcome end to any/all reason for doubt. To any/all lingering questions.
The big picture fully emerged.
The future wide open.
Plain and simple.
DP…
Sorry to hear about your illness. Hopefully you're fully recovered at this juncture or will soon be.
My best wishes.
As for company CEO?
No physical illness that I know of. His mind certainly in top form.
The XMDC message being simply an example of just how financially self-defeating a rushing to judgment stance can be.
Valuable lesson learned for many.
Taking care.
Jay...
My having a bedroom fortress of my own.
And indeed.
Exactly what it is that the FINRA OTC Compliance Unit is leveraging in delaying approval of the 211 Application is an unknown. None of us able to say with any degree of certainty. Only that there is much afoot that one can realistically point a finger at.
What we can say is that on the first attempt, some weeks ago, at submitting the 211 FINRA refused to accept it. This time the Application has at least been accepted. Progress having been made. Additionally our knowing that the approval process itself calls for a sufficient degree of publicly available information about the involved issuer. Inclusive of full share structure detail. The facilitation of comprehensive due diligence.
And, so, a tough battle. Caught between a rock and a hard place. Our having heard that the SEC is averse to the opening of the PR floodgates. Currently precluding formal release of matters of the material. With it certainly being clever of management to leverage the company's various websites in circumventing the edicts from above. In getting the ongoing growth/expansion message out.
And certainly the mindless yammering about FINRA being nefariously desirous of protecting certain of its member firms from potential financial catastrophe is just that. Mindless yammering. Blind greed doing indeed strange things to folks. The inside having weeks ago filed certain telling documentation with the SEC regarding abusive shorting practices with subpoenas having been served. And does such speak for, or against, the possibility of a controlled buy-in arrangement having been negotiated? For, or against, FINRA being in collusion with MM criminals? Under the watchful eye of a revamped SEC.
Oh, but then we need, of course, consider the (ahem) very real possibility that Ms. Schapiro and crew are nothing more than the typical political puppets and that the SEC is in on it too!
Hmm?
The whole of it will doubtless get sorted out in the absence of wasted time as talked about. Anything less being entirely self-defeating for all involved. Considering that were it not for the edicts from above management just might decide to open the info./detail floodgates pre-OTCBB. Motivating FINRA to get the lead out.
Interesting days ahead for sure.
And you're welcome.
And get in there and give those kids a hug or two.
Good for the soul.
Ralph…
Good to note that you've calmed down a might. Seeing a might more clearly.
Equities and emotions being a self-defeating mix after all.
All the best to you and the rest.
Staying strong.
P.S.,
Mike...
Not the only one having calmed down?
I'll at least have to thank them for the ongoing readership, hmm?
Kij,
The answers being always in the details.
Never any different.
Letting mindlessly yammer whomever wishes to.
There being absolutely nothing of a damning nature in the Wells notice. Just unproven allegations of minor infractions. The strong likelihood being that the Commission, in its collective wisdom, will take no enforcement action whatsoever.
Our not knowing the precise makeup of the relevant task force. The attorneys involved. So on. No knowledge of the full gamut of subpoenas served. So on. What we do know is that documentation was months ago filed with the Commission. Documents relating to abusive shorting issues. A little factual something that the Commission will factor into the overall equation. More to consider than simply the task force's determinations as outlined in the Wells notice. Other considerations additionally. While some months back Bill Young, for one, made plain the fact that he wouldn't be working for the company were any kind/type/sort of deliberate scam being perpetrated.
And entirely believable same is.
The details being what they are. Inescapable reality. No amount of malicious wishful thinking on the collective part of the peanut gallery crowd altering that reality. Try as they might. No more effective than is spitting into the wind. An exercise in futility. No magical means by which alleged minor infractions can somehow morph into the wholly damning. The investigative activities at an end. The point of rebuttal and potential enforcement in evidence. The strong likelihood being as talked about. No enforcement action taken. The big picture considered. The stellar job that management has done in taking a startup/development stage company to fully operating status. The Dicon acquisition inclusive. Significant asset base. Revenues of worth. Debt free. Cash flow positive. Bottom line success. Market level well on its way to reflecting as called for until panic set in for certain involved parties. The rest of the story known to all.
A new year upon us.
A new beginning in more ways than one.
A host of institutional level monies waiting anxiously on the sidelines for the reemergence of a fitting quotation venue.
Nowhere to go but up.
And seriously so!
The plain and simple reality.
Ralph…
A temporary matter of management having been a tad preoccupied over recent weeks. Hands somewhat tied.
Now at an end. The communication lines reopened. So on.
The day of the faithful longs in the offing.
Payday!
Taking care.
JL,
The power of mere words.
Pen.
Sword.
Carol, et al….
The first fact you need recognize being the specific wording involved...
'The Wells notices advised that the Commission Staff intends to recommend that the Commission bring civil injunctive actions against them alleging violations of the federal securities laws contained in Sections… .'
[ civil injunctive actions ]
'The recommended actions would seek, among other things, permanent injunctions and civil penalties.'
[ permanent injunctions and civil penalties ]
Noting that there is no specific mention of either civil fraud charges of any kind, type, sort nor civil charges otherwise. Only civil injunctive actions and penalties. Noting additionally that, historically, the Commission has only ever taken actual enforcement action in half of the instances in which its staff recommends that action be taken. The situation being as outlined. A matter of interpretation regarding the need for a registration statement(s). A matter of overly aggressive accounting practices otherwise. Nothing of a malicious fraud nature. Nothing of an ill-gotten gain nature. Of personal financial enrichment. No staff determination(s) calling for a far more tellingly worded notice. Just and simply potential civil injunctive actions relating as previously noted. Management potentially permanently enjoined, that is, from entertaining similar securities laws violations (if) in the future. Potential penalties levied otherwise.
Had a clear determination of actual maliciousness, of actual fraud, of actual ill-gotten gain/personal enrichment been made? The notice would have been worded accordingly.
None of it amounting to rocket science even slightly.
It being now in the hands of management and company accounting and legal. Whether to address securities laws interpretation issues, etc. or whether to proceed otherwise.
Interpretation issues based on…
'alleging violations of the federal securities laws'
[ alleging ]
The lack of actual proof.
As for America's Cleaning Company?
A matter of business as usual. Sales ever-mounting. Retail presence ever-expanding. New and novel marketing approaches. New and exciting products coming to market. New hirings. Etc.
As for FINRA and the regaining of the OTCBB quotation?
A matter of arbitration. Dispute settlement.
Our coming trading week to be more than a little interesting. Inclusive of the very realistic potential for a timely shareholder update. The investigative processes being now complete.
Setting the stage for the return to being OTCBB quoted. The opening of the PR and filing, etc. floodgates.
The end of the road for the company's greatest detractors.
The big picture fully emerged.
The undeniable.
That to, very much, smile about.
SJ...
I'll answer your question by way of posing a few questions of my own...
Does the current trading pattern represent an ideal covering opportunity?
Were it you?
Would you act?
Or no?
What, exactly, was the June blogging and nascent FUD routine all about?
What was the objective?
And there I'll leave it.
All the best to you and all others.
Peace indeed.
Jason,
Mensa level IQ's hard at work.
The existence of any phantom float, massive or otherwise, representing anything but an asset. Representing, to the contrary, theft of company assets. As earlier talked about. Mindless greed doing, indeed, strange things to folks. Inclusive of the bipolar routine.
Recalling the reliable mention of a certain party(ies) having not long ago approached the inside. Seeking to 'legitimize'. Seeking an SPNG long position of 300m priced at $0.03 per share. And the current trading pattern? Einstein need apply? Not to mention the spurned opportunity for the inside to have scooped a cool $9m for themselves. Ill-gotten gain indeed. The whole of it kind'a speaking (ahem) volumes, hmm?
Criminals indeed?
All the best.
Skye, et al….
There are always those of a haunting ilk in routine attendance. Prepared to spin in line with personal agenda. However misguided, and infantile otherwise, same might be.
Nothing to get all bent out of shape over. An unchanged matter of massive gross undervaluation at current trading levels. Golden ground floor opportunity. Minor infractions very soon cleared up in full. Settled to the satisfaction of all involved. The future wide open. A brand new year. The details being as presented. And a few examples from prior years…
--------------------
In May 2007, we issued 93,000 shares to our Chief Financial Officer in consideration for advances made in the aggregate amount of $18,600.
In May 2007, we issued an aggregate of 9,539,770 shares of our common stock in consideration for advances of an aggregate of $989,354 by RM Enterprises International, Inc.
The foregoing were issued in reliance on an exemption from Registration under Section 4(2) of The Securities Act of 1933, as amended.
[ issued in reliance on an exemption ]
On July 16, 2008, the Company issued an aggregate of 2,253,436 shares of common stock to Sichenzia Ross Friedman Ference LLP as compensation for legal services rendered to the Company.
On June 2, 2008, the Company entered into a consulting agreement with R.F. Lafferty & Co., Inc. pursuant to which R.F. Lafferty & Co., Inc. agreed to provide certain strategic financial and advisory services to the Company for a two-year term. In consideration for their agreeing to act as a consultant, the Company agreed to issue an aggregate of 2,000,000 shares of common Stock to R.F. Lafferty & Co., Inc.
The Company claimed an exemption from the registration requirements of the Securities Act of 1933, as amended (the "Act") with respect to each of the foregoing issuances pursuant to Section 4(2) of the Act and/or Regulation D promulgated thereunder.
[ company claimed an exemption from ]
--------------------
The registration infractions being obvious in general nature. Relating, as talked about, primarily to issuances to RM Enterprises over time. Commerce considerations. The balance of the details being additionally as talked about. Overly aggressive accounting practices. Lax adherence to certain accepted principles thereof. A great deal of earlier chatter, you'll doubtless recall, regarding the not necessarily subtle differences between booked orders and actual revenues being recorded. A matter of premature recognition coupled with overly optimistic projections and guidance numbers. So on.
None of it amounting to rocket science. None of it anything earthshaking. Civil matters as far as enforcement/potential enforcement is concerned. Management to proceed more cautiously. Being more reliant on the procedural, etc. determinations as per company accounting and legal. The whole of the situation to be soon settled to the satisfaction of all involved parties. And certainly, once all is indeed settled, inclusive of regaining the OTCBB quotation, we have the ideal time to reapproach Deloitte. Seeking the company's long-term involvement.
Once again, all to the good. The whole of it. No longer a window of opportunity as previously. The numbers on the way. The undeniable. Painting an extremely telling picture.
Completion of due diligence.
Pike already massively financially vested. Additional such monies to flood understandably in.
Total no-brainer at the current cost of admission.
Nowhere to go but up.
And hugely so!
Massive multi-bagger in the making.
SPNG millionaire$ indeed.
As for moi?
Having added 200k over this past trading week. Intent upon additionally adding over our coming trading week.
Before the OTCBB is once again in evidence for us.
Before all hell does indeed break loose.
Payday!
Regards to you and all others.
Kyle, et al.,
A little food for thought...
(July 6)
'SPNG ... is pleased to announce that the company has expanded its operation into Europe, forming SpongeTech(R) Europe. This expansion is in response to the growing demand for SpongeTech(R)'s products in the European marketplace. The company will open a new office in Switzerland. They will also be opening the Asian Market - updates will be coming soon.
Management has determined that having a physical presence in Europe will serve to expedite sales in this market and provide stronger service to our European customers. The new offices will provide the European, Middle Eastern and African markets with SpongeTech(R)'s unique and innovative reusable cleaning product line that currently includes the Car Care, Child Care, Home Care and Pet Care sponges.
"We have existing strong relationships with key European retailers," said SpongeTech(R)'s COO, Steven Moskowitz. "By committing to a European presence, we are expanding our footprint and leveraging our relationships, resources and experience to create further success for SpongeTech(R)'s products globally. There is a growing demand for our unique and innovative product line and we believe that demand will continue to spread through the markets overseas. Our sponge is not just a sponge, but The Smarter Sponge(TM)."'
As for the rest of the story?
A matter of a little creative accounting. Management getting a tad too far ahead of themselves. Too aggressive relative to the issuance of securities to RM Enterprises. To maintaining the parent company as entirely debt free. Equally overly aggressive relative to the manner in which revenues have been recognized. Additionally, the way in which current assets have been accounted for. Management being desirous of both attracting a fitting buyout offer and precipitating a near-term move upstairs. Securing a senior listing.
None of the relevant task force's determinations amounting to any kind of a rarity relative to the industry big picture. With no direct mention of disgorgement for obvious reasons. That the whole of it is not a matter of ill-gotten gain on a personal level. A matter, instead, of run-of-the-mill aggressive accounting practices. Far from unique goings-on in general. Additionally, the issuance of securities in the absence of having effected the called-for registration statement. The whole idea being, after all, to issue securities to RM Enterprises and thereafter repurchasing same at the original price(s) paid.
The upshot being that a material restatement of the fiscal '08 and '09 numbers has been effected. The relevant fiscal '10 Quarterly numbers additionally adjusted. The situation set right with management to be enjoined from entertaining similar securities laws violations in the future. Permanent injunctions in place. Standard operating procedure. With possible pecuniary measures in play additionally. Payment of minimal damages or a fine(s).
The restated numbers to be soon with us. Numbers to, very much, smile about. Just not quite as aggressive as earlier presented. Management having been reigned in. No longer overly aggressive in bringing tangible value to the company's shareholder base.
The whole of it all to the good. Getting the job done the right way from here on out.
Very soon back to being OTCBB quoted. The PR and filing, etc. floodgates opened thereafter. The big picture fully emerged.
Completion of due diligence.
Just and exactly why Pike's involvement. Why the massive vested financial interest.
The future wide open.
With no looking back.
Holding tight.
Kelly,
Affirmative.
And nothing to get excited about.
The involved '849109103' CUSIP Number being duly presented per the Title Page of both the SC 13G and SC 13D filings. Clearly denoted.
The '849109109' CUSIP Number presented per the SC 13D follow-up Pages representing nothing more exciting than a simple transcription error.
Bearing in mind that a change of CUSIP Number, however company event(s)-based, is a matter of the material. Calling for timely, full and fair disclosure. As per SEC rules/regs.
Noting, additionally, that Pike's total holdings do not represent a new equity issuance(s) but, rather, purchases via the open market. A single Class of common stock.
And, ergo, nothing to get excited about.
What there is to get excited about is in the offing. The big picture fully emerged.
America's Cleaning Company
The fiscal '08 numbers re-audited with no need of a restatement. The fiscal '09 numbers re-audited with the bottom line materially restated to the upside.
The fiscal '10 raw numbers picture to, in the absolute, get excited about.
And on from there. Sales ever-mounting. New and exciting products in the pipeline. New and exciting marketing efforts. Ever-growing retail presence. Money in the bank.
Total no-brainer at the current cost of admission.
Fun and exciting trading sessions to come.
SPNG millionaire$ in the making.
And all the best.
To you and all others.
Jay,
The SC 13D clearly delineates…
'If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box x .'
Noting the 'x'. Box checked.
And from Part/Section 240.13d-1(f) of the General Rules and Regulations, Securities Exchange Act of 1934…
--------------------
(f)(1) Notwithstanding paragraph (c) of this section and §240.13d–2(b), persons reporting on Schedule 13G (§240.13d–102) pursuant to paragraph (c) of this section shall immediately become subject to §§240.13d–1(a) and 240.13d–2(a) and shall remain subject to those requirements for so long as, and shall file a statement on Schedule 13D (§240.13d–101) within 10 days of the date on which, the person's beneficial ownership equals or exceeds 20 percent of the class of equity securities.
(2) From the time of the acquisition of 20 percent or more of the class of equity securities until the expiration of the tenth day from the date of the filing of the Schedule 13D (§240.13d–101) pursuant to this section, the person shall not:
(i) Vote or direct the voting of the securities described therein, or
(ii) Acquire an additional beneficial ownership interest in any equity securities of the issuer of the securities, nor of any person controlling the issuer.
--------------------
And the entirety of Part/Section 240.13d-1...
http://ecfr.gpoaccess.gov/cgi/t/text/text-idx?c=ecfr&sid=3970931693520ffa3652e290a2108dba&rgn=div8&view=text&node=17:3.0.1.1.1.2.77.173&idno=17
The SC 13G reflecting…
'Collectively, the Reporting Persons beneficial ownership of 142,000,000 shares of Common Stock represents 19.6% of all of the outstanding shares of Common Stock.'
[ 19.6% ]
The SC 13D reflecting…
'Collectively, the Reporting Persons beneficially own 145,570,000 representing 20.1% of the outstanding shares of Common Stock.'
[ 20.1% ]
And additionally…
'The Reporting Persons acquired the shares of Common Stock for investment purposes in the ordinary course of business.'
The whole of the situation being straightforward enough. An astute collective investment based on ongoing constructive dialogue as talked about. Loading up at lowest possible cost. Timeliness. All hell about to break loose. Market level soaring!
Once the big picture emerges in full?
Worthwhile analytical coverage will soar. Reuters Company Research and a whole host additional.
The smartest approach, at this juncture, being to focus on institutional level monies. Monies to, very soon, start flooding in. The retail contingent being the least of it. With retail alone having taken market level to our interim High of $0.2851. And under far different share structure numbers circumstance than is the current welcome reality. Not to mention the fundamental and operational advancement otherwise. Inclusive of the 100% acquisition of Dicon in July.
The big money folks.
Completion of due diligence.
Golden stamp of approval.
Golden ground floor opportunity.
A whole host of welcome surprises in the offing.
No shortage of SPNG millionaire$ in the making being what we're talking about.
Massive ROI.
The dollar$ variety.
Watching and learning.
Jay,
Happy Holidays to you and all others.
May all be as hoped for worldwide.
As for our budding empire?
Pike's earliest investments in Parlux having proved up. Being well-timed. The bottom called. And based on ongoing constructive dialogue with Parlux management and BoD otherwise. Investments involving significant working capital applied via the open market. With certain other of Pike's 'investments' over time having arisen courtesy of convertible notes being duly exercised. Different kettle of fish in the altogether.
As for Spongetech?
As with Parlux. A series of astute investments. Well-timed. The bottom called. Based on ongoing constructive dialogue with Spongetech management and BoD otherwise. Spurring the application of significant working capital via the open market.
And investments indeed. Nothing more. Intent of turning eventual worthwhile profit based on the simple opening and closing of long positions. A matter of funds and portfolios. Standard operating procedure. Nothing additional to be read into the situation. Pike management having simply astutely invested. Parlux and Spongetech. Having performed the called-for due diligence.
A brand new year about to be launched. The future wide open for our budding empire. Inclusive, as always, of the possibility of a fitting buyout offer coming to the table. Of Spongetech management, additionally, entertaining continued M&A activity. Another wholly owned subsidiary, or two, in the fold. Dicon already with us. The welcome value-adding.
The ongoing investigation nearing completion as of this writing. Loose strings stage of the goings-on.
As for the impact of tax-loss selling season?
Remaining to be seen.
Just what our coming trading week has in store in the overall. The way in which the inside chooses to proceed. In the ongoing best interest of the company's shareholder base.
The bottom line being that there's simply no magical means by which an ongoing flood of lies and deceit/distortion can somehow morph into reality. Pike having stepped up to the plate. Many of the rest of us additionally. Having astutely maneuvered. Collective faith well-placed. Much more.
Massive ROI in the making in the absolute.
A matter of any time/moment.
Back to being OTCBB quoted. The PR and filing, etc. floodgates thereafter opened. A flood of institutional level monies entering. In line with completion of due diligence. The achieving of the $0.50 level amounting to a cakewalk as talked about. And on from there.
The NCM achieved the shareholder respectful way. The way it was, in the absolute, meant to be. Before criminal entities came to the fore as they did. Panicked as they were. And now at an end. Nearing same. No more an open door to egregious manipulation. An, instead, golden stamp of approval from the regulatory powers that be. A modicum of assistance. The future wide open.
America's Cleaning Company
An eventual global force to be, very much, reckoned with. A budding empire. Golden ground floor opportunity to be not spurned/ignored.
Massive ROI an any time/moment proposition.
The fencesitters among us set to scrambling. The chasing fun and frolics as market level soars far in advance of our interim High of $0.2851. In line with issuing company fundamental and operational realities. The big picture fully emerged.
A fitting earnings multiple factored in.
Dollar$ reality.
Enjoying all that the holiday season has to offer.
Staying safe.
Salty,
You're welcome and thank you.
As for the question?
Original reply was posted on Dec. 13th. Checking my history you'll find what you're looking for.
As for the enhancement?
Truly awesome.
Well done.
A telling picture. "re-audited nr's" and all.
Thanking you kindly on behalf of all. My taking the liberty of reposting your telling indeed presentment for the benefit of any who might not yet be aware. The details of your recent visit to HQ...
---------------------
Now to my meeting with SM.
* the 2 auto shows; I got to see a pile of printed pages of all visitors to the SPNG booth, buyers etc. We are talking in the high hundreds, and from many countries around the world. Indeed a good job done by management. The pile being almost as tall then the senate health care bill. Not kidding.
* ever saw the first car wash kit? Well, worth seeing it in his package, and learn to apreciate a management wanting to improve-and actually improve. A world of a difference.
* without knowing the OS, but for sure less then 722mm
* re-audited nr's better then general street level.
* excellent products on the way...
The is more but you know it better then me, I just wanted to enhance your thread.
--------------------
And more indeed. Sales ever-mounting. A matter, in the absolute, of our having collectively stepped in something good. Risk/reward as good as it ever does get. Total no-brainer.
And keep up the good work as together...
We win.
Best of the season to you and yours.
Rob…
Hello to you and thank you.
Great to hear from you.
And lol for sure.
A takeover in more ways than one, hmm?
As for those you reference?
A little dose of reality seemingly having elicited a might of consternation among the unwashed masses. Mindless greed doing strange things to people.
Sad story indeed.
Pigs getting fed, hogs getting slaughtered.
Management hard at work taking a startup/development stage public company to fully operating status. A series of divisions in the form of wholly owned subsidiaries. The appropriate corporate structure. Becoming a global force to be reckoned with. Bringing tangible value to shareholders.
With definitely a few setbacks.
Just nothing of the fundamental/operational variety. The inside having numerous times advised company shareholder base to simply ignore the ongoing twisting of reality routine. The whole of it carrying no weight. No legitimacy involved. As clearly evinced by the degree to which aggressors are now backing off. The twisted truth becoming untwisted.
A single blogged post of June 11th authored by 'The Dean'. Coupled with the nascent FUD routine. All that same, together, precipitated. The whole of it long ago stultified we're it not for the Drakeford & Drakeford setback.
The telling part being the degree to which aggressors are now backing off one by one. The details known to all. Our friendly neighborhood blogger having long ago expunged the lies and deceit/distortion. The wholly incriminating.
Speaking volumes. Saying all same has to/needs to.
Sheerluck Holmes needing to not apply. Not even slightly.
Telling, it is, how the whole of the proceedings became so twisted. The truth so mangled. So many among us only too ready to believe the worst. To swallow utter nonsense hook, line and sinker. Some, as we've heard, having bailed to the tune of losses exceeding $100k. Having, by some magical means, seen that which isn't there. Having locked-in massive losses on the basis of nothing more substantive than self-serving spew. Posted to financial message boards and to blogs. Self-serving so-called 'articles' in rag publications additionally.
Truly headshaking. The whole of it.
The fiscal '09 numbers ready to go. In the pipeline. Headed for primetime. And then coming the revocation. The fallout from same.
Wild imaginings thereafter taking hold. Taking root. Running rampant. The clear-thinking among us having loaded up. Seeing the light. Calm. Sensible. Rational. Awaiting payday. The indeed "inevitable".
The $0.50 level being a cakewalk. As talked about.
The numbers inclusive of latest share structure circumstance. Institutional level monies factored in. Achieving the NCM the shareholder respectful way. The way it was, in the absolute, meant to be. No being forced to proceed otherwise.
The stage set ideally for the breakout long sought.
Massive such.
And congratulations on the position additions. The holdings in full.
With a post-payday celebratory get-together with yourself and Nelson and others being more than appealing. An -- I'm there! -- situation. And particularly if Florida. Given the season.
Chatting with you soon.
All the best.
Wookie…
No worries.
No offense taken.
And well-stated.
Much to give thought to for sure. Complete with a need of separating the wheat from the obvious chaff. A need of seeing things from management's perspective. The view from the inside. Big business considerations. The degree to which company legal and accounting are involved in all of the proceedings. Far from being as simple, as cut and dried, as necessarily straightforward as the casual observer might at first think/believe. Time-consuming. Expensive. Highly convoluted. So on. The proceedings in full. The view from the inside.
And easy it is, as we all well-know, to self-servingly spin the goings-on. To twist the truth. To have folks seeing that which isn't there. Being led self-destructively astray.
The bottom line being that, step by step, the twisted truth is very much becoming untwisted. Aggressors backing off. The big picture ever more clear. The substantive.
And upon the arrival of the undeniable? The telling truth? The big picture in full?
And, need I say it?
The company's greatest detractors and a matter of being faced with having authored their own collective misfortune?
Faced with having to dine on one's own words?
The day of the faithful longs indeed.
In more ways than one.
Almost home.
#268905...
PM's,
Thank you.
SJ…
No argument, whatsoever, on the facts vs. 'rumors' consideration.
But having said that we need remind ourselves that these boards are about discussion. Discussion/discourse inclusive of all of personally performed due diligence, speculation, rumor, personal opinion, etc. Sharing. Supporting one another. Supporting one's own investing/trading interest. Mutual financial benefit.
My own private side sources I've talked about. Sharing publicly what I'm at liberty to so share on the subject. And no. The mentioned agreement isn't a graven in stone turn of events. It's simply what I'm, again, hearing. And upon rationalizing the possibility of it all, the whole of it does make sense. Does add up. For reasons indeed discussed.
As for your own source(s) on the subject?
Well, t'would be interesting to hear just how close to the inside same is/are. Telling us much. A frame of reference, if you will.
And on the assumption of no agreement?
Well, I for one won't be shedding any tears. For, again, it's about fundamental and operational realities for me. Company true value circumstance. Quality of management.
In early to mid-June we had what we had. Steady ascent to an interim High of $0.2851. With then the ugliness emerging. The view from the inside being all about achieving a stable average trading base commensurate with securing an NCM listing. The shareholder respectful. A plan wholly undermined by a self-serving flood of lies and deceit/distortion. The inside forced, eventually, to proceed in opposition to earlier stated word regarding a reverse split. Declaring 1:100 intent.
And?
Well, the phantom float is certainly a factor. An agreement to rid us of same, in large part, being welcome. The involved criminal entity(ies) no longer motivated to twist reality. To prevent market level from ascending in line with company growth/expansion realities. Ongoing business plan and model implementation. Though better to eliminate said float in full.
And, so, okay.
We have the rationalized bit about the referenced entity(ies) seeing no escape. Toiling mightily as they have. Undermining the issuing company and market level as best can be accomplished. And we spoke, many weeks ago, about the undeniable. The coming audited numbers. A welcome end to the lies and deceit/distortion routine for obvious reasons. Market level free to ascend in line with company true value circumstance plus fitting multiple. The existence of the phantom float factored in. No small consideration.
And then?
Well, then the revocation. The official declaration of the need for a re-audit. No restatement. A delay in the arrival of said undeniable. A window of opportunity for the criminal element. Leading to that which it has.
The documentation regarding the existence of the phantom float filed as talked about. A flood of complaints from self-serving parties folded into the overall proceedings. The rest of the story.
And in the event of no revocation? No need for a re-audit? The undeniable emerged in timely fashion?
Market level soaring?
The MOASS precipitated?
It being all about achieving a senior listing. The NCM. The view from the inside. A pps in the $1.00 area obviating the need for a reverse split of any magnitude.
And, so, what OF the phantom float?
Well, word having it that latest share structure detail will be a welcome eye-opener. And , certainly, same does fit as rationalized. Buyback and private accounts. So on. Loading up. Filings to come.
And, so, the phantom float.
A bane?
Or a boon?
Readily precluding the achieving of the $1.00 area?
Or the road to riche$? A cakewalk achieving the $0.50 level? The MOASS precipitated from that point?
Better an agreement?
Or no?
And recalling...
--------------------
Q: Bill are you working with the SEC in regard to the illegal shares?
A: We have filed all the necessary paper work with them.
Bill said that as a company are very limited on what they can do. They are not that worried about it because they are profitable "and at the end of the day profitability wins". He restated they do have a plan. I got the feeling they are working with the regulatory agencies i.e., SEC.
Bill Young. He confirmed the existence of illegal shares and said they have filed the appropriate forms with the SEC.
I mentioned the Illegal share toward the end of our conversation. I said "I'm glad you guys have a plan" And he responded…
"revenue and profit that's our plan"
--------------------
Revenue and profit.
And a fine plan?
Company share structure to smile about. The latest word. PLUS a potentially (if no agreement) truly massive number of 'shares' (ahem) floating about.
And the answer?
A bane?
A boon?
The NCM and a staggering ROI?
Or back to square one?
What we CAN say is that the existence of the phantom float didn't preclude achieving our interim High of $0.2851. With the strong buy-side still very much in evidence at the time. Prior to the boards-based FUD routine getting seriously underway.
And, doubtless, you recall…
"BIG DUMP COMING!!!"
"SEC INVESTIGATION!!!"
"SELL, SELL, SELL!!!"
And a blessing in disguise. The whole of it. Being under that proverbial microscope.
At this point in the proceedings the relevant task force having convinced itself of the full legitimacy of America's Cleaning Company. With a massive number of eyes in understandable close attendance. Being hugely attentive. Both retail and institutional.
In June?
Company share structure circumstance a lot less inviting than is the current reality. While the degree of institutional level involvement was minimal at best.
The upshot of it all amounting to nothing more than simple logic dictating that, come the regaining of the OTCBB quotation followed by the opening of the PR and filing, etc. floodgates, all hell breaks loose!
Retail and institutional monies flooding in.
The $0.50 level very much a cakewalk.
As for the MOASS?
We wait.
We find out.
"revenue and profit that's our plan"
And a fine plan it very much is.
The inside having made clear, not so long ago, that based upon company fundamental and operational realities in full, all of the tangible and intangible taken together, the $1.00 area represents a base true value.
And factoring in the effect of an applicable earnings multiple?
A senior listing. The NCM. The view from the inside.
A blessing in disguise.
Golden stamp of approval.
Retail and institutional monies anxiously waiting.
Simple logic very much dictating the day of the faithful longs.
"revenue and profit that's our plan"
A fine plan in the absolute.
Carol…
Seen here…
http://stockcharts.com/h-sc/ui?s=SPNG&p=D&yr=0&mn=1&dy=0&id=p36064229628
Cav,
To repeat…
Already addressed.
Post #268679.
(See below.)
And, as earlier stated…
The inside hosts no interest, whatsoever, in dealing with the author. A matter of persona non grata. Wholly unwelcome.
Bearing in mind that insane speculation, such as near-term trading levels far in advance of $25.00, isn't the answer.
Said author having displayed nothing (ahem) short of sheer mania at times. In some of his more colorful presentments. Ranting and raving. Name-calling. Vulgarity. Crudity to the point of crassness. Exhibiting extreme defensiveness in the face of having any of his more absurd viewpoints challenged in any way. To any degree.
It being more than a little obvious that the collective position held represents investing/trading principal that cannot affordably be lost. Resulting in the mania often displayed. The extreme defensiveness.
Any/all challenges to the insane speculation met with a middle aged six-year old routine at best.
Sad story.
A need of remaining realistic. Of maintaining composure at all times. Of, certainly, avoiding potential financial disaster for one's self. Avoiding blind greed.
The reality being that the MOASS is far from an impossible turn of events. No argument. With the advent of any such calling for, not simply the significant upside, but the sustained such. Continued advancement over time. Any significant weakness and it simply won't happen. Weakness, that is, of the fundamental and operational variety.
And, thus, the reason why earlier I spoke of that which always feeds that proverbial bulldog i.e., the ongoing forward periods picture.
Projections and guidance.
Earnings.
The best chance for the MOASS being realized coming in line with neither the past nor the present, but the future.
The guilty seeing, more than clearly, that the opportunity to cover at lowest possible cost is a matter of sooner rather than later.
With my harboring no personal ill will toward Doug. But he need definitely to come back down to earth and to routinely conduct himself in a manner fully commensurate with his age and overall station in life.
And, as earlier stated, whether the talked about agreement proves up as fact or fiction carries little weight for me.
Post #268905.
Found also at that 'other place'.
--------------------
Kelly…
Affirmative.
And sure. I'd be happy to.
With a need of bearing in mind that our good friends Alfie and crew have, from day one, maintained a massive collective vested financial interest. Steadfastly clinging to the prospect of the eventual advent of the MOASS. The relevant posting histories being there. Talk of $25.00 being the least of it. So on.
And "dreaming"?
Blind greed?
Massive wishful thinking?
As for legality?
What would be illegal would be if management had earlier acceded to the appeal for a 300m long position priced at $0.03 per share. Having issued the stock. Scooping a cool $9m for themselves in the process.
Wholly illegal.
Illegal being the plain and simple existence of the phantom float. NOT its mandated elimination via the open market.
My understanding being that the agreement exists. As outlined. The serving of subpoenas having revealed all as talked about. And on from there.
And it certainly fits. The whole of it.
No argument.
The whole of it being, in the absolute, in the best interest of the issuing company and its shareholder base. For extremely obvious reasons.
Total no-brainer.
No amount of "dreaming" indeed altering plain and simple reality.
Just for the record.
Of course.
--------------------
JL,
#268660...
Salty,
Shorting activity, at its simplest, amounts to selling that which one doesn't own. The object being to borrow an extant long position for selling purposes. Repurchasing, at profit, in the open market thereafter. Returning the acquired position to the party/parties originally borrowed from.
Failure to, at the very least, arrange a borrow in the first place resulting in what's called a naked short. A host of such activity resulting in the creation of a significant phantom float.
The 'shares' in question represented behind-the-scenes as IOU's. Book entries. A 'position/positions' in need of being bought-in i.e., covered. Open short positions closed. A buy-in.
A controlled buy-in being that which takes place gradually. In the absence of sparks/catalysts that would precipitate the additional massive buy-side. The serious upside.
The absence of a 'squeeze'. Buying-in at lowest possible cost.
Controlled. Deliberately orchestrated.
All of us well-realizing, as an example, just what would have been precipitated, at market level, had the inside earlier filed the Form 211 and Addendum to a successful outcome followed by the opening of the PR and filing, etc. floodgates.
The whole of the goings-on serving to massively reduce a pre-existing phantom float. Sending a telling message, in general, additionally. That egregious abuses will no longer be tolerated.
The future wide open.
All to the good.
And sure. The MOASS would've been awesome. And who, again, knows what's to come once the market level fireworks do get underway in earnest.
We shall see.
The reality being that once the undeniable does emerge, in full, market level will rocket! Huge entering/adding interest. Massive retail and institutional level monies flooding in as the forward periods picture becomes ever-clearer. Projections and guidance. That which always feeds that proverbial bulldog.
An agreement having been arrived at. A meeting of the minds.
With yours truly, for one, harboring no argument whatsoever.
None.
And hope this helps.
Bryan...
The post-suspension weekly trading stats….
07-DEC-09 0.0500 0.0350 0.0490 51406750
30-NOV-09 0.0500 0.0400 0.0500 51423380
23-NOV-09 0.0600 0.0400 0.0500 38682770
16-NOV-09 0.0500 0.0400 0.0400 50727760
09-NOV-09 0.0620 0.0400 0.0460 98723600
02-NOV-09 0.0575 0.0400 0.0490 111050100
26-OCT-09 0.0600 0.0200 0.0480 112750400
19-OCT-09 0.0670 0.0200 0.0520 662869200
Jay…
You're very welcome.
With a need of bearing in mind the actual motivating factors behind the suspension. The cessation of trading in place following a precipitous drop from above the $0.20 level. Protecting shareholders from further shorting abuses. A break in the proceedings. Cooler heads prevailing.
The company's greatest detractors twisting, as always, the truth.
And thank you for a well-written, well-considered reply in general.
Together, we win!
To-smile-about ROI.
That which management has every intention of delivering.
As PR'd...
(July 22)
'SPNG, today announced that its Board of Directors has authorized an increase in its stock repurchase program from 100 million to a maximum of 150 million common shares.'
'SpongeTech®’s CEO, Michael Metter stated, “Based on our sell-through rates across our product lines and the success of our marketing campaign, we are anticipating strong growth within the Company this fiscal year. Even at current market price, we feel the stock is very much undervalued and we are committed to support and maintain the fundamental value of our Company’s stock.”'
'“Today’s action demonstrates the Management and Board of Directors strong confidence in the long term strength of the Company’s cash flow generation as we intend to continue reducing our share structure. We remain focused and committed to building SpongeTech® into a globally recognized Company, therefore enhancing shareholder value,” added SpongeTech®’s COO, Steven Moskowitz.'
Having a good one.
You and the rest.
P.S.,
Spino...
Just a note to say hello.
To wish you and yours all the best for the holiday season.
Your contributions to the board being sorely missed.
Taking care.
Kevin,
I wouldn't know.
I simply skip over them.
A veritable mountain.
As for the question?
The situation viewable as a potential chain of liability.
On the assumption that, domestically, we're talking collusion between an MM and a large client of same i.e., a hedge fund?
The possibility of multiple such players?
Well, it's likely in the extreme that the advent of a successfully served subpoena or two, having revealed the existence of massive IOU's in private accounts, would see the involved MM calling upon said client to close out the involved 'position(s)' in full. Bringing pressure to bear.
As, in the absence of any such, the involved MM would be liable.
And any/all initial subpoena activity would, of course, be directed the MM's way. The place to start. And on from there as called for.
Bearing in mind the mentioned appeals to the inside to 'legitimize' the criminality. A little something far more likely to have emanated from a slimy hedge fund than from an MM.
Our knowing, one way or another, soon enough.
And me? Yours truly?
Well, I'm a realist.
Of the in-general mindset, like most of the rest, that the MOASS would be most welcome. But far from banking on any such. At any point in the proceedings. My original investment based on quality of management. On issuing company fundamental and operational soundness. Typical risk/reward scenario. With additions to said investment based similarly.
Bill Young having made plain the situation. And, hopefully, I'll be forgiven for not sooner publicly conveying my heartfelt condolences regarding the recent passing of his mother. May she rest in peace.
Addressing the phantom float situation being a tough row to hoe. Management having turned to the regulatory powers that be for assistance.
Our knowing the full outcome soon enough.
And thank you.
Kind words appreciated.
Jeff…
Good to know.
Thank you.
As for that wager?
A sound move.
Your faith well-placed
And best of luck to you also.
In whatever pursuits you might choose to turn your energies toward.
Best of the season to you.
4kids,
Our coming trading week holding realistic potential for official word regarding regaining the OTCBB quotation. The rest falling into place thereafter as talked about.
As for a deadline?
I have no insight on the subject. Cannot say.
As for the regulatory agencies?
The relevant task force having served subpoenas as needed. Having secured sought-after info./detail. And on from there.
Exactly how the talked about agreement came, exactly and precisely, into being is a current unknown. Part of what we do know/have heard is that criminal shorts have, on more than one occasion, appealed to the inside in an attempt to 'legitimize' the criminality.
And now the regulatory agencies. Management having, weeks ago, filed the necessary documentation. Appealing, themselves, for a might of cooperation.
Not too difficult to string the bits and pieces together.
How it all came to be.
The upshot being the welcome phantom float reduction. The in-general message sent.
The future wide open.
It being understandable that, given all, management would be maneuvering to leave the games behind. Time, after all, to get serious about America's Cleaning Company. To successfully implement company business plan and model in their entirety. To achieve stated operational goals. Getting past the market level miscreancy. Achieving a senior listing the shareholder respectful way.
America's Cleaning Company being no joke. Only the market level goings-on. The inside having been taken by surprise. The degree, that is, to which initial marketing efforts succeeded. Far beyond expectation as we've heard. The latest private side chatter fully supportive of continuing numbers accretion. The latest share structure detail to be a welcome eye-opener.
The issuing company being not the problem. Never having been.
All being well.
More than.
Time to get indeed serious. To escape unwelcome bonds.
Time, in essence, to move upstairs.
The future, indeed, wide open.
Our coming trading week holding the mentioned potential.
And there I'll leave it as I know you're busy…
"my kids and their activities keep me going"
Not to mention the furbearers in the household.
Kelly…
Affirmative.
And sure. I'd be happy to.
With a need of bearing in mind that our good friends Alfie and crew have, from day one, maintained a massive collective vested financial interest. Steadfastly clinging to the prospect of the eventual advent of the MOASS. The relevant posting histories being there. Talk of $25.00 being the least of it. So on.
And "dreaming"?
Blind greed?
Massive wishful thinking?
As for legality?
What would be illegal would be if management had earlier acceded to the appeal for a 300m long position priced at $0.03 per share. Having issued the stock. Scooping a cool $9m for themselves in the process.
Wholly illegal.
Illegal being the plain and simple existence of the phantom float. NOT its mandated elimination via the open market.
My understanding being that the agreement exists. As outlined. The serving of subpoenas having revealed all as talked about. And on from there.
And it certainly fits. The whole of it.
No argument.
The whole of it being, in the absolute, in the best interest of the issuing company and its shareholder base. For extremely obvious reasons.
Total no-brainer.
No amount of "dreaming" indeed altering plain and simple reality.
Just for the record.
Of course.
Albus,
It's necessary to look at the facts.
And being in the legal profession, you're well aware.
Starting with the fact of the phantom float coming into existence during prior years as talked about. Coupled with the fact of legitimate shorting activities having come in concert with the June blogging and FUD routine.
Both of which having been damaging.
The phantom float being a pre-existing phenomenon. Coming into being prior to the current regulatory environment being the reality. And long ago I challenged certain posters to this board to fully outline just how an entity, domiciled domestically or offshore, can, under current rules/regs., create and maintain as hidden massive abusive shorting activities.
And, far from surprisingly, there coming not so much as even a single reply.
The phantom float being, again, a pre-existing phenomenon.
And based on the fact of certain of the involved parties having made appeals to the inside to 'legitimize' their abusive antics, it has been rightly seen by many of the faithful that said parties see no escape. That it was simply a matter of time before the MOASS was, very much, precipitated. A scenario fully supported by the June ugliness. The glaring way in which the upside momentum was stopped in its tracks and reversed. Fear having set in. Outright panic.
With significant ill-gotten gain locked-in courtesy of legitimate shorting activities. The downside precipitated courtesy of a flood of lies and deceit/distortion. Shorting activities ongoing since. Positions opened. Positions closed. As it should be. Though there arose FTD's courtesy of our climb back above $0.20. Eventually cleared up. Talked about at length.
And now having what we have.
A meeting of the minds. A controlled buy-in plus the offshore angle.
And what exactly will transpire when market level advances beyond the $0.50 level? Which it most assuredly will. Institutional level interest and all. The big picture fully emerged.
Well, there's none of us can say with any degree of certainty.
All we CAN say is that the phantom float isn't being fully addressed. Only the greater part.
A squeeze play being, therefore, a possibility. And, particularly, in light of new and welcome legislation being on the table. Addressing offshore abuses and more.
With yours truly having taken full advantage of a massive entering/adding opportunity. Having massively loaded up. Bargain basement pricing to be not ignored/spurned.
The full value acquired at $0.04 to $0.05 per share amounting to an industrial strength no-brainer.
For me? At this juncture?
It's not about a squeeze play.
It's about an ROI based on issuer true value. Complete with the effect of a fitting earnings multiple. Complete with advancement to a senior listing the shareholder respectful way.
Market level soaring!
The plain and simple reality.
Retail and institutional level monies flooding in in line with the big picture fully emerged. Inclusive of latest share structure circumstance. Favorable adjustments. And think the buyback activity hasn't been intense of late? The buying in the open market for personal accounts additionally?
The full legitimacy of America's Cleaning Company. The capability/competence of management and BoD otherwise.
Cash cow reality.
Budding empire.
Completion of due diligence.
Monies flooding in.
Golden ground floor opportunity.
An ROI to truly smile about.
Early Xmas present.
As plain and simple as one can make it.
And you're welcome.
Jay,
Hello to you.
And you're very welcome.
As for the boards-based goings-on in general?
Though far from representing a popularity contest, kind words are always appreciated.
Thank you.
As for the mentioned meeting of the minds?
The buy-in agreement representing the reason why the Form 211 and Addendum weren't filed with FINRA as originally slated. Plans having changed once again.
As for the full reasoning behind said agreement?
As talked about. An expensive proposition fighting the good fight. The fact of what Bill Young had to say. A tough row to hoe. Forcing full disgorgement. With a need of bearing in mind that the vast majority of the phantom float was created during prior years. Times when management was issuing PR's on the subject. Telling of intent to do what could be done to counter the situation. To prevail.
The strong likelihood being that, as far as the domestically domiciled is/are concerned, we're talking about that which was discussed earlier. That massive amounts of IOU's lie in private accounts. FTD's having been long ago taken ex-clearing. The advent of general power of subpoena having led to the revealing of all. The buy-in agreement resulting. A meeting of the minds.
And are we talking disgorgement in full? Or ill-gotten gain in large part?
Well, again, we need recall the prior years reality. Average trading levels of the times. My not hesitating to suggest that at an average price of, let's say, $0.045 per share the guilty are feeling some pain. With a need of additionally bearing in mind the fierce battle that said guilty have waged from June 11th onward. Having felt some obvious serious heat as market level advanced. And who knows what would have resulted had the weak-handed not caved-in to the lies and deceit/distortion routine. Had market level continued its steady advance. In line with company true value circumstance complete with the effect of applicable earnings multiple.
We might have indeed seen the MOASS.
But alas!
Wasn't to be.
A simple need of recognizing the fact that management chose to reach out to the regulatory powers that be in addressing the abuse. Filing the necessary documentation. Clearly delineating the existence of a massive phantom float. And who again knows? Perhaps in all of it there will come the launching of legal action. Management going that extra mile relative to that portion of the phantom float that lies unaddressed once the current buy-in is complete.
We shall see.
The bottom line being that management did reach out. Did seek regulatory involvement. An informal investigation launched. Advancing to formal status once preliminary indicators had proved up. And, so, it's understandable that any/all input from the relevant agencies would be given a great deal of weight. Management cooperating in full. Agreeing.
The simple reality being that the buy-in agreement sees a massive phantom float significantly reduced. My personal guesstimate being in the 550m area.
And…
550m x $0.045 average = $24.75m
Not exactly pocket change.
And will there come a fine or two? Regulatory enforcement in more ways than one?
Well, again, we shall see.
Just suffice it to say that we're talking about a major improvement. A far more level playing field. With the regulatory attention, in the overall, serving to provide pause for thought. The future wide open.
There being a great many fantasy purveyors among us for sure. Ever hard at work attempting to twist reality. To have the faithful believing that which represents anything but actual fact.
The investigations situation being what it is. As outlined. Documents having been filed. Investigations launched. And, again, it's only simple common sense that the relevant task force would seek, in all of the goings-on, to convince itself of the full legitimacy of the issuing company. Entirely understandable. A fact that the company's greatest detractors have seized upon with relish. Twisting madly.
And so be it.
There's simply no morphing of fantasy into fact.
Nothing but wasted words. Time lost. Time and effort unrecoverable.
America's Cleaning Company continues its unrelenting march toward stellar retail success. A budding empire. Fundamental and operational soundness. The matter at no point being the issuing company. The problem being market level from the get-go. Being ongoingly grossly undervalued. With the buy-in agreement going a long way toward righting that particular wrong. The regulatory involvement serving as talked about. As a warning to all to not stray from established rules/regs. The SEC being now guided by an individual entirely capable/competent. Someone steadfastly determined to ongoingly honor the agency's primary mandate of protecting the little guy/gal.
And, certainly, not before time.
And, so, there you have it.
All being well.
More than.
Our coming trading week holding great promise for a return to being OTCBB quoted. A flood of PR's and filings, etc. to follow. Market level soaring. Retail and institutional level monies flooding understandably in as the numbers prove up. As the big picture emerges in full.
Giving P&G an eventual run for its money.
Golden stamp of approval.
Golden ground floor opportunity.
And, again, you're welcome.
And, again, thank you.
All the best.
Carol,
Not exactly a Herculean task.
Pretty much a cakewalk.
The whole of it.
Just a matter of continuing to hold tight.
Bearing in mind that it's only common sense to routinely support one's own investing/trading interest in the absence of inarguable reason to proceed otherwise.
The purpose of these boards being all about mutually beneficial discussion. The sharing of worthwhile thought. Sharing personally performed DD. Etc. Others simply lurking. Adding no value themselves. Simply feeding off the efforts of the involved. And so be it.
And certainly, as earlier stated, were legitimate red flags to emerge?
I would, most assuredly, proceed accordingly. Sharing my thoughts. My being not interested in simply sacrificing significant investing/trading principal.
The gist being to recognize the start-up/development stage nature of the issuing company. The pre-June move off the bottom coming as a direct consequence of operational refocusing on product development. A strategy pursued in concert with a massive push into retail. Major advancement upon a modest beginnings direct sales model.
A Herculean task indeed.
Breaking the retail barrier.
The ongoing massive marketing effort serving to bring in the needed initial buyers. Parties seeing for themselves the validity of company claims regarding its product line-up. Sales burgeoning to multiple million$ as a result. Products being more than well-received. Receiving accolades. Positive comment after positive comment. Sales ever-mounting.
And in the absence of abusive shorting issues? Absence the June ugliness? The fallout?
And almost home.
As talked about.
Overcoming the worst of it. Seeing to it that the future is very much wide open.
And sure. Given the start-up/development stage nature of the issuing company, it's entirely understandable that burgeoning sales would be questioned by more than a few. Tens of million$ rapidly emerging.
With the truth very much about to emerge.
Just as soon as the stage is set in full as outlined.
Numbers reality. The full legitimacy. The issuing company. Its management team. BoD otherwise.
Criminal shorts having targeted as they did. The OTC typical. Anticipating a failed effort from the inside. The trademark self-defeat courtesy of massive debt load and dilution, etc. But no such. Not even close.
The fact of a line-up of products, of an overall calibre that leave folks wanting more, coming as a great surprise to many. But not to said inside. The reality of Dicon speaking to validity. To viability. To managerial stance.
Criminal shorts having targeted entirely poorly. A business plan and model that simply couldn't fail. A management team, and BoD otherwise, second to none. Getting the job done. Fighting an uphill battle.
And, now, almost home.
The future wide open.
The glaring truth to emerge.
Massive monies pouring in. Retail and institutional. The wholly understandable.
And the telling graphical…
http://stockcharts.com/h-sc/ui?s=SPNG&p=D&yr=0&mn=2&dy=0&id=p96184989009
Mountains of green. Just which way the money has been overwhelmingly flowing from October.
An early Xmas present.
The ROI that the faithful longs have long sought.
The ROI that the inside has every intention of delivering.
Holding indeed tight.
And always a pleasure.
Taking care.
JL, et al.,
There are a number of primary considerations.
The first of which being the fact of business as usual. All being more than well for our budding empire. As earlier talked about. The goings-on behind the scenes. The fact that none of the fallout from the collective activities of criminal shorts having negatively impacted company operations. Sales continuing to mount. Company business plan and model continuing to be successfully implemented. The formulation of new marketing strategies. Gaining an ever-stronger retail presence. Preparing for the introduction of new products. Complete with new hirings. Etc. A budding empire.
The second consideration being the understandable fact of the inside positioned as steadfastly loathe to opening the PR and filing, etc. floodgates in the absence of being once again OTCBB quoted. Simple common sense.
The third consideration relating to recalling a little salient something.
And...
(Mr. Moskowitz from the NFE Conference of June 8th/9th)
"That was one of the things that really helped our stock price going up in the last month. By doing the buyback."
Additionally, recalling the appeals to the inside. Appeals from criminal shorts seeking to 'legitimize' self-serving antics. The last known of said appeals (shared courtesy of our good friend DarkLady) amounting to a call for a 300m long position priced at $0.03 per share. An appeal entirely dismissed by management at the time.
With our having talked, at length, about favorable share structure adjustments over time. The Outstanding count target of approx. 500m.
And again…
"That was one of the things that really helped our stock price going up in the last month. By doing the buyback."
And in June we did see an interim High of $0.2851 with the buy-side pressure remaining strong at the time. Until.
Additionally, recalling a certain shared chat with Bill Young…
--------------------
(August 19)
Q: Bill are you working with the SEC in regard to the illegal shares?
A: We have filed all the necessary paper work with them.
(August 19)
Bill said they as a company are very limited on what they can do. They are not that worried about it because they are profitable "and at the end of the day profitability wins". He restated they do have a plan. I got the feeling they are working with the regulatory agencies i.e., SEC.
--------------------
(Aug 23)
Bill Young. He confirmed the existence of illegal shares and said they have filed the appropriate forms with the SEC.
--------------------
(August 25)
I mentioned the Illegal share toward the end of our conversation. I said "I'm glad you guys have a plan" And he responded…
"revenue and profit that's our plan"
--------------------
The required documentation having been, weeks ago, filed with the SEC. An informal investigation thereafter launched. Eventually advancing to formal status. General power of subpoena at hand. And on from there.
The talked about controlled buy-in being very real. Being very much underway. And no. We're not talking the entirety of the phantom float. What we are talking about is the greater part of same. Certain of the involved criminal entities being domiciled offshore. A different kettle of fish. Different mode of operation. Calling for a timely and costly approach. Overwhelming legal expense.
The inside being understandably loathe to open the PR and filing, etc. floodgates in the absence of being once again OTCBB quoted. And, certainly, any such major release would be counter to the agreement surrounding the controlled buy-in. A buy-in very near completion as of this writing.
An early Xmas present in the offing as talked about.
The regulatory powers that be having proved up. The relevant task force being well aware of the full legitimacy of America's Cleaning Company at this juncture. The company's management team. Its BoD otherwise.
Nothing untoward going on. Nothing untoward having gone on. Simply an ongoing concerted effort to bring value to all involved. To all shareholders. With management having placed their own money on the line in getting the job done. Having sacrificed much. Significant cancelations. Favorable share structure adjustments. So on. Very much fighting an uphill battle.
Much having been discussed over time. From the MOASS to a GFGU dividend to a buyout, etc. And circumstances do change. As talked about. Inclusive of the inside being forced to earlier declare a 1:100 consolidation of the Outstanding stock. Circumstances indeed changing. Life's realities. No different for big business than relative to the day-to-day goings-on for each and every on a personal basis. Circumstances in a state of constant flux. Very little in life being graven in stone. The way it is.
The advent of a short squeeze seeming unlikely. The offshore angle being what it is. The inside having clearly delineated the fact of the acquired GFGU common stock position belonging, in full, to SPNG's shareholder base. The advent of a dividend being very real. The advent of a buyout being no less real. The right offer on the table and management will act. In the best interest of the company's shareholder base.
And again…
"That was one of the things that really helped our stock price going up in the last month. By doing the buyback."
It being about share structure. About market level. About a float consisting of actual company issuances over time plus a phantom such. The phantom reality being significantly reduced as of this writing. And previously.
The PR and filing, etc. floodgates to be very soon opened. In line with the controlled buy-in agreement. A meeting of the minds. In line with regaining the OTCBB quotation. In line with an end to egregious abusive shorting practices. Offshore and all. In line with market level ascending as it should. As in early June. A permanent end to being grossly undervalued. The future wide open.
An early Xmas present in the offing.
Market level far in advance of the current reality. Far in advance of our interim High of $0.2851.
Company true value circumstance. The always combination of present and future value.
Factoring in the completion of due diligence. The big money understandably entering. Golden stamp of approval. Golden ground floor opportunity.
A coming massive breakout!
The view from the inside.
The talked about appeals to 'legitimize' self-serving antics having long ago cemented the reality. That certain of the criminal shorts see no escape. A controlled buy-in resulting. An agreement. A meeting of the minds. The inside proceeding in line with that which is seen as being for the overall best. Being in the best interest of the long-term health of America's Cleaning Company and owners.
Letting the company's greatest detractors proceed as they see fit.
The glaring truth about to emerge.
Just who right.
Just who wrong.
My own 2.5m position speaking in stentorian voice as to that which I for one know, in the absence of all doubt, to be the truth.
A budding empire.
An early Xmas present.
And all the best to all.
Staying safe.