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The only customer on my list that was on the last 10Q is walgreens.
Fiscal 2010 customers???We know who they are:
CVS
WALGRENNS
ACE HARDWARE
COSTCO
SEARS CANADA
QVC
HSN
AND THE LIST GOES ON!
Remember they were not notified until 9/11/09 by the SEC, so its less then a month from when they were notified.
Because North America retailers started to pick up the products. Why do you think May was the biggest month for them of the last fiscal year?
Why don't you ask the SEC, they were the one who notified Spongetech on 9/11/09 they would not be accepting the 10K. Thats a little late don't you think?
That was for the quarter ending 2/28/09, most of the north america retailers picked up the products after that. Name me a PR since then that states sales are coming from over seas.
Would you care to elaborate on #3.
3. Reported sales growth is entirely overseas and yet no major overseas advertising seen.
There is a whole list of North America retailers who have picked up Spongetechs products.
I agree with you that Spongetech could not lie in the lawsuit, but they were the ones who filed it. If Spongetech did not want this information released or felt there would be potential problems with it why would they file the lawsuit?
Hasher you are saying that even if everything is 100% legit they still won't survive, what about $70M Q1. I know its only a PR but you said even if everything is legit. I can not see this company folding if everything is true, to many new products!
One of them does walgreens, we do not know what percent of those sales came from them. As far as the others, I will let the SEC figure out if they are legit or not. We will know soon enough.
BTW- What about all of the retailers that have picked up spongetech products since then, we know they exist.
Why does it look like that? Everyone already knew if they did not file the 10K by 10/16/19 they would go the pinksheets. The letter from FINRA was just S.O.P., spnge appeal is just a precaution. Where in the PR does it say spnge will not file the 10K before then?
Remember spnge has filed every 10K and 10Q report up until the last 10K when the SEC notified them on 9/11/09 they would not be accepting it.
Why will fridays news end this stock? Everyone knew that if they did not file by 10/16/09 they would go too the pink sheets. FINRA sending that letter was just S.O.P, spnge filing the appeal was just a precaution. Why should spnge not be prepared?
If it was as bad as the bashers claim, they would of already halted trading!
Already Spent!
Lets hope NITE, that would make me so happy!
I agree, a lot more interesting.
Spongetech voluntary discloses SEC investigation.
No halt trade
Now UBSS taken of spnge
IMO, this should get real fun soon!
I think only spnge, seen them on a couple other stocks today.
Yes it is relative, considering we were at over 20 cents, I am not blind to that fact. But I also think being over .07 and being up 15% today considering everything that has gone on pretty good. I think everyone on this board (longs, shorts, traders, people just watching) knew this could be lower right now. So unless something changes I will take todays as a very good day.
JMO
You asked me what I would say to people who own over .20, I did. Where in my post did I say what I am doing or think someone who does not already own this stock should do. I also said if there not comfortable sell, is that not what you have been saying?
If you want to stick to the facts that find by me, Facts:
SEC Investigation 9/18/09, into what no one really knows.
To date no halt trade.
Up 15% today.
I have always said this could go either way, but think we need more facts. Also have warned people on this board that investing in a stock with a SEC investigation is risky, they have to make that decision for them selfs.
1. If you are no longer comfortable with your investment sell, not evey stock you pick goes up. I know I have not made money on every stock I ever bought.
2. If you are still comfortable with your investment, great time to average down.
3. If you are still comfortable with your investment but have no funds to average down, then hold.
4. If you know how to trade stocks, you might want to trade a little on spnge, a lot of daily movement.
Who's to say the NSS is still shorting. Im not saying there covering yet, but up 15% today and not down as much as we could of been yesterday.
JMO
I nearly had a heart attack lol!!!!
Just got back to my computer what happen!!!!
FAT FINGER trade or what???????
First of all CVS, Petco, Costco, etc came after the 10q, so those sell numbers were not the .6%. Also if she was so interested in the last 10q, why did she not write about the huge o/s reduction???
I agree with you xDREWx, if there is over 1 billion naked shorts there is a very good chance of no short squeeze. The last thing the SEC would want is a MOASS, and that very well could be the reason there investigating Spongetech. They would force Spongetech and the NSS to come to a agreement.
JMO
I would not mind seeing a flat level in the green. Volume was crazy yesterday at the open, glad it wasn't like that today.
I don't know Opus, anyone who wanted to sell could of sold at these levels yesterday. I thinking we won't see a lot more selling unless we go above yesterday highs, or get some type of news.
Who knows, I could be wrong!
If she was just using info from the last 10Q, then why did she not write about the huge o/s reduction?
Now .064 x .0645
.063 x .064
Whats even crazier is most of it came in the first two hours.
Right now I agree with you, also no halt trade yet.
No one really knows what the investigation is about. Could be about management or the NSS. I feel with todays trading there is something more here then what meets the eye. IMO we should be much lower right now, either shorts are covering or someone is buying a lot of shares. Right now I am holding my shares until I see more facts about the SEC investigation.
As far as getting back in at these levels, you have to make that call for yourself. Its always risky when the SEC is involved. I could be wrong and the whole company could get shut down, just not enough info right now to know for sure.
All JMO, GLTY
overachiever,
No one knows what the SEC is investigating. If the SEC was looking into management or the NSS they would look at everyone. I am not saying the and/or other persons means management is clean, but for others to assume they are not without more facts is wrong. Remember innocent until proven guilty.
I always have posted that this could go either way, but believe we need more facts before I assume someone is guilty. But everyone needs to make that decision for themselfs.
Thanks for all the help and insight Z4, good luck.
Check the 8K filed on friday.
NT-K
100:1 R/S
$4m investment in GETFUGU
Delinquent 10K
No 100:1 R/S
No investment in GETFUGU
SEC Investigation (not sure about management or NSS)
Still on REG SHO
Most retail has to be gone by this point, but some of us still holding long. Very interesting trading day, would think it would be lower but its not. Someone is buying a lot today or shorts are starting to cover a little.
That about sums it up!
READ THE 8K
and or other persons
I agree with you 100% about needing a PR tomorrow, I don't know how much they can say about the investigation but they better say something. A lot of people keep posting tomorrow is a Jewish holiday, so don't expect one. But if this company is legit they would release something.
Best of luck to you next week!