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Oh, I see how the game works. When you do your DD from "similar" past companies that have gone through this...its legit. But when someone else does there DD based on similar situations....it means nothing? But of course!! LOL
Why would you ask this question to Panth? You know what the answer in return will be?
You have done your DD, and found what you found. Those are the facts, and its a CERTAIN possibility that could happen to Spong no matter what Panth and others say.
I stick by what I think will happen...M&M, one or both are out, the company will continue, someone else comes in and cleans up the mess.
LOL, no reason to panic as this isn't all too surprising.
"The key point in the definition is 'CIVIL ACTION' not a crimminal action. This is the beginning of the end and it is not looking to bad IMO."
- Oust the M&M's, someone else takes over a revinue generating company.
- A buyout could be in the works
Worst case scenario IMO, management is gone, company continues and share holders are fine.
And you have NO evidence to show that there is fraud. Just pure speculation and guessing based on zero facts.
The investigation doesn't point towards anything except a suspicion that something "may" be going on that is not legal. Until we hear further, Spong is NOT guilty of anything.
Please provide a LINK for proof or some kind of substance to prove this?? I'l be waiting.
1jk1 at least provides the links with proof. If your going to make comments like this, back it up!!
And the voluming increasing on the Greys, is a RARE event. As posted earlier, from a report from broker, its RARE for grey stock to increase volume...typically, volume decreases, which obviously would then drive the price down.
This is NOT happening with Spong. This is why this is NOT comparable to other companies. THis is a unique situation.
No, the LONGS in fact are NOT overlooking anything. All the MANY advertising deals, all the products in the stores that are in fact selling, all the online retailers, and SO much more!!
Certain people on this board CHOOSE not to look at those MATERIAL FACTS.
Believe and interpret things as you wish. Again, everything in this world does not go "by the book", rarely does anything.
What is going on behind closed doors, YOU have NO idea, nor do I.
You can continue to repeat yourself as much as you like directing people to read the rules, read the website, etc, etc. It means nothing to me and many. This situation is not comparable to past situations.
And we ALL know that the SEC/FINRA are FAR from perfect!!
I have in FACT read the rules, went over this conversation yesterday with LOAN, and easily established that the SEC/FINRA could easily be working together, and could easily hold things up. Its says in the rules, and Mario has said, they "look over things". Well, that just doesn't happen in the span of a day. IT can take time.
You talk all this 'read this and that", when in reality we are dealing with PEOPLE. Everything in this world, including the SEC/FINRA doesn't go exactly how YOU or many think, or by the book. Thats been proven over and over again.
Wrong? You don't know this. Read the FINRA rules...we have already ESTABLISHED that SEC/FINRA can certainly hold things up. Dont' make false statements without backing it up with facts. You my friend, are WRONG.
Or maybe PIKE did what he has done many other times while accumlating all of his WEALTH! :)
Everyone wants to know "WHEN". When in fact, no one truely knows when this "might" happen. Could be tomorrow, could be a couple months. This is obviously a very complicated situation, one that can't be compared to any previous situation IMO. Anything is possible. We all know the SEC is or was involved. And as stated and believe by some, FINRA is involved as well. Whats going on behind closed doors is anyone's GUESS, and a GUESS is all anyone can provide IMHO.
What do you mean how? My response was basically to those who keep saying that "FINRA can't do this, can do that, SEC can or cannot do this or that". When in fact, they are two entities who could very well be working together WITH Spong. Would you disagree this is a possibility?
YOu see, many on here claim otherwise, and provide nothing to back it up.
It would also suggest, that what Darklady and Furth are saying, is CERTAINLY a possibility based on my above statement.
I also acknowledge that much of what is being said in negative terms, such as Spong being revoked, is also a possibility. But, as mentioned above, there are MANY other possibilities on the other end as well.
Those are simply my points.
Uh, I realize it takes work, and I have also already read that info long ago. I just like to see what others know, and how they choose to interpret what is written. Again, I wasn't the one posting all this stuff claiming to know this and that.
In my world, if your going to make claims, show that you know what your talking about. Simple as that.
Loan, thanks again. Good to see some people are ok with providing info.
I do realize that FINRA falls under the SEC. Which basically means, they could and probably do work together. Which again, means it isn't out of the realm of possibilities that the SEC and FINRA are working together on this situation. Again, everything is not by the books, relatively speaking. So much could be, and probably is going on behind closed doors that we have absolutely no clue about. All IMHO.
Loan, I read this, and it says quite a bit IMO, and translates to what I thought it did. That IMHO.
"FINRA touches virtually every aspect of the securities business—from registering and educating industry participants to examining securities firms; writing rules; enforcing those rules and the federal securities laws; informing and educating the investing public; providing trade reporting and other industry utilities; and administering the largest dispute resolution forum for investors and registered firms. It also performs market regulation under contract for The NASDAQ Stock Market, the American Stock Exchange, the International Securities Exchange and the Chicago Climate Exchange"
LMAO...give me a break on that one. Did you create this "rule"?
Again, very simple...show me the money(proof, facts, etc, etc). I could care less with the number of posts and how long someone has been on here. That means absolutely nothing in the big picture. Its knowledge and providing good info. All I hear from many is the same things over, and over, and over and over again. Repeating yourself can accumulate quite a few posts. So that makes you smart on here? Impressive!
With the time and energy you and others have wasted with replies like this, you could have easily posted what you CLAIM to know. But you still refuse. Which again, tells me you don't in fact know, which again, means you have no credibility. You "earn" things in life, credibility and respect.
I don't are when it was posted on IHUB. I am fairly new hear. I live in the present and live with the "show me" attitude in terms of proving yourself. Pretty simple
THanks Loan. And I did in fact read that. And it basically says, in general, that FINRA does in fact have some power, and could easily "hold up" a company or require them to do certain things that would take some time to sort out.
I am not attacking anyone. I have asked a very simple question based on what YOU and others have said. YOU and others have YET to prove you know what your talking about. Your just throwing up foulball after foulball without producing any FACTS.
Again, SHOW US some proof that FINRA can't hold things up? Is it that hard? Or, are you just unable to do so?
No, I don't want to, nor will I call FINRA. Its people on here, who have to PROVE they know what they are talking about, including you. Anyone can type anything. If your going to make CLAIMS on here, prove they are FACTUAL claims, or in my book, you have NO credibility. As stated, ANYONE can say go to the FINRA, SEC site, or call them. I have made no claims one way or the other. So I don't need to prove anything to anyone. If your going to make a statement, back it up with FACTS.
In my book, you earn credibility by backing up statements with FACTS...NOT websites, NOT phone numbers.
And, everything does NOT go by the book. You, nor I, have NO idea whats going on, or what happened or is happening behind closed doors with the SEC, FINRA and sponge. There are many scenario's that could easily be going on. There is "book sense, and common sense" when people are involved.
FACT is, YOU nor anyone on here really knows whats going on. You can say "go read this, go call" all day long. That will get nobody nowhere. That I can gaurantee.
LOL, I figured I'd get the FINRA site from you. Means nothing to me. Talk is cheap pal. Show me a quote. Anyone can CLAIM to know something, post a link and say go look. Please PROVIDE a quote of some kind...then maybe I would begin to believe something that YOU and others "claim". And then maybe, you could earn some credibility. If you don't provide it, I'll just assume you no nothing.
Please explain why is "nonsense"? Just saying that means absolutely nothing. Please explain, and include facts on why you "think" you know FINRA could not hold things up? If you can't provide facts are links...then don't respond at all.
FINRA...I keep hearing that FINRA can't do this, FINRA can't do that (hold things up). Can someone please clarify this with some kind of proof/facts on what FINRA can and cannot do? Talking out of your mouth is cheap, show me the money with a link.
Sorry, but its way to easy to sit behind your computer and claim something without showing some kind of FACTS.
Thanks for proving two points.
1. They don't comment on investigations. Which doesn't translate one way or the other in terms of "ongoing or finished".
2. No comments means, that its highly doubtful the SEC will announce anything one way or the other as far as any kind of PR.
Get real and stop with the twisting please.
2 lies? How so? Do you PERSONALLY know the SEC investigation is still "ongoing" as you continue to claim on here? Fact is, you don't.
LOL, believe you me, a firm like this doesn't sign or announce anything before going in and checking things out. They went in, knowing full well everything was in line financially. Then, when the negative PR stuff came out, they got out.
DOn't disagree with that statement. And thats part of the reason they walked away, the bad "PR" surrounding Sponge. BUT AGAIN, bad PR doesn't equal fraud or anything else. Innocent untill proven guilty.
And getting a TOP firm like Deloitte involved in the first place means something. They just don't agree to work with a company without looking into things. They would not have agreed to get involved if they knew or thought Sponge was a fraud. And do you think Sponge people were dumb enough to involve a firm like Deloitte if they were a fraud??? Highly doubtful.
"One irony is that SPNG, the winner of the most heavily advertised product award is probably the only company on that whole list that Deloitte wants no part of."
Another baseless statement. You have NO idea why Deloitte decided not to work with Sponge. If you do, please post. Otherwise, stop with the baseless comments.
"Most"? And you know this how? Did you do a national poll? False statement with no basis.
"Again, no gimmicky sponge company will sell for that.."
Really? Interesting as I sit here and watch "The View", they have children on who are now multimillionairs because they developed a "bottle cap design magnetic necklace". Yes, its true. If they can make millions of this "gimmick", Spong can EASILY make multipe millions off of their products, that are in MANY stores around the country!
Certainly it will affect you. Your not here for simply no reason at all. Your invested one way or another.
Show us where he was given at a discount? If you can't, then the assumption IS and SHOULD BE that he paid what everyone else paid.
Simply amazing how you try to continually twist things your way.
Yawn...we have been hearing that Spong will be at .03 for a long while! Check out the volume..something is going on. And its not a bad going on either.
IF its that easy, then please humor me.....I'll gladly wait around. Your the one saying its more then standard...then please show us.
"... everything. SPNG is surrounded and under seige."
More speculation with NO facts to back it up. Far from standard? How so? Is there a way to show this was different from a "standard"? Please show us.
Oh come on now, you know that FACTS on this board mean absolutely nothing!! ;) lol
We have been,and you were WRONG. Hurts huh? Next prediction?
Just because other companies were revoked, doesn't mean Spong will. Each and every situation is completely different. You can't compare one to another. If you want to play that game, lets get very detailed in the comparison. Otherwise, that arguement is baseless.
According to who? The SEC? Hmmm I must have missed that PR by the SEC. Please don't state things that are NOT true.