Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yes it does:
BK11 is REORGANIZATION, NOT LIQUIDATION.
From http://www.sec.gov/investor/pubs/bankrupt.htm:
"If you are a stockholder, the trustee may ask you to send back your old stock in exchange for new shares in the reorganized company."
Hmmmm, wonder what will happen when they ask for all of those '3 Billion'alleged outstanding shares back. S/B fun to watch :)
Mod, can you please take my 1x per day limit off? Promise I'll behave :)
You, sir are wrong. I've personally used the car wash/sponge bob products, and they work fantastic. Sponge Bob does run out of soap quicker than the car was sponge, but it's still great even after that because it doesn't mold! The car wash sponge is AWESOME. I've used it over and over and it keeps putting out soap. I've had family and friends use these products and they say the same thing. Please stop trying to twist this thing. Look at the reviews out there. This is a real product with limitless applications.
Wrong. Just purchased a pack for my wife at the local Walgreens. Says "this product uses the technology of Purecell Cosmetic Foam with Vitamin E. Dicon Technologies Patent No. 5,976,616."
"Distributed by Riviera Brands, LLC
Deerfield, IL 60015-4616
Made in China
100% Satisfaction Guaranteed
Exclusiveley at Walgreens."
I have pics but cant figure out how to post. You can see for yourself. They are at virtually EVERY Walgreens and online :)
One post for the day. Can someone tell me how to post pics?
What happens Wed?
I am E. 300k+
Little Rock, AR still stocked. REALLY far from NY. M&M must have rented a U-Haul....
THANK YOU SHORTY! UP 131%!!!
I learned a very good lesson from this one: "Be fearful when others are greedy, and greedy when others are fearful"-Buffet
Oh by the way, doesn't Daniel Pike, like his mentor Eddie Lampert invest in companies with incompetant management, and poorly run business models and turn them around for huge profits?
Added another 150k shares today. Thank you Shorty! GLTYA
Thank you both for the insight!
Lee Cole Resignation-
Hey guys, I'm new to this board, but have been a shareholder since last year. I've lost quite a bit, but still continue to hold on because of the strength and innovation of the product.
I was reading the recent filings, and came across the resignation letters of a few key folks. I appologize if this has been discussed in the past, but thought I'd bring it up. It appears that even with his resignation, Cole believes that the numbers will still be good. Am I reading this wrong? Thanks!
"With regards to the net assets of the company, at the last Q these were stated as $26 million. When the company's financial statements for the Year Ending December 31 st 2009 are presented I am confident the net assets of the company will be in excess of this figure.
As shareholders are probably aware, the management seconded by Sterling FCS handed over the US operations to a new management team as of February 1 st 2009. The new management team and officers associated with the management team has expensed in excess of $3million to the company in the 11 months to 31 December 2009, and despite repeated expressions of concern by myself have not generated any contributions to revenue or income. Assuming these expenses continue at this rate and do not generate either revenue of income, this would still leave $5.5 million EBITDA from the licence income generated from Europe."
Yours sincerely,
Lee Cole
I'm with you there. I'm long about 150k shares, and hope we go up, but it makes me a bit uneasy that we're doing PR's every day, sometimes multiple times per day....smells kinda like a pump. Any thoughts?
PIKE-SPNG-Must Read
Not sure if any of you have seen this, or this has been discussed. I found an interesting tidbit posted back in Jan. talking about how it was Pike's plan all along to purchase all of the outstanding float so that the company could prove rampant NSS.
Interesting read. Seems like the most recent buy-in corresponds with the PPS increasing dramatically. Intuition tells me that they're done buying and the fireworks are about to start.
http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_S/threadview?m=tm&bn=100008&tid=65562&mid=65562&tof=5&frt=2
Pike took my advice!!!! Back on September 9th I posted on IHUB that the entire float could be eliminated by buying 164,000,000 shares and insiders then hold all 722,860,000 exposing the naked shorts. Mabye Pike read my post and bought the 160 Mill - ( I was wrong by 4,000,000 ) - fireworks are coming - prove me wrong!!!
Posted by: spongeboy Date: Wednesday, September 09, 2009 10:33:32 PM
In reply to: Fishforbreakfast who wrote msg# 191833 Post # of 279074
FLOAT IS GONE?? Get a calculator
Documented FACTS from Filings and PRs:
FACT: O/S is 722.86M
NEW YORK--(BUSINESS WIRE)--SpongeTech® Delivery Systems, Inc., The Smarter Sponge™, (OTCBB: SPNG - News) is pleased to announce that its Chief Executive Officer, Chief Operating Officer and Board Members have been purchasing SpongeTech®’s common shares in the open market. Together the team has purchased approximately 18.2 million (eighteen million two hundred thousand) shares of the 722.86 millions
So official O/S is 722.86M
FACT: As of last SEC filing % Held by Insiders1: 50.32% 1 = Data provided by Thomson; 2 = Data provided by EDGAR Online;
364.1M held by insiders and institutions as follows.
AMI Investment Management, Inc... 40.0K
Fisher Investments 90.0K
Howe Barnes Capital Management 162.0K
Janney Montgomery Scott LLC 40.0 K
Lazauskas (Frank) 10.8 M
Levin (Joel L) 41.0 M
Metter (Michael) 7.7 M
Moskowitz (Steven) 6.1 M
RM Enterprises International, 257.0M???? (some say 480)
Signature Management, LLC 41.0 M
Others 24M
SO FACT 722.86-366-24 leaves us 332M Float)
FACT The float is 332M CEO/COO bought 18M company bought 150M
SO FACT 332M-18M-150M = 164M remaining
These numbers are correct
NOW I speculate:
At an average price of .122 ALL of the remaining 164M shares could have been purchased by the company for $20M - Yesterday we gave $4M to getFUGU without any explanation of what or why? I can only assume that the announced buyback was complete and for an additional $20M the company BOUGHT ALL OF THE SHARES before the FUGU deal!!
Think about what this would do for us. Moskowitz goes to the DTCC, SEC, and FINRA, and says,"we are trying to split our stock 100-1 and WE are holding all 722.86M Shares that exist. AYME, NITE, ETMM, SCOTTrade and others say that they have 930M more shares, please explain this to us. The rule allowing naked shorts is called "the Madoff Exception" google it. Think of all the free press we would get as the company that exposed the wall Street fraud of Naked Shorting!!
Am I wrong?
Not sure if you all have seen this, but I was utterly breathless when I pulled it up. NITE accounted for over 5.9 BILLION in transacted SPNG volume for 2009.
Is there any way to break this down to see how much was transacted short for NITE's accounts?
http://www.otcbb.com/asp/tradeact_mv.asp?SearchBy=issue&Issue=SPNG&SortBy=volume&Month=12-1-2009&IMAGE1.x=10&IMAGE1.y=11
I must be stupid lucky! Dumped a good bit in BOTH in EGMI & SPNG!! This one really smells like SPNG all over again! Great product, excellent financials, AND Timothy Sykes BASHING! Do any of you think there’s a connection? The similarities are just too wierd; SPNG was suspended for failing to file annual reports due to the license of it's auditor being revoked(cooincidentally right before record-breaking numbers were to be reported). It's odd that EGMI was about to have a conference call next week. IF the information to be discussed was going to be positive, the PPS could go nowhere but up, putting shorty in a world of hurt.
Any thoughts? This is all too weird to be a random coincidence. Seems like the shorts are specifically targeting companies right on the verge of a breakout and driving them into the ground.
C'mon get real. Why in the world would Pike sink $16m+ into this thing if he didn't know something that we don't(as I said before, either he's completely insane or knows something we don't)?
Yes, you're right-if he's acting on material, non-public information then that is illegal. My money is on the fact that he's employed the Mosaic Theory, and collected lots of non-public, non-material information and pieced it all together to arrive at an investment decision. This is NOT illegal, and would justify such an investment.
Since you probabally won't agree with me, for obvious reasons, why do you think Pike took such a large position in a company under SEC investigation, delinquent on filings, and the subject of a class action lawsuit? Considering Daniel Pike's backround, I know that before he makes any investment, his due-dilligence process is quite thorough.
So you're saying that like the rest of the "bagholders" Pike was just "carelessly" making a $16m+ investment in a company under SEC investigation delinquent on it's filings, and whose officers are accused of fraud??? C'mon, use a little common sense here. We all know that Pike knows something that we don't; you can say all day long "that's illegal insider trading" but when it comes down we all know that Wall Street big dogs use insider information all the time to make money.
Pike knows something we don't and has placed a massive bet(I would assume it's a bit more than just a "bet" or "hunch") on that knowledge. Like it or not, the size of his position tells me that he's VERY confident in his decision(or completely insane, like many shorts want you to believe) :)
GO SPNG, STAY STRONG LONGS!
GLTA
SPONGEBOB SIGHTING!
An entire SWATH of Spongebob sponges seen in Super-Walmart in Little Rock, AR. They're placed right in the checkout aisle! What a good impulse buy!
Seems like this "scam" just keeps getting better and better ;p
Wonder why the crooked management team would continue to expand product line, retail outlets, and spend massive cash on distribution/advertising if they were in fact a scam.
GLTA, except shorty of course ;p
So what are some of the other penny scams that you've seen in walmart? I sure havent seen any lately... Just curious...
I checked Scottrade this morning, and it indicates that Pike holds exactly 160,000,000 shares. The filings indicate only 143mm? Which number is correct?
I'm a long, but let me play devil's advocate, and throw a question out there. Could Pike have acquired so much SPNG because they're trying to unwind a massive short position? Just a thought.
WOW, Dora is HUGE! Kind of wierd for a scam stock to keep introducing product after new product after new sponsorship after boatloads of private equity investment is't it? Not to mention they're the #1 advertising company in sports...Definiteley smells like a HUGE scam! GET OUT WHILE YOU CAN, THE END IS NEAR! ;p
Pike Question-I'm sure this has been posted about, so if I'm repeating something thats already been discussed, I appologize. Did you all notice that Pike just increased it's position to 145mm on December 22nd? Seems like they bought and sold in close proximity, but overall the position increased.
Can someone shed some light? Thanks!
That's not what he said. He said "20 million shares @ .04 - .043 .. does not look so good to me. " This doesn't indicate any averages. Convenient error to make for someone obviously hoping this stock tumbles...
the spongetech product is either being discontinued or sold off at bargain prices.
Can you please provide your DD for this statement Hasher?
Makes sense. The OS is very reasonable compared to others I've looked at. Thanks!
Thanks. However, that still doesn't explain why the stock was trading over $5 per share in 2007 and now it's trading @ <.03 per share? What caused the PPS to significantly drop even while the company grew revenues? What am I missing?
Question-I'm new to this board, but have traded CCTR for a while now on a technical basis. I'm back in, and was curious as to why the PPS dramatically dropped over the past five years even while the company continued to increase revenues? Can someone link me with DD, or provide an explanation? Thansk!
Great, thanks hermso!
DD-Question. Hello! I'm new to this board. Can someone point me to previous DD done? This seems like a very popular board. From what I can see the financials/OS numbers are horrible, but medical weed has tons of potential. Any guidance as to why this company is so attractive would be helpful!
THANKS!
What do you think NITE's relationship is to the rumored upcoming MOASS of SPNG? How much exposure, and how did they facilitate it?
Good point. Fascinating there are very few folks on this board that disagree with your take on things....
You're right. Very fascinating to see virtually all matrices declining in unison. Odd considering the economy is on the way up. I hope that these guys get what they deserve if what is alleged turns out to be true....
Right on the money Alii. I used the car sponge, degreaser, and chamois last weekend, and they worked GREAT! No wonder these things are #1 sellers. It really is a total system. I never believed in the "built in wax" but whatever this stuff is it made my cars shine like brand new!
All you bashers need to use the product before you knock it. The Hydrolyphic technology is really exciting!
Dude please stop throwing out the crap. It only feeds shorty. If you know a time, please post supporting evidence.
I did a bit of digging a few days back on Pike's performance:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=43959970
I would assume they hold more than a few positions at a time as they aren't required to file unless they're an insider, or own >10% of outstanding shares. GLTA!
Ok, how in the heck is my .04 order not being filled when I've seen them filled all day long!!! Any ideas?
Ok, how in the heck is my .04 order not being filled when I've seen them filled all day long!!! Any ideas?
Just used the car wash sponges to wash my car and my wife's car. The car wash/degreaser/and chamois worked exactly as described. I just can't believe how much product they stuff in those sponges!!
As I've said in the past, don't scammers have fake or non-functioning products?
Wow, I think the skin bandage would be HUGE if it works! There are really limitless applications... Good post!
Good point. After posting I thought that mabey this is the point that they qualified as an insider(i.e. over 10% ownership). Other shares were acquired before, and therefore they didn't have to report because they didn't qualify.