SPO Networks Inc (SPOI)

[ecpickins]

Re: Dilution, current shares outstanding as of April 19, 2006 are 187,922,760 according to the latest sec filing. The company has been diluting steadily in the months prior to that to pay all kinds of debts, accounts payable, consulting services,lawyers and even employees. If you take the time to read the whole report you will probably conclude that the dilution has been continuing in the time since April 19 because the financial reports are horrible.

I've made very nice money trading this stock on 2 previous occasions and was hoping to jump back in because the shares looked so cheap right now but I think I'll pass. I tend to agree with a previous post by Mike that there could be a dead cat jump here, but I don't see a real bottom in sight for this stock and I don't want to get caught holding the bag on this puppy. Do your own due dilligence and good luck if your long.

http://www.sec.gov/Archives/edgar/data/104375/000117347306000107/form10qsb-a22806.htm

ecpickins