Ok I would like to put something in perspective for everyone...
Today (or yesterday however you want to look at it...) SPNG traded over 127 million shares... there were only 6 stocks on all of the big board stocks that traded more shares than us...
let me remind everyone the Float of SPNG is 220 million... OS of 700 million (but 480 million of the shares are held in cert form and can't be sold on the open market due to contract which is in the 10q until 2010...)
now lets look at the stocks that did more shares and check out the OS...
C did 525 million shares... They have 5.5 billion OS
BAC Did 512 million shares... They have 6.4 billion OS
WFC did 206 million shares... they have 4.2 billion OS
AIG did 150 million shares... they have 2.7 billion OS
GE did 146 million shares... they have 10.6 billion OS
JPM did 131 million shares... they have 3.7 billion os
Why do i bring this up??? SPNG HAS 700 million OS of which only 220 million can be traded... Now ask yourself.. how big do you think the naked short position is on this one...
remember we have a real company, real sales, real growth (via audited 10k's and 10q's)..... There is no reason to lie to investors....
lets also note $3,024,307 worth of capital traded today in spng... with 700 million shares OS SPNG has a market cap of $17.5 Million.. meaning 17.28% of the market cap traded... lets go through the high vol stocks of the day just to see how much capital that would be for them...
C- $2.592 billion dollars
BAC- over $8 billion dollars
WFC- $11.232 billion dollars
AIG- $535.68 million dollars
GE- $19.595 billion dollars
JPM $18.161 billion dollars
once again why do I bring this up... Just look at the numbers and think about it.... the buying that is going on is crazy... the naked short that is in this stock is very crazy....
At some point they have to look at what's going on and make up their minds... Do they continue to fight this, and most likely go to jail for what they are doing?? or do they look at the numbers and understand shoot im not going to make money here i have to cover and stop selling shares because if we continue... we are not only going to be broke... but broke and go to jail....
Good luck to all... sorry for the long post!
Everything I say is in my own opinion do not buy sell or hold based off what I have to say.
AI
