Penson-
From their latest financials:
As of December 31,
(In thousands)
Consolidated balance sheet 2008 2007 2006 2005 2004
data:
Cash and cash equivalents . . $ 38,825 $ 120,923 $ 103,054 $ 99,506 $ 35,155
Total assets . . . . . . . 5,539,195 7,846,977 4,644,390
Sorry about the layout. The point is Penson had $38,825,000 in cash as of 12/31/2008.
I hope we as shareholders and the Company get every blessed dollar of that from them for their BS in handling the clearing of SPNG stock. Look and see who clears trades for BMAS....it's Penson. That jives perfectly with what we have continued to hear, that the company can't get their certs. They have tried for months!
So, shorters clearing through Penson have had their way with the SPNG stock to date. They can't deliver certs because they have let others short against the shares that SPNG bought on the open market to retire.
This crap should make every shareholder livid!!! Imagine if Penson followed SEC rules and delivered those certs!! We wouldn't be under two cents, that is for sure.
There should be a shareholder class action suit filed against them. As I have said before, just the discovery process would be revealing.....and embarassing for Penson and the SEC.
Oh! If you were a shorter, you would jump for joy with Penson's ability to have accounts in the US and OFFSHORE(Canada). FYI, they are the largest clearing firm in Canada....now, what does that tell you?
AI
