Rook,
No.
And thanks.
And PM received.
Earlier, we spoke of a certain grapevine and the very strong likelihood that our current trading week would play host to an industrial strength PR or two. Numbers inclusive. And voila! Projections and guidance. The shrewdness/astuteness continuing. Leveraging all. The arrival of the PR cementing the fact of management, as talked about, being on the ball. Being not about to squander a golden opportunity. Doing all they can to bolster the buy-side. NASDAQ considerations and all.
And the Conference?
Awesome!
And we'll elaborate a wee bit...
Fiscal '07 gross revenues of approx. $67k.
Fiscal '08 gross revenues of approx. $5.2m.
Fiscal '09 gross revenues in excess of $50m.
The growth rate expected to continue over the next 3-5 years as the company ramps up its product line to over 100 SKUs. And awesome indeed.
Company is debt-free.
Clean balance sheet.
Current cash of approx. $3m.
Gross profit margin expected to grow exponentially.
Product reorders continuing.
Etc.
Awesome again.
Sponges can be made as thin as 1/16 inch. Facilitating medical application. Huge potential market. Awesome yet again.
And the "grand slam" from Mr. Metter...
The fact of no dirt getting into the sponges. Huge selling point.
And two overriding considerations...
1_
When the Q&A began, we got exactly what we wanted and needed to hear. The initial set of questions, posed, asking about NDA's (Nondisclosure Agreements), patents and trademarks.
And why so important?
And because the focus meant that the company's presentation/pitch had succeeded. The audience being drawn to the numbers/potential numbers but wanting and needing assurance that said numbers were protected from competitive influence. And they are. In every way called for. The institutional folks being particularly sensitive given overall economic circumstances. And I, for one, was smiling broadly as I listening to that initial Q&A exchange. For I knew exactly what it meant. Money in the bank. Awesome indeed.
SPNG is on the big money radar more than ever previously. Inclusive of those free samples being grabbed up. Speaking for itself.
2_
We have the following passage from Mr. Moskowitz regarding the "buyback"...
"That was one of the things that really helped our stock price going up in the last month. By doing the buyback."
And speaks (ahem) volumes. And ties in with the NASDAQ meeting set for Thursday. My personal take being that management is going to press home the point that with an additional massive buyback(s), coupled with the fact of the company's fundamentals far and away meeting the NCM's initial listing requirements as of this writing, that the very act of SPNG being approved for a NASDAQ listing will, in and of itself, be the primary catalyst to the pps issue. Situation resolving itself. And an excellent argument it is. With major monies climbing on board at that point. Market level skyrocketing. Vaulting to dollars. No end of SPNG millionaires.
Going to be an interesting week for sure.
And continuing…
"Haven't even scratched the surface."
Mr. Metter getting the business plan/model point across. Growth/expansion potential. Global reality. International market. SPNG poised to give P&G a run for its money. Becoming a $500m company in 3 to 5 years. Continued TV branding of 'SpongeTech' inclusive.
And, certainly, it would be a hugely shrewd/astute move by management to provide shareholders with the talked about post-Conference PR. Providing detail regarding reaction to the presentation/pitch above and beyond the aforementioned. The Q&A. Would go a long way.
And on the subject of abusive shorting?
I had my say in an earlier post. Referencing certain facts inclusive of NASD Rule 3360 amendments. No shorting abuse. And, certainly, management could determine the facts courtesy of a comparison of the company's NOBO (Non-Objecting Beneficial Ownership) list with the relevant DTCC trading/clearing detail. Not rocket science. Simple enough.
The overall bottom line being that securing the senior listing is the crux at this juncture. Ascending to the NASDAQ. Approval. Market level poised to skyrocket. The current trading activity being entirely dismissible. A little cooperation from the NASDAQ folks and SPNG becomes transformed in a way that's going to put ear-to-ear grins across the collective face of the company's shareholder base.
NASDAQ being the key. Securing the approval. A market level explosion waiting to happen. Dollars reality.
And as we await additional formal word we'll see the longer-term trend contine. The upside.
And as for the TA being gagged?
Not a mystery. The buybacks/retirements/cancelations call for the filing of certain documents with the relevant SoS (Secretary of State). The company's TA being not able to keep up in terms of latest actual detail. And, thus, the quiet. Nothing to be concerned about.
Going to be hugely interesting from here on out. But, for sure and for certain, market level is headed seriously north. Dollars in the absolute.
We now wait for formal word about the scheduled NASDAQ meeting outcome. See if the NASDAQ folks see the logic of management's likely argument. Approval being needed. Simple logic. And the relevant Listing Council has already extended the temporary suspension of certain continued listing rules/regs. regarding minimum pps. Difficult times after all. A Council willing to listen.
SPNG, at the current cost of admission, amounting to the no-brainer of the century.
No two ways about it.
Dollars waiting to happen.
Only a complete fool would exit at this point.
Plain and simple.
And thanks again.
AI
