SPO Networks Inc (SPOI)

[flemsnopes]

The 750,000,000 AS appears to be the number of shares authorized prior to the restatement of the articles of incorporation on February 24, 2009. If you look at the October 2004 "stock change" entry on the Idaho Secretary of State website, you will see the AS was increased to 750,000,000 shares on September 22,2004 (filed with Idaho SS on October 5, 2004) and signed by then CEO, Robert C.Rhodes. The subsequent restatement of the articles of incorporation in February 2009, signed by new CEO, Stephen E. Humphries, clearly indicates an increase in the AS to 10 BILLION shares, no matter what the TA says. If they persist in this fiction, you should refer them to the website.

For anyone reading this post who is contemplating an investment in SSEV, I recommend you visit the RMTD board where many posters excitedly invested in another Walters' company when it very briefly spiked in January 2008. This spike followed a reverse split in Nov 2007 and seemed to indicate the company might have some promise as an early investment in a growing company with good prospects. However, another reverse split in August 2008 (1 for 400) and increase in the AS to 5 BILLION shares dashed most of those hopes. Then, inexplicably, investors began to invest in RMTD again a few months after the August RS and as a reward for their loyalty, the company increased the AS to 15 BILLION shares in April of this year! My point is simply that there appears to be some similarities here, and, in my opinion, the same modus operandi may be in place. Read the 14C filings for RMTD in 2007, 2008 and 2009. SSEV doesn't even file regularly with the SEC and thus you won't have the benefit of even that inadequate protection. One might want to consider pocketing any profits from this recent spike just in case Walters and company are planning a replay of RMTD here.

http://www.sec.gov/Archives/edgar/data/944400/000114420407054512/v090355_prer14c.htm

http://www.sec.gov/Archives/edgar/data/944400/000114420408044007/v120000_def14c.htm

http://www.sec.gov/Archives/edgar/data/944400/000114420409014970/v143374_def14c.htm