Thank you to all.
And you're welcome.
Fred…
You're very welcome.
And thank you.
Real...
First you rail on about America's Cleaning Company remaining quoted on the OTCBB as being a viable long-term option. As nonsensical a proposal as one could put forward given the big picture. From egregious manipulative practices to institutional level involvement/interest. The annual gross revenues target of $500m plus. The rest of it.
You then make nonsensical mention of a reverse split being a viable option. Entirely ignoring the issue of company ticker symbol and associated branding considerations. Additionally ignoring the very significant investment per open market buybacks over time. Not to mention the shareholder respectful consideration. The steadfast positioning.
Then coming from you the suggestion of a merger. Entirely ignoring the Dicon acquisition. The added level of complexity. Ignoring, additionally, the Authorized reduction to 900m. Ignoring, additionally, steadfast intent to maintain the parent company as debt-free.
With your having absolutely nothing valid to offer by way of rebuttal. Having been shot down in flames. And now it's Independent Directors nonsense. The formal disclosure of which is mandated to be made via either a Form 10-K or Form 20-F if applicable.
And from the company's latest annual filing...
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Committee of the Board of Directors
We have an audit committee composed of Frank Lazauskas.
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All future transactions we enter into with our directors, executive officers and other affiliated persons will be on terms no less favorable to us than can be obtained from an unaffiliated party and will be approved by a majority of the independent, disinterested members of our board of directors, and who had access, at our expense, to our or independent legal counsel.
[ majority of the independent, disinterested members of our board of directors ]
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And from May 7th…
'SPNG … announced today that its Board of Directors has voted to seek a listing for SpongeTech(R)'s common stock on the NASDAQ Capital Market. As part of this process, SpongeTech(R) will prepare and submit an application for a NASDAQ Capital Market listing. In addition, SpongeTech(R) will undertake the corporate actions necessary for SpongeTech(R) to meet the quantitative and qualitative requirements for the listing application to be approved. SpongeTech(R) currently meets most of the financial listing requirements with the exception of stock price.'
[ Board of Directors has voted to seek a listing ]
[ will prepare and submit an application for a NASDAQ Capital Market listing ]
And so proceeding in the absence of the necessary regulatory underpinnings being fully in place? That it? And you have the laughable gall to speak of "BS" and "credibility" re another/others? You claim a personal status of being positioned long and then mindlessly rail on in opposition to your own claimed investing/trading interest? And could your capacity for clear thinking be any more anemic? At this point in the proceedings you can consider yourself ignored. Joining the 21 equally erudite others.
TFS…
Thank you.
And well said.
Carey/Richard…
Thank you.
And you're welcome.
Kelly, et al….
At some point within the first two weeks of September is when we can expect the Listing Application PR. A full outlining. Waiver intent and all.
As for acceptance?
Management having made their compelling argument at both the NFE Conference and the NASDAQ meeting. Our having discussed the whole of the goings-on at length. The full associated reasoning. Fundamental and operational soundness. Past, present and future. The current condition of the NCM given the global economic downturn. The financial condition of many of the components therein. The numerous delistings. So on.
Management's waiver initiative will meet with success in the absence of all doubt. The temporary granting of listed status. Conditions applied relative to pps circumstance. A certain timeframe within which to achieve a stable average trading base in line with stated requirements.
And a nonissue in light of where market level is currently headed. Back to $0.2851 and far beyond. Coming sessions to see the $0.40 plus we earlier spoke of. With management firing on all cylinders. The fiscal '09 audited detail to be soon posted to the relevant database. The pending arrival of the Listing Application PR to see a massive market level response. The arrival, thereafter, of formal word of temporary assent having been granted seeing the dollar$ range emerge. A flood of institutional level monies. Pouring in in line with having completed called-for due diligence.
Our not able to say just and exactly at what price point/points the buying-in will get seriously underway. The MOASS consideration. To be precipitated, formally, via an exchange of certificates. New CUSIP number assigned. Separation of legal ownership from phantom goings-on. Exposing.
The prospect of the waiver appeal meeting with failure being remote in the extreme. Given what achieving temporary listed status would precipitate in pps terms. The full associated reasoning, again, discussed at length. Inclusive of performance considerations.
And recalling…
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The big money poised to be all over America's Cleaning Company come completion of due diligence. With a need of considering the global reality. Economic downturn. The fact of institutional players being under performance pressures. Turning to resistant business models such as that of America's Cleaning Company. Resistant to the global economic downturn. A need of recalling what the NFE Conference was all about. The seeking of prospects. Worthwhile return.
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Temporary listed status serving as the catalyst. A flood of institutional level monies coming in. Market level soaring. The $4.00 level being a breeze. The effect of applicable multiples inclusive. The balance of our trading week to see the upward momentum gaining strength. Closing out at a new interim High in line with the coming filing and all else. The technical inclusive.
No looking back.
Not this time. No rude interruptions. Simply cannot be.
The days of the faithful longs having arrived.
The fact of America's Cleaning Company simply belonging upstairs.
Massive ROI.
Holding tighter and tighter.
CM…
It's looking likely. Another gross revenues record. The August reality. The understandable impact of marketing/branding as The Smarter Sponge.
Brilliant thinking.
So simple.
Highenergy…
Hello to you.
Hope you and yours are well.
And we won't go the formal route. We'll simply go the reminder route...
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(Mr. Metter)
1_
"Don’t you have to be at $4 minimum stock price to apply to NASDAQ?"
"Yes. We have a meeting Thursday with NASDAQ. As you know, NASDAQ has lost 700 companies this year, alone. We have 3 of the 4 qualifications. We have the asset base, we have the shareholder base, we have the profitability base."
2_
"Would you entertain a 1:100 reverse split to get listed?"
"Well, we’ll deal with it when…Right now we’re going to go there on the basis of what the stock is going to grow to. The time has come for us to move off the Bulletin Board."
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Management to soon submit the Listing Application. Seeking a pps waiver. An "exception". As recently confirmed by company IR. The rest of the story as presented above and earlier.
And with that said we'll, additionally, recall...
NASDAQ Listing Rules (5800 Series):
[ 5800. Failure to Meet Listing Standards ]
[ 5801. Preamble to the Rules and Procedures Applicable When a Company Fails to Meet A Listing Standard ]
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Securities of a Company that does not meet the listing standards set forth in the Rule 5000 Series are subject to delisting from, or denial of initial listing on the Nasdaq Stock Market. This Section sets forth procedures for the independent review, suspension, and delisting of Companies that fail to satisfy one or more standards for initial or continued listing, and thus are "deficient" with respect to the listing standards.
The Listings Qualifications Department is responsible for identifying deficiencies that may lead to delisting or denial of a listing application; notifying the Company of the deficiency or denial; and issuing Staff Delisting Determinations and Public Reprimand Letters. Rule 5810 contains provisions regarding the Listing Qualifications Department's process for notifying Companies of different types of deficiencies and their corresponding consequences.
The Hearings Panel, upon timely request by a Company, will review a Staff Delisting Determination, denial of a listing application, or Public Reprimand Letter at an oral or written hearing, and issue a Decision that may, among other things, grant an "exception" to Nasdaq's listing standards or affirm a delisting. Rule 5815 contains provisions relating to the hearings process.
The Nasdaq Listing and Hearings Review Council, upon timely appeal by a Company or on its own initiative, may review the Decisions of the Hearings Panel. Rule 5820 contains provisions relating to the Listing Council appeal process.
Finally, the Nasdaq Board of Directors may exercise discretion to call for review a Listing Council Decision. Rule 5825 contains provisions related to that process.
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The door being open to management making a successful argument. The granting of an "exception".
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The time of the faithful longs having arrived.
Massive ROI.
And taking care.
You and the rest.
AI
