If the SEC is pounded with "complaints by the public" even if "the public" cares not to find an answer but only to drive down the price of a stock out of desperation, the SEC reacts similarly to the BBB when it too is pounded with complaints against a company.
They must look into the matter. The decision made was to have SPNG re-audit their 2008 10K. That it appears to have been a decision made very near the filing due date is a real setback for SH as it caused the SP to take a real hit.
The fact it rallied back shows a good deal of strength.
I was away most of today, but scrolled quickly through many posts and have seen at least a dozen different aliases posting negatively throughout the day. This does not include the daytraders who most regular readers of the board recognize.
IMO it could be these same negative posters who incessantly barrage the SEC about SPNG mgmt. Could this be paranoia? Well, let's just say there have been in the past, and currently are, lawsuits against this type of bashing. Until a big lawsuit is filed and won, it will continue. If it ever gets fully exposed, only then will it slow down, and stocks, especially penny stocks, can perhaps trade strictly according to supply and demand, the way the market is intended.
This is the reason mgmt wants so desperately to get off of this exchange. A move up does not guarantee there will be no more FTD's, but with institutional investors having skin in the game, it is not nearly as pervasive. Check a 'big board' message board and notice how much bashing you see...very little. Those boards exchange ideas, speculation, DD, etc. There are both positive and negative remarks, but not with an obvious agenda other than to inform.
As stated in a previous post, this many naysayers can only mean that there is still a large NSS needing to be covered.
Probably my last post of the night, so here's wishing everyone a good week ahead.
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