Hi Risk, going to use your post to re-post Doug's 10/3 FINRA message.
It is important to note that today's PR from the company about the FINRA extension request was a mandatory disclosure.
The company needed to provide FINRA with a minimum two week notice if it desired this request and was also required to notify shareholders of its initiation.
Note that in these times of heightened scrutiny it is imperative that the company follow the letter of the law and also be careful not to embellish any public releases.
Also please note that this DOES NOT NECESSARILY mean that the company will not make its filing prior to the original time. It merely means that they have made a prudent decision to allow for any worst case scenarios that may cause a delay that they are current not anticipating.
Everyone is rushing to judgement about things and seem to be quick to draw conclusions based upon worst case scenarios. Note that such may not be the case.
Also note that nothing in today's release alters ANY of the company's underlying fundamentals nor does it necessarily portend anything bad to come.
It is merely planning ahead in case extra time may be needed.
If you choose to believe in the worst case scenario then that is certainly your own choice to make. But it is not the only logical conclusion that can be drawn from today's PR.
If you sit back and take a deep breath I think that you can see there is a logic behind this that clearly can allow for a positive outcome.
I just hate to see people rush to judgement on matters that are not necessarily cut and dried and lose money as a result of hasty decisions.
Yes, the timing was bad, but it was mandated and the company had to put this out because try as they could, they just could not get the 10-K finihsed by this afternoon. But they are close.
Please do not buy into the shorts and the bashers who would have you believe that there is no possible way for this company to "pull it out."
As you will see they are often wrong and despite their best efforts to try and convince eveyone that SPNG is a scam and will never amount to anything, if you are objective and choose to do your own thinking, you can easily conclude that things can easily work out for the best.
Best of luck to all long shareholders
