The fact that Pike purchased 20% of the O/S based on a max. of 722m, means that Pike did its Due Diligence. That Pike has a partner who worked for the SEC and also for Price Waterhouse as an Auditor, that as such Pike would not have purchased spng if it thought it was how your characterize it.
Further the fact that the Form 3's filed so far indicate that the O/S are mostly likely no higher than 500m. That the amt. of O/S can be calcuated when RME files its Form 3.
And when the 10K, 10Q are filed, and Sept sales are reported it will be shown just how well this company is doing IMO. If you recall, on 8/31/09 spng already filed with its extension docment that 2009 Revenues were $50m, and Profit was $11m. Those same numbers have I think been on one of the company's websites for quite awhile. So this is not new news.
This is far from a "garbage" company. It is projected to gross $300m in revenues for FY 2010, and profits of $60m. First qtr. 2010 results ended 8/31/09 have been estimated to be $70m rev. and $20m profits. such revenues are higher than all of 2009.
Garbage no -- super growth yes!!!!!!!!!!!
