JL,
#268660...
Salty,
Shorting activity, at its simplest, amounts to selling that which one doesn't own. The object being to borrow an extant long position for selling purposes. Repurchasing, at profit, in the open market thereafter. Returning the acquired position to the party/parties originally borrowed from.
Failure to, at the very least, arrange a borrow in the first place resulting in what's called a naked short. A host of such activity resulting in the creation of a significant phantom float.
The 'shares' in question represented behind-the-scenes as IOU's. Book entries. A 'position/positions' in need of being bought-in i.e., covered. Open short positions closed. A buy-in.
A controlled buy-in being that which takes place gradually. In the absence of sparks/catalysts that would precipitate the additional massive buy-side. The serious upside.
The absence of a 'squeeze'. Buying-in at lowest possible cost.
Controlled. Deliberately orchestrated.
All of us well-realizing, as an example, just what would have been precipitated, at market level, had the inside earlier filed the Form 211 and Addendum to a successful outcome followed by the opening of the PR and filing, etc. floodgates.
The whole of the goings-on serving to massively reduce a pre-existing phantom float. Sending a telling message, in general, additionally. That egregious abuses will no longer be tolerated.
The future wide open.
All to the good.
And sure. The MOASS would've been awesome. And who, again, knows what's to come once the market level fireworks do get underway in earnest.
We shall see.
The reality being that once the undeniable does emerge, in full, market level will rocket! Huge entering/adding interest. Massive retail and institutional level monies flooding in as the forward periods picture becomes ever-clearer. Projections and guidance. That which always feeds that proverbial bulldog.
An agreement having been arrived at. A meeting of the minds.
With yours truly, for one, harboring no argument whatsoever.
None.
And hope this helps.
Bryan...
The post-suspension weekly trading stats….
07-DEC-09 0.0500 0.0350 0.0490 51406750
30-NOV-09 0.0500 0.0400 0.0500 51423380
23-NOV-09 0.0600 0.0400 0.0500 38682770
16-NOV-09 0.0500 0.0400 0.0400 50727760
09-NOV-09 0.0620 0.0400 0.0460 98723600
02-NOV-09 0.0575 0.0400 0.0490 111050100
26-OCT-09 0.0600 0.0200 0.0480 112750400
19-OCT-09 0.0670 0.0200 0.0520 662869200
Jay…
You're very welcome.
With a need of bearing in mind the actual motivating factors behind the suspension. The cessation of trading in place following a precipitous drop from above the $0.20 level. Protecting shareholders from further shorting abuses. A break in the proceedings. Cooler heads prevailing.
The company's greatest detractors twisting, as always, the truth.
And thank you for a well-written, well-considered reply in general.
Together, we win!
To-smile-about ROI.
That which management has every intention of delivering.
As PR'd...
(July 22)
'SPNG, today announced that its Board of Directors has authorized an increase in its stock repurchase program from 100 million to a maximum of 150 million common shares.'
'SpongeTech®’s CEO, Michael Metter stated, “Based on our sell-through rates across our product lines and the success of our marketing campaign, we are anticipating strong growth within the Company this fiscal year. Even at current market price, we feel the stock is very much undervalued and we are committed to support and maintain the fundamental value of our Company’s stock.”'
'“Today’s action demonstrates the Management and Board of Directors strong confidence in the long term strength of the Company’s cash flow generation as we intend to continue reducing our share structure. We remain focused and committed to building SpongeTech® into a globally recognized Company, therefore enhancing shareholder value,” added SpongeTech®’s COO, Steven Moskowitz.'
Having a good one.
You and the rest.
P.S.,
Spino...
Just a note to say hello.
To wish you and yours all the best for the holiday season.
Your contributions to the board being sorely missed.
Taking care.
AI
