Spongetech Delivery Systems Inc (fka SPNGQ)

[patchman]

Buyins.net is a perfect example of a company taking advantage of a (exploiting) situation. Their site and what they offer has always irked me as it is impossible for them to present evidence of the level of naked shorts in any company. They claim to have all these algorithms that calculate out the level of naked shorts but….those models they created have never been validated against real trades and the information they would need would require them to gain access to proprietary (non-public) trade data. Without validation the logic and code they use is meaningless to the outside world. The fact that people trust their information as being accurate is a crime.

Now the mundane stuff they do is ok as they are simply tabulating data that is public information, (when a company goes on SHO, when it comes off, and even FTD data) but after that it is all smoke and mirrors. Buyins.net makes their money by having investors and companies pay for data that can never be tested for accuracy. Great gig if you can get suckers to buy it.


Note to Millenium - I know people at FINRA involved in the process because I researched the process and and in doing so talked to people at FINRA. In some cases there are some that I have talked to again and again when I have questions (general or otrherwise) that I am trying to wrestle. I would hardly call that "rigging an election". You need to spend less time shooting the messenger and do a little more research. DarkLady's post yesterday was shredded by longs and others here for the blatancy of garbage presented. Why have you not attacked the longs here who said the same things I did regarding that post? (This is post 2 of 3 available per day so don't expect a quick response)