I'm not sure of your numbers. If the market cap is 3-4m then using using your higher figure and the close price there would only be 59,701,492 shares outstanding.
Since the SEC says there's 3B shares outstanding which everybody was (rightfully claiming, except us longs, I never committed either way) then the market cap would actually be 3B x .0067 =$20,100,000.
The question now is how much are the assets that the SEC frozen worth and could they possibly have spent all the money they raked in issuing 2.25B (roughly) shares.
I'm still holding roughly 100,000 shares from my original purchases that started way back in Nov 08. I started accumulating @ .02 added @ .008 and sold as it rose to over .20. The remaining shares I consider bought and paid for as I reaped the profit I desired and held on to these as speculative.
The SEC has stated that they froze the accounts
1) preliminarily and permanently freeze the assets ofDefendants Spongetech,RM Enterprises, Metter, and Moskowitz to retain such assets for distributions to the victims of the scheme;
preliminarily and permanently bar Defendants Pensley and Halperin from providing professional services to any person or entity in connection with the offer or sale or securities, including but not limited to, participating in the preparation or issuance ofany attorney opinion letter related to such offerings; and
m) grant such other relief as this Court may deem just and proper.
The question being I would ask now is what are their assets worth and how would the SEC distribute it.
If they dumped 2.5B shares into the market it's reasonable to get a figure of what they sold them for? Of course some of them were given to pumpers and others, How many?
I guess the answer to why people are still trading it is betting on how many assets will be available.
Other questions to answer: What is the pecking order of to the assets. Lawsuits, shareholders etc.
How much of the cost of investigation is allowed if any to be taken.
Is it possible that somebody will purchase the rights to market and sell all of the products.
It's been fun to watch this long, guess it will be fun to watch for a while longer.
In the end will I see anything, probably not. As I said it doesn't matter to me at this point, it was Vegas Money for me, either I hit the jackpot or I didn't. Yes I know how much more money I'd still have had I sold it off long ago, but I got what I wanted and left the rest for fun.
AI
