Hello, Happy Guy I agree with you.. The shares do exist in our accounts and someone sold these shares above and beyond the actually number of legal shares issued and O/S by the company.
Some one will have to buy back all those shares to make the number match what is in the O/S..
I was only speculating on how high the number of Naked Shorted Counterfeit shares could be.. Ie 1,850,000,000. I have heard a lot of different numbers..
I look at it like this.. There is going to have to be a covering of these fake shares eventually this will get done.
Spongetech is not going to go out of business..
Now the question in my mind is what will be the driving force behind a move to force those who are short to cover..
Will the company structure a deal to sell them the shares they need.. Or will the company force the shorts to cover the shares they need in the open market.. I am going to allow the company and there legal advisers to do what they feel is in the best interest of maxing out shareholder value.
It all comes down to supply and demand.. It obvious to me that more shares exist than whats legally allowable..
Let's assume for a moment all existing shareholders are now net sellers and not buyers. In other words we own the shares the Naked Shorts are going to need. And we are all looking to sell our shares..
Now assume the naked shorts are only willing to pay x $$ Amount to buy our shares.. In a sense they can set the price and if they hold that PPS what's going to force them to start paying more.. We are net sellers..Looking to cash in.
Stop and think for a moment about all the money sitting on the sidelines that would like to buy into a growth stock like this.
The Big Institutional and Mutual Funds that really can move a stock right now can not buy an OTCBB Stock.. Yet we are going to need more buyers coming in. Buyers that can compete with the Naked Shorts..
Buyers that will force the shorts to have to start to pay more for the shares they are going to need to cover.. Because in all reality without more buyers coming in those who are short can sort of set their own covering PPS..
I am going to assume the company has a plan in place to bring in more buyers to get the sideline money that is watching and waiting involved. In my my opinion and that's all it is. The company wants to use it leverage to it's full advantage.
I honestly feel there is going to be an event of some type to bring in some sideline money.. Money that also is going to want to be shareholders.. New money taking positions for the long term growth prospects..
Remember once some of this sideline money starts to come in and starts buying shares. Shares the Naked Shorts are going need. Then in theory shareholders can set the selling price..
In any event so much to think about and look forward to. The 10-K will tell the truth..GLTA FFB-Fish
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