<< You've already maxed your short position long ago. >>
I've been completely consistent all along in what I've said. And what I've said is that:
1. The stock price would rally prior to the due date of the 10-K;
2. The 10-K will be delayed and the announcement will be made after the close next Monday;
3. When that happens -- and it seems pretty transparent to me already that this is in the cards since Spongetech has already told you that they've fired their auditor, Robison, Hill -- the stock is going to fall off a cliff;
4. As previously stated in other messages, there's no way Robison could have completed this audit in time for an Aug 31 2009 release date in any case. The due diligence requirements associated with getting confirmation letters back in the mail from far-off places like Russia and South America make that completely unfeasible. Moreover, Robison is required to visit and kick the tires at Dicon since the Dicon acquisition is a material subsequent event for compliance purposes under Sarbanes Oxley. And since we all know that Dicon had shut its doors back in 2007 you have to have major questions about the quality of the audit work papers they had available for Robison when they showed up. Simply put, when a company shuts its doors, the first thing to go is the debits and credits guy since why do you need meticulous audit work papers when the barn is burning?
5. I have no economic stake in this company one way or the other now, though I will tomorrow. However, the main reason I've wanted to visit this board is to see if there was anything I was overlooking. There isn't. I still have yet to see one person who's a fan of this company make a cogent case, much less a compelling case, to own this company.
In any event, I guess we'll just have to kick back and wait and see what happens.
But believe who and what you wish.
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