And of course that post was debunked because the PPS went
from .006 to .28. Gee, who uses that pump every time they post, trying to get longs to hold? Everything is great in SPNGLAND.
--------------------
POST ON YAHOO BACK IN FEB-09... AMAZING!!
How to Fake Income 12-Feb-09 04:07 pm Step 1.
Get a shell company
Step 2.
Issue yourself lots of stock
Step 3.
Set up three companies with interesting names like Dubai Import Export, SA Trading etc.
Step 4.
These companies then enter into purchase orders from your public company. put out press release (LIke the one in May 2007 for SPNG) about the new multi million dolar order
Step 5.
Stock goes up. You sell your stock. You even get on a radio show you own (mike metter owns business talk radio) every day to talk about the stock. You generate lots of cash
Step 6.
You use this cash to buy advertising space, sponsor sports events make commercial to sell some product but mostly to promote the stock (since you are really in the stock selling game not sponge selling game). You can even use some of the cash to sign liscense with big companies. HEY its worth 250l to sign a deal with Viacom if it helps you sell even more stock.
Step 7.
You put some of the cash into your three holding companies. THe brilliance here is that the holdings can actually pay for the orders (less the $3.5 million in comission andfees you deduct as per your income statement so that a $5 million order only brings in $1.2 in cash). This way when you are audited your orders are legitimate albeit not cash flowing and you can file your quaterly and aannual reports with the SEC and sell stock. You just hope that nooone notices the balance sheet is not showing increased cash all the activity is only on the income statemet. Since you are reporting real orders and balance sheet numbers you convinve yourself its not illegal just creative.
Step 8.
You use the cash that comes in to the company to pay your salaries and in a stroke of brilliance to buyback the stock you issued to yourself. You even promote this buybak as helping shareholders when its really just moving money back into your hands. You even spend money growing the business little as part of your stay out of jail plan.
Step 9.
You get on the radio again and again. Buy a banner at a sports show and dog show etc etc. But realty sets in a slwoly your stock declines as more and more stock is in the market. You convince shareolders that large firms are naked shorting your stock inspitce of your incredible earnings. Conspiracy theory keeps things going for awhile longer but even then the stock keeps declining. By keeping focus on the Short sellers you deflect from the obvious your stock is going down becuase it a house of cards.
Step 10.
Cards collapse. Shareholders Lose. You win. Hold you breath for five years hoping you dont get arrested and then repeat.
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