Hey musicalchairs...
Maybe i'm not exactly sure what you are asking. But I love the theme :-)
My vantage point is that I am long in Spongetech. I don't have a million shares as some here have reported but i'm in nonetheless. I won't be 'laughing all the way to the bank' if this company actually files good financials but I won't be crying all the way to the soup kitchen if they fade into oblivion either.
As far as what I see from my little spot on the hill, I think Spongetech is not an out right scam nor is it a perfect company. It's clear that mistakes have been made. To what extent remains to be seen.
I do feel that the company has diluted it's common stock in order to raise the capital it needed early on to secure their marketing and advertising campaigns. Again, by how much remains to be seen.
The three amigo's each have a three year deal with the Company, not in exchange for salary but for shares of stock. This fact makes me believe that 'going private' is totally out of the question. Then there's Pike with 174M shares and Furth with his 41M shares. And there are others but not quite as large as those two. These things make me believe that a lot of people are counting on a rise in price. I have to assume that anyone willing to drop 6 or 8 million in this stock knows something that I don't.
So I guess what I see is Spongetech breaking their silence and finally releasing some updated financials. I had expected them to use the momentum of the upcoming shopping season to help propel the stock forward but only they know what the plan is (if in deed there is a plan). At least this is my hope. Not just for me but for those who put their daughter's college money into this thing.
I hope I answered better this time. Look forward to your point of view on the hill...
:-)
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