Unfortunately this message board is infested with bashliars. Bashliars are crawling all over the board like cockroaches scurrying around a dirty kitchen counter looking for crumbs in the leftovers under cover of darkness. And that's especially true of this message board considering it's littered with the bashliar's garbage posts. It seems their only talent is to insult shareholders. Like the cockroach in your kitchen, the bashliar's objective is to steal from you.
And like that desperate cockroach scurrying about under the cover of darkness in your kitchen, looking for crumbs, these bashroaches are trying desperately to steal your shares. With the pps trading for crumbs at a half cent per share, you'll only get $5000 (or crumbs) for each million you sell.
Put another way, the current price will net nothting more worthwhile than a tax loss. Of course SPNG is a viable candidate if you need a tax loss. Only the bashliars fail to mention you've got all year, until late December to sell and a lot can (and might) happen between now and year end. Maybe the worst is yet to come but then again, Xmas comes in December. Never know what will happen between now and year end.
So maybe a little patience & perspective is advised.
In full disclosure, I don't have a painfully high cost basis like some shareholders. I purchased the vast majority of my shares under a penny. And I'm still trying to buy more - not having much luck lately.
And while I would love to have your shares at current price, I would hate to see the bashliars succeed in their goal of manipulating you into selling your shares.
Like I said before, the stock is already priced for going out of business, so the only reason, in my opinion, to sell at current prices would be to take a tax loss. But why now, considering you've got until late December to sell.
Of course the shares can go to zero, but a lot of good can happen even during bankruptcy proceedings. Take for example, Vermillion, ticker VRML.pk (formerly VRMLQ.pk).
If you look at the chart of Vermillion in the link provided, you'll notice the explosive move made by the stock - AND WHILE THE COMPANY WAS IN BANKRUPTCY PROCEEDINGS.
That's right, VRML.pk filed for bankruptcy. The company filed for bankruptcy and a "Q" was added to the end of the ticker symbol so investors would know the company was in bankruptcy - but certainly NOT BANKRUPT.
You'll notice the stock price exploded while the company was in BR proceedings, going from $0.01 per share all the way to $32 on March 9, 2010. So in a few months time, the stock price increased 3,300 fold. I imagine those Einsteins who took a tax loss in July 2009 when the pps was $0.01 didn't feel very smart when they saw the pps hit $28 Dec 30.
I don't know what will happen to SPNG. It's possible the pps falls to 0.00. I suppose anything is possible. There are NO GUARANTEES in the stock market. You have no more guarantees that SPNG's pps will appreciate like a Vermillion than you have of the company going bankrupt or its pps falling to $0.00.
Think before you transACT.
If it hurts your feelings the bashliars calling you idiot, moron or stuck or bagholder, remember the biggest stucktard is a short trying to cover during a squeeze. The only thing more desperately and pathetically stupid than a short caught in a squeeze, is a Naked Short Stucktard who's Fail to Deliver is covered through forced BUYIN.
The bashliars desperately want you to sell - ever wonder why?
Where exactly did you imagine this statement?
"you got stuck holding back on a $139,000 loss in this stock..."
Please prove your statement.
I'm amazed at how easy it is for you to tell lies. You make some idiotic claim, which you know to be completely false, but then you offer no proof. But then there is no such proof for you to offer.
But then nobody takes a desperate bashliar like you seriously.
"yet you continue to blame the evil naked shorts."
Well FleetEnemaDiver, that's because FINRA posts the data revealing the REG SHO (naked) shorting occuring on a daily basis. And then FINRA publishes their Disciplinary Action Reports showing how these NSS try to hide (cover up) their naked short selling.
You can find examples in this particular report.
But then that assumes you can comprehend what you read - on that score, the issue is in doubt - as in it's doubtful you'll be able to understand what you read.
I'll tell you what's really FUNNY crusher: it's the fact you can't read, or more precisely, you can't comprehend what you read.
In fact, that seems a common trait among the bashliars: you guys can't comprehend what you read.
Let's take for example your bashliar post made on May 19 of this year. You claimed, "metter was wired," when in FACT he'd been WRUNG OUT by the Feds. You made that claim based on your reading of an article in Crain's New York Business.com, which said "Feds WRING Spongetech Chief Exec."
Get it crusher? The "FEDS WRING Spongetech Exec," not WIRED, not WIRING. BUT WRING, rang and WRUNG!
That's a play on words, since he's Chief Exec of Spongetech and you "WRING" out wet things like dish rags and SPONGES. Now that's FUNNY - Did you think "WRING" was an abbreviation for Wi...ring?
Now I must admit that it's getting hard to find the motivation to debate bashliars like you because you're all embarrassingly stupid and pathetically desperate to get longs to sell their shares.
But I must also admit that's FUNNY too.
Your desperation to distort the facts is FUNNY because the tactics you're using are sadly ineffective and impotent. Seems the only thing you guys have left is to try and make us feel bad about owning the stock. Please, that's funny. And if the stock is worthless like you claim, then why waste your time on this forum? Indeed Why?
Let's take your statement about the shares being worthless: "the fact that they own worthless shares and are in denial about that..."
If that's true, then you don't need to post. Go on to the next assignment.
Now I reach an altogether different conclusion since I've struggled to get filled on a good many buy orders over the last few weeks. I've used limits but they've been well above the current pps.
Now don't bother with bashliar bullsh^t about nobody buying or being able to buy because there's been a considerable volume - even with the DTCC's Chill, the shares have a decent volume. In fact, there's been more than enough volume for my orders to get filled.
And there's really only one way to interpret that FACT: the shares are WORTH SOMETHING to somebody or quite a number of somebodies because quite a number of buyers have struggled just like me to get their orders filled.
But then that shouldn't be a surprise to anyone investing in the pennies, since penny stocks are speculative and investors buy them expecting to make a big ROI. That stands for "Return on Investment" crusher.
The more you try that tired tactic about the shares being worthless and shareholders being in "denial," the more I realize how you bashliars are in denial. And you want to know what you're in denial about? I'll gladly tell:
You're in DENIAL about how much the naked shorts can lose if the SEC fails to "WRING" SPNG right out of business.
And you're equally in denial about the 1-2 billion naked shares in circulation. And it goes without saying you're in denial about who stands to lose the most here, because it isn't the longs. Yes, the stock can fall to zero, but then there's always the possibility the SEC fails to prove that M&M were the ones to distribute those "2.5 billion illegal shares" onto the public markets.
Here's a dose of reality. If SPNG goes Bankrupt and/or falls to zero, I'll lose a few bucks and move on to the next play.
But if SPNG wins, then all those extra shares in circulation - about 2 billion or so - will lead some unlucky short seller into bankruptcy because you will not be able to cover.
Spongetech does not own Proteonomix. As far as I know, all they have in common are a few shady characters and going concern issues.
How exactly does the failing Proteonomix operation portend good things for a company with which it has no financial ties?
You've tried this "two China-based companies" thing before. Remember?
"We received the first order for the materials for the production of 10,000 kits at $100 per unit. Pursuant to the terms of the purchase order, we had to demonstrate our financial ability to manufacture the raw materials for 50,000 units before payment for the first order would be made. We were unable to demonstrate our financial ability to manufacture 50,000 kits and the purchase order expired. The president of China Biopharma and Sinoqest has informed us that if we demonstrate our financial credibility with cash or cash equivalents of $1,000,000 and produce and sell cosmeceutical kits in the United States, the order would be reinstated. There is no assurance that we can demonstrate this financial ability and, even if we do, we cannot guarantee that the order will be reinstated."
(From your linked 10Q and prior filings)
Can you point me to where you provided support for this statement? I missed it.
"But I am saying that there may be a viable strategy available to move the Company forward, and it is coincidental to this discussion regarding Vermillion."
"...if similar developments can be expected of Spongetech..."
Well, there is this.
It talks of patent applications being assigned to National Stem Cell...
and about the identification of biomarkers...
and stem cell therapies for disease and injury.
As well as the licensing agreement with two China-based companies for Proteoderm's products (probably Sinoquest and China Biopharma).
And of course, there is now the OTCBB listing for Proteonomix.
And a 10Q.
So the distance in parallels may not stay as great as is currently the case.
I'm not saying that, "...similar developments can be expected of Spongetech..." as we see with Vermillion. But I am saying that there may be a viable strategy available to move the Company forward, and it is coincidental to this discussion regarding Vermillion.
What basher lies, they seem to have called it to this point. Most lies have been from the company management. I guess we will see what happens with SPNG, surviving and thriving maybe that will happen, too early to tell.
"What basher lies?"
I'll give you a couple of examples. But there are too MANY to post all.
In fact, you may be surpirsed to find these bashliar posts helped sway the case, by tipping the scales of justice in SPNG's favor.
I believe these bashliar posts show the short and distorts are intimately involved in this scheme to distribute illegal shares onto the public markets. But then that's a topic for another post and another day.
However, though it's been alleged SPNG, RME, M&M conspired to sell some "2.5 billion unregistered shares" it may be the only violation committed by the M&M boys was when MM had to find a way to payoff his multi-million $ award from the lawsuit.
IMO, he conspired to get the restrictive legend removed from his shares, and maybe a couple hundred million or so extra for good measure. That would make sense since he had the Motive, Means and Opportunity.
In other words, I believe he needed a few million dollars to payoff that, what was it a $6 million judgement? So I believe he's the one who conspired to get the restrictive legend removed, but on his shares, not all those shares now in circulation.
I believe someone at the TA's office spotted the violation and, seeing the opportunity, told their friends at Knight or perhaps one of the HF's that specialize in shorting penny stocks. It would have been the perfect opportunity for NSS to short a couple of billion shares. All they had to do was blow the whistle and claim that M&M put all those illegal shares into circulation. Their's is a game of deception. And the ultimate deception is to blame someone else for your crime. And why not, since it's clear somebody at SPNG violated the rules.
Apparently the judge must agree with my assessment, since she's not granted the SEC's requests for a receiver. But if this case was as open and shut as the SEC and bashliars allege, seems a "no brainer" the judge would waste no time appointing a receiver.
Whether my theory is correct or not, it's really not that difficult to figure out. Nevertheless, I don't want to go into all the details on this MB, of what I think likely occured. However, I've already explained, in some detail and in several previous posts, why I believe it's highly unlikely that M&M sold those "approximately 2.5 billion illegal, unregistered shares," as alleged in the Fed's complaint.
But for now, let's focus on the short and distorts, aka bashliars and how they work to destroy small companies, by spreading false and misleading information designed to manipulate shareholders into selling and...
Let's start with this post made on May 19, 2010 proclaiming SPNG was going to declare Bankruptcy by the end of the week.
"Bankruptcy to be declared by end of the week"
and the basher's comments, quote:
"they better hurry before they get really screwed. Of course, investors still holding will never see this above $0.08."
Let's translate "they better hurry before they get really screwed."
That means you, the shareholder, had better hurry and sell NOW because once the company files for bankruptcy, you'll "get really screwed."
And this post is about as flagrant (or stupid) as they come
the basher claims, and quote:
"metter was wired...the feds know more than you..."
Actually the article the basher uses to claim Metter was wired actually said, "Feds WRING Spongetech Chief Exec." That's WRING and NOT wiring or wired. Whoa.