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SpongeTech Delivery Systems, Inc. Message Board

  • malcolmfreitag malcolmfreitag Jul 15, 2010 4:27 AM Flag

    The O/S again

    As all of you know, if somebody is dealing for too long with something, the danger is given, that one could miss something, which of course can have consequences on the outcome. Being constantly in doubt about ourselves - nobody is perfect - we decided to let somebody else do an extensive audit of the T/A list, dated December 2009 and which has been presented to the SEC and therefore, everybody had access to it. Now, the person we gave it to, is a student of mathematics and always keen to make some money to finance her study. She doesn,t know SPNG and of course we took the name from the T/A list. We just asked her a simple question: 1) Review the list and come back with questions and then we will tell you what we want to know. Well, after some days she came back and asked us, about the right colume - where one sees Numbers attached as she found out, that the same numbers come up 2-5 times. We of course explained to here, that those numbers present a code to trace a certificate from the 1th issuance through the life of the certification until to the cancellation date.(Like a birth certificate up to a death certificate) This was all she knew. Yesterday evening, she mailed to us her findings and gave us 3 numbers, behind each number some comments:
    1.) 995.015.020
    2.) 944.015.020
    3.) 728.015.020

    From 1 to 2 is a difference of 51 Mio shs.
    From 2 to 3 is a difference of216 Mio shs.

    In total from the highest to the lowest is a difference of 267 Mio shares. She could not find the key to them, we neither. However, this morning a light flashed: Some months ago SPNG filed an 8 K with an extension right to the company from RME were the figure of 267 Mio is mentioned. I don,t believe in coincidences.

    The surprise for us was, that here findings diverged from our findings by about 528 Mio, which is rather large and would have asked for another run through the figures, however, her presentation actually comes to the 728 Mio figure, which of course is what SPNG always said. As she did not know anything about SPNG and therefore the quarrel about the O/S, for us her work must certainly be prior to our findings.
    I just had in mind to let you know those findings even to risk, that we could have eggs all over the face, as at the latest on the 23.7.2010 the O/S count will have to be presented. But again, based on the list we reviewed, 3 billion, no way.

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    • Malcolm, once again you have managed to top your own pathetic lows of stupidity.

      "3 billion, no way."

      HOW MANY TIMES (seriously, how many times) must you be told that according to the SEC, FBI, etc etc etc that the share count is well north of 2 BILLION?

      Is there any circumstance in which you would accept the facts instead of continuing to indulge in fantasies?

      • 1 Reply to GO_NY_METS
      • Go... you are a typical representant of citizen, who believes, whatever comes from the government. If they tell you, - no increase in tax - you vote for it, just to realise, that the taxes have been increased. If they issue a statistic, you accept it, without question. Well in the Eastblock one had this kind of thinking, did not survive. Just because you have a list in front of your nose - and you have access to - it doesnt, mean, that the list is accurate. Why don,t you take off 2 days and analyse the list and then come back with your findings. You are a typical basher: Always yelling, but argument, to counter, no way.

    • Excellent questions....

      1. Why did she come up with 3 sets of numbers?? Specifically which documents/file names was she using?

      2. The 267M number looks magical!! Why did Mosko, Metter & lazauskas file form 3 with RME as 66Million shares??

      • 1 Reply to my1point
      • I did my work, she did her work. At least all what we can say: Based on my work the O/S would be approx. 1.2 Billion, based on her work it could be 728 Mio. The problem I had - and she as well, there is rather a confusion on the CEDE side. But one thing is clear: If one goes through the list one has only one tool to track the beginning through the end with the code numbers attached. So either the attached code numbers are wrong - then of course she and I will be wrong as well, but then I have to ask, why presenting such a list to the SEC, which everybody taking the prudent time could prove wrong?

    • Did she mention what she thought sales were?

      Do you really think this matters at all?

      The O/S could be 27 and the PPS is still too high in my opinion.

    • Malcolm,

      With all due respect, you are wasting your time. M&M made sure to max out every last share of A/S to buy their fancy cars and houses. They also drained cash from Dicon to do same. Trust me, it's not worth spending time analyzing and rationalizing a situation that is embroiled in massive 100% criminal fraud.

    • Glad to hear you are signing onto ending this mess once and for all. It will carry much weight coming from you.

    • Go... your reply speaks for itself. The usual cascade of brainless bashing, but no clearance of the problem. But I said it already, so it is not surprise at all.

    • why do you think they are selling the bridge? it is so they can pay for the food and water, so it will be both an investment AND charity all rolled into know, like spongetech......are you in?

    • I've already given proof positive of naked short selling in SPNG. The fact you refuse to acknowledge said criminal activity will not change the fact of the matter. SPNG has been abused by illegal and manipulative naked short selling.

      To repeat: it would be impossible for broker dealers to comply with REG SHO when they're selling it short day after day after day after...

      In other words, since the broker/dealer can only sell short when they're confident they can indeed locate enough shares to deliver them in time for settlement, it would be impossible to comply when heavy short selling occurs for more than 3 consecutive days.

      If you look at the volume of REG SHO short sales in SPNG throughou the year, you can see the shares have been consistently and heavily shorted, with volume of short sales over 80% of total volume on some days.

      For example, go into April 2010

      As always, scroll down to ORF. Then just start with April 20th and begin checking every date through to the end of the month.

      What you find is that on consecutive days from the 20th through the end of the month SPNG is being shorted with the volume of short sales running over 50% of total volume. Incidentally, there are a total of 9 consecutive trading days from April 20 through April 30. And there are only 3 days until trades settle - T+3. Therefore, by shorting the stock every single day, the market makers, broker/dealers have already violated REG SHO and failed to comply with the requirement to locate and deliver the shares for settlement. In other words, the math just doesn't work. Even if the volume of short sales didn't run over 50% of the total, the BD, by shorting every single day, they automatically create a settlement violation and Fail to Deliver problem.

      If the BD' excuse is "normal market making activity," then they're guilty of price manipulation by squelching legitimate accumulation by meeting the buyer's demand with counterfeit shares.

      And IMO, this is the more serious violation, which has been further compounded by the SEC's and FINRA's failure, and indeed refusal to enforce these rules.

      But guess what, the consecutive days short selling didn't begin with April 20 and then end April 30.

      By my calculation, there may be over one billion shares in the FTD status.

      Get with it FINRA and SEC. It's your data referenced so either enforce the rules or offer proof these short shares were eventual delivered for settlement. And if you're going to enforce the rules by going after SPNG, M&M, then go after the short and distorts too because they've done every bit as much harm to investors, and perhaps even more.

    • good numbers and work.
      we'll know by 23/7

    • That's a great guys get to work and send the official findings to the authorities so they can clear this mess up and get on with the MOASS

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