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SpongeTech Delivery Systems, Inc. Message Board

  • malcolmfreitag malcolmfreitag Aug 14, 2010 9:30 AM Flag

    Privileged (2 parts)

    as one is in Stockholm, overlooking the bay, and putting itself in a mood to recap all.
    Actually, as messy as it sounds, it is not. There are cases they are messier than this one, but only for those, looking at some boards it looks like the world is on fire. It is not and all will be settled, one way or another in a orderly process, based on the guidlines the law has issued. What is then left that brings up so many emotions:

    1) We all know, there will be a jury trial and their findings will put an end to what they did or didn,t do. But this should not be the problems of all the longs, because even if they would be not guilty, there could be no place in a future SPNG company, as by their action itself they proved that they are not capable to run a company. The mess they created with their actions is hard to defend. And for this, there is no excuse.
    2) From the SEC we do know, that the company made over a period of 9 months approx. $ 7.5 Mio which annualized would give approx. 10 Mio. Now, there are not many small-cap companies who can show such revenues. And if you think of it, it was in a period where SPNG was attacked on all fronts, from the SEC and from the media. If you can do this on bad times and under a management who lost control, imagine what could be done with this company under the guidance of strong leadership. The potential is huge and ideas plenty, to make SPNG a very sucessfull brand.But for this of course, SPNG will have to escape from chapter 11.
    3) Per End of August, there will be a representation from the new Trustee and one could expect by then to hear, if he received the financials to go ahead with the chapter 11 process and as well a fully audited and forensic tested sharescount. We should then hear as well, if he received a reorganisation plan which will include a)new management b) forward looking businessplan c) debt-reorganisation d) financing.
    4) If all pieces would fit from a to d, there should be nothing in the way, for not coming out of chapter 11, on the contrary it could be rather a speedy process. This as well could then mean, that the present shareholders will go with it as well - new Cusip this is all - somehow diluted, but at least with a fair chance to recover part or all. (This depeneds of course on the average paid)

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    • The Novel Prise

      That's the prize Sweden got for buying more Novelty Sponges than any other country.

    • Thank you, Malcolm---go SPNG

    • Great post!

    • Geez, malc, you don't even get "sweedish" humor, there is no hope for you, now go eat a sweedish fish.

    • "The figures Marvel has are unique for sure, but then you know as well, that you can create a figure like the incredible hulk and then rename it and put some changes on the figure."

      They already created a figure kind of like the incredible hulk:
      http://img46.imageshack.us/i/hulksponge.jpg/

      Unless you call it the Incredible Shmulk you probably won't hear a peep out of Marvel. And the kids are sure to love 'em!

      Ever consider a career in marketing?

    • >" ... when all is on the table, it will be dynamite. ... "<

      Either that, or you got cheated in a pump and dump scam, now bankrupt, your shares are worthless, and you are pulling fabrications out of your butt.

      One or the other.

    • First: Schnapps and beer is the favourite drink we take and by the way our brännvin - the Swedish vodka is much better than the one you get in your country. But now let,s go back to business: SPNG lost 2 licences this is a fact and the fact is, that they did not pay them. But there is a fact as well, that conversations took place for the time after, which is rather obvious. But, lets take the case you present "Marvel will absolutely not re-up the license". Would this be a problem? As far as I am concerned not, it would even safe a lot of money for not doing it. The figures Marvel has are unique for sure, but then you know as well, that you can create a figure like the incredible hulk and then rename it and put some changes on the figure. McDonalds got copied so much, but of course not under the name McDonalds and most of them became a success. But, in case SPNG escapes chapter 11, a lot will be different and it may surprise a lot of people, how different.

    • Screaming buy signal!!

      Sashcolm I want to share a bit of info for your friends that convinced that marvel will grant the licenses again. Didn't Disney acquire Marvel? I believe they did and Disney is the most anal company in existence about their image. I work with them on an annual event that includes their characters and themes in performances and in a televised motorcade. They won't allow a TV shot or a photo of their characters if there is another image in view. Nothing...because it dilutes the Disney experience. They screen the entire process months in advance and if you had ever dealt with them you would swear that it was a matter of national security.

      Marvel will absolutely not re-up that license...even if spng and the mutts are cleared. Way to much negative exposure. So tell your dinner party experts that they ought to stick to something that they're more familiar with...like vodka.

    • But Ikea made billions

    • more like an ikea table after an elephant sat on it.

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