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?
anything can happen
imagine new management, financials, OS (all together or in different steps)
wc (no, not water closet) and croonies have been revealed au grand jour
That was just about the most shameless pump I have read in quite a while. There is absolutely no correlation whatsoever between these 2 companies no matter how you twist the reasoning.
The only useful thing that can be derived from that thread is to note the author and his supporters. At least you will be clear (If not already) which posters on this board will stoop to unbelievable depths in order to deceive.
In my mind you got scammed and have lost your money to a pair of criminals. That is a very strongly held opinion of mine based on what I consider to be enough evidence to convict and shut down 10 scams. With that said, it is not fact yet. It is going through the courts and more will me known in time. In the interim pumpers why don't you cut the crap. You can not change a thing. At least if you are going to go down with the ship you could consider doing it with a tad more character than has been demonstrated by M&M.
I don't consider Hoggey's post a shameless pump at all. He never said the stock was going to the moon. He said, and he used an example, that a stock can increase in bankruptcy. He said that you don't have to sell at his point in the year just to take a tax loss; you can do it in December. And, I happen to agree with him. This stock is priced for bankruptcy right now. While it has been foolish to ride this stock down to its current pps, it's, IMO, more foolish to sell it right now. And, that has nothing to do with the fact that M&M are probably going to serve time. It has to do with the fact that the stock is virtually worthless right now ( a million shares is worth $500). So what's the rush? It's too hard, if not impossible, to sell right now, anyhow. Given that, those who are obsessed with deriding current shareholders (should) have no reason to be here except for a little monkey-like chest pounding?
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.
"...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.
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."