Hey Romo, we seem to be holding on at 8 cents on pretty high volume. I picked up another chunk at just below .8Quote:
Originally Posted by imromo24
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Hey Romo, we seem to be holding on at 8 cents on pretty high volume. I picked up another chunk at just below .8Quote:
Originally Posted by imromo24
feel free to pick up some chunks, but imo i think its going to go lower...Quote:
Originally Posted by candleman
I looked up the history of two companies that had to reaudit, it took "itwo" voluntarily reviewed 4 years of books that took nearly 6 months to do (though they may not have been in a hurry until the delist notice came in May 2003) even after they were delisted they took until july to finish.
SO....
1) 4 years of books to review took 6 months. (we have 2 years to review)
2) itwo ended up losing $359MM from book cleanings (meaning they found they actually showed too much profit) (we only had $5MM or so revenue) I don't think it should take long to filter through that little amount....also, theres not much downside there either.
I did some very stupid math and it goes like this itwo $359MM spng 1/60th at $5MM and itwo took 6 month for 4 years of reaudit and spng only has 2 years..
so 2yrs/4yrs = half the amount of work (so it could take us 3 months because it took itwo 6)
then
itwo $359 spng $5MM so 1/60th of 90 days = 1.5 days to review the books
LOL, told you it was stupid math...
anyway, the point is its a smaller review, and im sure they have D&T involved now (i also read D&T does high profile reaudits)
another fact is the CEO said the accountant issues are unrelated to spng, so the books may be in good shape and could be turned around quickly, it wasn't a spng problem.
They got the notice to reaudit 2008/7 on September 11th (thanks sec real patriotic, come on its americas cleaning company) Its now 7 days later...In my completely unprofessional opinion I think we could see the 10k as early as Monday and as late as mid October.
If it isn't done by 9-22 i don't think they can do the RS, there was a stipulation that the RS needs regulatory approval, imo not filing a 10k on time would probably negate the RS.
The point of the whole thing is, if you have dry powder, wait....if you have shares, hold.
itwo went from .57 to $11 in april 2005, then in june or something it went from $8 to $22...spng should be the same type of movement, it is highly highly undervalued right now (problem is, it will continue to go lower until the reaudit is done)
HOLD and accumulate dry powder to buy lower...
i checked and it had gone back to .09, lol...don't get me wrong upwards is much much better than getting some more shares lower...;)Quote:
Originally Posted by candleman
id watch for some headfakes to generate buying before the mm's take it lower, like i said, the 10k is the only real thing thats going to make this move (without coming back down after a move up)
Listening intently over here. My plan:
1. Move some funds over to my TDA account to buy some SPNGE next week, early.
2. Buy said stock. Sit on it.
3. Wait for the 10-K filing, see what happens.
4. Sell before reverse split.
5. Make money.
Am I on the right path here, guys?
the RS is supposed to be tuesday, your timeline would only work if the RS is extended or cancelled tuesday during the day (takes effect at 5pm 9-22)
Well, it sounds like ROMO has done his homework on this thing and the 10k should open a ton of eyes.
Are we saying that they HAVE to wait for the 10k to be completed before the R/S? If they could somehow pull off an R/S and wait to get listed, THEN release these ridiculous numbers, that would be NUTS.
Does everyone think S/P will definitely take a hit after R/S?
Okay, then based on what you said above, Romo...help me play this thing. I have funds available today to buy, if need be.Quote:
Originally Posted by imromo24
Or I can wait. You know this stock better than ANYBODY I know.
the post split pps is a tough one to call, there is something weighing the price down right now, depending on what events occur before or at the same time as the RS those weights could be removed...the true value of the stock is .30 IMO right nowQuote:
Originally Posted by thetree
Quote:
Originally Posted by GoHerdGreg
if you don't have any shares any point under .20 is a buy, lets think this through smartly though... if you have zero shares buy 25% today at 3:45pm's price, wait the day out, i think this .09 is a headfake and they'll take it down again soon...
then, wait until tuesday to find out what happens with the RS. If its cancelled, maybe buy another 25%....then wait...when the 10k comes out buy the rest immediately (this could be days or weeks from now, the wait is on).
something like that...my brother sold half his shares today to try to play a move to .05, thats why it went green today LOL, he's the bottom indicator so it all may be out the window now.
Either way, the stock is not trading normal, neither fundamentals or TA...its on its own.. my brother said he had his ask set lower than the bid and it wouldn't go through, tell me what that means...i know people have said they place bids well over the ask and can't get them to go through...
sorry the price is worth .30 right now thats not my opinion, the fundamentals show that clearly, what we don't know is what the outstanding shares are...but we have been told by management their goal is 500MM, right now the databases show 722MM...the buyback ended 9-5-09, so the OS could be less than 600MM right now...
when the 10k shows the 11MM profit and forward statements show $50MM plus profits in 2010, you can do the math on that...
I read up on the chart called a double bottom, it seems the double bottom has to go lower than .08 to be official, i think we may have hit that today...maybe someone can explain and look at spng in respects to a double bottom chart....
by the way, the first bottom of the double bottom on spng was back in june on black friday, when it hit .28 then dropped to .08 in a day or two...
spng
what is support under .08? that would be the likely low to confirm a double bottom chart. That would be a good buy point...whatever support is below .08, i think its .05 but dunno, just remember it stayed at .05 for a while before heading up back in may
It's looking like getting in this morning at under .08 was a good move. I haven't made many of those lately, so this is feeling very good!:):cool:
QASP is making a nice run up today. Up 25% already over yesterday. This is a swing traders dream!
qasp is making a nice weekend run... well, i did it, i took some off the table at .028 and .0284....it was all my buys from .04 down to .02...it was a break even trade for me. my average is now 300k shares at .019. lets see if me selling into todays rally and into the weekend is a mistake or not.. i know with the company buyback starting next week the run may go higher , but i feel comfortAable doing this and i still have a shitload of shares for a major rally. may have to downgrade to a used bentley instead of a new one:(
candle you flip QASP today?
im also considering buying up more BCLE if it gets down to .015 again now that i have some dry powder. i also will be reloading QASP on dips especially if it decides to fill the gap from the other day.
Not yet! I have a sell set at .032, if it goes, that's a tidy little 35% profit in 30 hours. And I'll buy back as soon as it hits .026Quote:
Originally Posted by bassmaster
If it doesn't sell at .032 I'll just hold on. And I'll buy more if it dips at all today.
By the way....SIRI is holding pretty well today considering all the trash talk that it has endured lately. It MAY be worth considering buying some of that today for any longs.
i dont like your sell at .032...if we break .03 , .034 is a very easy target (from the gap down). there is extremeley strong resistance at .03...only my opinion but play your game bro.
I put in a limit (day) order for SPNGE at $0.06, just to see if this is a headfake like Romo alluded to. It's kinda' like fishing for catfish; you just put nasty stuff on the bottom and see what bites.
If that doesn't fill...then I'll see what's shaking at 3:30pm and try to get a buy in then.