Editor’s response: I think profit-taking, though it’s still frustrating. I’ve seen SPNG get right on the verge fo a breakout a few times now, yet falter each time. The market’s not going to wait forever on this one, though I’m willing to wait a while longer.

An other point to mentione here, is that SPNG is currently in negotiations with major retailers who are now evaluating and “test marketing” theire products. That may boost sales a lot!

How often does an investor find a way to invest along side with some of the smartest investors in Silicon Valley, at a fraction of the cost, in a publicly traded vehicle, run by execs with billion dollar track records AND on the verge of generating revenues for various new/existing multi-billion dollar markets.

Editor’s response: Mmmmm, methinks you’re a little biased. I’m going to go ahead and post your entry, because you’re basically right - this is a good ground-floor oportunity. Perfect? No. Sure thing? Never. But, it’s worth taking a risk for the reasons you mentioned above. It’s not all ’smiles and sunshine’ the way you describe it though.

My only hesitation - and the reason I’m not pounding the table yet - is that we still don’t have revenues. I personally think we’ll see them, but I make no assumptions.

On the other hand, waiting for that first revenue may mean you miss the initial jump. Sometimes you gotta’ swing on faith. I won’t swing for the fences until I see sales though.

Editor’s response: I think we’ll see 1.32 and more. As for when, I don’t know…that’s up to the market. All I know is the company is doing its part.

Editor’s response: Well, there ya’ go. Thanks for the note there. I think this last push may have gotten the stock out of its rut.

Any insights?

Editor’s response: I don’t think you’re missing anything. All the number look good, and are growing. The stock’s just not getting any love. That can (and probably will) change eventually, but ofr now I’d steer clear no matter well it ’should be’ doing.

Editor’s response: Eventually yes, though I don’t think it will be in 2008. I can see that in 2 to 3 years however, if they stay on pace. I think $2 is a reasonable target for 2008. 

Editor’s response: Great question - the one we were wondering about prior to last week’s quarterly numbers.

In a nutshell, no, I don’t think they’re spending too much to generate sales. Like I said in last week’s comments, I don’t mind them spending $1 to make $2. In this case, they’re diluting the stock to spend on advertising (by selling shares to raise money), but mathematically there’s more upside than downside.

Would I prefer they not issue stock to pay for marketing? Sure, but that’s an impossible scenario. I don’t mind dilution if I can make more money than not diluting….and therefore not doing any marketing. Eventually they’ll be able to stop issuing shares and pay for marketing with real cash flow. Don’t forget they were profitable last quarter.

A two-year price projection? Assuming full dilution (400 million shares), I think 30 cents or more is possible. It’ll be a wild ride getting there, but the math works out.

Editor’s response: We are still following them, though not closely. We decided to keep them on our watchlist, knowing that biotech devices can take a long time to really penetrate the market. I think MIVT is lower despite good news for two reasons….(1) a bad market, and (2) investors still don’t see a light at the end of the tunnel.

Welcome to biotech.

We may need to keep MIVT for years before it pays off. We think it will though.

Editor’s response: Thanks for the note. Anybody following this story should take a look….a step in the right direction.