Spongetech Delivery Systems, Inc. (fka SPNGQ)

[ROB]

This was posted yesterday by D. Furth over at the yahoo board. I am putting this up here. First let me say a few things from my end. Take it for what its worth and make your own decision if you BELIEVE or not. Then I am out for a walk and still holding my bag. :)

I have been in touch with the COO/CFO yesterday late in the day. This took him by surprise and he was not at all pleased. Insiders so to speak and employees and family members of the company were not involved in anything that took place. NO dumping of shares or anything as such. It was difficult for management to watch as it was for all of us who were concerned. Everything according to Steven M. as was presented the other day at the conference in Miami is all still in tact. NOTHING has changed and the direction if anything is more full force and with conviction. Whatever his plans have been its all still on the table and as things unfold we all will be informed by PR's. As far as Doug's post below as to what took place I agree with him.

Now lets take a deep breath and take a step back as in all honesty we got a reality check yesterday of what the OTC manipulation can be like at its best or shall I say its worst. We start out Monday at our closing price and we move forward from this point. Its unfortunate for those who got sucked out from this on fear and panic which is understandable when you witness what was going on. C##t happens. I am using the word "we" meaning whomever is riding my back means the "we". Again, lets not loose focus of the big picture here and I would be a liar if I said yesterday didn't get to my gut either. It did but I am putting this behind me which is not easy and looking forward to whats to come. Good luck to all who continue to believe. I know I do and I know many others who do also and a lot of them are right here on this board. Some old and some present. We will experience bumps in the road as we go along.

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from Doug Furth


Good Afternoon 12-Jun-09 02:39 pm I am am bit busy at the moment and so I do not have a great dea of time to be posting here but I want you to know that today's panic sell off was initiated by a 30mm share short position that was initiated with the specific intent of pushing the stock down to 18 cents.

It obviously ingited a panic sell off from the retail sector, thereby accomplishing its purpose.

In my opinion this represent an unprecedented buying opportunity. There is NOTHING fundamentally wrong with the company of the overall plan of attack. It is merely a swing in a volatile situation.

It is not for me to advise whether to buy or sell but we are using this as an incredible opportunity that we never thought would present itself. We view it as a gift.

You all do what you want but remember that anyone who acts in haste tends to be a loser in the end.

I am here to ell you that there is NOTHING wrong with the company. NO new shares have been issued, none of the inside large shareholders are selling and there is no "investigation" going on.

Please do not buy into the silly rumors that are being bandied about by the shorts. If you want to sell then by all means do so but understand that you are doing so into a panic and are playing right into the hands of the shorts.

Best of luck to all/ WE ARE BUYING.