Do you agree SPNG is "STRONG BUY" now? The reasons to STRONG BUY are as below(IMHO):
(1) SPNG announced a corporate product update on March 22, and provided shareholders an overview of the Company's progress on Feb.12 and has very strong business sales at WALMART, which should be a Momentum Player.
(2) SPNG's huge short position will squeeze to rock PPS over $3, while current O/S is about 500M and certain maket makers still have about 920M short position on naked IOU shares(not real shares) for certain faked hedge funds and NSS.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47242406
(3) PPS is so low because of the NSS and faked huge funds posed short postion on SPNG with 0.09/0.03 together with 10k delay,r/s and SEC involved.
The evidence is that, SEC had issued NSS orders against NSS for SPNG since July 24,09, and previous independent research report posted on Yahoo's headline news proving that the short postion on SPNG was on PPS of .09; however, this time the shorts had covered a lot from the days low PPS of between .06 to 0.02,IMO.
(4) The foundament of SPNG is still strong, while 10k delay and the "Well Notice" and SEC will settle with SPNG and let it to file 10K and upgrade to OTCBB soon;
(5) SPNG is now worth at least $1 or $8.15 w/ 1 year as below link based on its $50M revenue and $11M NI together with its strong business growth,(different FA has different views).
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47289232
(6) Comparing PPS at .285 of June 12 to current .03-.05, SPNG now is much stronger than then .285 after it had acquired Dicon on July 9,2009, etc.
(7) O/S was reduced to 500M after RME returned shares per SEC filing.
(8) Pike Capital strongly bought and hold by about 25% together with other funds holding by 78% and more that give much more confidence to other public investors/shareholders.
(9) SPNG's attorney(former SEC officer) has sucessfully resolved many issues related to SEC and has worked hard to settle cases with other parties.
(10) other hightlights I copied here from the website of SPNG for your references.
The link is : http://www.spongete chinc.com/company_profile/ highlights
SpongeTech's® Recent Highlights
The Company's gross revenue* for FY2009 ending May 31, 2009 exceeded $50 million, versus $5.633 million in FY2008, an 888% increase.
In FY2009, SPNG had pre-tax profits of $10 million*, up 834% from $1.2 million for FY2008.
The Company acquired Dicon Technologies in 2009 for $4.5 million in cash, to further vertically integrate its research, development and manufacturing processes. SPNG expects to fully exploit Dicon's massive distribution networks worldwide.
During FY2009 SpongeTech® expanded its presence to over 40,000 retail venues in the U.S. and Canada, up from 1,700 stores 12 months earlier.
...
Go SPNG!! Big Rally Time by either longs or shorts and STRONG BUY!! See you at $1 first and then maybe over $3 soon,IMHO.
(Pls do your DD, be aware of SPNG being in Pink w/Caveat Emptor/Gray market currently; it was delisted from the Pink Sheets and has been served a Wells Notice by the SEC, and some issues and facts are unclear to the public that SEC is working on; however, pls consider % risk and % reward to be fair, don't treat this as investment adviser, and above are just IMHO and maybe wrong or right.)
Enjoy our free speeches to the extent rule of law. The rule of justice, fairness and openness will be the winner!!
Welcome any comment. Thanks a lot for sharing.
May God Bless all and USA!!
_________
(This is a copy from other post.)
News 
Market Data 
Discover 
