You trade or post all day? That monitor setup for viewing multiple ihub pages?

lol, I believe you are the first to say that one. You keep insisting this thing is heading to subpenny, yet you have been proven wrong for a month straight. Your recommendation is clear, we should sell the stock. If you sell obviously there is a buyer, and if the whole market is keen to this scam, who would be buying still, and why?

From December 2006 to August 2009 approximately 12.6 billion total aggregate shares of SPNG have traded for a total dollar value of approximately $1.13 billion.

Not sure if they have began to distribute the product under their name yet, I do however, have the product in my possession, shipped to me by greenbridge.

I wonder what ever happened to maxim group?

"Maxim Group is registered as a broker-dealer with the U.S. Securities and Exchange Commission and is a member of the following: Financial Industry Regulatory Authority (FINRA); Municipal Securities Rulemaking Board (MSRB); Securities Insurance Protection Corporation (SIPC); International Securities Exchange (ISE); NASDAQ Stock Market; and NYSE Arca, Inc."

21 Maxim Group LLC 35,405,133 (shares traded don't know what they hold currently!)

"pumping garbage"

http://www.amazon.com/gp/offer-listing/B001O845OE/ref=dp_olp_new?ie=UTF8&condition=new

http://www.kmart.com/shc/s/p_10151_10104_048V001714814000P?keyword=spongetech&sLevel=0


I still have a hard time trying to find out where the revenues are coming from, hopefully our spng "friends" can help shed some light on this problem.

do a little digging, why don't you let us know when spng or furth last paid a promoter?

I do understand management's needs to keep shareholders up to date. In their defense, they were told 4 days prior to 10k being released that they needed a re-audit. Usually a company is given 90 days to complete the work, we have had 60 days now. They told us the problems with the last auditor and hopefully plan to fix the problem. The way the prs setup before the suspension were sounding, spng was going to have the 10k done by oct 16th and appeal to finra to remain listed on the otcbb. SEC stepped in for unknown reasons and things have been hush since! Why all the secrecy? I don't know but spng has and always will be a strong risk/reward opportunity, huge upside limited downside, i've placed my bet.

Could of known all along management isn't in it for the retail shareholder. They have money invested it is all about them, family, and friends. Honestly management probably just wishes we would sell out by now, let whoever cover and continue on.

If so, you think they would learn by now!

oh no you caught me, better call in patch, lol. Delay in 10k, r/s, sec investigation! Only one place the stock could go, lol

don't be so quick to assume ;)

Funny heard the same thing when I bought @ .0145! Man I'm glad I didn't listen to those guys! Funny thing is, some people still hope it will have the same effect!

lol!

good deal, so drakeford didn't ouch 09, cool. I just had a hard time believing the SEC would make R&h do the audits twice. But they need an accurate 08 first to do 2009!? Wasn't all the dispute about q1-q3 of 2009, or just about drakeford?

LOL well you know M&M are letting the stock run a bit so they can still dump! Hope everyone got out on the dead cat bounce! This thing is gonna tank soon! enjoy the sarcasm? lol

"As a result of our former auditor’s difficulties with the PCAOB (Public Company Accounting Oversight Board), our financial statements for the 2008 and 2009 fiscal years are being re-audited, not restated, by our new auditing firm, Robison & Hill & Co."

Then why ask for a re-audit? Why would the SEC have r&h do them twice?

I believe Drakeford already had 09 done when they approached r&h, r&h now has to redo 08 and 09, they got the notice to re-audit, on september 11th, 2009. Nearly 60 days ago. A company usually has 90 days to file the 10k from the end of their fiscal year. Could still be a month out. Don't know though, not much in 2008 and not much in first 3 quarters of 09. The time should be soon regardless.

Doubt they know what is going on. Probably get a memo: SPNG

Sjnjnamartin you misinterpreted my post! I was saying the letter that was given to the sec a couple days ago was of recent events. We have been hearing alot of rme dumping, m&m dumping, and false sales. However, the letter only addresses the GFGU deal. I found it interesting why those other points weren't brought up!? Because they are all BS! The only thing they have left is that small hole in the GFGU, RME and SPNG deal(which is NOTHING!) It is a good sign IMO

You know what I find humorous? All these months of "investigting" and the points disputed to the SEC are about GFGUs deal with SPNG and RME. No mention of false sales? No mention of RME dumping shares? No mention of M&M diluting those billions of shares? The most recent PR regarding GFGU(which is completely insignificant) is the thing brought to the attention of the SEC, that is all!? A last ditch effort imo, the time draws near and the desperation is apparent!

Here is another possibility, some over confident hedge fund saw an otcbb company with huge rev PRs and alot of shares owned by insiders. They no doubt assumed the company was a classic pump and dump. They saw the 10q in april and most likely crapped their pants, huge revenues and share retirements. So in order not to lose their butts off they forged opinion letters to make it look like management was dumping stock held by rme, and to make it appear the revenues were false they get some no name newspaper and "friends" to spread the word and dig around trying to find these customers. They "attempt" to find the customers and pass it off as extensive DD and post their findings to the sec.

I don't blame them though, SEC warns specifically against P&Ds and list all the things I mentioned above, misleading prs, huge insider ownership, also include drakeford losing their license. Sounded great to be short in spng!

Jim Kramer said it best though, NOBODY knows the company better than management, if management is buying back stock, I'd side with management!

golden info,

The statement STI made about revenues to the post, could have lead the public to believe that spongetech reporting the revenues was false or misleading, leading people to believe Spongetech acted in a way that was fraudulent or criminal.

The statements are part of the reason SPNG is suing STI, they need to prove that sti made a false statement, and their proof is? 50mil in revenues/10 mil in profits*! doubt they would go to federal court knowing their books were cooked!

*numbers are subject to audit.....lol bring the 10k!!!

50k @ .047 on Friday, took all but 2 minutes. Had order in at .049 but filled at .047 anyway, not too bad.

good point!

thinking the same!

thinking the same!

yep saw that

"I'm assuming that's how Mr. Pike came by his shares, and that he is gradually dumping them as fast as the market will support."

Current filings show large purchases, to say otherwise, is well simply not true. You can't argue that, unless you know something we don't?

lol nice try! misleading, furthest from. Simply countering a claim that pike was dumping shares currently. Last action we see is a LARGE purchase. The facts are staring you straight in the face.

"I'm assuming that's how Mr. Pike came by his shares, and that he is gradually dumping them as fast as the market will support."

He bought more!

http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6858803-2855-13757&type=sect&TabIndex=2&companyid=383951&ppu=%252fdefault.aspx%253fcik%253d1201251

Shares held by RME are CLEARLY stated in officer's form 3s. Why continue to dispute it?

Why would spng go to all that trouble to issue opinion letters on stock, they have voting rights, why not just issue more shares to Mr. Pike. Why take the illegal route to sell shares, they could do it legally and much much easier! Your theory makes no sense whatsoever, you paint a picture of management being devious just to be devious! There is no need to lift the restriction on the RME shares in order to sell stock! Most of the bashers here would have us believe the o/s is 3bil, why lift the restriction when there are an extra 2.2 bil shares added into the float in the past few months. Pike only owns over 100 mil, there should of been plenty of shares to go around according to your theory. Looks like you guys are starting to chase your tails a little bit!

Answer this! Why would spng go to all this trouble, when all they could do is vote to issue more shares?

I am not sure what you are trying to imply! Just heard Mr. Pike in a conference call to another stock the company holds. Didn't sound like inside info being passed there. You are really reaching here!

LOL! you go first! Come and tell us how fast those shares were snatched from your account!

That can't be, it's an optical illusion or a staged stadium, man these guys really want to get rid of the rest of those shares on the greys.....lol!

You have been preaching on here the fact that q1-q3 2009 buyers are no where to be found! Here is a little bit of info that may help! Contact Sema and see if the buyers are registered, if so start calling! Google searches won't cut it.

Steven Moskowitz commented, "We had such a great response from the AAPEX show last year, which resulted in orders from retailers around the globe(remember the SEC is looking over there shoulders, think they would lie?), that it was imperative for us to participate again this year. These shows are two of the best automotive industry shows and this is a great way to exhibit our Car Wash & Wax sponge to buyers worldwide."

Last year, there were 12,000 international and 40,000 domestic buyers at the show. AAPEX 2009 will take place November 3rd to the 5th, at the Sands Expo Center. For more information on the AAPEX Show, please visit: http://www.aapexshow.com.

Hey Patch quick question. According to the PR about sema there were 52,000 buyers at the car show last year. Before posting that spongetech's buyers were non - existent, why don't you call all those buyers and see which ones bought? Sounds like lazy dd to me, only a few to find why don't you get calling!