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u mean not bad DILLUTION at .0002?.eom
Watch out.. this good news will be followed up with some more dillutive financing to get the new mine up and going.. Sure they will say we dont any more cash , we are fine , then blamo , you will see a new dillution to pay for new mine.. same old song and dance from CDE.....
I am surprised share price has held and rebounded up so well , after the filings on the stock sales came out , this stock has a lot more staying power then same may think , IMO it is a good spec buy at these levels for sure.... IMO
That is all well and good , but I was referring to the fact that DICON OWNS the patents (see link below), licensed them to RSI , SPNG does not own the patents..... That was all I was saying , the rest is all good...
1.2 RSI hereby grants and conveys to DICON any right, title and interest it may
have in the said Molded Sponge Design and authorizes Michael Sorrentino to
execute any applications and to assign his entire right, title and interest
in, to and under the said invention, and any such applications that may be
made thereon and any patents which issue from said applications, directly
to DICON.
http://www.techagreements.com/agreement-preview.aspx?num=233564&title=Spongetech%20Delivery%20Systems%20-%20License%20Agreement
IMPO Getting into relationship with Doug Furth and "the group" says different , he has had multiple public companies make allegations of stock manipulation. Why would SPNG get into a financial relationship with "the group" if thety want to be taken seriously as an investment and not an OTCBB gamble?
I agree 100% , DICON is for sure very happy , I just dont like to see blatant mis-information about the technology on the boards , SPNG needs to move past the message board rumor stuff and act like a listed company , act like an investment instead of a gamble on a rumor IMPO
Correct: solicit orders on behalf DICON for DICON PRODUCTS
And truth , this is between DICON and RSI (RME) , SPNG actually is not even mentioned in the license contract, SPNG is just the marketing company , The way this contract reads is DICON / RSI hold all the cards with DICON being the owner , RSI being the exclusive licensee , SPNG is just marketing the product, they dont appear to own or even directly license by contract with DICON... at least by the way this contract reads? But I am not a lawyer , read it for yourself , links are below.
http://www.techagreements.com/agreement-preview.aspx?num=233564&title=Spongetech%20Delivery%20Systems%20-%20License%20Agreement
As of even date herewith, the parties entered into a Supply and Requirements Agreement (REQUIREMENTS AGREEMENT), which is incorporated by reference, for DICON to manufacture, sell and supply to RSI certain molded hydrophilic foam products with superabsorbent polymer and detergents, soaps and waxes defined in said REQUIRMENTS AGREEMENT as RSI SPONGE PRODUCTS and granting to RSI for such products an exclusive field of use for the cleaning and polishing of land, sea and air transportation vehicles.
Further, DICON, with the assistance of Michael Sorrentino, an employee from RSI, designed and developed an improved Molded Sponge Design particularly adapted for the said RSI SPONGE PRODUCTS, on which the parties have agreed to cooperate for the preparation and filing of an Application for a U.S. Design Letters Patent thereon, with the understanding that such improved Molded Sponge Design would be assigned and transferred by the inventors to DICON, and RSI shall have an exclusive right and license to use and sell such improved Molded Sponge Design.
The purpose of this Agreement is to confirm this understanding between the parties and to provide the exclusive right and license to RSI, all terms and conditions as hereinafter set forth.
OldTymer: Did u review this contract that was posted? They way I read it DICON holds all the rights... SPNG has an exclusive but read this contract:
1.2 RSI hereby grants and conveys to DICON any right, title and interest it may
have in the said Molded Sponge Design and authorizes Michael Sorrentino to
execute any applications and to assign his entire right, title and interest
in, to and under the said invention, and any such applications that may be
made thereon and any patents which issue from said applications, directly
to DICON.
http://www.techagreements.com/agreement-preview.aspx?num=233564&title=Spongetech%20Delivery%20Systems%20-%20License%20Agreement
1.2 RSI hereby grants and conveys to DICON any right, title and interest it may
have in the said Molded Sponge Design and authorizes Michael Sorrentino to
execute any applications and to assign his entire right, title and interest
in, to and under the said invention, and any such applications that may be
made thereon and any patents which issue from said applications, directly
to DICON.
http://www.techagreements.com/agreement-preview.aspx?num=233564&title=Spongetech%20Delivery%20Systems%20-%20License%20Agreement
SPNG licenses the technology from Dicon? You mean Dicon can license it to these others? Does SPNG have exclusive rights and contract to re-sell Dicons technology? Please clarify?
Dicon , the company the SPNG has a verbal license with , is also actively promoting there own Sponge products:
http://www.dicontechnologies.com/
What I find interesting is the Dicon website does NOT mention SpongeTech anyplace , they have a partners link and no SPNG? Not sure the extent of the Dicon / SPNG relationship.... But the Dicon (owner of the technology) does not mention SPNG? I read in some older filings SPNG has a "verbal" contract / commitment with Dicon... Seems like a strange partnership.... Maybe when SPNG uplists they will disclose some more information....
DICON TECHNOLOGIES is committed to providng innovative solutions that will make consumers' lives easier.
Utilizing our patented processes, DICON TECHNOLOGIES manufactures products derived from "Hydrophilic Urethane Chemistry." The hydrophilic system has two parts: a hydrophilic pre-polymer phase and a water phase. During the water phase we introduce various water soluble active ingredients into our products.
Current ingredients incorporated into our proprietary process include: health additives, moisturizers, super absorbents, soaps, detergents, antibacterials, carbons, electrostatic dissipative agents, fragrances, and waxes. The list of additives we can incorporate is limitless. Let us help you become the market leader by utilizing our process to make consumers' lives easier.
• Albertsons
• American Drug Stores
• Consolodated Stores
• CVS
• Kmart
• Longs Drug Stores
• Pathmark
• Phamor
• Raley’s Supermarkets
• Sav-Mart
• Star Field
• Ulta’s
• Alcone
• Bath & Body Works
• Columbia Picture
• CNBC Studios
• CNN Networks
• Estee Lauder
• Mary Kay
• Merle Norman
• MGM/Paramount
• MTV Studios
• P&G
• Sephora
• Børn • Softspots
• Boston • Stef Com
• Carolina • Supremes
• Double H • Foot Levelers
• Etonic • Dexter
• Footjoy
• Johnston & Murphy
• Mason Shoes
• Matterhorn
• New Balance
• POS
• Prospector
• Seton Scholl
• Brightwake Medical
• Medtrade
• Zassi Medical
• Acor Orthopedic
• Ames
• Boston Brace
• Canari
• Fiskars
• FUJI
• O-Cedar
• RSI Enterprises
• Walmart
Best of luck , I am looking for more shareholder friendly Silver company,.... CDE has lost me , but I do love the product , metal prices should keep CDE in the game. I still hold my call options , I would love to see a run to $25
Not correct , See Soapy post on this topic of SPNG and Berkshire relationship.
Thats waht I mean , Americans will sue for anything , it is out of control not knocking SPNG or anything , was just asking the question of SPNG having, or not having liability insurance for the products, say a Kid eats sponge , bites piece off , gets sick or chokes on a piece etc... Sticks it in a light socket all wet.... has allergic reactions to the chemcals... are these made in china or the USA? I always thought you had to have some sort of product liability insurance to cover urself from the sue happy folks this day and age... I could not find anything in the last SPNG Q about insurance....
Has SPNG disclosed anything about product liability insurance for the new SpongeBob product? You would think Viacom would require some sort of coverage? I wonder what the cost is for liability insurance for a childs' bath product?
make them small in sealed sterlie packaging?.eom
But u couldnt reuse it? Once u wipe up some blood or something u have to toss it out? correct? Please tell me u use clean wipes for each cleanup?
SPNG SB = SpongeBob - I was referring to SpongeBob product
I agree that if a 1for25 reverse split was all they needed to list on Nasdaq it would be a no brainer , it would be looked at as a positive IMO.
They need $300oz to ramp up full production and be profitable enough not to waste the resource.
SpongeBob is in CVS? I have posted few times that I have seen the car wash sponge in my local CVS but have not seen SpongeBob in CVS>? Please post link or something if you can?
I have NO doubt at all it WILL be in Walmart sooner then later , but I have SERIOUS doubt to the rumors of pallets of spongebobs in walmart ditribution centers sitting waiting and no PR from SPNG. That is my point , never said it was not going to happen , what I am saying is this poster IMO is just playing the pink sheet message board rumor scam... IMO
cde management is NOT looking out for shareholders - they will dillute this down to under $1 within 1-2 years , R/S split again, rinse repeat , The CDE insiders r not holding a lot of CDE stock , they get PAID CASH Salaries , thus IMO they will SELL SELL SELL stock to get paid ... I sold all my CDE common , went into PAAS, SSRI SLW... Now I do STILL own a lot of CDE call options JAN2010 expires, , sold enough to almost cover my outay , still not a prfit , but will hold them in hopes of a spike in PPS so I can dump at profit , But IMO CDE is not looking out for shareholders in any way shape or form.... And it is sad..... SILVER has such a bright future.....
IMO The SPNG SB WalMart "rumor" is a strickly a penny stock ploy , u know like the ones u see circulating around those pink sheet scam like stocks.... Lets hope SPNG can shake free from all this rumor stuff and start to attract and act like a true bluechip type investment/company. IMO
u r kidding right? The market has given SPNG a lofty $100 million market cap and a 12x+ PE , they do deserve such lofty numbers due to the growth , but remember this is an OTCBB stock , selling sponges , lets be real , $1 per share would be a $722million market cap , $1.85 is well over $1BILLION dollar market cap , lets be real , I mean if that is ur opinion u have every right to post it , but IMO $100 million market cap is plenty fair , lets see the next filing and work on the next $100million.... lol
Its back on the shortable list today , inventory says only 150000 shares avail to short thru IB...
Symbol: SPNG
Availability: 150'000
Exchanges: PINK, ARCAEDGE, NITE, IBSX, OTCBB
http://www.interactivebrokers.com/en/trading/ViewShortableStocks.php?key=spng&cntry=usa&tag=United+States&ib_entity=llc&ln=
Did they file an 8K about new TA?
I have not checked today.....
IB no longer has SPNG listed as a shortable stock , looks like it was removed from the list? Might be FTD or REGSHO issues , IMPO SPNG is now shorted to the gills ready to be filleted..... Be careful short term IMO
for sure , this is just One Broker out of many , and these are most likely shares held by IB customers only that can be borrowed for shorting....
Saturday IB was showing 700,000 avail to short.
This is JUST Interactive Brokers availability.
Each broker has its own inventory avail for shorting, I believe... Interactive Brokers however is only broker that shows inventory totals like this , as far as I can tell... I am not an IB customer and I do NOT short stocks so I am not sure how many would be total inventory for all brokers to short...
This was from this past Saturday:(see below)
It has dropped to 200,000 shares as of last night, Meaning someone(s) opened a 500,000 short position in SPNG?
(Saturday 06/13/09)
Symbol: SPNG
Availability: 700'000
Exchanges: PINK, ARCAEDGE, NITE, IBSX, OTCBB
http://www.interactivebrokers.com/en/trading/ViewShortableStocks.php?key=spng&cntry=usa&tag=United+States&ib_entity=llc&ln=
"..incorporate in Delaware and Nevada; they are "corporation friendly""
OTCBB/PINKS incorporated in Delaware and Nevada is red flag IMO , They are NOT investor friendly , now they ARE company insider friendly , that is very true.....
live in the now? Lets see next filings and build from there?
gotcha , so u r basing all of ur calculations on numbers that do NOT exist.. gotcha , Good luck with that , Happy Posting.
Interative Brokers lists 200,000 "legit"(?) SPNG shares open to short.....
It was 700,000 shares over the weekend
Someone(s) took a 500,000 shares short on SPNG - I would never short any stock , and surely not one that can be manipulated up 50%+ in a day or more...
Shortable Stocks
Shortable Stocks for United States
Last updated:Tue, 16.Jun.09 22:32EDT
SPNG USD Spongetech Delivery Systems Inc Check Availability
Symbol: SPNG
Availability: 200'000
Exchanges: PINK, ARCAEDGE, NITE, IBSX, OTCBB
http://www.interactivebrokers.com/en/trading/ViewShortableStocks.php?key=spng&cntry=usa&tag=United+States&ib_entity=llc&ln=
Here is some DD from before I invested in SPNG , I have since flipped 6x made good chunk of change , holding shares now , small amount , have small profit on them , will let them ride...
But - IMPO A/R is another red flag > IMPO SPNG is booking orders and POs as revenue and A/R even before the product is made and shipped...
Per the filing noted below (see link) it appears SPNG is listing $11 million of "purchase" orders as sales and Accounts receiveable.(?) IMO the A/R and sales in this filing is very deceptive > When the product SHIPS and or you collect the monies you list the sale??? IMPO listing "purchase orders" as sales and accounts receiveable before you produce THE ENTIRE order and or ship ALL of the product is deceptive....
IMO it appears they completed the "final test procedures" and got final approval for the 2 new sponges and then listed a years worth of Purchase orders as a sale?
Per the filing:
To date we have received purchase orders of $4.7 million for Puddle Pal’s Children’s Sponge products and $6.4 million for Uncle Norman’s Pet Sponge products.
7. Revenue Recognition
Sales and services are recorded when products are delivered to the customers. Provision for discounts, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. In instances where products are configured to customer requirements, revenue is recorded upon the successful completion of the Company’s final test procedures. For the six months ended November 30, 2008, three customers, SA Trading Company, Dubai Export Import Company and New Century Media, accounted for 82.9 percent of sales.
http://www.sec.gov/Archives/edgar/data/1201251/000114420409002030/v137081_10q.htm
Good info , SPNG A/R is a RED FLAG imo , it appears they are booking orders taken on phone or a PO faxed over , not yet produced or shipped, as receiveable - Very confusing filings...
AND - This still bothers me BIGTIME , You cant really rely on the SPNG filings , you cant calculate the TRUE earnings being some costs are being paid by outside parties , friends family of the CEO and not counted as expenses on the books , so the true profits are unknown? They will need to clean this up to have ANY chance at an uplist to Nasdaq:
Cost of Goods Sold
Cost of goods sold was $6,547,563 or approximately 36 percent of sales, for the six months ended November 30, 2008 as compared to $48,676 or approximately 14 percent of sales, for the six months ended November 30, 2007. While the cost of goods sold increased significantly as a result of our increase in sales. In addition, during the six months ended November 30, 2008, a portion of our cost of goods sold, including costs related to warehousing, packaging, and shipping of products, were borne by (and not charged back to the Company) a privately-held company controlled by our Chief Operating Officer.
THEN AGAIN UNDER SGAE>
Selling, general, and administrative expenses for the six months ended November 30, 2008 were $733,655, an increase from $95,108 for the six months ended November 30, 2007. During the 2007 fiscal year, a portion of our selling, general and administrative expenses, including costs related to product and package design as well as certain consultants, were borne by (and not charged back to the Company) a privately-held company controlled by the family of our Chief Operating Officer. During the current fiscal year, some of these costs are still being borne by (and not charged back to the Company) a privately-held company controlled by our Chief Operating Officer.
PAGE5
http://www.sec.gov/Archives/edgar/data/1201251/000114420409002030/v137081_10q.htm
sorry , Yes correct , i was trying to say the market cap is total share mutiplied by the currenmt PPS , I was trying to make point that the PE has nothing to do with market cap , sorry , just posting to fast and not reading them , if u read futher in my post u can see waht I measn.. sorry , u r corect.
That was the post I replied to? It is not old? not sure what u r trying to say?
What I am saying is > $1 per share for SPNG would give it a $722 million market cap , and lets be real , SPNG is great , it is growing superbly , but a $700++ milion market cap for an OTC with $50million in trailing 12 month sales, not going to happen.... IMPO if they can hit $150milion in revs , $20milion earnings , next 12 months then maybe a $300 million market cap would be fair , using the 722milion OS that is approx $.45 per share , but we have long time to wait for that , 12 months away IMPO. But I do believe SPNG will get there , as long as they dump all these promoters and maipulators they have hired on .. IMO
hmm>? sounds like someone has a new OTCBB play using some gas wells in Ozona TX, on 9000 acres in Crockett county - SOUND FAMILIAR???
Northern Explorations Acquires First Production Gas Well at Ozona Project, West Texas
Northern Explorations Acquires First Production Gas Well at Ozona Project, West Texas
SCOTTSDALE, AZ -- (Marketwire) -- 06/03/09 -- Northern Explorations Ltd. (OTCBB: NXPN) ("Northern," "Norex" or the "Company") is pleased to announce that the Company has acquired its first gas well at the Ozona gas project, Crockett County, Texas as part of its acquisition agreement with Dominus Energy AG.
The gas well is included as part of the package acquired at the Ozona Project by the Company and provides Norex with a current producing asset with daily gas production sales. Northern Explorations d.b.a. Norex Energy is therefore in production at Ozona.
The natural gas well was drilled, cased, completed and stimulated in the Wolfcamp Canyon Sandstone Formation. Upon tie-in to the pipeline infrastructure, the well has been producing gas since May of 2009 at daily rates of 200 MCF per day.
Estimates of gas reserves associated with this well are approximately 0.5 BCF. The gas is sold under a purchase agreement with Eagle Rock Energy and is currently priced at a bid-week production price of $4.04 per MCF.
This initial well is the first of 20 wells that will be drilled and completed on the leased acreage. Further details will be announced to stakeholders regarding the timing of the on-going development plan at the Ozona Project.
Norex President Mark Schaftlein states, "The inclusion of the production well in the purchase package acquired by Norex is a huge boost as it immediately transforms us into a cash flow positive position. We have effectively sidestepped the time line that normally occurs during the development of a first well of a program. Having acquired immediate gas production is a large step forward for the Company."
About the Ozona Gas Project:
The project encompasses approximately 9,000 acres and is a well documented and prolific location enjoying the presence of actively established companies such as Chesapeake, Devon, EOG, XTO, and Quicksilver Exploration. Norex is currently producing gas at Ozona. Norex has acquired a 63% Working Interest in the project located near Ozona in Crockett County, Texas. Under the terms of the underlying agreement with the vendors, Norex will receive a 47.5% Net Revenue Interest in all natural gas production from the project.
ABOUT NOREX ENERGY (NORTHERN EXPLORATIONS LTD.) (OTCBB: NXPN)
Norex Energy (Northern Explorations Ltd.) is an energy exploration Company currently developing natural gas projects across North America. The Company has acquired working interests in natural gas assets located in Texas as well as projects in California and Alberta, Canada. The projects contain documented gas reserves and associated plant, pipeline and infrastructure currently in place.
Notice Regarding Forward-Looking Statements
The Ozona property is a losing proposition.
SEE THE LONG AND GROPWING LIST OF PINKSHEET SCAMS THAT HAVE YOUTED THESE LOSING WELLS
FTXN
VYEY
GFCI
VXRC
among others...
this property has been thru 4-5 pinks in last few years , the gas is minimal at best , it is negative eanrings in todays gas prices... It is totally a pinksheet / OTCBB scam run and directed by Jim Dail IMPO
Be careful...again go do some DD inot VYEY , FTXN , GFCI , VXRC youll see the true deal about these wells in Ozona....