Who needs Naked Short Sellers when we've got the "bidwackers"!!

I'm one of those LONGS who have run out of ammunition. Every day I have to sit back and watch what I thought was a great investment continue to lose value. And, this is at a time when supposedly the float has been all bought up! Not only do us out-of-ammunition LONGS have to battle the Naked Short Sellers and Market Makers (Market Manipulators is more accurate) but we now must fight our own fellow LONGS who cheer and help to push the SP down! On the one hand they complain because their portfolio is down enormously - then turn around and help it to happen by hitting the BID instead of the ASK. From my perspective, all you're doing is helping the SHORTS to cover at lower prices!!

Us poor folk just can't seem to catch a break on this stock.

Well, after listening to a few that doubt the veracity of SpongeTech's claim of an agreement with ACE Hardware for the sale of their sponges, I decided to check for myself.

So I visited the local Salem, Oregon store. To my dismay, there weren't any on the shelves. So I asked the owner if they carried the product. He said his store didn't carry them. But he thought he recalled seeing the products at the ACE Hardware Trade Show he attended recently.

He offered to check the ACE Hardware warehouse and store order site online for me. Low and behold, the product was listed with pricing, etc. He said that it's currently listed as a "future" product that will be available for ordering nationwide by any of the ACE Hardware independently owned stores. He couldn't tell me when though. However, he told me when it's shown as a "future" item it's usually going to be available in the very near future.

He asked me if I'd like his store to carry the product, and of course I said that I did. So, he made a note to order the product. I'd suggest that all of us visit a local ACE Hardware store and request of the owner that he/she order them as soon as possible.

Yes, Zecco still shows SpongeTech at 960.13M OS

In my mind this change tends to give credence to the "certs" issue. It appears they're trying to acquire the certificates for the buy-backs over the past 30-60 days.

Hi Happy,

Apparently they have. I don't check Zecco's figures regularly - since I'm normally on yahoo, I just rely on theirs usually. But, Zecco's numbers have been reduced from what I recall was around 1.1 billion.

Zecco shows 960.13 shares

I apologize for butting into this thread, but I do recall one of the large shareholders on yahoo informing us that the company had originally received BOD approval to increase the AS because the "Plan" they were working on at that time called for issuing a dividend to all shareholders. It was in that way they felt they could flush out the naked short shares.

The poster, quite possibly Micro but not sure, then went on to say that the company had discarded that "Plan" though and was now working on another. And the additional authorized shares they had added for the dividend would be retired.

This was my source for that particular bit of information. And before you say anything, I do realize that information posted on message boards is not official.

Unfortunately, all to many investors have come to rely and them as a reliable information source when coming from the likes of Alfie, Alaninvestor, and Micro.

My order just filled at $.0108. Surprised it filled so quick. Although now I see someone just bought at $.0104. Damn!! Shoulda gone lower I guess.

I just put one in for 110K at 108. Since the ASK is up to 111 now, I'm wondering if it'll get filled.

So TTurner, you don't believe we've hit the bottom yet for Repo Day because we haven't seen the volume needed? So, are you still then looking for the bottom before the 40% pop?

Happy ... yes UBSS is a very, very, very, daunting foe. http://www.ubs.com/

This battle will not be won easily unless management is willing to go "all in". Once the NSS "hooks" are in, it's very difficult to rid yourself of their control - just check out Overstock.com.

UBSS' pockets are exceedingly deep!! They've been at this game (NSS) for a very long time. And they've made obscene amounts of money from it for themselves and thie clients - (IMO of course).

They haven't reached their financial size without a certain relentlessness. SPNG management must treat this as a battle for their life and death. Otherwise, we'll all end up holding virtually worthless stock.

Rest assurred, UBSS and other brokerages and hedge funds who hold HUGE NSS positions in SPNG will not simply eat their losses and run. They'll put out all the tools before taking any astronomical losses.

Just to reiterate ... all this is just my opnion of course.

But I sure hope management sees and reacts SOON to this potential business disaster that's clearly building.

A CEO's primary responsibility is to maintain and/or build shareholder value. I've heard this comittment stated in PR's previously by management. Sir, it's now time to "walk-the-walk"!!

TT, if it keeps trading like this for the rest of the day - 40% won't get us to where we stared the day today at.

Train, you make a good point ONLY if there are sufficient shares available to buy and cover with.

Z ... you do a great job in helping to build shareholder confidence in the face of daily PPS destruction. You simply don't give up in your DD research. In my opinion, the company's results have to ultimately rule out over those intent on making money through the financial destruction of others. Thanks!

Forgive me if someone has already responded to this question. After hours trades were:

462,000 - $.0126 @ 16:06:59
1,556,000 - $.0126 @ 16:07:57

I'll freely admit that I do not know PERSONALLY of its veracity. The comment was made by a large shareholder who is supposedly aware of this. So unconfirmed. However, have you been able to prove yet that it isn't so?? Until then we'll just have to wait for confirmation either way.

You're right Dollar. That's why I didn't even bother responding. These are the kinds of "thinkers" we get amongst the professional bashing community.

Perhaps because the company does not deem it for public consumption as yet. After all, if this is true (which I don't have any reason as yet to believe it isn't) it would have massive repercussions throughout the investment world. It would also serve to discredit the largest clearing house in the U.S..

I give them credit for trying to get this situation remedied in a professional manner.

And you know this ... HOW???? Have you spoken with SM and asked whether or not the company has requested certs from Penson?? Please provide us with confirmation.

And, DON'T try and turn the request around. I'll ask Micro where he got his information. But right now the question is yours to answer. If not then all can assume you deliberately lied.

Right on!!! Why isn't the point that the company is UNABLE to get certifications for their shares from Penson Financial sinking in yet??!! It's because of the HUGE volume of naked short selling!! Is there another explanation?

Give me a break! Why do you think?? Could it be because "bashers" like you could be counted on to contact this NEW customer - disparage SpongeTech, causing concern in the mind of a brand new customer?

Given this message board climate here and on yahoo that I've come to know, I'd be highly perturbed if management were to make this information readily available to the likes of "bashers". Admittedly, it should be easy for you to acquire though.

Can't pm Z - sorry. Thanks for the info, and yes of course I'll share. :)

Wadi, didn't somebody post the contact person at Charles Morgan for the SPNG account? If so, do you happen to have it? I'm going to try and talk to the guy. Thanks.

Well Ms Penny, we'll just have to have our own west cost style Happy Hour.

Should be PST. I can't get out until then! And .... a BIG mug of RAM Big Horn IPA sounds great, after a $.015 close in the GREEN!!

Thanks Stratford. Hey, maybe that number thing wasn't just a coincidence. LOL

Thanks Z4. I hear ya. :)

The so-called "dirty laundry" is not doing our investment any good whatsoever.

Setting new lows daily is not what I would expect from a company whose fundamentals appear so strong and promising. It's very hard to ignore the statements from the likes of Alaninvestor and Micro, both HUGE investors. Afterall, they along with all of us, are likely down considerably. So why force it lower by exposing alleged lies by management in PR's and SEC filings?

If we believe what's being said, and given the source/s and the lack of an effective response from management it's hard not to, all retail investors are left to wonder what to do. From my perspective, the future of our investment is in the hands of NSS activity, and/or the decisions of the major shareholders who would likely be asking themselves whether or not they want to remain in a stock when/if management can't be trusted. Assuming however that they're in the same boat we are, how can they exit without taking huge losses for themselves or their group members? Perhaps their only recourse would be to somehow affect a change in ownership. Particularly if they believe in what the company is capable of accomplishing but disappointed with the way it's been managed.

In my opinion, the company has tremendous potential. But aside from its sales/marketing successes, it's being run extremely poorly! And, as a result our investment is suffering badly! I hope that can be changed before retail investors are driven out. Petty bickering among the major investor groupsm, along with questionable management actions and a resultant loss of shareholder trust will NOT get us where we should be trading at.

Sorry for the length of this post. I just had to vent!!!

Hi Carp ... yes I believe it makes great sense for SpongeTech to be involved with NASCAR. They obviously focus a great of their product energy on car-care products, so it's only natural in my opinion too. And, given NASCAR's popularity I think they stand to gain a great deal in terms of name recognition outside of NY and the New England area. Then start handing out samples to fans at NASCAR races and you end up generating subsequent sales from impressed fans/customers.

Good luck!

Carp, unless a company has actually paid a car owner something for advertising space, the company's sticker does not get on the car. That means, any practice time on the track OR while on the track during the qualifying race on Thursday (televised) the SpongeTech decal will not appear on the car unless the car owner has been paid whatever sponsorship fee was agreed upon. Even while in the garage, there won't be a SpongeTech decal on the car unless the owner has been paid.

In this case, SpongeTech can/will enjoy advertising benefit even if they don't make the field for the Daytona 500. Assuming of course that SpongeTech and TRG Motorsports have reached a sponsorship arrangement for Daytona. Now, since SpongeTech sponsors TRG Motorsport's NASCAR truck series entry, I'd imagine there's probably an agreement in place. And, as mentioned previously, they might have agreed to pay them more if they're able to qualify the car for the Daytona 500.

Hey Happy, you could not have explained it better. Although I'm sure there are many conspiracy nuts (bashers) who will still want to believe otherwise. The thruth is hard for them to accept. :)

Where do you guys race? I sell high performance lubricants and had quite a racing customer base when the Portland Speedway was still open. One was Greg Biffle.

Anyway, thanks for your input and good luck to you.

Qualifying for the Daytona 500 is very unique to this particular race - which many of you who have read the posts on this subject today have probably gathered. Most all of the other NASCAR races are primarily based on speed/time.

In an effort to help clear it up for any of you who are interested, I've found a link that might help. I hope so anyway. Also, the two qualifying races on Thursday will be televised on the SPEED channel. The first race begins at 2:00 PM EST. The second race, which Mike Wallace will be in, is scheduled to immediately follow the first.

Here's the link for you.
http://msn.foxsports.com/nascar/story/9193252

It's not a 3-card monte with the company. As I've patiently tried to explain to you, this happens quite often when teams are trying to get one or more of their cars qualified for big races such as the Daytona 500.

Now, I might ask you ..... why do you insist on believing the worst in everything you read or are told??? I've found that for many who always choose to believe the worst rather than the best it's typically because they behave in that manner. Can you be trusted Tat? Why do you insist on looking for "3-card montes" under every rock you come across???

IF, you simply can't bring yourself to acknowledge the obvious, THEN WATCH THE RACE AND SEE THE DECAL ON THE CAR WITH YOUR OWN EYES. Then sir, I would expect you'd be man enough to apologize to this board and to the company for inferring to anyone who would listen to you that the company was being deceitful and fraudulent in announcing their sponsorship of this car for this race.

Thought some of you might be interested in reading this. Before the "wackos" go crazy though, please bare-in-mind this was written BEFORE the advertising deal with SpongeTech was consumated. So, you won't see the SpongeTech decal on the car in this picture. :)

http://www.trgmotorsports.com/news/show.php?id=386

LMFAO!!!!!!!!!!!!!!!!!!!!!!!

Excellent Wadi!

What's your point?? The fact remains: SpongeTech is one of the sponsors on the TRG Motorsports entry driven by Mike Wallace. The car number of the enry is #171. I don't know whether or not NASCAR will allow them to change the number to 71 for the Daytona 500 if they qualify based on thursday's finish. Bottom line ... whether the car makes the field for the Daytona 500 WILL BE DETERMINED ON THURSDAY!!

Case closed!

Dude! Can you read??? I was very clear in my post about the fact that it's #171 and not #71. I even offered a presumed explanation for the number difference. It happens ALL the time. It's not a fraud or a conspiracy to lead you astray dude. And, the link I provided you VERY clearly shows Mike Wallace, and the TRG Motorsports car #171 as in the second qualifying race this Thursday and starting in the 22nd position. You need to get a grip!!

Well, for the most part you are right WP. That's why if a sponsor is considering getting involved in NASCAR choosing the right team and driver is absolutely critical. For every race cars must qualify before they're guaranteed a place in the race. Note: some cars a guaranteed to make all races based on previous years points earned and/or by virtue of being a previous champion.

However, for many of these races throughout the year qualifing is televised. Also, there are huge numbers of fans that also attend to watch qualifying. So advertising exposure can be significant even when or if they don't make the race.

In my opinion, Mike Wallace is one of the top 20 drivers in NASCAR. Our odds of making the race when we have to qualify are improved greatly when he's our driver. TRG Motorsports is competitive at the NASCAR truck series level, but I can't speak to the quality of their equipment (cars) for the Sprint series. That's evidenced by the car's times during qualifying last Sunday. I did see someone post that the car's practice tines since then have been good. That's encouraging! Unfortunately I haven't been following team's practices, so I don't know for sure.

I do like his chances though - so let's keep our fingers crossed! I think Richard Childress Racing is providing engines for them and perhaps even the car so maybe they can get the set-up right and become very competitive.

What is your problem dude??!! At this point in time there are only 2 cars that are in the Daytona 500. I never said anything different. There are many cars that have tried to make this race, but weren't able to because their qualifying times were not fast enough last Sunday. For the others who's times were fast enough, they get to race this Thursday. If they finish high enough they'll be in the Daytona 500. It's as simply as that. Why are you insisting that the Daytona 500 field has already been determined when it hasn't?

And now, after having been proven wrong, you're trying to say because the field hasn't been determined yet, that he's not in the race. Well that is not true - yet anyway. We won't know until after Thursday's two qualifying races.

Get the chip off your shoulder!!! The world isn't coming to an end. I was merely trying to provide some clarity on this subject for you and anybody else that was interested.

Sorry ... I forgot to post the link. :)

http://www.nascar.com/races/cup/2009/102/data/lineup.html