Does no one believe that SPNG is buying back shares? That should answer your question. Metter has said they bought over 10million, hence what the tradable float was around 100 million. Company has to buy at the bid.... we've seen a lot of buying at the bid, aka BMAS... I'm not suggesting they are buying for the company, I am merely stating they could be and are around that 50 million share count....

It really doesn't matter, if you believe the company, you buy up shares at this price, if you don't... I am not even sure why you would post...LOL... looking out for others... I guess that is the american way...LOL... ask yourself the last time, some cared about whether you made or lost any money.... excluding your WIFE, she doesn't count...HAHAHAHAHHAHAHAHA

Company just needs to go in and secure the float and put an end to this..... My opinion... GAME OVER!

They have record strong sales and why would M. Metter risk going to jail over lying about tradable float? Why up buyback to 50 million shares? If Metter gets caught in a lie, it's over for spongetech in my opinion... He doesn't need to publicly state trading float is 100million, no need to state that what so ever.... and yet he has several times? I have spoke with mangement, and heard the same thing... I don't see where lies at this point helps the company, but believe what you want... there is certainly risk? in my opinion, very limited based on projected sales and current PPS...

There are loop holes and manipulation knows no limits... I can't prove it. but if you believe management, which I do, I believe NSS'ing is occuring... Mangement has no reason to lie when they have record sales coming and an improving balance sheet, but it all still is a mystery. Not too mention, they are personally funding their growth, they have more to lose than gain by lying at this point, but that's just my take... only time will tell...

http://biz.yahoo.com/prnews/081110/clm068b.html?.v=1

Turner, I think you read my mind...LOL

Are you claiming SEC cares? Or that Wallstreet is honest? :)

Ask Overstock CEO if SEC cares, or is he thinks Wallstreet is honest. Its too bad his company doesn't make any money, he led the fight for exposure, but no one really cares... that's my honest opinion.

Now, people beat the drum, NSS'ing, but its like crying "wolf", no one will believe you... just my opinion.


My point is this, the company PR's they believe their stock is being NSS'ing. No one believes them. CEO states tradable float is around 100 million shares.... No one believes him...

Now, is the CEO and company is lying? Or there is a NSS'ing problem.

Now, I ask all the haters this.... Why would the CEO risk being caught in a lie?

Seriously, why risk the companies future with a lie about the shares? Even diluting wouldn't hurt the company that is growing at this rate, but lying would be "death"... and he could go to jail...

I am betting on management is telling the truth, but you have to make that decision for yourself. Risk vs Reward...

Lying right now, would make no sense!!!!!!!!!! Company just locked in the biggest deal of its history.... Viacom/Nick could potentially drop them if they found out management was shady and lying to share holders.... Just my opinion...

Phrantic, I can't, and that's what is ticking me off right now. It makes no sense unless they believe they are creating a short trap... It is truly a mystery to me... that's why I said if they PR the breakdown of the shares, it will restore investor confidence, shed light on the NSS'ing and potentially cause a squeeze if one really could happen. Right now, we are at the mercy of the company and that is what scares me...

You can't argue that the future doesn't look bright for this company. The products on the market are selling, proof alone would be the 3 million in internet orders after the Howard Stern advertising and I honestly believe the car sponges will be one of their weak selling products of what they will be offering... Kids sponges will be the biggest in my opinion. With that said, the Nick/Viacom will be huge. The dog sponges should do very well... Don't get me wrong on the car sponges, I just think the rebuy on kids sponges will be alot higher based on how often kids need to be cleaned, same thing with pet sponge, and the house cleaning sponge. So when you look at the power of the products, auto sponge could be the weakest seller and its already proven to be a great seller in a small amount of time.

So the future looks very bright in my opinion... We just need to figure out what is going on with the buyback and the share count...

Crash, what is proof? If proof is M. Metter stating on the radio that the tradable float is near 100 milllion, then, yes I would say there is proof. The company also PR'd that they believe their stock is being manipulated by NSS'ing.

If Metter is telling the truth and the company is telling the truth, then yes, there is your proof.

Like I said earlier, there are many ways the company could prove this, like PR'ing the break down of the oustanding shares, buyback update, restricted shares and so forth, until they do that... The company is basically hurting their shareholders...

Now, if they haven't provided this update because they are trapping the shorts via some "plan"... then so be it, I will be the first to say "thanks Spongtech" nice job, I'm rich...

If not, well.... I will have less money than I have today..LOL

Who do you choose to believe determines your level of investment and your level of proof of NSS'ing...

Agreed?

Wad, I agree, 25k per investor is B.S. I also agree with some of your ideas. My personal claim is that the company is trying to get the shorts soooo deep, they can create a massive squeeze that will help them uplist while also providing themselves with the proper fianacing to never need a line of credit... Of course, this is just so I can sleep well at night:), but it makes sense to me... especailly if the company is telling the truth about the 100 million tradable float... if you have 3 times the float fake shares... that equals, Click, Click, BOOM!~

I love the 1 share at the end.... :)

Good morning!!!!

PremierStocks, honestly, I don't know. I have heard of several things that could happen, but I don't even want to go there. So, I guess we will wait and see what happens.. if and I repeat "if", NSS's are 200 to 300 million deep, something big will certainly happen, and it will be bigger than the VW squeeze in my opinion...LOL...

How do you cover? that's the big explosive question:)...

I hope the company is telling the truth, I hope they have a plan, and I really hope the NSS's are 300 million deep... ha ha...

VivatJesus, you're right...I'm watching the colts and not paying attention...LOL, so the numbers are even crazier:)

Float 100million.

Ihub- 45 million

Alfie and group- 150 million

Company buyback- 50 million.

2000 investors- average 100k. - 200 million..

445 million minus 100 float.... 345 million fake shares.

LOL...if that is the case.... look out:)...things will get interesting very soon:)

FYI, I have no proof the numbers above are real...just speculation...

based on my research, the NSS'ing, if float is 100million, the NSS could be near 150-250 million fake shares...LOL.. I know it sounds crazy... but here's an easy break down...

Float 100million.

Ihub- 45 million

Alfie and group- 150 million

Company buyback- 50 million.

2000 investors- average 100k. - 20 million..

265 million minus 100 float.... 165 million fake shares.

Now, believe what you want... I don't care... just putting it out there...

only time will tell if the trading float is 100 million and if the NSS's are really that deep....

wpo...LOL...I sure hope you are right... It looks good, just a couple things have me slightly cautious, but not enough to tame my buying of this stock...LOL... hey... if I can't afford to lose it, I shouldn't invest it.... would I be upset if I lost my money, of course...who wouldn't...LOL.. but even if they goes up to 10 cents...I am going to be very happy... though I am hoping everyone is right and we see 40 cents or higher..:) good luck...

WPO, I am assuming you have been following SPNG and this board for a while.... Have you recognized most of the posters who are giving share counts? I'd also be interested in the number of posters that equal the current tally of shares...

People might laugh at these numbers, but I honestly wouldn't be surprised if they were somewhat accurate. If you believe management, they have been crying Nss'ing for a while now... even via a press release...

they raised buyback to 50 million for a reason... either to fool investors while they dilute(I don't believe this) or they are trying to force the NSS's out of the stock.

On yahoo, Alfie/Doug and his group claim to have somewhere between 100 million and 150 million shares...


I do question that a group of investors hold 150 million of a tradable float of roughly 100 million, plus roughly 2300 other investors... Heck this board if correct holds another 40 million..

Lets say the company bought back 50 million. Metter said on the radio a while back they had been buying.


On a side not...I read on yahoo.. that someone thinks HotOtc might start coverage on SPNG based on an email they received stating they have had just returned from SEMA and they think they have found a company for an easy double.

They of course are speculating that they are talking about SPNG tech..

if that is the case, monday could be interesting, i guess the Hototc email comes out sometime tonight, i don't subscribe but I will keep my eye on the yahoo post to see if they update it and confirm it is SPNG...

even if the numbers are off....how far off, and I would venture 100k average seems a little low... but that's fine, better to estimate a low number.

Then you have this board that has nearly 50 million... and I don't know how many people have chimed in, but averaging the boards number would be higher than 100k each..

Plus, we have seen BMAS pick up over 48 million shares...

Something is up... we will have to wait and see... FYI...

I have said before and I will say again... I will not be getting my certificates... I don't believe for a second that is the answer, but that is my opinion and personal, if management did ask shareholders to ask for their cert's, that pisses me off, because, it's not our responsibility to get this stock from illegal manipulation, its the SEC and managements job to protect investors and their company, and their stock...

Carp, I understand building a big company, and to me, they have already proved that they are going to be a big company based on sales this year with the products they are currently selling. Considering, Spongetech is not a household name, nor have they announced any big USA retailer deals. I too, believe the announcements are coming about US retailers, I also believe that guidance could be increased to 75 to 100 million for 09... Call me crazy...LOL... but I think it is feasable depending what announcements are made and how quickly orders are shipped.

Alot of stocks have forward earnings baked into the cake, some trade at high P/E's based on the possibility of good sales.

When you look at SPNG.... nothing is baked into the price other than NSS'ing... LOL.... ha.ha.. honestly, that's about the only way you can explain the low price.

Who knows... Like I said, this will be interesting to watch it play out...I realize nothing happens overnight and I am fine waiting, I just hope the end result is that the company is being honest, and the NSS's pay big time for picking on the wrong company.

Creative tricks can keep from reg sho list fyi. I am not saying that "is" or "isn't" happening. Once again, as I posted before, management could clarify quickly via a press release the share counts, and that would open eyes on whether Naked shorting is occuring, dilution, etc. If they are telling the truth and have bought back shares, we would clearly see there is a naked shorting issue.

Keep in mind we believe BMAS has purchased over 48 million shares, so between BMAS and this board, we have the float if Metter has been telling the truth on the radio interviews.
Now, Alfie, aka Doug, has claimed he and his group of investors own over 100 million shares. So now we can see that 200 million shares are accounted for and we still need to count up about 2000 more investors...

I mean, how many people on IHUB have contributed share count numbers? 100, 200, 300? There are appx 2300 investors in this stock.

Now I have heard numbers of 200,000,000-300,000,000 fake shares. Pretty crazy... as we chime in with our numbers, these numbers seem feasable...

Now, once again, if Alfie/Doug and his group actively speak with management, I email Steve from time to time. One of my close friends talks to management quite often.

Management knows what's going on, if they don't, WE ARE ALL IN BIG TROUBLE!!!!!!!!!!!!!!!!!!

If at this point we need to inform them where roughly 50 million shares are being held, we might as well give up and sell our shares...LOL..

Either management is allowing the PPS to stay this low because they or a group of investors are still buying shares and are trying to get the NSS's to dig deeper...

Worse case is price is this low because management is not being honest about tradable float, this would be devasting for the company and the shareholders, although I don't believe this, management is giving basher plenty of ammo by not PR'ing the sturcture on the current outstanding shares.

So, it goes back to the old, is management really working on a TOP SECRET plan to kill the shorts? I sure hope so.. I am betting a lot of money they have a plan.

Best case situation, tradable share count is 100,000,000 shares. Management has bought back 50,000,000 shares already.
A group of investors are also buying up as many shares as they can and is reporting share counts back to management.
Insiders are buying up personal shares from the float.

Management PR's share counts, basically stating they have locked up the entire float and CUSIP change...LOL

If the above happens, LOOK OUT:)

Regardless, I am betting on something good happening. I just wish management would clarify what's going on with buyback and outstanding shares, but I am sure they will when they are ready, I just feel that is key to the PPS. Hang in there longs...

His 1st post said around 1pm Est time on Friday. This PR never came out. So he looks like a pumper.... I didn't follow that post much after 1pm after it didn't happen:) LOL.. so I would be curious if he revised that the news should come out early next week.

in regards to the float... Yes I have heard Alfie and his group had around 150 million shares. Now, if BMAS was accumulating for SPNG, key work "IF", I do not know, that would put us up to 200 million shares.

Factor in roughly 2,000 other investors... and well, if the aveage postion on those 2,000 investors is 100,000 shares... well you can do the math on how many shares are being held..

at some point... we will find out what the truth is, until then, we either choose to hold, sell, or accumulate more:) LOL

Someone on yahoo said yesterday news would come out that would straight line us to .15 to .20 cents;).... it never happened... I sometimes get nervous when people claim they are on the inside.

1st off, if I was on the inside, I certainly wouldn't tell anyone.

2nd off, if I was on the inside and the information someone was posting on a chat board was accurate, I would figure out who all knew the information and kick that person to the outside.

3rd off, if I was on the inside and saw someone posted accurate information about a news release, I would suspend the release... the last thing you need is people claiming to know information before it hits....aka insider trading...

Rook, you are correct, market conditions do have an affect on the PPS. Investor confidence though plays a strong role. Supply and demand in simplified terms. Regardless, I just get worried when I hear that getting certificates is the answer. I do believe in management and I have heard from Steve M., they are working behind the scenes. So, if the TOP SECRET plan works, I will be the 1st to give them their props:)... If I didn't believe in them, the product and the direction of the company, I wouldn't invest the money I have invested. I like many, get frustrated when you see what appears to be a winner, not winning:)...

I do think Spng will be a winner... honestly, that's all that matters to me, so I will hold strong, not flip and wait and see what happens. The writing on the wall tells me Spng is going to mature into a 100 million plus per year rev' very soon.... if that doesn't eventually equal higher than .02 cents, I will give up on investing forever:) hahahaha...

I think we have a winner here folks:) good luck..

actually, crashing probably gets you the most bang for your buck... a truck rolling around in 20th place gets little air time... a wreck gets replayed to the hilt!!! not too mention, all the fans will have their eyes on the truck to see damage and if the driver was ok... seriously, he made it about half way through the race and then got some extra air time..... I didn't watch the race, but normally a driver get interviewed after crashing... then the driver gets to PR..

Example: I'm really disappointed for our sponsors Spongetech, this Spongetech Chevy' was really running good, I think we had a chance for a top 10... The Spongetech Chvy was a little loose going into turn 2 but we had worked it out and was starting to move up... I would like to thank Spongtech, Chevy, my crew, my grandma, this was the 1st race she was at, and I really wanted to have a good performance in this Spongetech Chevy...


LOL.... I love NASCAR and the way they interview:)

No I don't have 6 million shares... I have 2 close friends and amongst the 3 of us, we have that many shares... I will disclose I have well over 1.5 million shares personally, but and I am very fortunate to have a cost average near .025.

Do I have concerns, of course... this is a lot of money for me to have in a penny stock. Would I feel comfortable if the stock was trading in the 4's, of course.

How could one not be concerned when the best news to date has been announced and the stock price continued to go down from that date until yesterday and yesterday, it closed even..LOL..

My posts on this subject is that we as shareholders need to realize management is in contol of the PPS, not the shareholders, it is not our job to get the PPS up, and certainly, getting cert's will not help the PPS in my opinion.

I do believe in this company, that is why I have invested so much money, and so do my close friends. In fact, I have a couple others that are going to be investing in SPNG next week, nothing major, but they are getting their feet wet.

The current PR's being released have not helped the price of the stock... FACT!!!!!!!!!!!

So, if I was management and I cared about the current PPS, I would change what I was doing.

If they have some TOP SECRET master plan, then great, it will eventually happen and hopefully the PPS shoots up...

I am not hating on management, trust me!!!! What I am trying to state is, as the company appears to be getting stonger, as more deals are being announced, as more advertising is being done, this should make this company appear to be legitmate and the "penny stock scam" stigma should be disappearing...

Now, I believe management could be taking steps to helping the PPS, if they are behind the scenes, then great, I will wait for them...

I will not accept that a game plan of getting your cert's will help the PPS, I am sorry, I cannot go there, and cannot accept that... Especially when management put in a PR that the shares are being illegally manipulated through NSS'ing.

There are pleny of shares available to legally short, in fact when you look at the legal shorting of the stock, it is very small number.... getting your cert's will only stop the legal shorting of this stock...

That's all I am saying....

I've got too much invested in this stock LOL>. but not 460,000 LOL... I think if I had $460,000. I'd be doing something else right now..LOL...

I was just trying to say, collectively, but once again, I don't know how many people have responded, that isn't a crazy number... now if the stock was trading at 1.00, and we needed to account for $23,000,000 on IHUB posters, yes I would think some people were fibbing...LOL

Once again, we need to keep in mind, PPS reflects either illegal price manipulation... or dilution?

The shareholders cannot, and I repeat cannot cure either of the two above, this is managements job!!!!!!!!!!!!

They need to PR about the buyback and the exact breakdown of the outstanding shares... Put it in writing for the shareholders and investment community to see.

If they have bought back 50 million shares... I sent management an email telling them to raise the buyback to the tradable float...

Now, very simple PR. this is how it would go...

Spongetech is pleased to annouce we have currently finish the buyback of 50 million shares from the tradeable float. Current tradeable float is 48 mllion shares. We have decided at this time to up the buyback to 98 millions We will currently be buying the remainder of the float as cash from operations becomes available. We believe there is a NSS'ing problem in our stock and will address this problem once all the tradable float is secured.


Now, that would solve the NSS'ing problem.... EOM!

Heck, Spongetech wouldn't have to buy another share, the fear of what would happen once they finished the buyback would send this NSS'ing into a covering frenzy...

But it would be in the best interest of the company to get the share price up.... A PR like this would get the PPS and company in a better position for growth... and greatly improve investor confidence....

Now, my biggest question is, why isn't the company doing any of this?

Any thoughts?

no I do not... I have not been following how many people have responded and how long you have been tallying share counts amongst Ihub memebers.... but if 100 investors controlled that amount, that is only 4600 per investor, and yes there are people that throw 4600 around like its nothing.

it doesn't matter, he's made up his mind he's not going to believe the number anyways...

like I said, even if everyone was telling the truth, what would that prove? That we have more than the tradeable float? So what, we don't even know what the tradeable float is right now.

When management wants to get the share price up, they either buyback the restricted RME shares, stop giving themselves loans, get a line of credit, or go to the SEC and get a CUSIP change..

People, please... getting your cert's or talking about how many shares will do nothing!!!!!!!!! other than give you a fuzzy feeling that we all have a bunch of shares...

it might scare me that the tradable float is higher than we think it is...

I am long..but it is not the shareholders responsibility to get the PPS up.... it's the companies...

We've seen BMAS only buying and have purchased over 48 million shares.... so there is half of the float, unless you want to believe they sent them to another MM to sell them, LOL, but anything is possible... One would have to try and cost average their shares to see if they would have even made any money doing that.

So if you believe they are buying for a big investor or part of the company buyback.. half of the shares are off the market.

$460,000, really not that much money.... I don't care if people are telling the truth or not, it doesn't matter, just like asking for your cert's.... just longer to sell your shares if bad press is released... but do what you want... but please tell me how pulling your cert's help against NSS'ing?

between 2 of my friends and myself, i can account for over 6million shares.

I have a slight problem when I hear the "old" request certificates and everything will be alright, to me that is a red flag. I long, but if managements solution is telling its' investors to request certificates, we are in BIG trouble in my opinion.

If there is a illegal NSS'ing problem, asking for your certificates will not help...LOL.. If they aren't trading real shares, just because we take cert's off the market, that's going to help????

That's the best they can come up with?

My biggest problem with management, is they will not PR the breakdown of the outstanding shares or give feedback on the buyback.

That would help investor confidence more than anything else right now.

Yes, PR fluff is great, and yes I agree alot of good things are coming to this company and I think 40 mil guidance will be raised... but if Nick/Viacom deal doesn't help the PPS, the company might want to rethink what will.

and why isn't management doing anything about it?

they claim they have some plan, if that's the case, we can wait for them to deliver the plan, but if the plan involves the sharesholders getting their cert's...

We are in big trouble.... I know personally that they have been asked to PR about oustanding shares, but they won't do it... Metter just comes on radio and says around 100 million tradable...

any thoughts?

Turner, only time will tell, I have plenty of time... I have enough spng shares right now, but if it gets much lower, I must buy more... LOL... I have a spng fever.... only cure is more shares at .020 even...

Some will disagree with me but in my opinion, I think BMAS is the 50million share buy back for Spongetech. Regardless it is accumulation... But I honestly have a feeling, they are buying back for the company. There are basically at 50million shares. Hmmmmmmmmm.

Carp I hope you are right, and if you are.... We are going to make a lot of money on this investment...

I still think the power of Kids Cleaning will be HUGE... the suntan lotion will also be OFF the HOOK...

I was telling my sister about it, and she wasn't sold on sponges until I mentioned suntan lotion, and her eyes lit up and said, "now your talking".... apparently Moms would love to wipe on Sunscreen instead of spraying or putting a big glob in their hand trying to wipe it all over a youngster...


Things look good!

Kids sponges will be the biggest sellers... its one thing to take care of your car.... but I have yet to meet a kid that doesn't get every desired toy they want, on top of that, parents will love they can give their kid a sponge and he will enjoy cleaning himself.... it will be their biggest product seller in my opinion...

That yahoo board is crazy, I enjoy reading these posts, so I joined..

In my opinion, BMAS is buying back for the company, they will keep the price above .018. I am hopeful they announce something regarding having the 50million bought back and some of the RME restricted sharse bought back to. we'll see..

No prob...Just sent him him a text... I'm sure he has a camera or atleast can use his camera phone..

I have a friend that is attending and is going to see our friends at Spongetech and let me know how things look.

The SEMA trade show starts today. FYI...