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NASDAQ updates info faster than MSN or any of the other data websites. MSN will reflect the change in a week or two.
Yes, RM Enterprises gone, UBSS gone (simultaneously).
RME no longer listed as an Institutional Holder of SPNGE stock. Did they finish selling all their stock when UBSS discontinued being a market maker?
http://www.nasdaq.com/asp/holdings.asp?symbol=SPNGE&selected=SPNGE
Metter already rolled on Moskowitz:
SEC filings name Metter and his chief operating officer, Steven Moskowitz, as "control persons" and directors of RM Enterprises. But Metter denied to The Post that he is an RM Enterprises officer, saying it was Moskowitz's relationship.
http://www.nypost.com/p/news/business/not_spongeworthy_ZZZ1QlWllnBaSYuVjqYysK
Just wait until it's Alfie's turn to start rapping on the microphone.
The company was subpeonaed.
Depository Trust Corporation which is the clearing house for all stocks.
The 8K stated "securities violations" in Spongetech.
Just wait until the NY Post breaks this story on the investigation on Monday.
SEC is just getting started here on Spongetech, we shall see how this drama unfolds. Do you think the stock price will rally or tank Monday on this news?
Oh what a tangled web Metter and Moskowitz have weaved.
Alfie a cooperating Goverment witness? They already have him slapped with tax evasion.
Did they have TV commericials, banners at major sporting events, radio ads, $50M in sales (allegedly) like Spongetech does?
No wonder Metter fingered Moskowitz as the guy running RME!
Let the snitching contest begin!
No wonder GFGU said adios. They must have gotten wind of the investigation.
SEC investigation 8K after the close didn't do you longs any favors to bail out before the end of today's trading. They knew full well of the invetigation last Friday on the 18th but waited to spring it on you after the close today. I guess they were trying to dump all the shares they could dump leaving longs to hold the bag.
Bail with whatever you can get if trading isn't halted on Monday.
The SEC appears to be dragging their feet so I think the US Attorney will bring fraud charges on Spongetech before the SEC wakes up out of their coma.
SPNGE customer offices do not exist
SpongeTech client records spring leakBy KAJA WHITEHOUSE
Last Updated: 1:53 AM, September 25, 2009
Posted: 1:53 AM, September 25, 2009
Someone appears to be pulling the strings on the biggest clients of New York sponge maker and US Open sponsor SpongeTech.<p>
</p><br>In its third-quarter SEC filing, SpongeTech said that six customers "accounted for 99.4 percent of sales" -- nearly $31 million in revenue -- for the first nine months of its fiscal year.<p>
</p><br>The firms are SA Trading Company, US Asia Trading, Dubai Export Import Company, Fesco Sales Corp., New Century Media and Walgreens.<p>
</p><br>All but one of those companies, Walgreens, is hard to track.<p>
</p><br>Their addresses cannot be verified, phone numbers were disabled within hours of calls from The Post, and the Web sites for three of the companies were created on the same day two weeks ago.<p>
</p><br>On Wednesday, at The Post's request, SpongeTech provided addresses, phone numbers and contacts for its largest customers through its outside investor relations firm, Lippert Heilshorn & Associates.<p>
</p><br>But efforts by The Post to verify the information fell flat.<p>
</p><br>Take, for example, Dubai Export Import Co. According to the document SpongeTech provided, it is located at 235 Peachtree St. NE, Suite 400, in Atlanta.<p>
</p><br>"They don't have an office here," said Julie Gudger, vice president of sales for Crown Office Suites, which leases offices in that building, including Suite 400. Gudger also had never heard of Ahmed Elsayed, the contact SpongeTech provided.<p>
</p><br>Gudger dismissed the notion they might have a virtual office. "I would know," she said.<p>
</p><br>A call yesterday to the Dubai Export Import number that Spongetech provided led to a receptionist who took a message for Elsayed. Within a few hours, the number was "disabled."<p>
</p><br>The Dubai Chamber of Commerce and Industry says it has no record of Dubai Export Import Co. Ditto for the Dubai Department of Economic Development, which issues licenses to companies doing business in Dubai.<p>
</p><br>Calls to the phone numbers SpongeTech provided for the other four companies also led to receptionists who took messages. They were all disabled shortly afterwards.<p>
</p><br>Misty Ryals, a receptionist for Select Office Suites, which rents out offices on the 5th floor of 116 W. 23rd St. in Manhattan, where SpongeTech says Fesco is located, said she has no record of Fesco Corp., nor of Jim Rogers, the contact SpongeTech provided.<p>
</p><br>SpongeTech said SA Trading is located at 111 NE 1st St., 3rd floor, Miami. A woman who works for Downtown Miami Partnership, which manages the property, said, "We have no other business on the 3rd floor but Excellent Executive Offices."<p>
</p><br>Carlson Ortiz, who answered the phone at Excellent Executive Offices, said, "I've been here for two years and I've never heard of that name," when asked about SA Trading.<p>
</p><br>Web sites for Fesco, Dubai Export Import and SA Trading also shed little light. All three sites were created on Sept. 10, 2009, using Domains by Proxy, a service that blocks information about the site's owner.<p>
</p><br>
Someone appears to be pulling the strings on the biggest clients of New York sponge maker and US Open sponsor SpongeTech.
In its third-quarter SEC filing, SpongeTech said that six customers "accounted for 99.4 percent of sales" -- nearly $31 million in revenue -- for the first nine months of its fiscal year.
The firms are SA Trading Company, US Asia Trading, Dubai Export Import Company, Fesco Sales Corp., New Century Media and Walgreens.
All but one of those companies, Walgreens, is hard to track.
Their addresses cannot be verified, phone numbers were disabled within hours of calls from The Post, and the Web sites for three of the companies were created on the same day two weeks ago.
On Wednesday, at The Post's request, SpongeTech provided addresses, phone numbers and contacts for its largest customers through its outside investor relations firm, Lippert Heilshorn & Associates.
But efforts by The Post to verify the information fell flat.
Take, for example, Dubai Export Import Co. According to the document SpongeTech provided, it is located at 235 Peachtree St. NE, Suite 400, in Atlanta.
"They don't have an office here," said Julie Gudger, vice president of sales for Crown Office Suites, which leases offices in that building, including Suite 400. Gudger also had never heard of Ahmed Elsayed, the contact SpongeTech provided.
Gudger dismissed the notion they might have a virtual office. "I would know," she said.
A call yesterday to the Dubai Export Import number that Spongetech provided led to a receptionist who took a message for Elsayed. Within a few hours, the number was "disabled."
The Dubai Chamber of Commerce and Industry says it has no record of Dubai Export Import Co. Ditto for the Dubai Department of Economic Development, which issues licenses to companies doing business in Dubai.
Calls to the phone numbers SpongeTech provided for the other four companies also led to receptionists who took messages. They were all disabled shortly afterwards.
Misty Ryals, a receptionist for Select Office Suites, which rents out offices on the 5th floor of 116 W. 23rd St. in Manhattan, where SpongeTech says Fesco is located, said she has no record of Fesco Corp., nor of Jim Rogers, the contact SpongeTech provided.
SpongeTech said SA Trading is located at 111 NE 1st St., 3rd floor, Miami. A woman who works for Downtown Miami Partnership, which manages the property, said, "We have no other business on the 3rd floor but Excellent Executive Offices."
Carlson Ortiz, who answered the phone at Excellent Executive Offices, said, "I've been here for two years and I've never heard of that name," when asked about SA Trading.
Web sites for Fesco, Dubai Export Import and SA Trading also shed little light. All three sites were created on Sept. 10, 2009, using Domains by Proxy, a service that blocks information about the site's owner.
http://www.nypost.com/p/news/business/spongetech_client_records_spring_dw5hyBpvNxFyvS96Xmi5bN
Moskowitz has been sued by major credit card companies for non payment. How many rich people get sued because they can't afford to pay their credit card bill?
Want the proof? This is my last post of the day, I'll get it to you after 12:00 midnight if you like.
Moskowitz isn't wealthy, if he was it wouldn't take rummaging through 10 years worth of archives and filings to prove it.
I saw a Federal IRS tax lien placed on his home at one point in time. I looked him up and could not find any reference to him being wealthy. Perhaps you could share with us the information you found saying Moskowitz is wealthy.
RM Enterprises is a I-bank? Does it say they are in SPNGE's filings?
The last Quarterly filing shows SPNGE had only $35K in cash. Where does it say Moskowitz is loaded with money?
If not cash, then what?
"An aggregate of $1,750,000 had been advanced to GetFugu"
Any ideas as to how SPNGE found out about GFGU with hardly no trading volume and no reportable revenues?
Why would SPNGE front $1.75M to GFGU "since they do not even have a working product yet."?
GFGU has no revenue and a net loss of $13.3M for the 6 months ended June 30, 2009.
How do they expect to get financing on $1.75M with no revenues and that large amount of net loss?
"GetFugu has advised the Company that it currently does not have the funds to repay the $1,750,000 and that it is seeking alternative financing sources to fund a reimbursement."
http://finance.yahoo.com/news/SpongeTechreg-Delivery-bw-3710267507.html?x=0&.v=1
http://www.sec.gov/Archives/edgar/data/1398667/000114420409044758/v158638_10q.htm
edit- GFGU recinds the transaction but doesn't have the money to return to SPNGE, then SPNGE says GFGU is "seeking financing" to repay the money. Sounds a little 'pre conjured up' to me.
What's next? GFGU will get the financing then declare bankruptcy after they recieve the check?
SPNGE and GFGU conspired together to rob shareholders at the tune of $1.75M? Try to look at it from all angles.
Call in the above the ask goons to get the PPS back up.
Is NSS still the culprit here?
Well, as long as you are happy, that's all that matters.
SPNGE trading 8's, any longs disappointed?
Just because they are inc'd in DE does not mean they are immune from NY sales tax jurisdiction.
You have written your maximum number of posts for today and won't be able to write any more until after midnight tonight (Eastern).
Talked to Sharon at the NY State Department of Taxation and she said Spongetech Delivery Systems IS NOT IN THEIR DATABASE nor do they have any record of a valid tax certificate for them.
Talked to Danny the store manager and he said the Spongetech products are no longer in the spot they were previously at (some other product by some other company is in that spot). There are currently no Spongetech products whatsoever in that store.
What area? Let's give them a call.
Delaware has them.
Is Sponge Tech Europe information in the ibox?
"We will also continue to extend our distribution reach by adding new distributors, including SpongeTech Europe, which we formed in August 2009 to enhance our already-strong presence in that market."
You got your letter at 8:04 this morning. They are the identical same PR.
Moskowitz can't keep track of PR's now? Same PR with 2 different titles. LOL! Yup, these guys are really professional.
America's No.1 cleaning company! Blah! Blah! Blah!