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lol wrong I did very well last year on SPNG and now have a lot of free shares.
Nope I still have my shares. When something to talk about I will.
Look at filings he added and still holds the shares.
Again assumptions that are not supported by anything in wells. Like they said civil. If they found criminal they have said recommending that criminal be brought by DOJ but did not say that. I won't be replying so have fun. SOme people still seem to live here who hold no shares lol.
No where in wells notice does it mention anything criminal, no fraud nothing. It mentions civil only. So once again make up what you want I see that each time people say anything criminal happen even when wells says civil issues only.
Great thanks. Good place to be with the new kids sponges.
Martha did not do time for any violation? She did time lying about it to grand jury. Now how is her co doing these days as well? Even though she went to jail she still runs it and doing just fine.
Wait and see SPNG will be fine. Being able to make millions in profits now for 2.5 years is why. People can attack SPNG with opinions 24/7. Won't stop the big co future.
Form 8-K for SPONGETECH DELIVERY SYSTEMS INC
31-Dec-2009
Other Events
Item 8.01. Other Events
On December 24, 2009, the Staff of the U.S. Securities and Exchange Commission (the "Commission") sent a written Wells notice, which was received on December 28, 2009, to each of SpongeTech Delivery Systems, Inc. ("SpongeTech"), Michael L. Metter, SpongeTech's Chief Executive Officer, and Steven Y. Moskowitz, SpongeTech's Chief Financial and Chief Operating Officer. The Wells notices advised that the Commission Staff intends to recommend that the Commission bring civil injunctive actions against them alleging violations of the federal securities laws contained in Sections 5(a), 5(c) and 17(a) of the Securities Act of 1933, as amended ("Securities Act") and Sections 10(b), 13(b)(5) of the Exchange Act of 1934, as amended ("Exchange Act") and Exchange Act Rules 10b-5, 13b2-1, and 13b2-2 thereunder; and Sections 13(a), 13(b)(2)(A), and 13(b)(2)(B) of the Exchange Act and Exchange Act Rules 12b-20, 13a-1, 13a-11, 13a-13, and 13a-14 thereunder. The recommended actions would seek, among other things, permanent injunctions and civil penalties.
Under the Wells process established by the Commission, SpongeTech, Mr. Metter and Mr. Moskowitz have been offered the opportunity to submit a written or videotaped submission to the Staff setting forth any reasons of law, policy or fact why they believe that the civil injunctive action should not be brought or bringing forth any facts to the Commission's attention in connection with its consideration of these matters (a "Wells Submission") before the Staff makes its formal recommendation to the Commission regarding what action, if any, should be brought against them. SpongeTech, Mr. Metter and Mr. Moskowitz are consulting with their counsel with respect to these matters. There can be no assurance that the Commission will decide not to bring actions against them, nor can SpongeTech predict the outcome of any such action(s), if brought.
SpongeTech does not anticipate any material interruption in its business operations by virtue of the Wells notices or any action(s) that may be brought by the Commission. SpongeTech will continue to conduct its operations in the normal course of business, including receiving orders, shipping its goods and servicing its customers and suppliers.
What I find funny is all the naysayers telling us they will be revoked, they will arrest m & M, blah blah etc day after day.
Yet no where does wells notice say anything about crimminal or fraud actions does it?
Civil is all it says and that has nothing to do with any crimminal actions. Make up what you want I see that everyday.
When this is all said and done SPNG will just keep growing and longs who accumulated will do very well. Its called building big results we will all see soon enough.
If you doubt okay. Pike, Walmart, Marvel deal etc all shows a co growing and Pike likes the future.
New products Dora, Pink Panther, Boat products etc all coming out shows again a company growing.
Use some common sense SPNG has big future.
SPNG owns Dicon so some can twist that all they want. We own 100% of dicon and that means 100% of anything they sell to. All the same co. Amazing the July 09 filing for the acquisition is very clear we own 100%. Let them keep trying we are in Walmart period. Something many of the naysayer said never happen.
SPNG owns Dicon I guess you missed the 8k filed on that acquisition last July.
What a surprise. I hope all stay safe tonight on the east coast with the bad weather.
Come on they filed this 8k on dicon. Are you trying to just post wrong info on purpose? From July 15 09 8k ab out acquiring Dicon 100% of Dicon.
Item 2.01
Completion or Acquisition or Disposition of Assets
On July 9, 2009 (the “Closing Date”), we consummated the acquisition (the “Acquisition”) of Dicon Technologies, LLC (“Dicon”), pursuant to that certain Membership Interest Purchase Agreement (the “Agreement”) dated as of July 9, 2009, which we entered into with Dicon and the equity owners of Dicon as sellers (the “Dicon Equityholders”). Pursuant to the Agreement, we acquired 100% of the membership interests in Dicon, for a purchase price of $2,350,000. In addition, we paid off Dicon’s loan with Wachovia Bank, of approximately $2.2 million , and agreed to provide Dicon with (i) up to an additional $250,000 for Dicon’s purchase of manufacturing equipment for a second production line dedicated to the manufacturing of our products, as well as (ii) an inter-company credit line of $270,000 for Dicon’s general working capital needs. The only liabilities assumed pursuant to the Agreement are those that are incurred by Dicon in the ordinary course of business.
As a result of the closing of the Acquisition, Dicon became our wholly owned subsidiary.
The Agreement contains standard representations and warranties, and indemnification provisions, for a transaction of this type. In addition, the Dicon Equityholders (other than Wayne Celia, who is subject to the provisions of his Employment Agreement discussed below) agreed to certain confidentiality and non-disclosure provisions, as well as customary non-competition and non-interference for a period of five years from the Closing Date.
In connection with the Acquisition, Dicon entered into employment agreements with certain key employees, and we entered into an employment agreement with Wayne Celia (the “Employment Agreement”), pursuant to which Mr. Celia will serve as President and CEO of Dicon for a term commencing on July 1, 2009 and ending on December 31, 2011. Mr. Celia will report to our CEO, Michael Metter, and our CFO and COO, Steven Moskowitz. Pursuant to the Employment Agreement, Mr. Celia will be paid an annual salary of $265,000 for 2009, $274,275 for 2010 and $283,875 for 2011. In addition, he is entitled to certain incentive compensation payments that are linked to Dicon’s achievement of certain projections relating to base year sales and base year earnings before interest, depreciation and amortization.
Hasher just stop. You have no way of knowing that and you are wrong. Viacom licensed products are sold by many in Walmart's. SPNG is shipping to Walmart. I forget who last year posted it but it was from Viacom. At least if going to post things you do not know about as fact say IMO. Just amazing you act like that is the case when its not. Okay last post of the day. IMO it is a hob for hasher to be here but some if the attacks about Walmart rank with the most stupid.
Clearly hasher you don't know how it works with as seen on tv.
Good find clearly we see the two authors know each other. Now we know what same people writing about SPNG.
Mingy the only myth is trying to tell us its a myth. When fact is SPNG has been one of the highest dollar volume penny stocks since 2008. That telling us no big nss or a myth means crooks pass on the money that volume made them. lol
Here is something that is not a myth and will be true 100% of the time. If crooks can make millions stealing or counterfeiting anything they will. So they can tell us its a myth that we have big nss here. I go with human nature crooks like to steal the millions SPNG volume offered nss.
Lets do some history. First products where to be sold in Ace. Car wash etc. Then it took awhile as people said it was a lie not in stores. Then it showed up in stores first not on Ace web site first.
CVS same thing took a while then showed up in stores. Not on line first.
So now we see showing up in Walmart and not on line yet.
See the trend seems they show up in stores first and online later. At least it has been that way with three big retailers like Ace, CVS and Walmart.
Well now who said we never be in Walmart lol
That is correct. When spongetech shows in upper right banner corner.
Click on spongetech banner when it shows. Takes you to spongetech product site
http://www.miamidolphins.com/
Well said. What they fail to get when attacking SPNG is they are growing results. That is why more products and stores being added as planned. This co is going to be sold and for what its worth based on big results. Not what some penny market says.
Just matter of time. I felt 3 years from when they started funding this plan. Well 2010 is 3 years.
Good review of the spongebob product
http://www.11alive.com/news/local/try_it/story.aspx?storyid=140129&catid=292
OH I see. So you think one the of highest dollar volume stocks since summer 08 has no big nss. That they just say no lol. The dollar volume SPNG has seen since 08 makes it one of the best targets to sell air shares any penny offered. But you keep thinking the crooks just said no to it lol.
Golf I agree and have said that is where big money will come for years. I realized that back in 08 when the sponge is really = to a plastic bottle. Big co's can add entire new product lines just using the sponge in place of the bottle used now. No new products to be created just put same cleaners in the sponge. Now you have same product sold different way.
No matter what is said here the co has big future and will have many more products for years. That is what an alternative to plastic bottles to sell cleaners offers.
Well I live in So cal and it is.
A nice review on Uncle Norman pet sponge
http://content. usatoday. com/communities/ pawprintpost/ post/2010/ 01/video- dog-sponge- to-make-bath- time-easier/ 1
No read it again stop payment.
Pike is buying for Pike. Look at name on 13's filed. Pike owns the shares. The buying for china co is amusing but filing show Pike. Based on filings not opinions Pike has bought and accumulated a lot of shares since Sep 09. Pike understands this is a very undervalued co. Few penny stocks ever make a profit to even be able to say that.
if he didn't know more then you he not have accumulated 160 million shares. Clearly PIKe knows a lot more.
Please at least use IMO. That is all your post is. O/A has been reduced as they said per filings this year to 722 million. Form 3's filed show rme share reduced to 66 million after that number was filed for total o/s. Of which the co stated in a pr I believe 400 million was rme shares. People can keep guessing we will know for sure soon enough. With rme reduction per filing IMO o/s is in 300 range. That at least fits with what they said since 08 rme share be reduced by Feb 2010 and so would o/s. Even when a/s was increased 3 times from Jan 09 to April 09 10q showed o/s reduced as they said would be to 722 million. So saying its billions is silly. Means nothing. I go buy plans they stated many times to reduce o/s and fact sites still show 722 million. IMO it much lower but that opinion is same as any here. Just an opinion no facts. Okay now people can reply but I won't be. I don't pay to post here anymore. Why? Well one big reason is a god example today. Same people who say don't own shares and market closed. Same ones attacking SPNG 24/7 for months. Have fun talking to each other.
Again called stop payment lol. The reason to stop payment is a dispute. As you grow and become build profits you will end up in disputes. Part of doing business disagreements. You don't need to agree.
Just think about this. No matter what you think of Pike. They have invested a lot since all the Sec issues came up. Why?
He clearly is not doing it blind. He has to see SPNG goes on and grows or he not be buying when on greys and issues with Sec.
To be investing for last few months clearly he knows what is going on and thinks outcome will make then a lot of money. They did not just wake up and say oh lets throw millions away.
They did their dd and must feel pretty confident with what they found to buy when on greys millions they have invested.
If this was dead co and stock no way they just put millions in when they did.
Lawsuits happen in business especially when growing. If money owed for royalties for example that means co made sales to owe it. Big small many co's get sued over contract disputes. Most settle the case. What I find so bias by NY post is this. When something like suit filed against SPNG they jump on it. When we file suit for broken agreements or disputes nothing. Why hasn't NY post written about settling the Spongebles case. The one where the CEO said NY post got it wrong? Yet nothing from post. How about the GFGU nothing from NY post.
As with any contract or legal disputes you can give in and pay. You can disagree and try to settle it. If you can't then suits get filed and courts will settle it.
There is 2 sides to any dispute that is why they are in dispute they don't agree with each others positions.
It be nice if NY post at least tried to not look so bias. They don't seem to understand maybe SPNG has valid disputes?
So far SPNG won a settlement where they where plaintiff and got Spongeable Ceo to admit he was wrong. IMO why would be admit that he was wrong about SPNG doing 50 million for fiscal 09 unless he was shown the 10K?
I don't think he say he was wrong about SPNG results and settle case if he was not shown the financials to prove it.
Hum all the doom day predictions but once again Pike not selling just buying.
Ah so NY post lied Mets did not sue SPNG. I see.
Has anyone here posted a fling showing Mets filed a suit against SPNG? I like to see the actual suit link. It should be public filing is suit filed.If not then seems NY posted lied? If there is a public filing of a lawsuit seems some here have posted is a lot today.
Well at least you now state they are exist and are powerful. I agree they are and why SPNG even while doing very well has been attacked by them. We will see though who wins. They won't beat a co that keeps growing results. New products coming out just adding more sales and profits. Tell your powerful friends when SPNg is bought out they will pay. I agree rare they do since rare small co's become big co's and sold for much higher prices then we have seen so far per share. Tell the boss worry.
Here is one for pet product review. I am sure since some jump all over any negative reviews they want to make sure to talk about positive to. lol.
That was done by the morning news on fox in Philadelphia. I think her name was Michelle Buckman. Yes she liked the car wash sponge. She is still on that station doing product reviews. SPNG for her was just another segment. Amazing how people try to distort things 24/7. Sorry I am a long here since early 08 and have seen it all.
People see a bad review and jump all over it. They did same thing when a bad review with car wash sponge.
Yet folks it keeps on selling.
being a long term investor all that review is is one. I remember last year when one tv station in Texas did the same thing. They did not like the car wash sponge. Yet others did like fox philly when she washed 8 cars and gave it a thumbs up. The best measure of is protect good and selling is sales. To see it rated high on amazon and Kmart now for months as number 1 is best review IMO. It not just selling but continues to.
There is no such thing as any product that get 100% of all people to like it and buy it. SPNG is doing fine with plenty buying and liking it. That is why stays number 1 on a website like Amazon or Kmart.
Oh for those who say I can find many more okay. You made my point we will have good and bad ones. The point is product is selling great for months. That is why moving on with 2 new sponges for kids.
Oh all the same things where tried by some with car wash sponge. Trying to tell us how it did do what it said. It never sell big etc. Wrong.
I guess some forget how when deal was first announced they say it was lie or we never see a pink panther sponge. Or my favs when we announced products be sold in CVS stores some said it was a lie etc. Once we are relisted and that is coming I wonder what new never will be in posts after that lol. Like I have said since 08. This is about building a big co and $'s per share. Not pennies. Being long on this stock is easy when you get to accumulate so cheap and undervalued.
I see. First time Pike filed 13 months ago it was how they where flippers and sold after they filed. Then we see 2 more filings showing not only had they not sold but accumulated more. Some will try anything to make it seem like is doing anything but making a long term investment. Okay I will do same thing. Pike is investing in a growing co, did the dd before investing including seeing results and talking with auditors etc. Then liked how undervalued buying at these prices are. Whatever their dd showed for SPNG they sure have invested millions in big future. I will go with their judgment over people on message bds lol.