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LOL@the youtube clip!!!!
I see you missed my point, not suprised.
Well then how would being bought out make your point? I am confused. You say a buy out means absolutely nothing. (Shares going to .50 or more means nothing I guess)
"Anyone would be a fool to buy out a company with obvious massive fraud and pending class action lawsuits based on that fraud"
Speaking like this will not help team bashers.
There isn't a whole more SKU's if you remove Dicon.
Not one PR said anything new. The last one validated they are only in 45K stores in the US vs. the 100k projected total. If fairness I don't know how many stores they are in worldwide, because nothing they say is ever clear.
50 Sku's? Really? Not sure where all these products are unless they are counting Dicon.
Lets hear the plan, and quit talking about what you are going to do, and just do it.
I am over talking about that. I agree there are some with motives, but this doesn't excuse management from giving us rightful info. Lets quit placing the blame on the "bashers" and instead put it on management. Releasing 2 worthless PR's between non trading days is standard I guess.
6 months ago:
""SpongeTech expects to be in over 100,000 locations nationwide by the end of the year"
http://www.tradingmarkets.com/.site/news/Stock%20News/2516052/
Today:
"The Company estimates that the SpongeTech® products are available in over 45,000 retail locations in North America alone"
http://finance.yahoo.com/news/SpongeTechR-Delivery-Systems-prnews-424878003.html?x=0&.v=1
I am seriously sick of these idiots over promise and under deliver approach. You release a PR on a Saturday nighh, that comes in more than 50% less than expected and act like its good news? Here are some suggestions for these pathetic excuse for management:
1. Tell us the truth. Please. Is that too much to ask?
2. Release your financials. Trust me, nobody is expecting what you said.
3, Quit saying so and so is not telling the truth. (NY Post) Kaja seems to tet us know things before you admit to them.
4. Hire competant management. You obviously don't qualify.
5. For once in your life. under promise and over deliver.
6, I despise the way you run your shop regardless of outcome. You guys let your business partners down and your customers. And you don't care about your shareholders. Hopefully you end up behind bars.
Management has put that Pink Panther "coming February 2010" on OUR website:
http://www.spongetechs.com/v/vspfiles/newPP1.asp
Its April and its still a preorder. They sure are consistent on every aspect of the business. Over promise, under deliver, or just flat out lie at all costs.
Does anyone have a complete list of the current lawsuits?
Somebody proved they had less than 200 orders this year online. Apparently each order goes in chronological order if you make an online purchase. You can test it yourself, put some things in a basket online but don't buy and you'll have an order number. Do the same thing next week and see how much its gone up.
With that being said, lets all be honest about this. How many people are going to buy those new Dicon products online? That target audience is not going to spongetech.com to buy that crap.
"And the 10K will come out after the SEC examination. "
Where do you people come up with this wild hair stuff? A simple google search would have told you that this is not true. I realize everyone scratches their head on why they haven't released a 10k, but they do not have our best interest at heart. These guys lie (fact) to us, their business partners, and customers. Its pathetic. Only reason I am here is they have a good product with blockbuster potential.
They apparently have abandoned their "corporate" website. No updates since December.
http://www.spongetechinc.com/
The Football sponge is gone. Must be the huge demand, and they couldn't keep up.
Now they put some really fancy Dicon products on their "whats new" page. Those cotton sponges look really exciting.
I can't wait till the market opens to buy more now. WOOOOOOOOO HOOOOOOOOOOOOOOOOOOOOOOOOOO>
You have been saying this and other dates for 3 months. Why post this nonsense?
I had mine filled at .035.
Football sponge missing from site again. And I guess they aren't going to update spongetechinc.com anymore. It appears they haven't touched it since December.
"The very fact that you edited the video completely destroys ANY unbiased credibility a source of information could have"
So providing a summary destroys credibility? He didn't twist anything, being someone that has watched at least 3 times I don't how you could possibly say that.
Your post makes no sense.
You say this "I believe they are well above average and have made it far considering the current predicament"
And then say "How blame can be placed anywhere other than management is a mystery to me. Management has placed us in a position in which we must hope and pray that pike supports pps"
Thank you LR. I missed that.
Looks like Moscowitz is having to raise money by selling his Vanity Events holdings.
IMO, this is horrible news. Can we just go a week without bad news? September, Oct, November, Dec, January, Feb, March...... every week.
http://secfilings.com/searchresultswide.aspx?link=2&filingid=7104311
Very nice work. Agreed 100%.
I don't understand what you are arguing. RME supplied cash to Spongetech. At one point they had over a billion shares. Several officers work at both companies.
Ok so they own 66 million per last filing. You are arguing what?
They can be considered a parent company.
I don't care what you think of Spongetech. I don't care about the 24/7 bashing done here. A fact is a fact. Moscowitz lies. That is also a fact.
You are wrong overachiever. A parent company can be a majority shareholder. That is a fact. There is nothing to argue.
Dora was supposed to launch in February.
I guess that is standard for this company. Consistently late on EVERYTHING.
A parent company can simply be a company owning a large stake (shares) of another company. That is filed and is public.
I think Moscowitz is a liar, and constantly over promises and under delivers but there was nothing uncredible by the "parent company" statement.
Your theory makes zero sense to me. If what you were saying is true Pike would have inside info and wouldn't dare buy this many shares with the SEC hanging their hats at Spongetech right now.
Forgive me for the lack of patience with stupid theories, there is too much of that on this board. Someone takes a little piece of info that we have, and construct the most unbelievable situation out of it.
Its like picking up a stone, you close your eyes and imagine a castle with a moat and hot princess looking through the balcony. But then you open your eyes and all you have is a dirty stone. Lets keep it real.
That makes absolutely no sense.
Spongetech is the only one authorized to buy those shares per previous filings. Today's announcement extended the deadline to buy these shares back. Pikes is not an entity within Spongetech, therefore can not touch these shares.
Please stick to facts, we have enough wild stories around here without taking simple things and coming up with some wild guess of how things work.
The only thing they are consistent at is being late. They should have already said this in February.
If they are making all of this money that they claimed, shouldn't this amount be a drop in the bucket?
Well its good to know that Mosco (The Walrus) deals with everything the same way. He treats investors and those he owes bills to with little respect. You make a business deal and you are obligated to pay, you pay. Its pretty simple. You don't wear them out with follow ups.
I am honestly disgusted with this individual and don't think he has the leadership qualities to get Spongetech where it needs to be.
I don't want the Walrus to go, but I do want a dedicated CEO and CFO to run this shop. I want Metter there as well, but its worth 400k to get dedicated leadership to run this company. They have endless possibilities.
Walrus. Please refer to Mosco as a walrus. The Walrus runs about 15 different companies and is unable to focus on Spongetech. You would think someone like this would not have time for game play but takes care of business and does what he says he is going to do. If it weren't for Pike there would have been a tombstone on this message board after October.
We are 6 months past where financials should have been audited and released. They sure had enough time to release PR's every day. As an officer of a "publicly traded" company it is your job to do what is best for the company and shareholders. It is my belief we would all be better of if they hired a polished CEO that commands respect to run this shop. We can then go to the New York zoo and throw fishes to the Walrus.
These guys are an embarrassment to themself and to the brand they tried to create. I am still wearing my dunce cap here, but these guys have gotta go. That little weak PR from 2 weeks ago was a slap in the face to all of us. It was about 6 months late. Oh wait......its almost Springtime, time to start that PR engine again. You can count on the 10k getting released, but it will be when they are ready to start promoting again.
Do you job Walrus and Metter, its pretty straight forward at this point.
Can you provide proof that they didn't get the patents or is this an assumption?
Good News/Bad News
It looks like they an updated sales tab. Unfortunately, all of those announcements from July on, aren't there. Like the new layout, but they never quite give us the warm and fuzzy.
http://www.sponget.com/v/vspfiles/press.asp
Mingy, I would think the opposite is true. Why put out that PR if they are going to release the 10k very shortly? In other words, more action less talk. I am glad they said something though.
Someone bought the host site, bought the rights to the content and has put back online.
Next NY Post article?
Why do you guys call that "Black Friday"? It was red Friday if anything. Black Friday is called black Friday because retailers used this day to go from red to black.
I see everyone calling it "Black Friday". It makes no sense.
Whats secret about it? Did you know? I didn't........
How does Patchman know about Sponge's new secret headquarters?
Where do you suggest they put the sponges? In the Spongetech department?
I don't need to prove anything. I bought a Foreman when they first came out. It had the "As seen on TV" logo on the box.
You can use google to look it up if you need more validation to sleep tonight. I was just sharing a fact.
The George Foreman grill started "As seen on TV" too.
Whats your point?
Uh....not sure what your point was/is. I stated that my post was for easy math.