Just trying to live better than month to month.....
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Hi All.... Just got in.... Had to set up the Billiard League tonight.... Any news? Did I miss anything important??
GO SPNG
Great... no pen.... no mailers....
Guess i'll be the boards charity case lol
GO SPNG
Crashed lol
Spongetech Delays 10-K Filing, Offers Some Details
By Justin Kuepper • on September 2, 2009
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Spongetech Delivery Systems, Inc. (SPNG.OB: 0.207 -2.31%), which manufactures a line of sponge-based cleaning products, announced that it could not file its 10-K filing on time. According to the NT 10-K filing, the work necessary for it to complete the Annual Report on Form 10-K could not be completed due to unforeseen delays in the collection and review of information and documents affecting disclosures.
Reading into Preliminary Results
However, Spongetech indicated that there would be a significant change in results of operations from the corresponding period last fiscal year. Both sales and net income for the year increased, with sales for the year approximately $50 million compared to $5.6 million for the prior year. As a result, net profits increased to approximately $11 million from $1.24 million a year earlier.
With 1,249,451,605 shares outstanding as of its latest 10-Q filing, this equates to a price-earnings ratio of approximately 23x this past year’s earnings. Many experts regard this as a low multiple given Spongetech’s year-over-year growth rates that exceed 700% and could justify a higher multiple. Meanwhile, the company has also taken actions to reduce its number of shares out.
Conclusions
Investors waiting for the 10-K to filed may have to wait a bit longer, like due to a recent accounting change. However, the company’s guidance within the NT 10-K filing indicates a substantial increase in the year’s earnings and implies a reasonable price-earnings multiple that may undervalue the company given its substantial growth.
Yes, Thank You
GO SPNG
Yeah, Yeah.... Just wanted to get some iBox exposure....
GO SPNG
Kewl.... missed that....
Took that more as thoughts suggested.... Has the company indicated anything recently I missed?
GO SPNG
I do believe we saw pics here about a month ago on Dicon factory/warehouse operations..... Anybody remember where they were?
GO SPNG
If a cusip change was even hinted by the company in a PR you would see a buying spree like no other.....
GO SPNG
Those poor, poor ducks....
Can I have mine burnt to a crisp?? lol
GO SPNG
This is why I don't call them myself..... Way too many others call and I'm sure they have better things to do...... I heard a guy made $500 betting that the next call was in regards to SPNG about a week ago... lol
GO SPNG
Goodnight All.... Will be dreaming of Obanana being the next to trip over a Spongetech banner ;)
GO SPNG
WHERE ARE MY MAILERS??????
(probably with the 10K) lol
GO SPNG (i'll buy my own mailers) lol
Cost me $50 to get him to do that.... Offered him $30 but he held out.... ;)
GO SPNG
I accept your invitation to the bar-b-q.... I'll bring the beer ;)
GO SPNG
minus the 41MM held by sig fund....
GO SPNG
5MM at .20????
Maybe that's all AYME needed to wrap it up lol
GO SPNG
Don't talk to my sis like that lol
Looking for the 10K to be very very good....
GO SPNG
Are you guys watching the PPS??
GO SPNG
Just got my mail.... Still no flyer or coupons... :(
GO SPNG
I'll bet you we are over $400MM next year.....
What do you say?? Case of Dom Perignon?? ;)
GO SPNG
"That's not a doji" ;)
Oh, on the chart... lol kewl
GO SPNG
Lets see, $70M x 4 quarters = $280M and there's more to come.... Hmmmmm We are better than $300M company.... The sky's the limt IMO
"hey, I CAN SEE MY HOUSE FROM HERE!"
GO SPNG
Knew the 911 i saw wasn't a mirage ;)
GO SPNG
Ok... I admit when I'm wrong.... I stand corrected....
SHE is working on changing HER nick to fivekids ;)
I believe we'll see something by EOD but what do I know.... ;)
GO SPNG
AYME Another Yahoo Making Enemies
Other MMs are hating that one IMO
GO SPNG
He's working on changing his nick to fivekids ;)
It'll come when it comes.... lol
GO SPNG
34.5 M
GO SPNG
Do it for Allofus ;)
GO SPNG
No you may not.... You may either panic or sell, but you cannot do both ;)
lol
GO SPNG GO
I was thinking of closing my 2 charge accts that chase got replacing my WAMU ones.... I'm so pissed about the whole thing.... Their customer service is rude and down right sucks.... Yes, I WILL be dropping them shortly....
Have a good night all.....
I think they have a DAMN good reason for holding it up.... They are doing so much with the shareholders in mind and think of this, today they PR'd it's WAR with the SHORTS! I have full faith and confidence in the company, product and mgmt....
GO SPNG
100% in agreement....
Nahhhh.... They would rather report on the big "O"s teleprompter escapades...
OR there was something the SEC was questioning.... We do have a massive NSS here to deal with....
GO SPNG
IMO, I think the buyback continues...
The plot thickens!!!
GO SPNG
When looking at the chase ad, ours is 1st on the right side going upcourt....
Shhhhhhhhhh.... No caps.... They'll fine you 2K on your 10K and you'll still feel 0K ;)
GO SPNG