This is going to be the short of the century, the short exposure Knight trading has to spongetech is significant. Its clear insiders are dumping their stock in size before news breaks that is going to bring nite to its knees. Ironic huh?

Oh, very very bad news for the shorts. I have been keeping track of all the numbers and entering them in a spread sheet, following very closely the last few months. At this point I imagine shorts know its game over.

Depends who your talking about, Longs or Shorts?

heard anything more about this? That could explain the very low volume, there just arn't shares for sale at these prices. If my broker called me I would tell him $25 i'll let shorty out.

Yes, I'm aware, what I was refering to is how the MM's make their money. Besides, 20M shares is kids play in relation to the money they were making when we were doing 100M+ daily volume on the OTCBB.

I have zero faith in our government taking care of something like that. When spongetech finally achieves its fair value, like I said before, $3+, I and several others have pledged a decent chunk of change that will be used to hire investigators to attempt to prove the relationship between Kaja Whitehouse, and some of these naked short hedge funds. You have to remember, when spongetech does reach its fair value, the shorts will have blown out and lost everything. So at this point the house of cards will have collapsed and I think filling in the connection between Kaja and the Naked shorts should be much easier than it is now. Its going to be a major blow to the NYP too.

I do not know for sure when 10k is coming out, honestly I was expecting it two months ago. But there has been problems filling it which the company has been forthcoming about. Another thing I think that could be holding it back, is the SEC found a massive naked short position, which they are trying to work with, because it surly is so large its going to blow out not only shorty, but also Nite and UBSS. Lets hope these problems are all solved and we see it soon, before NOV 1 would be nice.

Well clearly the broker had called around and tried to fill other buy orders for people with zero luck, thus he passed that on to my friend when he also wanted to buy.

Remember when the New York Post did an article about the guy from Overstock.com that was making a big stink about naked shorting? Well they published a picture with a fly saucer over his head, as if he was crazy too. You know what’s really funny about that, is the New York Post again calling the critics of naked shorting crazy, just as Kaja Whitehouse is publishing 8 stories within 30 days calling a penny stock, Spongetech, a scam. The relationship between the post and the naked shorts ought to be investigated. Everything you need to know proving spongetech has massive naked short position built in it by a few hedge funds is out there. Do the homework, you’ll know what I’m talking about.

Bishop, don’t forget, they also make a living being in cahoots with the naked shorts/hedge funds. The MM’s help facilitate the naked shorting with their market maker exemption, and create phantom shares for the naked shortering hedge funds. The shorts/hedge funds then do business through the MM. Its incredibly illegal but for some reason the SEC looks the other way. I would imagine all those that blow out on this spongetech short squeeze, will catch the attention of the media, SEC, and the press, and hopefully we see some changes.

The broker was saying that there are almost no shares for sale at these levels. My buddy then said fine, and wanted to bid $1, but they wouldn't fill him. Its clear at this point that there is close to nothing for sale at these levels. Which makes sense, ya know? I mean, fair value is above $3, why would anyone even consider letting go of shares down here?

There is more than enough NSS, its pretty clear at this point the weak retail are done puking. Anyday now on 10k, and kabooom, bye bye shorty, nite, ubs, ect.

exactly, they MM's dont have to sell any shares. My buddy tried to bid $1 for shares and they wouldn't give him a fill. Its funny, they just won't fill bids, and only fill sells from retail, thus by not excepting bids, they allow it to sit in a penny range while they try to cover shorts.

Really says something doesn't it when buy orders take hours to get filled, if they get filled at all. However sell orders go right through. Hmmmmm, whats that say about supply and demand? These market makers are calling around begging for shares, however they are not willing to print new air shares, because they are already in so much deep trouble with the massive naked short position. Tick Tock, Tick Tock, when this 10K comes out watch I'll bet it will be even hard to buy shares!!!!! Up Up and Away!!!!

$500 investment will be worth $25,0000, when this stock reaches fair value. Risk $500 to make $25000, you give me any other company that does the type of sales this one does, has a great product with excellent patented technology, and I'd bet those odds anyday. Like I said, based on their sales, this stocks fair value is greater than $3. The only reason we are trading this low is because of the naked shorts who have flooded the market with fake stock, phantom shares, google it.

Think about it, they haven’t even released the kitchen sponge. Do you know how big that product is going to be? A sponge, that doesn't collect bacteria, for the kitchen? Its going to set the standard in kitchen sponges you mark my words.

Once in a lifetime opportunity to get in this stock. After 10k comes out you can kiss those odds goodbye, everyone is going to be racing to buy this stock at the same time the shorts try to cover their massive short position.

I get Goosebumps just thinking about it.

GOOD CALL WADI!

only problem is, he flooded the market with airshares that will need to be covered. Shortys entire strategy depends upon this company going broke. And given they have a great product, which i've heard nothing but good things about, more products coming down the line, I think its pretty fair to assume they are not going to go broke. Spongetech bought a company for $4 Million in cash!!!! you don't get that type of cash unless you have good sales.

Risk reward here is, risk 6 cents, to make 300+ cents. Fair value is $3 guys, and remember the only reason we are trading at these levels is because of the naked shorts. Those naked shorts are going to have to cover, and when they do, people on sidelines, hedge funds, traders, ect, are going to race the shorts for shares. I doubt shorty is going to cover much of his 1B+ short position anywhere below fair value. Its going to be fun to watch.

If your waiting for 10k to come out before you get in, do you really think you'll have a chance to buy anywhere near these levels? Everything is riding on that 10k, this company is either a scam or its going to be huge and there will be a historic short squeeze, I'm putting my money where my mouth is, and I have 100 reasons why I don't think its a scam. Risk reward, I think you want to be in before the 10k. If you put $500 in, the most you could lose is $500, however your upside is $25,000 and possibly alot higher because of the naked short position.

Your call,

When 1 shareholder owns 2.5 times the float, doug, and there are 75,000 share holders, who if each owned 10,000 shares, its clear the float is owned perhaps 10x over, which proves NSS. Next we have the Reg Sho we were on, NSS, YES! Next we have things like a 40% reduction in outstanding shares, yet the stock price actually goes down because the Shorts, with the MM's and broker dealers, flood the market with shares halting a rise in the stock. Next we have Kaja Whitehouse, from the New York Post, who has a relationship with a massive short seller, writing 8 articles bashing spongetech within a span of 30 days. Lets remember, spongetech is a penny stock, I bet Kaja hasn't written 8 articles about any single NYSE traded stock even 3 times in 1 month, hmmmmm. Shorty is deathy afraid right now, I promise you.

The writing is on the walls for those who can step back and see the whole picture.

overachiever at what price must spongetech trade for you to become a believer? If we take out the highs of .285 within the next couple weeks, will you get on the side of the longs? Or are you going to be a bear all the way to the top around fair value, $3?

FACT, THERE IS A MASSIVE NAKED SHORT POSITION IN THIS STOCK. , This is why some on here quote the outstanding shares as 3B. While they may be correct, 3B shares are out there, at least 2.5B are counterfeit shares, dubbed phantom shares. These will have to be covered, because shortys strategy rests upon companies going bankrupt, and company my friends, is not going bankrupt This is what is going to cause the massive shorts squeeze in this stock. Naked shorting is quite a dirty business. These crooks, essentially print phony shares, and flood the market with these. Supply and demand, supply wins, and stocks get walked down to virtually nothing. There are many examples out there, however this will be the 1 in maybe a thousand where the reverse is true. Where the crooks lose, and this company not only prospers, but the shorts have to rush and cover a price that far exceeds fair value, $3+. The shorts will lose billions, and I hope not only shorty loses everything, but the corrupt market makers and broker dealers in on the scam too, go bust. It will be not only great for shareholders, but also great for America. To think how much better the world would be without some of these naked shorts, who make billions driving these stocks to zero, spreading rumors, and essentially ruining companies. 8 New york post articles in 1 month about a penny stock? Doesn’t make sense right? Or does it? Kaja Whitehouse, has a relationship with a big time short seller, funny isn’t it? Hopefully in the future, startup companies will not have to endure the pain that naked shorts have inflicted upon them.

Have you seen the recent fillings? I read through them and they sure look sweet to me. Goodluck with your guess and hope strategy that this thing is going to zero, i've run the numbers and fair value exceeds $3. Got my money where my mouth is. If you think this is a scam, why don't you short the stock? If your not going to buy and think money can be made by shorting, I assume you are? So your risking this thing going to $3, perhaps alot higher with the squeeze, to make .055 cents? Doesn't seem like good risk reward.

got my money where my mouth is and am long and holding for what I said, fair value, $3.4. I take it your short if you think its a scam? Don't you have to post $2 per share for pennys to short?

When the 10k and 10q come out showing things are all great, and perhaps we take out the highs at .285, are you still going to hold onto the "investigation" idea?

Comical. Don’t even need to argue with you because I’ve got my money where my mouth is.

Yeah the writing is clearly on the walls for this stock to move much higher, and soon. I can't say it baffles me why some are so relentless with their position, no matter how good things get. A lot of money is being wagered on spongetech going out of business, and I think its fair to say, since the naked short position is a multiple of outstanding shares, that more money is being bet against spongetech, rather than with it. Billions of dollars will be transferred from the greedy criminals engaged in naked shorting, to those who rightfully deserve it, the people who supported this great company. I’ve probably bought over 30 sponges and given them away, I tell everyone I can about this great product, and now whenever anyone I know sees a spongetech advertisement they know exactly what it is. It will be nice to be rewarded at the expense of the crooks.

Does the SEC ever come out and say "We are no longer investigating?" I doubt it, so maybe this will be like the war on terror and go on forever. Thanks

SPNG $3 Fair VALUE!!!!

janice shell, what would it take for you to have a change of opinion on this stock and get bullish? Honest question.

A 96% 1 day rally 3 days after suspension lifted, with no announcement from SEC of fraud, and your still holding onto this company is a scam idea? I think its about time your reevaluate your position. The cards clearly are showing NSS, and a great undervaluation at these market levels. Perhaps 50X undervalued. If 10k comes out with proof of NSS, will you change on your position?

mlf082488, hear anymore about this? Very interested.

No, thats RME total. Fair Value SPNG $4.8!!!

"Represents shares owned by RM Enterprises International Inc., an affiliate of the Issuer. " Period.
http://secfilings.com/searchresultswide.aspx?link=1&filingid=6850155

Goodpoint!! If we factor in the dollar decline, that $4.80 should be much higher, perhaps $5.50.

The SEC did, they didn't find fraud and that is why they allowed SPONGETECH to REOPEN. NOW WITH RME DOWN TO 66M shares from 456M, its clear MGMT is for real, LOOK AT THAT MASSIVE SHARE RETIREMENT!!!!! and the ONLY FRAUD IS THE MM's AND NAKED SHORT SELLERS WHO HAVE SOLD AIRSHARES WHICH WILL HAVE TO BE COVERED.

READ, RME HAD 456M shares when outstanding shares stood at 722. NOW THEY HAVE 66m!!! What that means is 390M of RME shares were retired. Now factor in the other Buybacks and OS is below 250M. Fair value is $4.8!!!!

Here, proof of RME is right here. Go back to the 10q's of sponge to see RME's old total of 456M shares, and also read about their buybacks. Its awesome how MGMT has done so well dispite all the lies and rumors the shorts have put out about this company. WOW, $4.8 here we come....WAIT THE SQUEEZE TOO $$$$$$$$$$$$

http://secfilings.com/searchresultswide.aspx?link=1&filingid=6850155

$4.8 Fair value for spongetech under new Share structure!!! Current market cap is 30m, using 500m OS, yes,. However after seeing that RME is down to only 66m shares, factor in the buy backs, its clear outstanding shares are less around 250M.

Now this is where it gets exciting

(25M a month in sales x .20 Profit margin X 20PE)divided by 250M outstanding shares

=$4.8 Price Per share. yes FOUR DOLLARS 80 CENTS!!!!!!!!!!!!!!

I wasn't going to say anything, but I've been wondering about this for a while. It makes perfect sense if the shorts are so deep that the brokers are going to have to share the loss with shorty because they didn't collect enough collateral for shortys massive naked short position. I mean, come on, who would except $1 anyway? This thing is worth $4.8 PPS.

ATTENTION! At this point I think its fair to bury the axe when it comes to SPNG being a fraud. RME going from 456M shares to 66m, jives with everything MGMT has been telling us all along. They can't lie about REV, if they are buying back shares. Remember when they retired 525M shares back in APRIL? They continued to say the plan was to retire more of RME shares, as well as do a buyback on open market.

I think anyone on the sidelines at this point should look into this RME issue very closely, because it gives you everything you need to disprove spongetech being a fraud. Oh, given this is trading 50x below its fair market value, its not long before the train leaves.

8 New york post articles in 1 month bashing a company whos market cap is less than $50 makes zero sense, unless of course the writer, kaja whitehouse, has a relationship with some big naked short sellers. AND GUESS WHAT?? SHE DOES.

The picture is clear to those who will open their eyes. There is a massive naked short position, creating counterfeit shares, spreading negative rumors, and trying to destroy this company. Bottom line, the shorts are very soon going to meet their doom. The 66M RME shares today, is very important.

When entire float trades in a single day it shows how big naked shorting is in this thing. This is going to be wild watching the naked short crooks try to cover their 1B+ naked short position when there are less than 300m real shares. OUCH,

I think this is a better, more clear, explanation of restricted stock. But thanks, you cleared it up that restricted stock can't be sold without rgistration with the SEC.

Registration we havn't seen!!!! So its clear it wasn't sold onto market, and rather retired like all the restricted stock RME has retired in the past!!!

$5 fair value, YAY!!!

Investopedia Says:
Insiders are given restricted stock after merger and acquisition activity, underwriting activity, and affiliate ownership in order to prevent premature selling that might adversely affect the company. Restricted stock cannot be sold without registration with the SEC (under the Securities Act of 1933)or some other special exemption.
http://www.answers.com/topic/restricted-security

"represents shares owned by RM enterprises international, an affiliate of the issuer."

its clear the 66m is the total of RME. Man do you have any idea what this means?!? I had RME as having 456M shares as of last filling with OS being 722m. So if RME is down to 66m,

that puts OS at 332. Plus the rest of the 150m buyback(94m), plus the 18M sept 09 buyback,

we are talking about an OS UNDER 300M!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

FAIR VALUE FOR STOCK IS ABOVE $5+++