Wrong. What happens when the shorts have to cover? Huh? Whos going to be there to sell? Not I, nor alot of other people on here who own 1m+ shares. Not Doug. So there will be no offers, and the shorts will need to start buying their 500m-1B short position. The shorts covering, even with no other buyers, are going to make this stock scream. We don't need anything else but a short cover to get this thing to $5.

we shall see tomorrow my friend. My old man always told me as a kid, hang with the winners, avoid the losers. So far the longs are the big winners and clearly know whats going on, I can't say the same for the shorts.

Well the shorts are not very smart people, and at the time they knew they were trapped, they continued their naked shorting game when they should have just started to cover and admit their defeat. But like a little kid who runs away from home, he knows when his parents find him hes going to get the belt, so he stays out longer and longer, just making the situation worse. The shorts will get the belt and its going to be worse and worse the longer they wait and continue to issue air shares.

Yes, getting to the Nasdaq will bring in more investors for sure. Good for market cap. More importantly it will blow the shorts out and for the most part, protect its stock price from the awful abuse the shorts have inflicted on it in the OTCBB. This stock is worth $1.30 right now, min, reason its not there? Because the naked shorts have been creating artificial supply of air shares, supply and demand. Look at the failed to delivers. These naked shorts are crooks, they naked short, then with the help of their market maker, hide their position as if they are actually a market maker. They then strategically fail to deliver shares, and thus phantom shares flood the market. I can't wait till the shorts lose everything. Perhaps I wouldn't mind seeing a few market makers go down as well.

Having huge amounts of failed to delivers, being on REG SHO, and seeing the same couple market makers push/manipulate spongetech lower everyday, and your saying thats "a big if" in regards to naked shorts existing? Come on, its clear they are. I can't wait till the shorts lose everything and some. A huge transfer of wealth is going to take place, I suggest anyone wanting in, to get on the long team. GO SPONGETECH

Potential buyers. I suggest you wait until 3pm to buy, we know the shorts are trapped, and they have this one last day to throw everything they have at spongetech to try to shake out any weak hands. However I feel strongly that when the 10k comes out, we will gap open potentially 300% to 500% higher, and you will have missed the boat, or at least a good chuck of it. I still think we will see $5-$20, but getting in now gives you quite a bit more upside. So lets see if shorty takes this stock down more today, but you might be best waiting till the last hour before buying. Your going to want to go home long tonight. Also, it seems someone is defending SPNG market cap from dropping below 100m. Anyone else take notice?

nope, your wrong. Anyway you value the company its way to cheap, its manipulated, clearly. Look at the failed to delivers, look at the REG SHO. Its obvious. The power is going to shift from the shorts to the longs starting tomorrow, and into the RS. Those on the sidelines are going to regret not being in, I’ve been telling everyone I know who didn’t listen to me at .01, to buy know or forever hold their peace.

Can only be 1 of 2 things, SPONGETECH has a massive short problem, or the company is a scam. Can't be both, NO WAY can it be both. Now seeing their sales numbers, growing awareness, previous share retirements, and retaining a big time accounting firm, its clear its not a scam. There is a naked short problem and we should see them badly burned tomorrow after we read the 10k tonight.

Sounds like a plan, I agree with you. Without a doubt, I think this is the last day to get on board, god knows how high this thing could gap tomorrow and I'd hate to chase.

Lives can change tomorrow, exciting isn't it? I'm turning L2 off for today, no point to watch, shorts still control this thing. Can't wait for the 10k and tomorrows open, GLTA LONGS!!!!

z4lover, well it is yesterday for europe, must be european. Interesting is that I heard there is some german banks with big short position in sponge, heard anything like this.

Supermoney' not sure if anyone answered your question, but here is the sponge overseas quotes. http://www.boerse-frankfurt.de/EN/index.aspx?pageID=35&ISIN=US8491091034

'rdailey4' I have this theory that the 10k is going to include something that will force a covering by the RS. Just seems like it being 1 week after 10k, I would think there has to be something they could put in 10k that forces shorts to cover before RS. Naked shorting is illegal, and the MM's are in on it, and since the RS should expose the shorts, I think there could be something in 10k that could send a message to the market makers giving them an option. COver the short position by the RS and avoid being exposed by the RS, or be caught as part of the scam and they will jeopardize their whole business as a market maker.

Well something that could put the nail in the coffin for the shorts, something that maybe induces them to cover before the RS and cusip change. Dividend? Approval for nas? How about that Cinderella story, what if there was such a small outstanding float they made an offer of $1 for the last million shares? Not sure, but the RS in my mind is going to compliment the 10k nicely, otherwise why would they rush to put the RS news out before 10k? There is chatter about the RS being the time when shorts would have to cover for the cuisp change, I would have to think there could be something they could do or include in the 10k to give shorty no other option but cover by RS.

It'll give the shorts 1 week if 10k comes out tomorrow after close, prior to RS on 22nd. Assuming it includes details that will blow them out, which I guess it probably will since it seems we are at the finish line. Think about all we have to look forward to in the next 8 days, 10k and RS. Something has to be up clearly with the RS, clearly MGMT are making the move for something big, RS is to cleverly 1 week after 10k. The shorts will soon loose control. I think they will release after close tomorrow, and it'll give shorts least amount of time to cover, surely leading to panic and huge PPS upside. That will give them 5 days to cover their 500-2B short position. On the conservative side, saying they have 500m shorts, that’s 100M shares that they will buy each day, without being about to put a ceiling on it. Include that with new buyers coming in, and we should see 300M+ volume days very soon. Can’t wait to see the carnage.

great picture

furthermore, if AYME can buy 100m shares over the course of a month and a half, or 1/3 of the available float, and the price goes no where, I am not convinced a new wave of buying could affect PPS. We have seen buying met with an unlimited amount offered for sale by the shorts. We need something to led to an accounting of shares, such as the RS, or a dividend, to blow shorty out. So maybe it could be possible, they can't continue the share buy back program because they purchased all available float. Now its kill time.

Not necessary, no reason the shorts couldn’t continue the game of naked shorting more shares and keeping the price down, as we have continued to see. We need something that causes an accounting of shares, which my understanding will be the cuisp change, associated with the reverse split.

Ha, hopefully because they bought all the float and can't continue the program. Would be nice.

huggarags, great find, can't pm but thanks.

math isn't adding up here, you claim you sold 5m shares? But you claim that your total portfolio was only 80k. Hmmmmm

"I am already out and $8k down, lost and never coming back. That was 10% of my portfolio."

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41406191

You have been saying spng is not moving product for a while, when they are, clearly, look at sales. Now your going to try to tell us that some guy without a last name is telling you this is a pump? Besides, what is a vintage securites veteran? I'll stick to what the company has said and their visions, based on sales growth, prior share retirements, ect. Hard to buy what your trying to say.

Oh please, SM and MM are in the process of blowing the shorts out, everything points to that. And the fact that people can't transfer spongetech position means 1 thing, these brokers know they are on the hook for this massive short position and want no more liability.

wow that is interesting. I absolutely would not sell and wait for funds to clear and then buy back later, to risky that you’ll miss the move. I’d just sit tight, maybe call again and try to inquire more, that’s crazy. I’d try to get in contact with SEC, Something is really fishy about that. I agree with Rdaily. Also, if your not on a margin account, call and ask for your stock certificates.

ha, no big deal, lot of people talking about it so I just thought i'd try to help. Hopefully after the 10k we are debating whether the 5M market order buys we start seeing are in fact fat fingers or just shorty rushing to cover. GLTY

'z4lover' fat finger is not the same thing as a bad print. That trade was a bad print, just like all the other times the market traded a dime off from previous and following trade. If a trade did in fact take place, it will be adjusted, the goofball reporting the trade just forgot to add the penny. No offense, I enjoy reading your comments, I just wanted to help clear up the terminology for everyone. If it was a fat finger. In order for .10’s to trade, the seller would have had to swipe the book, and fill all the other Market Makers from here to .10. So maybe 10m or 20m market order when the guy meant to sell 10k or 20k, would have done this, and thus been a fat finger. That stuff does happen, here is a good one in Japan.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article785261.ece

12-29-08 market was trading .02 and there was a spike to .22. 8-25-09, and 8-5-09 also had similar spikes, it has happened at least 2 dozen times in the last year on the chart, those prints are bogus, those trades have to be adjusted. Can't trade through 20 market makers 50% out of line with the prior and post trade.

Ha, I've actually seen that pattern before but it has been the other way around, and last I remember we broke. But since its upside down I think we should rally. Although that pattern also is the same as a head and shoulders bottom, so call it what you like.

Those have to be bad prints, we have seen them many times before. Someone reported it at the wrong price, either on purpose or on accident. There is no way the market can trade through 20 Market Makers. This stuff even happens on Nymex although it is removed quickly.

Wrong, if you think NITE is selling shares for MGMT you clearly havn't been following the company very long. We have seen MGMT reduce the OS by a good percentage, so to assume they are dumping shares is outrageous. NITE and UBS have been squashing rallies since I started watching L2 6 months ago. They are working for the shorts no doubt. I'll bet NITE sells 3 to 4 times more shares then they buy overall, and if MGMT is reducing shares, its obvious they are working for the naked shorts.

Drew I think I saw ayme on ask a few times a few weeks ago, I think we were all talking about them creating a box. I don't think they sold any though, other MM's jumped in front. But I have seen it. I think if we started to rally, ayme would pull their offer at .2 way before we got even close.

'SJJNAMARTIN', we all know that someone bought and someone sold, but who benefits from not reporting during the day? I would say the shorts, because if we saw a 6m order trade during the day it would be clear some big buyer is here, and that could scare the market up, something the shorts don't want to see. I've been seeing these huge AH prints now for a month, almost every day over 3m trades. I'll bet them are mostly for the same person. This stock is going to be so huge I would think goldman sachs has to be involved at this point, whoknows maybe its them.

Soapy, I wish I had been writing these AH prints down the last month. Its like every day we see massive numbers, I imagine they mean something, wish I had a total.

YA BABY!!!!

Oh man that would be great, I thought someone said SM emailed him around the 28th and said it should be, or was due on the 9th, can't remember who said it. Cause then there was all this chatter it was due on 31st. But yes, tomorrow would be music to my ears.

Personally I think "Please keep our best interest in mind at all times." might be taken as an insult. The company is by law, supposed to act in the interest of shareholders, and while I am a bit confused with why the company has done certain things, I don't have any reasons to doubt they’re acting in our best interest. The rest of the letter sounds great, MGMT will get the point, I just don’t think that one line is needed. In my opinion.

"so smart they have a way out of it", is something i'm starting to think the shorts have been trying to put out. Almost to scare longs into thinking a short squeeze is avoidable. Its not, I'm holding my longs and suggest people with weak stomachs to not watch until we move higher, so far I'm impressed with shorty's antics and his ability to shake out the weak retail guys. If your a small or new investor, your best off not watching the days trade. Be comfortable with your investment and understand the there is a reason 90% of people fail in the market, alot of which is because of the psychology of markets. Don't let shorty scare you, and don’t try to interpret market action, that is for the professions.

'along4dride' I’ve gotten really tired of the idea that the shorts are smart. Anyone who was smart would be long SPNG, not short. Furthermore, What the shorts do, is that they naked short a lot of these OTCBB companies, knowing that most startups fail anyways. They also know that by naked shorting the company, they can walk their stock down a few percent each day, eventually taking it closer to 0, where it’ll be harder for them to raise capital and more likely that they will fail. In which case shorty doesn’t have to cover his shorts. There is nothing impressive or intelligent about that strategy what so ever. The shorts are not intelligent criminals, so please don't get the impression they have a way out of this. I’ve actually been hearing more and more people suggesting that they are so smart they have a way out of this squeeze, there is no way out, we have what they need, don’t let them fool you.

kkgd, so you agree its about the naked shorts printing air shares keeping the price of spongetech down, correct? I agree with you too, its actually crazy how long these people have got away with it. But you and me can probably both agree now, that there is no way out for them. You and I are both going to be laughing and getting rich at the same time when the shorts get exposed and have to cover. Where you selling those longs you picked up down at a nickle? GLTY and all the other longs!!!!

Yeah. Think about it, AYME was a strong buyer up until friday, which was when SPNG's 150m buyback program concluded, sept 5th 2009. I think its safe to assume AYME was buying for spongetech, and they bought 150m for the buyback, and probably the 18m for SM and MM. This 10k is going to be really exciting.