Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yea, and the earth may blow up in a couple hours too. That's a much bigger problem. IT COULD!! Maybe, maybe, maybe. Give me a break.
I'm hoping they want to put out something prior to the K. ??
Be careful dont to get hurt when you drop. GL.
OldTymer, part of the market making section of your post is confusing to me, not the part about covering in a MOASS, just every day "making a market."
You stated that if there were no shares available to buy, that the MMs would be forced to create bogus shares in order to create a market. (I'm several hundred posts behind, so maybe this will be addressed somewhere between where I am now and the posts for Sunday morning.)
My understanding of the way the market is supposed to operate, is that it is based on supply and demand. If the demand is high, then the price goes up. If these MMs wanted to operate legitimately all along - in ANY stock - then why would they not keep increasing the bid until someone was willing to sell?
denise
You've been keeping up with AYME's buying? What's the total?
IMO we are going to find out in the subsequent events section of the 10K that all RME shares are gone. Retired, paid for. whatever, they will have vanished.
We know the company has bought back at least 150m shares by Sept. 5, because of the PR, and if the massive buying in huge blocks through AYME (wish I'd kept a tally) is all the company, then the float is gone or nearly gone.
Spongeboy, the last official share structure numbers were updated 6/17/09. The entire update follows, but the numbers given were:
Shares Outstanding: 722.866 Million 460 Million (R144)
so RME =460m
float = 262m
Company: SpongeTech® Delivery Systems Inc (OTCBB: SPNG)
Ticker Symbol: SPNG
Location: 43 West 33rd Street Suite 600, New York, NY 10001
Website: http://www.spongetech.com/
Industry Sector: Cleaning Products / Consumer Goods
Focus: SpongeTech® Delivery Systems Inc, Inc. is focused on the development of new product to be delivered thru their multiple delivery systems and making SpongeTech® America’s Cleaning Company™. With sale world-wide in the residential markets they are looking to expand in to medical products markets.
CHAIRMAN/CEO: Michael Metter
Company Facts:
Shares Outstanding: 722.866 Million 460 Million (R144)
Market Cap: $123.534 Million (June 10, 2009)
Revenue: 2007 $55 Thousand
Revenue: 2008 $5.6 Million
Revenue: Projected $56. Million (2009)
Summary:
SpongeTech® Delivery System America's Cleaning Company™ is a company which designs, produces, and markets unique lines of reusable cleaning products for Car Care, Child Care, Home Care and Pet Care usages. These sponge-like products utilize SpongeTech®'s proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponges like products are pre-loaded with specially formulated ingredients such as soap, conditioner and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech® is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech® Delivery Systems, Inc. intends to globally brand its Company as America's Cleaning CompanyTM.
PRODUCTS
Pet Care: One-Step pet bath shampoo - Exciting new concept in pet grooming Uncle Norman's™ Pet Sponge allows you to bathe your dog, cat or horse with much less hassle. Uncle Norman's four-in-one action contains shampoo, conditioner, and 42 massage bumps and odor neutralizer. SpongeTech multiple delivery system is earth friendly and paraben free no need to buy all of them separately.
Auto Care: One-step process saves you time and money SpongeTech®’s car sponge couldn’t be easier: Soak the sponge and squeeze to start sudsing action, and then wash your vehicle, Rinse and you are done wash and wax at the same time
- Auto wash and wax Sponge as wash and carnauba wax built in.
- Detail sponge with an all-purpose cleaner and degreaser built in
- A high-tech chamois to dry your car to a high shine
The auto sponge is self-cleaning, too, so you never have to worry about mildew sponges. And it's earth friendly and recyclable, so you don't have to worry about the environment. No need to buy bottles of wash and wax. The car sponge inhibits the growth of bacteria in the sponge.
Children’s Bath: One-Step Bath wash - Make bath time fun and easy Kids take charge and get clean with new high-tech sponges for fun at bath time. This child bath toy is filled with hypoallergenic soap so your little one gets clean without irritating sensitive skin.
We recently licensed Viacom’s Nickelodeon subsidiary. We have created the products and packaging for children’s bath sponges in the likenesses of Nickelodeon characters SpongeBob Square Pants, Dora the Explorer and Go Diego Go. These products will be available in major retail outlets which will carry Nickelodeon licensed items. Our marketing research leads us to believe that the bath products will be very popular among children and their parents at price points which are affordable.
Household Cleaning: Tub & Tile Cleaner is preloaded with a powerful degreaser and detergent soap built-in, inhibits the bacteria growth in the sponge and can be used for multiple washes. The Eliminator™ Chamois can dry the tub and tile and holds up to 1200% of its own weight when wet. Do not Use on Acrylic Tubs & Tiles or Shower Enclosures!
Also for Kitchen use and is infused with an earth friendly and paraben free antibacterial soap or detergent.
The Household products market is very competitive and therefore expensive to enter, we are seeking a partner which established brand recognition and dedicated retail shelf space. We have designed and tested our product for a major company. To date, both parties are pleased with the product line and its test market acceptance.
Healthcare and Cosmetics: SpongeTech® multiple delivery systems has developed and tested a derma-sponge which may be used as an applicator for sun block and other skin care products. Discussions are underway with a market leader in the sun lotions and sun block preparations industry.
INVESTORS
Despite the worldwide economic slowdown, sales momentum of SpongeTech® products has remained strong. Our projected revenues and earnings as previously announced for the current fiscal year (Ending MAY 31, 2009) will be accomplished or exceed our forecast.
Their 10Q third fiscal quarter ended February 28, at that time we had approximately 722,866,000 issued and outstanding shares with RM Enterprises holding approximately 460,000,000 shares of restricted common shares (R144)of stock (which can only be bought back by the company).
STORES SPONGETECH® ARE IN
Where to find SpongeTech® National Walgreens, QVC, HSN, CVS, Ace Hardware Stores, Publishers Clearing House, in South West USA Bashas Supermarket, PETCO, Kroger’s Stores South East USA, New England USA Ollie’s, Price Choppers, Strauss Discount Auto, in the West Rite-Aid, LTD Commodities LLC number one of America's premier direct mail and internet marketers, South America, Asia Distribution Company, Middle East Dubai Export Import Company, Amsterdam, Canada, Panama, and Russia
SpongeTech® will be coming soon to ShopRite and Costco.. We recently licensed Viacom’s Nickelodeon subsidiary for children’s bath sponges in the likenesses SpongeBob Square Pants, Dora the Explorer and Go Diego Go these products will be available in major retail outlets which will carry Nickelodeon licensed items.
For More Information:
William A. Young mail: Young & Associates
email: wayoung55@aol.com 1815 E La Salle Road
Phone: 623-238-5245 = Phoenix, AZ 85086
THANK YOU!!! GREAT Post. People are not looking in the right direction if they are not listening to the facts you have just told them. The fundies are great and not even the MMs can hold this thing down. Facts are facts! All else is speculation or your working for the losing team. That's a fact! GLTA. Jim.
I would say there are going to be a lot of T trades today by the way the volume #s keep changing on my scottrade board.
??????????????????????????????????? WOW.
WOW! They sure brought it down a lot from that 30 trillion #. Thats GREAT news.
Hi Huggs, Jim and I will catch the crows for you to bake into your pie.
Today is a good SPNG day, a beautiful day, and a sacred day in the lives of New Yorkers, Washingtonians and all Americans. Many of us observed a moment of silence at 8:43 and 9:03 in memory of the lives lost eight years ago today.
God Bless America
Real nice.
They only help us when we need help.
Yep. I'd sell right now if I were you. But I'm not you. Just trying to help.
I'm trying, but I'm afraid it will be on his timeline. Shouldn't be too awful long, I hope.
Don't jump the gun Shooter. There is nothing wrong with this stock. It's just a little frustrating not knowing the plan. We will see soon enough. GLTY. Jim.
That could happen, sure. But it's not 9/22 yet and a lot can happen between now and then.
Who knows? Agree they've probably not been dormant. My guess would be they believe in cousin Steve and have been buying steadily.
Ultimately anything that's good for the company is good for the shareholder, if you stick around long enough.
But, I'm still sticking to the idea that management is not trying to or going to "do in" investors, maybe traders, but not investors. And he's definitely trying to do in the shorts.
and Wadi made a great point. Family and friends of management own a ton of shares. If we get kicked to the curb, so do they. And he's gotta LIVE with them.
Denise
One of my best IHUB buddies said if anybody ever called him "lucky" when he cashed out big, he would punch them out!
Lots of blood, sweat and tears for 13 months! Now that's what I call living. Love me some spng.
LOL "trader confidence"
great post
LOL, I have absolutely no idea! We bought in at .044, watched it go down to 0.006 (and loaded up) up to .2851 down to .075, back to .17......wow, those were some rides. And we could not have forcasted ANY of those plunges, slow and agonizing "dips," or the precipitous rise from .06 to the .20s in May/June.
I can tell you this. We are in it for the fundamentals, for the marketing genius and business savvy of management. We still believe in those and up or down, we're holding.
If we weren't all in already, we'd be buying.
J and D
I have no idea nor does anybody else whether this move is a ruse or not. The PR stands, so the deal is at market close 9/22/09 we have 1/100th our share counts at 100 times their value.
I have to believe this move was made after taking some what they considered sound advice from their auditors, their securities attorneys, maybe even the Nasdaq listing board. And I also believe this has something to do with eradicating our short position at a high price on the way to the Nasdaq.
Most of us know that SPNG didn't really NEED to make this move. All systems were on go for an uplisting, so I gotta believe there is some excellent reason for SM and MM to choose this route - or rather to choose this as the first salvo in a series of steps along that route.
I don't feel slapped in the face. I feel a little stunned, for sure, and it took a while for the air to surge back into my lungs yesterday morning at 6 am when I read that PR. But Doog, I've believed in these guys for a long time, and I still think they're taking us somewhere that we really want to go.
But good to hear from you, and all the best.
Denise
Doog. Doog? Doog!
Is this our weeeeeeee fella from last fall and winter 08?
Mr. Moskowitz knew we would gasping at this move, since it didn't seem a necessary move at all. Is it so impossible to believe that he has some OTHER tricks up his sleeve? Maybe something that will have shareholders dancing in the streets?
We are still drinking koolaid, holding the bag, and weeeeeing right along. We believe that the decisions SM makes are in the best interests of the company and therefore for its shareholders. This R/S is hard to understand, but just the fact that a company growing revenues and household awareness like SPNG is....and deciding on a R/S out of the blue, makes us believe more than ever that Moskowitz has a PLAN to eradicate airshares at a high price on the way to the Naz.
Jim and Denise
Hear, hear!!!
Thoroughly enjoyed the read. That's the spirit.
Prob 5 to 1. Talk later.
This has to do with advice from D and T, and I gotta believe that makes it all okay.
Not now. Everything's the same til market close 9/22.
I don't think they'll be able to. Too much money getting in now. Fishforbreakfast is right, too much interest and I think this will only increase that. Smaller shareholders may get out (not me) huge ones getting in.
I think yes. Doug and Darklady have made big points about the funds, the huge money behind this. People who don't like this will sell, and I think the pps will be propped up by those funds. Then I think the pps will fly. Squeeze over by 9/22.
You now have 374,500 at 20.4 cents
On 9/22 you will have 3745 at #20.40
Same dollar amount in your account.
However, with a squeeze between now and then, you will have a lot more.
Sammy, now that I've sucked some air back into my lungs, I gotta agree with you. 13 days. Right now we still have what we have, as long as we hold. I think you're right, we will see something else before the K, and there's going to be covering going on big-time. Jim says the squeeze is on.
Denise
From Doug thru OldTymer.
Posted by: OldTymer Date: Saturday, September 05, 2009 4:06:05 PM
In reply to: None Post # of 187599
Ready for a real shocker?...
Got an email from DF. I asked him if he knew the current number of shareholders in SPNG. I had seen a post a couple of days ago where someone said 25,000. I started to chuckle. Well, according to an email I got from him this morning, the approximate number of shareholders is: 72,200!
DISCLAIMER: I'm just the messenger. Just reporting what I was told. Take it for what it's worth. I PM'd someone this am about this. I said if every shareholder held an average of just 25,000 shares, we as a group would hold 1,805,000,000 (Billion) shares. I almost ran out of digits figuring that one out. lol.
Amen, brother. We will be in high cotton.
The short position was embedded a long time ago, when it was a smarter gamble to short SPNG. Nobody except management (and Carpe) had any idea where this company was headed. Heck, even the longs who've been in since spring and summer of 08 have had plenty of doubts.
Some of the way that I feel I admit is gut and intuition. For example, this stock just TRADES like there was a float over 2 billion. And we know and you now know that there CAN'T be a float that high because Delaware says AS is 900M.
I believe in Carpe's argument, too. The one that says the short sellers would be crazy NOT to short a company with SPNG's growing revenues and high volume. It just makes sense! Especially when every other month they're raising the AS giving the shorts a "cover" for selling airshares.
And then, you probably will discount this, but I have been doing an IHUB count which currently amounts to 217 posters and their groups - 270,436,000 shares. Those shares are owned by approximately 1085 individuals and average over 200K per person. If even 1/10 of that average holds for the average of those 72K shareholders, there's your 1.5B airshares.
OlTymer posted this week that he got that figure in an email from Doug.
Opus, whatever shareholder figure is on the 10K will also be a figure of the 'moment,' because of flippers and daytraders.
Doug or Darklady or ROB, could any or all of you confirm that figure? Thanks.
Mrs.Jim
Phrantic, 1.5B airshares is not ridiculous. We have 72,200 shareholders now. If each one of them only had 10000 shares, that makes the float 722 million. And we know the float can't be more than 242M (722 -480RME), so that right there proves NSS is at least 550M.