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I hear ya. at this point im playing with free shares and i would rather be a part of it then be a witness. nothing to lose, plus im bored.
I sent it a day after the RS announcement. and recieved it about 2 hours after I sent it. at this point i am going to hold just for the hell of it ;)
Reply to an email I sent to spng after the announcement of RS
Thank you for your email and inquiry about SpongeTech Delivery Systems. While we understand your concern, the reverse split the company recently announced was authorized after great deliberation by the company's Board, which firmly believes it is in the best long-term interests of the company and its shareholders, including retail investors such as yourself.
As outlined in yesterday's press release, the reverse split is one of a number of steps taken to enhance SPNG's investment structure, prepare for a NASDAQ listing, and, essentially, take the company to a level that reflects its growing product portfolio and sales.
Again, we understand your concern and hope you will continue to follow SpongeTech and its growth strategy.
Sincerely,
Harriet Fried
Lippert/Heilshorn & Assoc.
Not to get off topic but, did anyone see "hard knocks" last night? ST on the practice jerseys! Sweet!
I just reveived 4 car wash kits today and they worked like a champ. I washed the beemer and the magnum. I will use them till they are dried up and buy more..Personally im satisfied with investing in something that has a real product! Go SPNG!
Im wondering if we will see Spongetech on the HBO series "Hard Knocks"? they are following the Bengals this season.
So what exactly does this mean for SPNG bottom line?
Total newby ;)
Camper...Newbie here.. what does 1 holding mean?
Looks like a cup indeed!
Kudos..Should be replied to all bashers.
all one needs to do is watch this video
http://hosted.mediasite.com/mediasite/Viewer/?peid=3bf950b23c3d4cd79150b998f17295be
no worries.
SPNG stock will not shake. Bet!
True that. At least I can actually purchase a SPNG product.
Old letter but very reassuring:
SpongeTech(r) Delivery Systems, Inc. CEO Michael Metter Issues Corporate Update on Company for Shareholders
Thursday June 5, 2008 9:10 AM EDT
NEW YORK, NY (PRNewswire) SpongeTech(r) Delivery Systems, Inc. (OTCBB: SPNG) has had a lot of activity in the past several months and we want to take the time to update our shareholders on some of our recent accomplishments and delve a little into what they can expect moving forward in the next few quarters.
Message from SpongeTech(r) CEO, Michael Metter:
Dear Shareholders:
FINANCES
Un-audited revenues for our fiscal fourth quarter ending May 31, 2008, were approximately $3,875,000; approximately $600,000 ahead of guidance and an increase of $2,315,000 over our fiscal third quarter.
With our balance sheet and cash positions, we have greatly improved due to the increased sales of our products. We do not expect to have any dilutive financing in the near future.
ORDERS
Confirmed signed orders for fiscal year 2009, which started four day ago, are $27,000,000. We see no reason why these orders won't be shipped in their entirety. We are experiencing strong demand in the United States and very strong demand from international buyers
MARKETING
Marketing efforts continue to provide new customers for our "Car Care" products. We are optimistic that this trend will continue and we hope to announce new retail accounts in the near future.
We plan to formally introduce our "Pet Care" as well as our "Child Care" (Puddle Pals) products during July and August. We have increased our production capacity, purchased fabrication molds, and increased our sales and support team to handle the anticipated increased business.
PRODUCTION
Independent sub-contractors using our patented technology and brand names produce our products here in the United States. These sub-contractors have adequate capacity to meet our growing demand.
OPERATIONS
Under the SpongeTech(r) Delivery Systems corporate umbrella, we plan to operate SpongeTech(r) as five operating divisions as new products are introduced:
Car Care Products
Pet Care Products
Child Care Products
Home Care Products
Pharma and Beauty Products
MANAGEMENT
Management is actively seeking other opportunities for its patented delivery system. Our Research and Development team are currently testing and evaluating new uses for our delivery system. I would like to thank the Management Team for a great year and they are already set to more than double next year.
OUTLOOK
We are currently in negotiations with major retailers who are now evaluating and "test marketing" our products. For contractual and competitive reasons, we cannot further elaborate. At this time, I may add, we do not have signed contracts or firm orders and there is no assurance that our proposals to these clients will be accepted.
We are also in negotiations with a major supplier of Brand Name household cleaning products. Our discussions focus on SpongeTech(r) using its patented technology to produce various household cleaning products using the Brand Name of our prospective client. Let me again say, while we are hopeful, there is no assurance of our entering into a final agreement with this client.
We are also evaluating and testing our product delivery system using our patented technology in other products. These include suntan lotion, topical medical uses, beauty aids, and other hardware and houseware product solutions.
In conclusion, we are pleased with our progress and look forward to continued growth in the next year.
Best Regards, Michael Metter, SpongeTech(r) CEO
For more information, please contact Investor Relations at 1-877- SPONGE-T, and/or visit the Company's website at: www.spongetech.com.
About SpongeTech(r) Delivery Systems, Inc.
as far as im concerned today (and this week) was good.
We shook out the weak investors.
Volume is up
Sales are up
Stock bounced back.
What made me laugh was all the so-called longs who paniced and said "i told you this was going to happen"
Good news: They are out
Stay long
Buy more
Just got back from a massage... boy am I glad I decided to take a day off from watching this one..Good week folks. im definitely buying more.. profits are UP!!!!!
looking at the charts this is healthy for this stock. selling is not an option at this point. be patient and you will soak your money up like a spong ;)
Just read a great article:
Filed under: General SPNG— SmallCapNetwork Editor @ 7:08 am
Being in the small cap stock business for a while, I’ve seen enough hype to last a lifetime. Too many small cap companies tend to overpromise, inflate their potential, and then underdeliver. And all too often, the more emphatic the hype, the less there is to tout. The ridiculous irony in the matter is this…the companies that scream and shout the least usually have the most to boast.
It was a reality I was reminded of a few moments ago as I was scouring through Spongetech Delivery System’s (SPNG) latest 10Q. The headline read…
“SpongeTech Delivery Systems, Inc. Releases 10-QSB, for Second Quarter 2008, Highlights Rapidly Expanding Sales Growth! SpongeTech Reports Current Sales Up $331,736 USD over same Quarter ending November 2006!”
A $331K quarterly sales increase for a relatively new micro cap company - not too bad at all, right? Actually, somehow that’s a grossly inadequate description.
What’s only evident in the actual filing - not the press release - is that quarterly sales soared from $27 to $331,736. More than that, the $331K quarter was also leaps and bounds better than the previous quarter’s sales (Q1 of 2008) of $64,000…..a five-fold improvement.
Though the press release didn’t say, I have no problem saying it…that’s huge, and I think it’s only the tip of the iceberg.
What really clinched their status with me was the fact that they pushed their sales up to these levels without the benefit of the new facility, which they only moved into in the last couple of weeks. If they can do a few hundred thousand without a major facility, what can they do with a bigger warehouse? I can’t imagine that $15-$16 million backlog being a problem for the company now….I think that’s all going to go to the top line over the course of the next twelve months.
As for the stock, the company’s market cap was about $1.5 million as of yesterday’s close.
What else can I say? The stock is valued at what I think is about 1/20th of its true worth, and the company just proved the modest sales increases weren’t a fluke.
As much as I don’t like hype, if you only take away one message, I really hope it’s this - Spongetech just proved (to me anyway) they’re the real deal. They said the business was there, they said they were going to get it, and then they went out and got it. They’re on track to get even more and more of it in the future. As of right now, SPNG is my new favorite stock. I really hope you own some, and I can’t say I’d blame you for wanting to own more.
Side note: The last time we looked, the short holders were trying to filter out. If there are any remaining short positions, I think this news could drive the nail in the coffin. That’s actually good for the stock, since all that buying (to cover) could further fuel any rally.
Try "how to make money in stocks" - by william J oneil
I believe it is in its 4th edition. Truly helped me out.
cup with handle pattarn on the charts!
all the bigs are doing it ;)
buy more
Just referring to an old PR but... http://www.advfn.com/news_SpongeTech-Delivery-Systems-Inc-to-Seek-Listing-on-NASDAQ-Capital-Market_37612091.html
This company WILL be on the NASDAQ board.
Congrats folks.. based on the charts this is a buy and hold..buy again.
Vol. is out of hand today! I bought more but I am tapped out of reserves cause wifey is expecting. anyone want to let me borrow a few shares?
New website is up. www.goldrecyclecorp.com
I just emailed Jennifer Goldstein regarding the symbol change. Hopefully I get usefull info. I'll keep you posted.
Could they be changing the name today?
No buys, or sells..Are we done?
Just saw a news report in the silicon valley saying that cashforgold.com gets a D- in payback for gold. this could be a good opportunity for GRC to capitalize on its promise of paying the most for gold and gain popularity!
WOW!!!! $$$$$ in my eyes
The Fight Zone's Gold Recycle Corporation Launches Estate Jewelry Division -- ROYALESTATEBUYER.COM
ADDISON, TX -- (Marketwire) -- 04/23/09 -- The Fight Zone Inc. (PINKSHEETS: TFZI) Gold Recycle Corporation today announced that it has launched "ROYALESTATEBUYER.COM," a high end buying service for fine jewelry and estate watches. The new site evolved from a specialized service for the purpose of buying high quality estate jewelry throughout the USA and Canada.
GRC's President Jim Epstein said, "We are pleased to announce our new buying services which caters to a more refined clientele with higher priced ticket items."
Epstein also announced that Moshe Erlich is now heading up "ROYALESTATEBUYER.COM" as the estate diamond specialist; Epstein said, "We are now buying high quality diamonds, rubies, exotic rings, bracelets, watches and more and the best prices that are worth more intact than melted down."
Moshe Erlich said, "Our service is quite simple. You send us your Jewelry in complimentary insured overnight shipping with FedEx. Your Rolex watches, Patek Philippe watches, IWC watches, Tiffany jewelry, David Yurman jewelry, large diamonds, and much more are professionally valued. We will personally call you with our offer. If the quote is acceptable we will overnight you a check."
The Company projects that revenues from ROYALESTATEBUYER.COM could top $7.5 million in revenue over the next 12 to 18 months. With this development, combined revenues from core business, gold parties and "Friends and Family" program should approach $20 million annually.
The statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934 ("the Securities Act"), as amended and the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may be identified by, among other things, the use of forward-looking terminology such as "believes," "expects," "may," "will," "should," or "anticipates" or the negative thereof or other variations thereon or comparable terminology, or by discussions of strategy that involve risks and uncertainties. In particular, our statements regarding the anticipated growth of the company from our subsidiary divisions, the anticipated longer-term growth of our business, and the timing of the projects and trends in future operating performance are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the timing of revenues due to the uncertainty of market acceptance and other factors, including general economic conditions, not within our control. The factors discussed herein and expressed from time to time in our filings with the Securities and Exchange Commission could cause actual results to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this filing and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
Contact:
Jennifer Goldstein
1-866-786-4443