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I must have missed that rumor. What is the tender off buyout price? 70 cents? 80 cents?
Happy Thanksgiving to all longs in Spongey Land. Our imvestment is holding strong at 5 cents so we have that to be thankful for. As for mgmt's lack of information and late filings, only time will tell who wins here. The silence will soon be broken and justice will be served. I personally could not be happier with my investment. Good things are coming soon. God Bless all true longs. Strong hands will prevail.
Yeah sure... short term investors plop 142M in to a company trading on the grays for a short term play when there is no float to take profits with? Nice try Panther.. Pike knows something Big and the hedgies that shorted this stock at 1 cents are going to be covering their loss MUCH Higher.. Will be extremely fun to watch when all hell breaks loose with the filing... LOL....
Liftoff is almost here. 211 filing is closing in. Shorts are starting to sweat since we bounce between 4 and 5 cents. Whatever happened to their dreams of covering at 1 cent or below? They will be taking a historic loss. Can't wait to see which hedge funds actually go under. Goodbye Bashers. It was my pleaure to post here with you. Holding tighter than ever. GO SPNG!
Hopefully, we will see an 8K filing tonight
so we can GAP UP on Monday AM... Keeping my
fingers crossed. Transparency is the key to our success.
We all learned plenty about this with SPNG.
Excellent DD, NO_BS....
This explains alot on why we have so many
saviors on this board trying to convince longs
to sell their shares. Thank god most people
realize this and will continue to ignore them.
Looking forward to the coming move back to the BB
with the completion of the 211 process. Filings
should follow from there and I can't wait to
chat on here with our saviors afterwards.. LOL..
GO SPNG !! GLTA Longs !!
Planning for the inevitable move up is the only way to
capture the nss money with
very high priced filled
orders. The higher the longs
Place their limit sell orders, the stronger and more painful the squeeze will be
for the naysayers. IMHO, longs should not have limit
Sell orders for less than $3.
We control the float therefore we can control the
Magnitude of the short squeeze. Go Longs!!
FYI- I am driving back from Key West, Florida and last
night I noticed that the
local CVS had the car wash kit in stock on Duval Street.
Coincidentally, I was just
listening to 940am radio
broadcast of the Miami Dolphins and the Tampa Bay
Bucs. Dolphins won in last
Minute with a field goal. I
Heard two radio ads for the
new Car wash sponge. They are
Offering a discount to football fan listeners to buy
a value pack of 4 sponges for
$16.95. They mentioned their
Website and 1-800 to order
This promotion.Business as
Usual could not be more true!
GLTA Longs!
To each his own on strategy.
Scaling your sell limit orders into smaller share amounts increases the odds that orders will execute. Larger blocks may have a tougher time executing because you will have insitutional buyers competing
With NSS for our shares.IMHO.
Ahh.. This Divvy will most definetly cause an accounting of all shares. Can you say squeeze trigger? Get ready for the fun to start. Should be very fun to watch if you are long that is. Aww too bad shorty! How will they account for their counterfeit shares? Can you say Trapped? Trapped like a caged rat... HAHA...
I believe RME does not have to file the Form 3 if it
is not a 10% owner of the O/S. RME does have class B shares
but I do not believe they hold a position on SPNG's board of
directors, thus no form 3 requirement there either. If the
O/S is over 670M shares, then I do not believe RME would need
to file the Form 3. Not sure, but if someone else would like
to clarify, please do. I believe the company has until February
of 2010 to finish their buyback of the RME shares.
My gut feeling is that RME's role as a finance arm is no
longer necessary as the company is cash flow positive and
likely does not need RME anymore. I personally would rather
see SPNG get a LOC from a solid bank. Their account
receivables and their cash flow should allow them to get a
business LOC at this point in time. Not sure if there are any
more pre-requisite forms pending before the 10K and 10Q
filings can be made. I hope they file these two reports at
least a week apart so we have maximum upside potential and
that each of the two filings will create individual
fundamental rallys.
Mingy, I believe you are on the money about SPNG. The coming trading week should be very interesting. My 600K shares are available to anyone who would like to pay $15 per share for 50% of the position and $25 per share for the remaining shares. Holding them tighter than ever. The volume per day is telling the story on O/S. There is almost no float left. No naked shorting allowed. The perfect storm is brewing for all longs. Hold your shares very tight. It is going to be enjoyable to watch how it all plays out. I am still limited to one post per day so bashers need not reply. If so, NO_BS, Mingy and others may reply since my censurship lives on for another week or so. GLTA all longs. GO SPNG!!
Stox, Nice post as always. We know the company has planned for the final death blow to the NSS and those who have perpetrated it. The almighty 10k would be a huge catalyst; however, it may not be enough. Is it possible we may witness one or more of the following actions to wipeout
the large NSS position: (1) a reverse merger to the NAZ (2)
a buyout from a major
cleaning company, like a P&G
or a J&J.(3) A large dividend
or (4) a R/S to the Naz.
It is very obvious that the
company is running business
as usual with (1) new
retailers selling their
items, (2) new product skus
showing up on their website
and at recent Trade shows,(3)
long-term 3 year marketing
contracts with NBA and NFL
teams along with targeted TV
and Radio advertising in
those cities.
I believe we are very close to seeing updated financials for last FY and FY2010 Q1.
I also believe the float has been bought by insiders and big institutional players like, Pike, Furth and others.
I personally own 600k shares
And I know there many out there that own at least that and many who own several million shares. There is also
No doubt that we have a low O/S of less than 500 million shares. Just look at the volume today and yesterday. There are no shares available whatsoever. The NSS are absolutely trapped and cannot cover their counterfiet shares. With 10k, 10q and subsequent relisting back to the otcbb, we should see some serious fireworks. If we get the MOASS that we all know is possible from observing Volkswagon and other similar stories, all longs who have
endured the craziness known as spongy will be greatly rewarded. Hold your shares tight longs and do not sell them to the shorts for less than $3 or $5. Put your limit sell orders in at a minimum of $3 per share. GLTA Long !!
They are a hedge fund who raises capital from pooling investors capital. Some hedge funds go long.. Boy do I feel sorry for the hedge funds who are illegally short on this stock... NOT ! Actually, hope those who illegally shorted this stock, MM and/or hedge funds, go down in flames.
I just wrote Moskowitz an email asking him when
we can receive an update on new customers, monthly
sales figures, and past due filings. His reply was:
"Yes this week" Hopefully, we get the news we are
so desperately waiting to hear. Since, I am only
allowed one post per day I will not be able to
respond to any replys. If you want to email him
questions yourself, you can email him at
steven@spongetech.com
If you do email him, I recommend you write him
a professional and courteous email if you want a
response.
Nope. According to Etrade Level II, those were 4 Million
shares that were bought back at the Bid. the volume bar was green. The float is as tight as ever. Shares are drying up.
The counterfeit shares will not be covered until we are much
higher than where we are now. 14 Million shares have traded today... There is no way the O/S is higher than 400 Million shares. It is likely to be 300 Million or lower. Shorty cannot find shares anywhere to cover. Longs are not selling either. Perhaps M&M will allow short covering if the SEC makes them allow the conterfeit shares to be covered. I love what I am seeing.. Poor shorts.. no shares.. no way out. I will sell you my shares at $3.00 minimum when the forced squueze starts.
Well, when you look at the
fact that the entire float
has traded 1.5 times in three
trading sessions on the gray
market, it should be very
obvious to anyone including
the S.E.C. that today's
buying was naked short
covering. Given the
circumstances most investors
are not going to gamble their
money on the stock because of
Kmart and the NBA. The
company is still under
investigation. The only
logical explanation for
today's massive blocks being
bought is short covering and
hopefully the company is
buying back more shares. Most
people today complained that
their buy orders were not
going through and some took
an hour or more. That means
the O/S is on the low side,
Period. I believe the shorts
are trapped amd they know it.
There are no MMs to sell air
shares to each other anymore,
thus the covering has begun.
With a 10k filed in the near
future, the truth will be
known and we will all look
back on days like today and
realize how much work our
Government needs to start
doing to stop the illegal
business of selling
counterfeit stock. I hope we
see major financial penalties
for the MMs who went along
with the NSS and DOJ arrests
of the Hedge Funds and paid
bashers responsible for this
mess and the countless other
stocks under attack by these
white collar criminals. Write
your local senator to stop
all NSS and push them for
tighter regulation to ban the
practice all together. GLTA
Longs. Good night. This is my
one post allowed for the day.
Will post again on Friday.
10K is on the way. The company is doing business
as usual by selling to new retailers, Kmart and Sears.
They are signing more sports advertising contracts.
We will soon know the facts of the SEC investigation
and the facts of the company's financials. The longs
are going to be rewarded big time. The shorts have
only a few more days of sub 10 cent to cover their
illegal shares. Go SPNG. Up 65% today !! HAHAH !!
No. Actually there are only
500 million outstanding
shares that are real shares.
The conterfeit shares make up
the difference. If you can
remember that during the
S.E.C. Investigation the
company raised the A/S to 3
Billion shares to allow the
shorts a chance to cover.
Well, Today they got their
chance and they covered like
crazy today. The S.E.C.
allowed the company to raise
its A/S to 3 Billion shares
several days into an
investigation. Why do you
think that is? Let me fill
you in. The S.E.C. does not
Want a disruption to our
markets, especially during
economic times like these. I
believe the truth will soon
be known and the shorts and
bashers we see on these
message boards posting day
and night will soon be gone.
The 10k will be released by
the S.E.C. and the only
people who should be looking
over their shoulders are the
criminals who illegally
shorted this stock and the
paid bashers who posted day
and night to scare retail
into giving up their shares
so the covering could
commence. The S.E.C. will
definitely get the DOJ to
hunt down and close more
hedge funds. Good riddance to
all the criminals and paid
peons. You should be worried.
Your day in court will soon
come and we will see who is
laughing when the truth comes
out. Your not getting my 600k
shares. Holding tighter than
ever. GLTA Longs!
All longs or shorts cannot do anything right now. The facts
are not known at this time. I would suggest waiting for the
facts which are soon to become public. After the facts are
out, I will then, and only then, make an investing decision to
buy more or sell. NO_BS and others have tried to help
longs understand that there are no facts related to the
company's sales, revenues or share structure. I suggest
we all wait for the public version of the 10K because it is
very evident that the SEC has the 10K and 10Q in their
possession at this time in order for them to come to a
conclusion in their investigation. We will all soon know
what the facts are. We have waited this long.
There is no point in making any further investing decisions
with this particular stock/company until the facts are known.
IMHO. GLTA Longs. I have been limited to 1 post per day by
the moderators so I will not be able to respond. Enjoy
your weekend and wait for the facts. I have a strong feeling
the longs will be happy with them.
Just like Stoxmagic, Darklady, Alfie and other true long term investors have said, I believe the company
will file tomorrow to avoid opening on the grey market;
to vindicate themselves with the government and all
naysayers like the NY Post;
to continue building their
company and shareholder
value, etc. We have all heard
rumors including myself. The
audited and certified 10k for
2008 and 2009 will tell all,
good or not good. Period.
If you believe in the
products and have used them
on your car, pet or child,
you already know they work
and that overall people like
the product and reorder it.
In era of Madoff, nobody
would try to pull off another
scam of the century with all
the heavy duty advertising
and exposure these guys have
paid for. Nobody is that
stupid to end in jail
especially when
they are already very wealthy
from other family
businsesses. I believe the
numbers for sales and revenue
are real. I also believe the
company will be cleared by
the feds and will be trading
On the OTCBB sometime next
week at the latest. Rumors
aside, my gut feeling tells
me the longs will in fact be
rewarded and the criminals
Who tried their very best to
bury this company will not
just lose their millions, but
they will lose their freedom
too. NSS will be investigated
and criminals will be
prosecuted under the new
sheriff at the S.E.C. I have
been limited by the mods to
one post today for speaking
my mind. Good Night to all.
GLTA Longs.
I suggest you read the filings tomorrow from our other favorite stock. This company can issue stock. Its still in startup mode. They can buy back shares when the revenue picks up too.
Wrong. We will see all filings this week with numbers in-line with PRs.
Watch and learn.
Read the 10Q from end of March 2009. They bought back over 500 million shares. Have you bothered to read it? If you do not think they have been buying more shares backm you will
be very unhappy when you read the 10k and 10q later this week.
Go back and look at every 10Q that SpongeTech has filed.
The name of their auditor is shown on every filing, audited or non-audited. D&T's name will be on the FY2010 1Q, 2Q, 3Q and 10K as per their agreement with the company. The truth will be out soon for all to see in the filings.
I believe the company has PR'd D&T's consulting services on more than one occasion. These guys work at a negotiated hourly rate like all other professional consultants. The
company had PR'd D&T's involvement in overseeing R&S and
putting together the 10Q and I have no reason to believe
otherwise. When I sign a contract to peform professional
consulting services and I have a deadline for a 10Q filing,
I do my best to meet my deadline and provide the services
required to allow my client to meet its FY2010 Q1 filing. If the company was not currently working for SPNG, then they
would have denied that they had a signed contract and they
would have denied they were working on the 10Q as PR'd
by the company. I do not have inside information. I have
nothing but rumor from those close to the work being done
on the filings. I have no reason to believe otherwise.
Exactly.. It much more likely that (b) is where we are heading or we would have seen charges by now. If serious
criminal activity was in fact going on, it would have been
acted on by the DOJ by now. That is certain.
Who said they were auditing the 10Q. I said they are putting the 10Q together. I did not say there were performing an audit. There name and address will be on the 10Q as their new accountant.
Correct. Key word you mentioned was "if" the company has done anything criminal. Why is the key word "if" because nobody anywhere knows the truth. The truth will vindicate those who were the target of hedge funds. The truth will also point the investigation in the right direction, the hedge funds who shorted and distorted as Stoxmagic puts it. IMHO.
Wrong. D&T is doing the 10q and is verifying all sales and profit that will be filed later this week. Watch for it. I am 100% confident that you will see D&T's name on the 10q Q1 filing due by October 15th, which is Thursday.
Let's just say I have a friend in NY that knows what is going on. I do not know specifics other than the 10k and 10q are complete and that they will be filed this week.
I do not have much other information other than that.
NY Post stories will prove
to be bogus as it relates to
sales and customers. I know
nothing more. Those involved
in those stories are being
looked at very closely including those who instigated the lible.
Wrong.10q by D&T will be released this week. Watch and learn.
D&T put the 10q together. That is fact and will be filed this week along with 10k done by R&H.
It won't be audited by D&T, but it was put together by
D&T. That is fact and you will see their name on the
10q. Still sounds like a scam
to you. I think not. D&T would not work for a scam company. They would have bailed if SPNG was a scam.
They obviously are not a scam
and the truth is right around
the corner.
Stay tuned this week. Filings will stop all the negativity on this board. The truth will be out. Innocent until proven guilty. I have not seen the DOJ involved and I have not
seen any arrests either. For
now, I believe we will soon
know the whole truth. Good or not.
Yeap...Only a few more days and we shall see the almighty 10k and the 10q done by D&T as well. Should be a nice week that will end all the conjecture.
Mark my word. I understand
that we will see it before
the end of the day on Friday, possibly earlier. The statements are done and will
be filed shortly. There is
Nothing the hedge funds can
Do to stop them from being filed either.I don't care
about Soapy and I do not work
for the company. I know what I know from a friend in NY. Filings are on the way, like it or not.
We shall see. I bet you we will see not one but two filings this week, 10k and 10q. I am very sure of it.
I have personally made a good
amount of money when I sold
my shares worth 1.5 cents at
22 cents. I bought back in at
6 cents with all free shares and have no way of losing any
money, only a small portion
of my profit. I trade, I do
not buy/hold penny stocks,
only blue chip stocks. To
answer your post, you have no
facts to substantiate
dilution, made up customers or sales. The 10k and 10q
will provide share structure
and certified results that
will be frightening for your
bosses who shorted the stock
in their hedge funds. GLTA Longs !!