Hello all, any thoughts on SPNG seeking NASDAQ listing.. With over $700M shares and an increase to 2Bil authorize shares.. I don't see how this equates to a NASDAQ listing.. Basically, what I'm asking is; Will it be worth it for me? Missing the big run this week, and to start investing at 10 cents plus?? I see the products but the stock authorization plan makes no sense to me.. It seems all it will do is dilute the crap out of the stock as we all seen it happen to other otcbb stocks. Is this the big run? Can we expect a possible .50 cents or is that a pipe dream.. To list on the NASDAQ, should the expect stock be around $5.. The only way to get that is to do a massive reverse split.. Buy back shares, another pipe dream... Unfortunely, I missed this week's run, but the kicker is I chose this stock on a forum game. But I have no extra cash to gamble with.. Though it does make me feel good that I'm not a complete imbecile and I can make a decent pick through DD.. Well congrats to all that made huge profits this week and maybe you guys can be the real stimulus package.. lol.. I'm afraid to buy, I don't want to jinks this great run.. (story of my life.. lol..)
SpongeTech(R) Delivery Systems, Inc. to Seek Listing on NASDAQ Capital Market
SpongeTech(R) Delivery Systems, Inc. to Seek Listing on NASDAQ Capital Market
NEW YORK, May 7 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. America's Cleaning Company(TM), (OTC Bulletin Board: SPNG), announced today that its Board of Directors has voted to seek a listing for SpongeTech(R)'s common stock on the NASDAQ Capital Market. As part of this process, SpongeTech(R) will prepare and submit an application for a NASDAQ Capital Market listing. In addition, SpongeTech(R) will undertake the corporate actions necessary for SpongeTech(R) to meet the quantitative and qualitative requirements for the listing application to be approved. SpongeTech(R) currently meets most of the financial listing requirements with the exception of stock price.
'We believe that a listing on the NASDAQ Capital Market listing will enhance both stockholder value as well as continue to help us grow our brand and further establish SpongeTech(R) as a household name,' stated Steven Moskowitz, COO of SpongeTech(R) Delivery Systems, Inc.
There can be no assurance that SpongeTech(R) will meet the NASDAQ Capital Market initial listing requirements, including, but not limited to a minimum bid price for SpongeTech(R)'s common stock.
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.
SpongeTech(R) Delivery Systems 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(R)'s proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponge-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(R) is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech(R) Delivery Systems, Inc. intends to globally brand its Company as America's Cleaning Company(TM).
Safe Harbor Statement
Under The Private Securities Litigation Reform Act of 1995: The statements in this presentation that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended May 31, 2008, the Company's Quarterly Report on Form 10-QSB for the Third quarter ended February 28, 2009. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact:
SpongeTech(R) Delivery Systems, Inc.
Investor Relations:
Bill Young, 1-877-776-6438
wayoung55@aol.com or info@spongetech.com
SOURCE SpongeTech Delivery Systems, Inc.
Source: PR Newswire (May 7, 2009 - 8:31 AM EDT)
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