"This needs another blue sky PR..."
Congrats! Looks like either Eric and I have a psychic connection or Eric is a fan of mine and reads all my guiding posts. I think the PR is a bit fluffy but I'm sure it will do Don't forget to take profits, "buy on rumors sell on news" as the saying goes. We had plenty of rumors IMO

"...with almost $200K in past due taxes a man would want to insist on digging a little deeper then relying on a 'friend' of a 'friend'"

Try $ 400k:
In the end, about a dozen tax issues were discovered that totaled more than $400,000. Mr. Scozzafava said Seaway Valley intervened and paid past-due county property taxes for many of the properties.
http://www.watertowndailytimes.com/article/20090723/NEWS03/307239945

That's right, the deal required for Seaway to hold a certain amount of the A/S in escrow until YA converts to those shares and sells them in the open market, while Seaway works on the next reverse split/increase of A/S. I recommend you read my old posts to understand how it works. I posted more than plenty of times the exact details.
Others wanted to believe that there is some magic escrow account where all those new shares that YA converted went to, and that Tom did all this just to upset all the evil naked short sellers or something like that. Just like TOM had/has all the voting power and preferred shares "to prevent a hostile takeover". At this point, shareholders can only wish that there is a hostile takeover.

Update on Hackett's stores! If they still carry any Winning Colours I don't know but here it is:

Posted by: sambo11 Date: Thursday, July 23, 2009 7:42:46 AM
In reply to: JimsZ who wrote msg# 214303 Post # of 214334 [Send a link via email]
No, the Canton store is just about closed now, it is empty and most of the staff is getting ready to be laid off or transfered to other stores.

The way this store looks, I doubt it will be open past this weekend.

http://www.direxionshares.com/etfs?distributions;funds=erx,typ,mwj,drn,ery,fas,tmf,tyh,edc,mwn,bgu,tza,edz,tna,tmv,drv,faz,dpk,tyd,bgz,dzk,tyo

I believe they do.

Never mind sold FAZ again. Yes shorting both seems to be the way to go. However seems like everybody is doing it, had canceled orders because no shares were available.

FAZ, I'm staying mostly on the short side of it now, it appears that some banks recover better than expected. However I bought FAZ long a little while ago, as I see the markets overbought today. I could be wrong of course with my luck.

"OCEAN STATE JOB LOT.. Just came back from the one in Norwood Mass. The display is at the registers. The display is 4 feet by 4 feet. At least 60 hanging up. The girl at the register said people are buying them. Prce was $ 7.99."

Ocean state is apparently an outlet for surplus/out of style goods. Warehouses of unsold Sponges probably will make their way to that store and the prices is likely to continue to drop.
I don't think that's a good sign:
http://www.bloggingstocks.com/2009/03/26/crocs-come-to-ocean-state-job-lot/

No, it isn't. The disappearance of the Lowe's logo from the web site sure didn't help. This needs another blue sky PR or it will go sub penny really soon IMO.

yep

the 'escrow' account is an example where often fact is mixed with fiction. This happens when someone who doesn't understand how the system works, makes up their own interpretation of how events take place. Others believe the created myth because they want to and because it would be beneficial to them if the myth was true. Often it is a hard lessen to learn, when one discovers that the truth is far from the myth. We sure learned about it here.

NO, this has been discussed endless times. The shorts in SPNG are about 470k shares. If you want to track the latest short report, it is published right here:
http://www.otcbb.com/asp/OTCE_Short_Interest.asp

“...I have been receiving telephone calls from people who say they are interested in the product and then to find out that they are stock holders in your company, trying to create interest. I am very confused and concerned about those type of antics. Creating false interest is not productive and I particularly do not like that type of business...”

IMO (and apparently Eric's suggestion), best thing to do here, is to get rid of all shareholders. I know that many here did their DD, called vendors, went to the stores, took pics on their cell phones, bought product just to make it move and talked to managers about WNBD. Who knows, some investors might have even snug a bottle of Winning colours onto the shelves of some stores. Obviously, investor DD is not welcomed by Eric, and since reporting financial's/share structure is something he is either incapable or unwilling to do, I see only one solution. Of course that would stop the companies funding as well, and Eric might have to swing to profitable/cash flow positive.

Yes, plenty to go around for a company with a negative stockholders equity. In a twisted way, dilution is actually good for this stock, as the per share debt decreases with increasing O/S.

I don't know, at this point, the NASDAQ listing seems to be an all cloak and dagger operation. According to many, SPNG is a "1933 company" and therefore not required to file things like 8k's or Form 4's. Must be nice to be able to ignore the SEC while in the process of up-listing at the same time.

Looks like company or affiliated debenture folks have hired stock promoters so they can sell more shares before this thing runs into a no bid situation again.

Starts to smell more and more like Pegasus Wireless .. but, but they have a real product...

yes and someone else selling even more

reusable up to five times, I suppose.

Are we looking at the same stock?

SPNG getting ready for the NASDAQ uplisting:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=39789789

Hope they do it with a RS and before they get suspended so I can short the hell out of it.

NO, it's officers or directors or 10% owners
that have to file. ALFIE (aka Doug Furth) for example would have to file if his claim that he controls 300 million shares was truthful

Introduction

1. Who are "Insiders"
Corporate officers, directors, and 10% owners

2. What is "Insider Trading"
Corporate insiders buy and sell stock in their own companies

3. Insider Trading Law

* Short-swing profits (profits realized in any period less than six months) by corporate insiders in their own corporation's stock are prohibited
* Insider transactions must be reported to the SEC by filing a FORM 4 within two business days of the date the transaction occurred (2002 Sarbanes-Oxley Act)

http://www.secform4.com/training/what-is-insider-trading.htm

Yep, Spongetch's daily business seems to consist of spreading lots of rumors, issuing fluffy and vague PR's without ever presenting any facts to the shareholders.
Where are the form 4's?
http://freerealtime.brand.edgar-online.com/default.aspx?sym=spng&

"...as long as the OS goes down it is good for us."

So you agree that dilution would be bad for shareholders right?

"And conservative Republican critics of state Assemblywoman Dierdre K. Scozzafava, R-Gouverneur, sought to publicize tens of thousands of dollars in overdue taxes on businesses tied to her brother, Thomas W. Scozzafava. Ms. Scozzafava said the spreading of that information is consistent with tactics used by consultants hired by another Republican in the running, Matthew A. Doheny."

http://www.watertowndailytimes.com/article/20090722/NEWS02/307229951/-1/NEWS

Thanks _bbb_

"umm.. those 500 million share were bought and cancelled.. and it is completely separate from the now 150 million buy back program they have in place."

If those 500 million shares were bought and canceled, then SPNG would boast about it in the latest PR but they aren't! In fact they are extremely quiet about it. I bet those shares were given back to RME in some form or another right after they filed that 10Q.

Folks, things just don't add up with this company, forgive me if I laugh after they are suspended from trading.

"As reported in the Company's
3rd Quarter 2009 filing for the period ended February 28, 2009, the Company
repurchased 55,824,336 shares of common stock at an average price per share of
$0.0308 under its original repurchase program of up to 100 million shares of
stock."

Now what happened to those 520 million shares from RME that "were returned to the treasury" as per the last 10Q. I read here that SPNG repurchased those, but that can't be true according to today's PR! They never repurchased that many shares, makes you wonder what kind of web they weave.

"Figure it out for yourself."

Well I can't figure out where you got that information from. I posted why SPNG is required to file and backed it up with links. Nobody seems to be able to explain where that "1933 company" myth comes from. I sure like to know

Hmm well, looks like people don't believe a word they are saying.

You can keep telling us that SPNG is a "1933 company" but where did you get that information from?

A company must file with the SEC if any are true:

It has 500 or more investors and $10 million or more in assets

It lists its securities on the following stock markets:
United States Exchanges
International Securities Exchanges

Its securities are quoted on the OTCBB.

http://www.oldstocks.com/secfilings.htm

http://www.fenwick.com/docstore/Publications/Corporate/sec/Corp_Sec_08-29-02.pdf
http://www.sec.gov/answers/form345.htm
http://www.sec.gov/about/forms/form4data.pdf

I see no Form 4
http://www.sec.gov/cgi-bin/browse-idea?company=Spongetech&match=&CIK=&filenum=&State=&Country=&SIC=&owner=include&Find=Find+Companies&action=getcompany

LOLOL a pretty gutsy move by Tom! Another beer PR, who would have thunked it. I thought he just announced that the brewery was moved to HCKE? Now why wouldn't the PR be addressed to the shareholders of HCKE? Oh, I know, we are selling SWVL shares at the moment.
BTW. how is it beneficial to Hackett's if some other brewery brews a batch of beer? I'm sure they want to get paid for it. Or do they just pay $.10/barrel license fees for using the 1812 name? Tom? Where are the details? "replenish the system" what does that mean?
P.S. how is Don Platten doing? Does he enjoy holding stock in a brewery?

I think my strategy to sell all at around .02 was a good strategy. .02 > .0155 no?

I was talking about the national managers, not your local HD manager of course. I found a friend at HD myself and he was very impressed as well, but no help with my WNBD trading strategy.

I'm glad I sold at .02 because this is going sub penny soon. IMO of course

No PR today and the stock loses 6% in one day. Why not PR that the Lowe's stuff has been taken off the website? Is Eric running low on words? I like for Eric to put that construction/traffic thing from his e-mail into a PR as well, that way it becomes official. I think the theory that Lowe's has been taken off so that Home Depot won't complain is a little far fetched. I doubt that anyone from the Home Depot mgmt has ever looked at WNBD's website. Good luck !

"Can Tom simply cancel shares? Is there such a thing as that?"

That's an old penny stock myth. Once a share is sold in the open market, it can only be gotten rid of by either buying it back or a reverse split. Reverse split is not good for obvious reasons, buying back, requires Tom to have money which he obviously doesn't.

could be a nice LOTTO play. If Jay gets out from under YA, the return could be big.