I thought all the sales were in Australia etc. I guess the PR is telling us that WNBD will capture the world one TV station at a time.


Starting the week of August 31st, Toronto area "A-TV" will be the first in North America to air 2-minute reality style "consumer experiments."

It seems to me that some shareholders are working harder on Winning brands marketing campaign then Eric ever has: homemade testimonial videos, sneaking product onto store shelves and hiding competing products. Maybe Eric is too busy filling out Form D's, composing the next fluff PR, adding or subtracting potential customer logos to the web page and disseminating glowing predictions to shareholders via e-mails.

I would like nothing more than to be wrong about SPNG and eat crow, but unfortunately, I doubt that SPNG can make a miraculous turnaround and proof me wrong.

Yes, no doubt Spongetech is spending a ton of money on advertising. Question is, what are they really advertising, as they really have nothing more than a as "seen on TV" product with a very limited live span. Ever wonder why the other "as seen on TV" products don't advertise like SPNG does?
It's because if you want to make a profit, you need to have enough advertising to find the most buyers for every dollar spend, but not too much advertising or the costs will destroy all your margins. Of course the product still needs to be a hit with consumers, which I doubt for Sponges when comparing them to other "as seen on TV" products that are hits.

Moskowitz and Lazauskas make quite a team.

He is also President of Vanity .. VAEV see IBOX

http://investorshub.advfn.com/boards/board.aspx?board_id=15243

SPNG has too many red flags and is overpriced by every measure

Looks like Fire Lane did a nice coverage on that subject:

Posted by: Fire Lane Date: Wednesday, July 22, 2009 3:30:14 PM
In reply to: miami_vice who wrote msg# 145630 Post # of 166536 [Send a link via email]
I called the NASDAQ listing department says SPNG has not applied, this is as of 5 minutes ago. Upon contacting dow jones they told me that they were only getting that from SPNGs own PR. dow jones has no idea if they applied or not. NASDAQ did say the SPNG has NOT applied and does NOT qualify. the number for nasdaqs listing department is published on their web site. call it

Probably a save bet!

Obviously, I changed the signature

That's exactly how it works. Don't know what Bill Young is thinking, but he seems to be more than just an echo for Moskowitz

I send it to the SEC, they will get to the bottom of it:


To whom it may concern,

Spongetech delivery systems (SPNG) seems to mislead investors:

on 7/27/2009 they issued a press release saying in part:
(OTCBB: SPNG) is pleased to announce that the Company is taking action to amend its Articles of Incorporation to reduce the number of common shares that the Company has authorized to 900,000,000 (nine hundred million) shares. In addition, the Company has also begun the process to lower its outstanding shares to approximately 500,000,000 (five hundred million) shares.


As reported in the Company's 8-K filing on May 26, 2009, SpongeTech® amended its Certificate of Incorporation to increase its authorized common shares from 1,800,000,000 (one billion, eight hundred million) to 2,000,000,000 (two billion).

while in the meantime the raised the authorized several time as late as a week ago to 2.75 billion shares. Also no 8-k filings have been made since May 26,2009 about the changes in sharestructure.

Also, it appears that Spongetechs investors relation personal (Bill Young) dissiminates information to shareholders as truth, that is unlikely to be true and not veryfiable and entices shareholders to buy the stock: Here are two posts from Investors Hub:

---------------------
Posted by: spongeboy Date: Sunday, August 16, 2009 6:58:51 PM
In reply to: help me who wrote msg# 166483 Post # of 166502 [Send a link via email]
1.5 Billion Short confirmed? I Called Bill Young also

I called Bill Young on Friday about the A/S increase and he volunteered info to me about 1.5 Billion Naked Short shares (nothing about Singapore per other posting) - I did not ask about it - he told me and I believe him. I will keep the rest of the conversation private because I do value his time and the time he spent with me BUT I posted his phone number on Friday and any investor can call him - he is our contact for investor relations.

----------------------
Posted by: spongeboy Date: Friday, August 14, 2009 3:17:36 PM
In reply to: SpongeBob2010 who wrote msg# 165272 Post # of 166482

I spoke to Bill Young who answered at 623-238-5245
and I am now very happy with this investment. Any shareholder can call. Be polite. You will like the answers.


Posted by: sponge_digger Date: Sunday, August 16, 2009 10:16:46 AM
In reply to: k9narc who wrote msg# 166150 Post # of 166502 [Send a link via email]
I believe the shorts are with us like it or not. I spoke with Bill Young (SPNG IR) on the phone Friday who openly stated to me that "over 1.5bil shorts are out there and majority in singapore". Perhaps the reason for the increase in A/S is so these shorts can cover and like STOXMAGIC talks about...after the cover they can be forward split to the current shareholders and we as shareholders can benefit from the illegal activity. As the short positioned grow closer to facing the music we are seeing desperate and unsubstantiated claims about the company. I embrace this as it appears to spell out the shape of things to come. My opinion is that the company is hyperaware of the ss activity and has taken every step legally to deal with it and continue to focus on business at hand (Selling sponges and Branding a name).

Good luck to all and sleep well at night fot one day soon we might wake up and be listed on NASDAQ

Thank you for your attention,

Sincerely,

Crashman

What was the OS on March 2007 2008 2009 ?

Correct, they are practically begging the SEC and the DOJ to shut them down. Of course Bill Young will claim that the investor "misunderstood" him.

No, the issue is dilution and the companies failure to be honest about it among other things.

I know.

There is no other explanation then dilution for the huge trade volume with little sp movement. Sorry, FTD's ain't gonna explain it and that Singapore bit is just another concocted story.

Fact: 16 PR's in 16 days - company continuing to promote the stock on a daily basis!
Fact: questionable and missing filings
Fact: millions of dollars spend on stock promotion entities.

One scenario where there can be an FTD on the long side: Aunt Nellie bought some share a while ago and had the Certificates delivered. Now she sold her shares for a profit, but she has to send her shares to the broker and the broker has to get the authenticity of the shares verified. Both these procedures can cause delays beyond the the usual settlement period and cause FTD's. Obviously, Aunt Nellie wasn't short selling.
As posted by the SEC, the FTD list pertains to FTD's short or long. Not all short sales are naked, legal short sales do not show up on the FTD list unless there is a delay in the delivery of the shares.
As for Bill Youngs statement and your conclusion. It is impossible to naked short sell shares in the US and not have those shares show up on the FTD list. It is possible that someone in some other country sold naked shorts to other people in other countries since that doesn't fall under the US securities laws. However,
a) who cares in the USA?
b) that scenario is as likely as that we fall off the edge of the earth traveling a little east of bermuda.
c) How would Bill Young possibly get reliable information about such a thing while no-one else can verify it
d) Isn't that scenario rather convenient from the companies perspective?
e) if it were really true (LOL) shouldn't every investor be worried about holding worthless counterfeit shares instead of the genuine thing? Isn't that a sell signal? If someone holds you up at the next street corner do you tell the robber "wait, let me get some more money for you from that cash machine over there"?

It's 5 days, here it is:

B. Reasons Why A Security May Appear on a Threshold List

A security's appearance on a threshold list does not necessarily mean that any improper activity has occurred or is occurring. An equity security will appear on a threshold list if it meets the definition of a threshold security set forth in Regulation SHO, meaning that failures to deliver the stock (i.e. to the party on the other side of the trade) have reached an aggregate of 10,000 shares or greater at NSCC for five consecutive settlement days and are equal to 0.5% of total shares outstanding;
C. Reasons Why A Security May Stay on a Threshold List for Longer Than 13 Consecutive Settlement Days

Even when broker-dealers close-out delivery failures, a security may remain on an SRO's threshold securities list for longer than 13 days. Examples of why securities may remain on the threshold securities list:

* after broker-dealers close-out all delivery failures, the security stays on the threshold list for five consecutive days;

* new delivery failures resulting from long or short sales may have crossed the threshold, keeping the security on the SRO's threshold securities list; or

* the delivery failures at NSCC may have been established prior to a security's appearance on the SRO's threshold securities list, and are grandfathered from the close-out requirement of Regulation SHO.

For information about specific securities, contact the appropriate SRO or its market center listed above.

http://www.sec.gov/spotlight/keyregshoissues.htm

Yes you can have less than 10,000 in a day. Once on the RegSho list, I you stay there for I believe 3 days even if the numbers drop.

I spoke with Bill Young (SPNG IR) on the phone Friday who openly stated to me that "over 1.5bil shorts are out there and majority in singapore".

Wow, looks like Bill Young is in it big time as well. Outright lying to investors to sell shares is illegal. Another big red flag in the SPNG forest of red flags.

"That is 69,519,911 million shares for just the last half of July. My Rain Man like skills came up with that :)"

No Rainman would tell you that Fails to deliver on a given day are a cumulative number of all fails outstanding until that day i.e. they already are summed up. From the SEC my bold:



The values of total fails-to-deliver shares represent the aggregate net balance of shares that failed to be delivered as of a particular settlement date if the balance is 10,000 shares or more. If the aggregate net balance of shares that failed to be delivered is less than 10,000 as of a particular settlement date, then no record will be present in the file for that date even if there are fails in that security. Fails to deliver on a given day are a cumulative number of all fails outstanding until that day, plus new fails that occur that day, less fails that settle that day. The figure is not a daily amount of fails, but a combined figure that includes both new fails on the reporting day as well as existing fails. In other words, these numbers reflect aggregate fails as of a specific point in time, and may have little or no relationship to yesterday’s aggregate fails. Thus, it is important to note that the age of fails cannot be determined by looking at these numbers. In addition, the underlying source(s) of the fails-to-deliver shares is not necessarily the same as the underlying source(s) of the fails-to-deliver shares reported the day prior or the day after.

Please note that fails-to-deliver can occur for a number of reasons on both long and short sales. Therefore, fails-to-deliver are not necessarily the result of short selling, and are not evidence of abusive short selling or “naked” short selling.

FTD's are not necessarily naked short positions, but most likely long shares that are simply late for delivery. You can see how the FTD's fluctuate on a daily basis, if there was serious short selling you wouldn't see 4.3 million one day and 356 the next. You would see a constant number every day. All this table shows is that a lot of shares are entering the market and have delayed deliveries. Most likely they are newly printed and "restriction removed via opinion letter" shares.

Yes it has to be over .5% of the last known OS to make it to RegSho. the SEC uses last published (filing) OS as number. 722 million x .005 = 3.61 million shares would put the stock on Reg Sho. Once the OS is updated, we will see SPNG quickly disappear from RegSho IMO.

In the grand scheme of things, not a lot FTD's compared to the A/S. In fact I'd say insignificant as a percentage.

It's only one person, Donald Sledge, at his age he has the right quit for personal reasons:

Donald H. Sledge
Director
Mobilepro, Inc.
Bethesda , MD
Sector: TECHNOLOGY / Diversified Communication Services

69 Years Old
Don Sledge has served as a Director of the Company since January 2005. Mr. Sledge serves as the chairman of the Company's Compensation, Audit and Nominating and Governance Committees and also serves as the Lead Director. Over the past 10 years, Mr. Sledge has focused on finance and investments. From September 1999 to March 2007 Mr. Sledge served as a member of the Board of Directors and as chairman of the Compensation Committee of Merriman, Curhan, & Ford ('MCF'), a NASDAQ listed broker/dealer. Mr. Sledge has also served as Chief Executive Officer of MCF between September 1999 and October 2000 and as Chairman of the Board from September 1999 until May 2001. Mr. Sledge also served as a General Partner of Fremont Communications from October 2000 until September 2003. In addition Mr. Sledge sits on the Boards of Directors of two privately held companies. Mr. Sledge received both a bachelor's degree and an M.B.A. from Texas Tech University. He also served in the United States Air Force.
Director Compensation (Mobilepro, Inc.) for 2008

http://people.forbes.com/profile/donald-h-sledge/54474

now we just have to figure out how they reduced the OS from 1.25 billion to 722 million with no cash. Of course you all think the A/R was paying for it or that RME gifted the shares to SPNG LOL.

You want to discuss the last 10Q again?
page F-2

Common stock, $0.001 par value, 1,250,000,000 shares authorized, 1,249,451,605 and 365,473,214 shares issued and outstanding at February 28, 2009 and May 31, 2008

The SOS is an excellent source, in fact the best source when trying to find out the A/S. As for the 10k, I'm afraid we will never see one, but I hope I'm wrong. The TA would be the best source to inform investors about the current O/S, but the company chose a gagged TA, although we got some lucky glimpse at the OS recently. As for other authorities, I wish I had a peek into the SPNG files of the SEC and DOJ. I'm counting the days until the SEC suspends trading. - crashman - august 14 2009

Interesting, now it is only the OS that matters. I agree, ungag the TA and let us have the O/S info. But it appears that only 2 weeks ago the A/S was awfully important not only to the long and strong shareholders but apparently to the company as they announced that A/S reduction. Why issue a PR and get shareholders all excited when:
a) you never intended to lower the A/S
b) you never thought the A/S mattered in the first place

please explain that to me?

and you know this how? This is now the second time of a well documented incidence where Moskowitz has been proven to mislead investors. How many times does it have to occur before the faithful lose confidence. My guess, a lot already lost confidence and at this stage the believers can barely keep up with the dilution buying "more cheapies", it will take only one bit of bad news and this stock will go into free-fall as everyone will seek an exit. good luck!

Did you ever play three card Monte in NY? It's kind of the same game but different players with SPNG. To the retail investor it looks like it is card #1 but wait until the card gets flipped over.

no I don't care, I won't touch this stock at any price.

this hasn't even started to get ugly yet.

It could get very ugly on Monday IMO gl.

Maybe someone should tell Bill Young to get in touch with his company and find out what they are doing (as if that were possible) Since the company appears to be not forthcoming with their own IR person, maybe someone should give the SOS phone numbers to him so he can update himself.

"...all your blither about "lying" is nothing but a fat, fetid load of hooey."

LOL, I'm not the one who has to worry about it, the company however does, and the courts will decide whether they are putting out false and misleading statements or not. I'm afraid by that time (when I will be proven right) there will be a different audience here though.

CAll the SOS Delaware yourself, or better yet write them a letter. It's a fact! nothing gossip about it.

I'm not a native speaker, nor did I get A's or B's in English at school but this is what I learned:

"SpongeTech(R) Delivery Systems, Inc., "The Smarter Sponge(TM)", (OTCBB: SPNG) is pleased to announce that the Company is taking action to amend its Articles of Incorporation to reduce the number of common shares that the Company has authorized to 900,000,000 (nine hundred million) shares."

The Present Progressive tense (or Present Continuous) is a much-used verb tense in English that describes on-going actions at the moment of speaking, stressing that the doer is in the middle of the activity and hasn’t finished yet (the action is incomplete). It is used to refer to a temporary dynamic activity occurring at a specific time in the present, not on a regular basis.

http://sites.google.com/site/englishgrammarguide/Home/the-present-progressive-tense