Yep, can you say 'false and misleading statements' ?

"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."

"I wonder why Crashman is picking apart 2 of the better pink stocks out there."
LOL it's a few more stocks than 2 that I have been following, most of which have RS'd shareholders to death already or are on the express way to do so, others were halted by the SEC. WNBD is one of the few that is still alive, but it too can run into the dead end easily, it's all up to Eric.

No, not a lie, I'm talking about the OS and the document from the TA that we saw.

Those are all very good questions you should ask the company. I really don't know how they can make shares magically disappear without breaking laws.

I think nitpicking isn't going to improve the situation. Why would the company increase the A/S to 1 then 1.5 then 2 then 2.5 and now 2.75 billion shares if they aren't issuing any? We know that the OS was at 2 billion not too long ago. There is hope and then there is reality.

"Especially when they're in MUCH worse stocks than WNBD."

So you agree that WNBD is a bad stock?

OMG, 2.75 billion shares A/S now which means that the OS has to be around 2.5 billion by now. Sorry, have been busy I missed the whole AS increase. Am I surprised? No! But all that PR talk about lowering the AS now has become a joke. All of SPNG mgmt seems to want to sit in a clown car with Moskowitz at the wheel. I guess that's ok as long as the money is flowing right? Metter, Celia all go along with the scam, I guess all their brains have turned into soap filled sponges soaking up shareholder money. I hope the SEC will come along with a chamois soon and wipe up that mess.

"...are just trying to con people out of their shares so they can get in lower. "
I'm glad I'm not one of those people. I personally think that to con people out of their hard earned money by selling them overpriced shares while at the same time telling them how great the company stock is, is where we should focus our attention. Hiding facts such as financials and share counts is where I see the problem, and announcing 'done deals' like the national account in the US for 2 consecutive years while knowing very well that it might never materialize, is IMO on very much on the edge of being ethical. Shareholders should have the right to know what exactly they are holding.

yes, that would leave you zero shares. At first, one has the tendency to average down until one realizes that it would be a hopeless cause. No offense, but IMO you got 'pick pocketed' by Kevin Kreisler and gang.

Rocketstocks,
Funny thing, but in my corner of the world they call it stock manipulation. Knopick sure did a great job raising interest in the stock and therefore attracting more stuckholders. Do you remember why the sp went up 8 fold in june? Was it the prospect of a national account with Lowe's or the filing of another form D? I sure can't remember what the company did that deserved such an appreciation in sp. I don't know how much longer they can keep up the charade, but I would think that at some point shareholders will demand that Eric "shows us the money", i.e. publish financials, ungag the TA etc.
As for the current sp, it is all in the eyes of the beholder. There are some that bought very cheap shares and then averaged up because the stock was doing so great. Others got caught in the excitment and are averaging down. I myself sold last around .02 a while back and stay on the sidelines until I see real measurable progress or an opportunity to flip and take some money of the table before the 504 guys get it.

LOL no I don't think so

I can see it now, all the people in Canada will be washing their car in the driveway with a Spongetech sponge on Christmas day. This will be a big hit I'm sure. Let's just hope Spongetech will be still around by Christmas, because the SEC-Grinch might steal Christmas for Spongetech.

not looking so good anymore. I bet a RS is coming soon.

Great, increase the A/S to 10 billion from 500 million. That way, the stock can run down to the no bid - .0001 situation without any shortage of stock. They should have applied for the next 1:1000 rs as well to make things run more smoothly.

"The Signature Fund filed an 8K on November 13, 2008 showing 41 million shares."

No they didn't, they filed a 13g though.

Maybe aunt Nellie finally found her shares

Spng is now 14 days on the regsho list:
http://www.buyins.net/tools/symbol_stats.php?sym=SPNG

Where is that forced short squeeze I heard about for the last two weeks? Shouldn't we see 1 billion (or more) shares trade as the "naked" shorts cover? Mmmmmh or maybe H. Homeboys Aunt Nellie is still looking in her sock drawer for the 5 million certs that she misplaced in her summer home. (Hint: look in the garage Aunt Nellie!)

I would be, but I won't.

I agree.

Found this in my mail:

Just got the word!

Two clearing firms have shut down Moskowitz and RME from depositing SPNG paper. Not only that, but they are no longer allowing clients to sell the stock. They are asking them to move it out of house.

What's it all about? Bogus legal opinion letters.


http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_S/threadview?m=tm&bn=63817&tid=256612&mid=256612&tof=4&rt=1&frt=2&off=1

The company is more than looking desperate now. If I have ever seen a fluff PR, this would be one for the trophy shelf.

"....0934 cents, that is what my SWVL account is worth..."
Sorry to see that, but you are not the first nor will you be the last investor who lost a bundle in this way and Seaway is neither the first nor the last company this applies to. I don't think it is much consolidation, but we all have been there at some time or another.
I swore to myself that I will warn others about how these stocks work. Of course sometimes it is difficult to reach people who are blinded not only by their own greed but are told by the companies paid or voluntary co-conspirators that we are the 'paid' and bad guys who want to rob you of your profits, when in fact just the opposite is true.
So don't blame yourself, the smartest people can get taken by companies like Seaway, blame the people who are really responsible:
Seaway mgmt. and Seaway's facilitators and enablers.

If I were an investor, I really would not worry about regsho as much as counting the days until the authorities step in and the SEC will suspend trading in this stock. IMO the evidence that there is something foul with SPNG stock and Spongetech mgmt starts to pile up in and is nearing its climax.

I was high noon for Eric to come up with something or this would have gone subpenny already. PR isn't exactly a Lowe's announcement but enough to fulfill the Form D obligations for another week or so.

In fact that is exactly what they will have to do. They have to file something and pay a fee to re-assign to the new parent company.

No, not disputing anything, just did some DD and found the important patents by HH Brown Dicon and competition.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=37446936

You are welcome, every patent shows the assignee. I'm glad my DD comes in handy.

Apparently some belong to HH Brown (assignee HH Brown) and some Dicon (assignee Dicon) Back then I believed that HH Brown = Dicon (Dicon being a sub of HH Brown) which obviously is not true. The ones that say dba Dicon, probably belong to Dicon where the ones saying HH Brown only, probably still belong to HH Brown. Hope that helps.

Actually it is HH Brown, I thought that Dicon was part of HH Brown back then.

everyone told me to buy CIT yesterday, glad I didn't listen.

Hold on to your wallet, they play tricks, they did it before they can do it again.

gone

Sorry, it was the pet sponge I was thinking of, same thing:


Steven Moskowitz, SpongeTech(R)'s COO, said "We are excited about launching this
new product and welcome people (and their pets) to be among the first to
experience it. We have an Introductory Offer which consists of 2 Uncle
Norman's(TM) Pet Sponges and 2 hi-tech Chamois, each that absorb 1200% of their
own weight to dry your pet, for $19.99 plus $7.95 S&H. Please visit our website,
http://www.spongetech.com, and place your order today."

Looks like the price for the car sponge is down to $5.20 that's a lot less than the $19.99 from earlier this year. It still has ways to go to reach the #9 product, a beautiful car sponge for $1.79.

How about 'spongebob bath sponge'? That should pop up Spongetech's product with all that support from Viacom right?

Spongetech patent infringement? Don't think so:

http://www.amazon.com/Spongeables-Soap-Sponge-Milk-Honey/dp/B001V2I9LS/ref=sr_1_22?ie=UTF8&qid=1250030585&sr=1-22

Go to Amazon.com, type "sponge" in the search bar and see what comes up. Is Spongetech's sponge really a hot selling product? Good luck

Go to Amazon.com, go to search and type in "stain remover", see what comes up. And that is with the Winning Brands fan club trying to lift the product out of oblivion by hitting the winning colours page and giving it glowing reviews.

yes looks like it still belongs to HH Brown.