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SPNG: I agree, many posts are silly and off-topic and need to get deleted, The mods seem to be biased when deleting posts and seem to have difficulties doing their job in general. Maybe the admins are not aware of this, but Spongetech's primary product is a car wash sponge. I question, what is wrong with posting an article from July 10 2009, about the EPA urging officials to ban car washing? I think when Spongetech loses (or should I say never gains) its primary market, that ought to be relevant to the stock, don't you agree?
What kind of time frame are you thinking about? WNBD already has been around for 4 years and still is in phase I.
yes, these guys right?
http://www.robisonhill.com/
HH, I like your style, you seem to have a real good grasp on what is going on at Spongetech. It is rather odd that they have to reach so far from New York to find an accountant. I always thought as NY being kind of the hub of these kinds of firms. Anyway welcome to IHUB, sorry you are a Harvard man because MIT is on the better side of town LOL
If the trend continues, you will see 7 PR's next week. So far, the company hasn't openly played the NSS card. All the share structure announcements lately have been cleverly crafted with contents that is dated or speculative.
Wow,
Fact, I see 31 press releases for this month alone. That's 1 press release/day including weekends and holidays. SPNG management never rests.
Well, apparently both the TA and them were very aware of it. Obviously they were worried because they immediately responded with that ridiculous but cautious PR telling us what the OS was when the 10Q got filed.
LOL its called a vacation not vacancy.
Someone got hold of and posted a copy of the document. For obvious reasons, that person would want to stay anonymous. Yes, there is no reason to believe the document was "made up" and it is up to the company to prove the opposite. Just release a TA statement claiming that it was not that number on that day and I will believe the company. Until then I assume the company is hiding the true numbers and manipulating the stock just like they did the 3rd quarter. And that is proven by their own filings.
looks real to me. Until I see a counter example, I have to assume that document is correct.
But that's not what they did.
Wonder how sponge sales go in Wash. state?
No driveway carwashes, Wash. state says
Updated 9/28/2008 10:42 PM | Comments 154 | Recommend 36 E-mail | Save | Print | Reprints & Permissions | Subscribe to stories like this
Vancouver, Wash. resident Pat Thompson washes his car in his driveway about once a week. He calls himself an environmentalist but says a ban on driveway washing is "getting a little bit too far."
Enlarge image Enlarge By Michael Anderson, The (Vancouver, Wash.) Columbian
Vancouver, Wash. resident Pat Thompson washes his car in his driveway about once a week. He calls himself an environmentalist but says a ban on driveway washing is "getting a little bit too far."
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By William M. Welch, USA TODAY
Along with wild salmon and steelhead trout, the Pacific Northwest soon may have another endangered species — the driveway carwash.
Washing your car or boat in the driveway or street is a residential ritual as American as backyard barbecues. But the state of Washington is telling its local governments they must prohibit home car washing unless residents divert the wash water away from storm drains, where they say it causes water pollution.
"I understand this is something people have done for a long time," says Bill Moore, water quality specialist with the Washington state Department of Ecology, which is requiring the ban. "It's not something we should be doing any longer."
Some residents defiant
He says the soapy runoff is toxic to salmon and other fish and that small metal particles that wash off cars, such as brake dust, is harmful, too.
FIND MORE STORIES IN: Seattle | Oregon | Portland | Vancouver | Pacific Northwest | Mark | Dave | Christine Gregoire | King County | Columbia River | Clean Water Act | Toyota Highlander | Department of Ecology | Ecology Department | Bill Moore | Ecology Director Jay Manning
Unlike public sanitary sewer systems that clean wastes from water, storm drain systems in most communities empty straight into streams and eventually rivers and oceans.
"Clearly you cannot dump your bucket of wash water, or as you are hosing down your car, you're not supposed to allow that into a storm drain," says Kim Schmanke, spokeswoman for the department.
Mark Muhlhauser, 41, who washes his Toyota Highlander nearly every weekend outside his Vancouver, Wash., home, has a simple message for regulators: Come get him.
"I will wash it this weekend," he said defiantly. "It's just totally crazy. I don't think anybody's going to follow it. Everybody I've talked to, they're still planning on washing their cars."
He gets sympathy from Brian Carlson, public works director for Vancouver, a city of 160,000 people just across the Columbia River from Portland, Ore. He says the city is being ordered by state Ecology Department officials to pass an ordinance banning carwash runoff by next year, but that neither he nor other city officials intend to do so.
"We don't think it's realistic," Carlson says.
City ordinances specifically allow home car washing and its runoff into storm drains, he said. City officials support an education campaign that urges people to "be sensitive and be careful" when washing a vehicle.
"But an outright ban that puts something on the books that's unrealistic to enforce just doesn't make any sense," Carlson says.
"And we would not enforce it," he says. "We're not going to go around ticketing people for car washing."
That's not the case in King County, home to the state's biggest city, Seattle.
Curt Crawford, manager of the storm water services section for the county, says the county is writing a proposed ordinance now to ban home car washing if the runoff goes into storm drains. He expects it to pass this fall and says it has local support.
"We just don't want soapy wash water going out into streams (to) kill fish," he says.
Washington state environmental officials insist they aren't banning home car washing — just the runoff into storm drains, Moore and Schmanke say. They say residents will still be able to wash cars on lawns or gravel driveways where water will soak in the ground. Residents can wash on pavement if they install barriers to prevent wash water from going into storm sewers.
Those aren't workable alternatives, some say. Dave Anderson, half of the Mark and Dave radio team on KEX radio in Portland.
"I don't put in an effort to make my driveway nice, and that's where I'm going to wash my car," Anderson says.
Moore and Schmanke say the state's Department of Ecology is requiring the ordinances as a condition for issuing water runoff permits to cities and counties. Moore says it is acting under authority of the federal Clean Water Act and does expect local governments to enforce it.
"If folks fail to comply, the Department of Ecology has a number of tools we can use," he says. "We can issue orders, notice of violations, and, if necessary, penalties to local governments that fail to issue ordinances."
But officials of the U.S. Environmental Protection Agency say federal law does not require that Washington or any other state take such a step.
Federal vs. state laws
Misha Vakoc, storm water permit coordinator for the Pacific Northwest region, said residential carwash runoff is allowed in storm drain systems under federal law but that states are permitted to go beyond the standard.
Karina Shagren, spokeswoman for Washington Gov. Chris Gregoire, responded to questions about the prohibition by saying the governor has spoken with state Ecology Director Jay Manning and that his department will "fix the problem in a way that will still allow people to wash their cars while still protecting our waters."
A day later, Manning issued a statement saying, "It has recently become apparent that there is significant confusion" about residential car washing. He repeated alternatives — washing over grass or diverting wash water away from drains. "Another option is to use a commercial carwash," the statement said.
Mark Thorsby, executive director of the International Carwash Association, the industry trade group of 25,000 commercial carwashes, said it supports the prohibition. Its members install sometimes expensive equipment to minimize water use and prevent pollution, he said. Because of that, commercial carwashes wouldn't be affected by the proposal.
"A ban on home carwashing would benefit an industry like mine, but that's not a motivation behind what regulators are doing," he said.
Muhlhauser has a different view.
"It's just infringement on your rights to live a normal life," he says.
http://www.usatoday.com/news/nation/2008-09-28-car-wash_N.htm
yes, a copy of statement from the TA was posted showing an OS close to 2 billion.
Personally, I think 4 am PR's are most effective. If you issue in the evening, then all the excitement has evaporated by 9:30 am, if you issue too late (after 6am), then a lot will have gone to work already and won't see it.
Those that think that this is the bottom for the stock, are nipping at the banana oil IMO
Nowhere in the filing did it say that the company exercised that right and of course they couldn't have. I'm sure if they did, they would have issued a big fat PR telling us how they repurchased shares don't you think? We already get about 1 PR per day what's one more?
Oh please show that in the filings, I sure can't find it.
Other companies keep loads of cash in the bank, if I mentioned any, this post would be deleted. The company has a huge negative cash flow per the last filing, consequently they have not a dime to invest in themselves. In fact, the negative cash flow far exceeds net income. All the money to pay for advertisements so far has been coming from the sale of stock. That's why I love to see the 10k and find out how they got cash in the last quarter. But you know what? We probably will see more of the same: massive dilution to fund their ad campaign.
I would love to short the stock, but the margin requirements for penny stocks are way too high to make it worth my while. However, if they manage to make it to the Nasdaq as they indicate, I will be the first in line
I never claimed that the filings don't matter. In fact, the filings matter more than any PR. Problem with the 10Q is, it is omitting important information! For example it does not mention at all what RME got in return for giving back 500+ million shares to the company. Obviously they couldn't have gotten cash because the company had (almost) none.
nope, that would have to be in the filings. The only way they have access to that kind of cash is by selling shares.
"Buyback program is a shot fired off the bow that ownership is not going to let the stock price tank."
So far they issued a lot more shares than they ever bought. From the last 10 Q:
Issuance of common stock for consulting fees, loan payments, advertising, and other
$9,722,405
"They have the war chest to back it up."
Oh really? FRom the last 10Q:
CASH AND CASH EQUIVALENTS, END OF PERIOD
$ 34,570
Chart:
I also thought that .02 was too risky and sold my shares at .02, then it ran to .0028.
I think that in 2 1/2 - 4 years most peoples entire WNBD holdings will be around $10.
do you have a link?
And illegal, promoting your own stock is illegal.
Reducing the A/S can be done just as easily as raising the A/S provided the OS is lower than the reduced A/S. Why in the world would the company issue a PR that they will reduce the A/S if they don't do it? If they "planned" to do it next year, why issue a PR now? Now if they had reduced the A/S first and then issued a PR about it, even I would have been excited. Someone please call the SOS and make sure they reduced the A/S to 900 million.
If they haven't reduced the A/S to 900 million by today, they will never do it! Another blue sky, forward looking but far from reality PR.
That depends on how honest SPNG is. I once held stock in a company that claimed $100 million in orders (and sales). Much later we discovered that they ordered product from themselves through a fictitious company. Obviously, they never made a dime of profit (in the long run) as product and money just went in circles. All that revenue created a lot of excitement for the shareholders though and the company up-listed to a higher exchange. Sounds familiar? When I see 10Q's that show a net income yet a huge decrease in receivables and a negative cash flow, compensated by issuance of big amounts of common stock, I get suspicious. SPNG has all the symptoms, but giving them the benefit of a doubt, I will wait for the 10k as they announced positive cash flow in one of their PR's many moons ago. Until then, I certainly will stay away from this stock.
You are right there can be no sales without orders, but there certainly can be orders without sales. The company talks about orders only, why don't they give us sales numbers, gross margins and net income? It's not like that they are shy about issuing numbers in particular or PR's in general.
So no, sales not equal orders...
Hi B -
Please tell your fellow investors on the board: I want to talk with them on
the phone *about their story*. They don't need to tell the whole story,
just why they invested in SV, and what they're upset about. It's not that
big a deal. I encourage you to call me, or give me your number, and please
pass that on to the group. It's impossible to tell this story without
hearing from investors themselves.
Thanks
David
David Sommerstein
Reporter/Asst. News Director
North Country Public Radio
St. Lawrence University
Canton, NY 13617
T: (315)229-5356
F: (315)229-5373
C: (315)323-1222
david@ncpr.org
www.ncpr.org
No, the PR says nothing about sales, it only talks about orders - two completely different animals.
There are two things you can count on with SPNG. Everyday a PR to boost the price then selling into to market.
You forgot Asia Quest Ventures:
As of March 9, 2009, Asia Quest Ventures, Inc. operates as a subsidiary of Green Bridge Industries, Inc.
Key developments for Asia Quest Ventures, Inc.
Asia Quest Ventures Inc. Announces Management Changes ; Announces Change in Address
03/23/2009
Asia Quest Ventures Inc. announced that the William Tay resigned as a member of the company's Board of Directors on March 10, 2009, subject to compliance with section 14(f) and regulation 14f-1 of the Securities Exchange Act of 1934. Mr. Tay also resigned as the company's President, Chief Executive Officer, Secretary and Treasurer effective March 10, 2009. The resignation was not the result of any disagreement with the company on any matter relating to the company's operations, policies or practices. William White was appointed to replace Mr. Tay on the Board of Directors, subject to compliance with section 14(f) and regulation 14f-1 of the Securities Exchange Act of 1934. Further, Mr. White was appointed Chief Executive Officer, President, Secretary and Treasurer of the company effective March 10, 2009. William White, Chairman, President, Chief Executive Officer, Secretary and Treasurer Mr. White has over 20 years of management and sales experience. The position he held with his last company, Enzyme Consultants, was Vice President of Sales and Operations. Before that he was a Regional Manager for Beverage Sales for Clark Food Service. The company changed its address to c/o William White, 9210 MacArthur Road, Saranac, MI 48881.
Company Overview
Asia Quest Ventures, Inc. does not have significant operations. It intends to serve as a vehicle to effect an asset acquisition, merger, exchange of capital stock, or other business combination with a domestic or foreign business. The company was founded in 2008 and is based in Saranac, Michigan. As of March 9, 2009, Asia Quest Ventures, Inc. operates as a subsidiary of Green Bridge Industries, Inc.
9210 MacArthur Road
Saranac, MI 48881
United States
Founded in 2008
http://investing.businessweek.com/research/stocks/private/snapshot.asp?privcapId=48719526