Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Mingy]

I posted friday about this and it was removed, I'd like to know why too.

The most recent IPO on the nasdaq, OPENTABLE, which according to this wall street journal article, has a 2% profit margin, earned 366k in profit on 16m in revenue for the first quarter. So assume no growth, thats 1.46m in net income this next year. They have a market cap of 633m according to bloomberg. So basically they are trading 433x earnings.

Now if SPNG can continue to do 5m in weekly rev, with a profit margin of 10%, and PE ratio the same as the SP500 of 20,
SPNG=.72 cents.

This does not include any share retirement or spongebob sales.

What if SPNG has a ipo half as good as OPENTABLE, and it trades 200x earnings? SPNG=$7.2.

What about the NSS?

links to the 2 articles,
http://www.bloomberg.com/apps/quote?ticker=open

http://blogs.wsj.com/venturecapital/2009/05/20/opentable-ipo-prices-at-20-better-than-expected/