Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Jim54]

The short position was embedded a long time ago, when it was a smarter gamble to short SPNG. Nobody except management (and Carpe) had any idea where this company was headed. Heck, even the longs who've been in since spring and summer of 08 have had plenty of doubts.

Some of the way that I feel I admit is gut and intuition. For example, this stock just TRADES like there was a float over 2 billion. And we know and you now know that there CAN'T be a float that high because Delaware says AS is 900M.

I believe in Carpe's argument, too. The one that says the short sellers would be crazy NOT to short a company with SPNG's growing revenues and high volume. It just makes sense! Especially when every other month they're raising the AS giving the shorts a "cover" for selling airshares.

And then, you probably will discount this, but I have been doing an IHUB count which currently amounts to 217 posters and their groups - 270,436,000 shares. Those shares are owned by approximately 1085 individuals and average over 200K per person. If even 1/10 of that average holds for the average of those 72K shareholders, there's your 1.5B airshares.