Spongetech Delivery Systems, Inc. (fka SPNGQ)

[spongeboy]

Ideas on R/S - Last year they were a nothing stock with a car sponge - they did some infomercials and baseball ads and grew 888% - I have been here since June after selling all at .266 on Black Friday I bought and sold 36 more times for a .118 average holding 1.6M shares. They tried to get an exception to get on Nasdaq by meeting 3 of the 4 requirements - I guess we didn't get it because we are still here. They hired Deloitte & Touche mega Wall Street Powerhouse Consultants and they say, "guys....you did your best....but....if you want to go to Nasdaq Now...not a year from now.....If you want to take full advantage of all of your leverage in baseball moving into the playoff season ...Now...instead of next year...if you want to be on Nasdaq when NFL Football season starts ...Now...instead of next year...you split.... 100/1..Atomic style..nuke the whole planet from orbit..the only way to be sure..." The 10k will show $11M Annual earnings and the 10Q should show $17M Quarter new Fiscal.

The Fugu thing has me baffled. What did we buy ? How do we get that money back? Almost enough of a red flag to run..But 3 things tell me we are okay. WE HAVE NO DEBT ON THE BALANCE SHEET!!! If this was a scam the company would owe millions. WE HAVE POSITIVE EARNINGS. Very unusual on OTC - Management could have blown it all on buildings and travel and such. WE HAVE NO INSIDERS TRADING AND THEY TAKE NO SALARY (according to filings).
It smells bad and sweet at the same time. I can't understand what they are doing except if Nasdaq was the goal..........

The 100/1 is the only way to be sure.