Spongetech Delivery Systems, Inc. (fka SPNGQ)

[hurricaneman]

Could drop a lot further once they are covered...

SpongeTech Delivery Systems, Inc. (SPNG) Squeeze Trigger Price is $0.09.Approximately 972 Million Shares Shorted Since December 2006 According to Buyins.net Research Report
Mon Aug 31, 2009 9:32am EDT Email | Print | Share | Reprints | Single Page [-] Text [+]
NEW YORK--(Business Wire)--
SpongeTech Delivery Systems, Inc. "The Smarter Sponge (OTCBB: SPNG) announced
today that BUYINS.NET, www.buyins.net, is initiating coverage of SpongeTech
Delivery Systems after releasing the latest short sale data to August 2009. From
December 2006 to August 2009 approximately 12.6 billion total aggregate shares
of SPNG have traded for a total dollar value of approximately $1.13 billion. The
total aggregate number of shares shorted in this time period is approximately
972 million shares. The SPNG SqueezeTrigger price of $0.09 is the volume
weighted average short price of all short selling in SPNG. A series of short
squeezes has begun as shares of SPNG have jumped from $0.006 to $0.22 and 99% of
all shares shorted in SPNG are now out-of-the-money. To access SqueezeTrigger
Prices ahead of potential short squeezes beginning, visit
http://www.buyins.net.

Month Total Vol. Short Vol. Avg. Price Short $ Value
12/29/2006 150,000 11,550 0.2075 $2,397
1/31/2007 179,000 13,783 0.1350 $1,861
2/28/2007 535,700 41,249 0.1900 $7,837
3/30/2007 1,496,000 115,192 0.1850 $21,311
4/30/2007 4,695,154 361,527 0.1967 $71,112
5/31/2007 7,144,891 550,157 0.1950 $107,281
6/29/2007 5,250,137 404,261 0.1425 $57,607
7/31/2007 7,891,632 607,656 0.0950 $57,727
8/31/2007 6,423,566 494,615 0.0788 $38,976
9/28/2007 6,086,639 468,671 0.0902 $42,274
10/31/2007 10,565,011 813,506 0.0738 $60,037
11/30/2007 21,375,974 1,645,950 0.0525 $86,412
12/31/2007 46,577,400 3,586,460 0.0403 $144,534
1/31/2008 49,644,868 3,822,655 0.0248 $94,802
2/29/2008 90,164,328 6,942,653 0.0302 $209,668
3/31/2008 136,771,952 10,531,440 0.0273 $287,508
4/30/2008 156,957,184 12,085,703 0.0309 $373,448
5/30/2008 184,506,944 14,207,035 0.0434 $616,585
6/30/2008 143,385,424 11,040,678 0.0487 $537,681
7/31/2008 111,369,960 8,575,487 0.0439 $376,464
8/29/2008 339,945,472 26,175,801 0.0384 $1,005,151
9/30/2008 434,852,544 33,483,646 0.0338 $1,131,747
10/31/2008 418,655,520 32,236,475 0.0280 $902,621
11/28/2008 226,767,232 17,461,077 0.0273 $476,687
12/31/2008 338,505,440 26,064,919 0.0264 $688,114
1/30/2009 438,992,096 33,802,391 0.0194 $655,766
2/27/2009 423,565,856 32,614,571 0.0144 $469,650
3/31/2009 661,219,200 50,913,878 0.0116 $590,601
4/30/2009 1,227,771,776 94,538,427 0.0185 $1,748,961
5/29/2009 1,590,875,520 122,497,415 0.0320 $3,919,917
6/30/2009 2,976,228,372 229,169,584 0.1373 $31,464,983
7/31/2009 1,719,142,528 132,373,975 0.1334 $30,571,222
8/31/2009 840,376,128 64,708,962 0.1633 $10,566,973
Total 12,628,069,448 972,361,347 $0.0898 $87,387,917


*short volume is approximated using a proprietary algorithm.
**average short price is calculated using a volume weighted average short price.
***short volume is the total short trade volume and does not account for covers.


Click here to view chart: http://www.buyins.com/images/spngstr8-26-09.jpg

Market Maker Friction Factor is shown in the chart below:

Date Change % Buy Vol Buy% Sell Vol Sell% Net Vol Friction
8/27/2009 0.0017 0.89 64,004,552 49.96 61,728,494 48.18 2,276,058 13,388,576
8/26/2009 0.0253 15.19 98,227,965 52.16 88,085,350 46.77 10,142,615 4,008,939
8/25/2009 0.0127 8.77 89,010,285 55.72 72,311,732 45.27 16,698,553 13,148,467
8/24/2009 0.0085 6.32 31,984,993 57.6 23,340,786 42.03 8,644,207 10,169,655
8/6/2009 -0.002 -1.37 35,536,303 46.23 41,065,408 53.43 -5,529,105 -27,645,525
8/5/2009 -0.0059 -3.84 27,933,395 49.92 27,740,564 49.57 192,831 bearish bias
8/4/2009 -0.002 -1.26 16,471,046 43.57 21,228,273 56.16 -4,757,227 -23,786,135
8/3/2009 0.007 4.61 25,443,789 46.38 29,077,807 53.01 -3,634,018 bullish bias
7/31/2009 0.0096 6.79 25,415,915 48.07 27,408,610 51.84 -1,992,695 bullish bias
7/30/2009 0.0042 3.08 13,186,865 42.67 17,663,265 57.15 -4,476,400 bullish bias


Click here to view chart: http://www.buyins.com/images/spngff8-28-09.jpg

Analysis of the Friction Factor chart above shows that in the trading days
preceding this report that market makers have been making a positively biased
market (70% bullish and 30% bearish bias to trading) in shares of SPNG. The
Friction Factor displays how many more shares of buying than selling are
required to move SPNG higher by one cent or how many more shares of selling than
buying moves SPNG lower by 1 cent.

The chart below shows the broker dealers acting as market makers in shares of
SPNG.

Rank Market Maker 2009 Volume % of Volume
1 Knight Equity Markets, L.P. 3,872,172,703 42
2 E*Trade Capital Markets Llc 1,221,151,096 13
3 UBS Securities LLC 1,176,368,331 13
4 Automated Trading Desk 402,003,438 4
5 Natexis Bleichroeder Inc. 383,986,206 4
6 Archipelago Trading Services 235,191,875 2
7 The Vertical Trading Group 222,139,136 2
8 Sterne, Agee & Leach, Inc. 197,670,966 2
9 Hudson Securities, Inc. 182,898,316 2
10 Pershing LLC 176,764,366 1
11 Burt Martin Arnold Securities 135,330,580 1
12 Finance 500, Inc. 130,290,819 1
13 vFinance Investments, Inc. 104,622,665 1
14 Domestic Securities, Inc. 74,284,152 <1
15 Martinez Ayme Securities 59,545,394 <1
16 BTIG, LLC 58,998,351 <1
17 Gunnallen Financial, Inc 50,354,106 <1
18 Stockcross Financial Services 47,037,686 <1
19 Vandham Securities 41,939,843 <1
20 Noble International Invest. 40,623,396 <1
21 Maxim Group LLC 35,405,133 <1
22 Puma Capital, Llc 30,469,560 <1
23 Murphy and Durieu 19,800,397 <1
24 Lampost Capital, L.C. 18,067,637 <1
25 Biltmore International Corpor 13,818,464 <1
26 Lighthouse Financial Group, L 13,272,957 <1
27 LaBranche Financial Services 12,748,477 <1
28 Collins Stewart LLC 12,546,564 <1
29 Wilson-Davis & Co. Inc. 7,595,183 <1
30 Pali Capital 5,735,389 <1
31 Jesup & Lamont Securities Cor 5,102,866 <1
33 MERCATOR ASSOCIATES, LLC 3,840,000 <1
34 CAPITAL PATH SECURITIES, LLC 2,750,000 <1


Click here to view chart: http://www.buyins.com/images/spngmm8-26-09.jpg

SpongeTech has been on the OTCBB Threshold Security List ("naked short list") a
total of 85 trading days since January 1, 2005 and is presently on the list from
July 24, 2009 to through August 25th, a total of 23 consecutive trading days.
Short sellers and the broker dealers accepting their short sale orders are
out-of-compliance with the new Reg SHO buy-in requirement at the time this
report was generated. In late October 2008 the SEC updated Regulation SHO
requiring that all short sellers must locate, borrow and deliver any shares they
have shorted, no exceptions, by T+3 settlement date. If not, a buy-in must be
forced by the broker dealer that the short seller transacted through by the
opening of the market on T+4. Since a company first appears on the naked short
list when short sellers have been failing to deliver for 5 consecutive trading
days, SPNG should theoretically never be on the naked short list again.
BUYINS.NET will monitor the OTCBB naked short list daily and issue an alert and
notify the SEC and FINRA should short sellers fail to deliver and SPNG continues
on the exchange`s Threshold Security List.

The chart below shows the daily failures to deliver for the 10 trading days
ending July 31, 2009.


DATE SYMBOL QUANTITY (FAILS) DESCRIPTION PRICE
20090720 SPNG 14,725,754 SpongeTech Delivery Systems, I $0.10
20090721 SPNG 9,471,912 SpongeTech Delivery Systems, I $0.12
20090722 SPNG 8,088,135 SpongeTech Delivery Systems, I $0.11
20090723 SPNG 5,200,621 SpongeTech Delivery Systems, I $0.12
20090724 SPNG 4,272,930 SpongeTech Delivery Systems, I $0.13
20090727 SPNG 356 SpongeTech Delivery Systems, I $0.13
20090728 SPNG 322,000 SpongeTech Delivery Systems, I $0.16
20090729 SPNG 140,175 SpongeTech Delivery Systems, I $0.15
20090730 SPNG 6,666,574 SpongeTech Delivery Systems, I $0.14
20090731 SPNG 16,065,416 SpongeTech Delivery Systems, I $0.14


Click here to view above chart: http://www.buyins.com/images/spngftd8-26-09.jpg

Click here for complete data file:
http://www.buyins.com/images/spngftd8-26-09.xls

Click here to view entire chart:
http://www.buyins.com/images/spngftdchart8-26-09.jpg

About SpongeTech Delivery Systems, Inc.

SpongeTech Delivery Systems is a company which designs, produces, and markets
unique lines of reusable cleaning products for Car Care, Child Care, Home Care
and Pet Care usages. These sponge-like products utilize SpongeTech's
proprietary, patent (and patent-pending) technologies and other technologies
involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other
ingredients. The Company's sponge-like products are pre-loaded with specially
formulated ingredients such as soap, conditioner and/or wax that are released
when the sponge is soaked and applied to a surface with minimal pressure.
SpongeTech is currently exploring additional applications for its technology in
the health, beauty, and medical markets. SpongeTech Delivery Systems, Inc.
intends to globally brand its Company as "The Smarter Sponge". The company was
founded in 1999 and is based in New York, New York.