I dont know what is going on around here, SPNGE down 8%...STILL NO 10-K...Management surely totally destroys a golden opportunity for shareholders and themselves alike....
Headlines across business media today are screaming, "MERGER MONDAY" J&J, XEROX, and many other corporate players buying up small cap companies left and right. Many analysts say going forward, corporate balance sheets have record levels of cash, and Merger & Acquisition activities are at all time highs...This is truly sad that Michael Metter and Steven Moskowtiz could be so ignorant as to how to run a legitimate company. WE ALL REALIZE HOW EASY IT WOULD HAVE BEEN FOR THESE GUYS TO JUST RUN A LEGITIMATE BUSINESS, NOTHING SPECIAL, JUST SELL SOME SPONGES, BE BOUGHT OUT, BUT INSTEAD THEY MANAGED TO ATTRACT AN SEC INVESTIGATION. Its real obvious these guys are in over their heads, just through the fact they they dont even really have any idea what to do now. Their responses up to this point have been sup=par and sketchy...and the way they released PRs during market hours, then released information about the investigation in 2 lines of an 8-K issued on a friday afternoon....its quite easy to see when things dont add up to a whole pie. MOSKOWITZ DEF BEEN EATING YOUR PIE BEHIND CLOSED DOORS.
We shall see how this plays out, but at this point, its becoming a joke. Markets screaming higher around the globe. Sustained economic recovery on the way, SPNGE gets a SEC investigation.
I really hate management what they have done to people who put confident belief in them...I cannot even imagine what a nightamre it would have been to be a shareholder this weekend.
You people really need to statnd up to managemet, but i guess theres nothing to do when these fools under investigation have all the voting power. Good luck guys, DAQ-100 is treating me nice today. screw the crap a I put up with for SPNGE.
AI
