Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Mingy]

SIX DOLLARS = FAIR VALUE!!!, Math....

Excellent pervious post BTW Mingy, the Naked Shorts very much are the reason we are under attack on every front.

25 Million in sales a month
x
12 months
x
.20 profit margin
x
20 PE

= 1.2 billion fair value market cap.

Divided by 206 million outstanding shares (see link below)

= Fair Value $6. Risk 3 cents, reward $6 dollars if what the longs all along have been saying, massive naked shorting in spongetch.

No wonder some smart money is looking for $18 on a short squeeze.

206M outstanding share case breakdown.
http://spngdd.com/2010/01/19/estimate-outstanding-shares-float/

Thank you, thank you very much.

MINGY

Yeah, the naked short position, what was the percentage increase in the total net position, from the week prior?

I’m not talking about legal shorts, I’m talking about illegal naked shorts that do not show up in an official tally. You know, washed trades, using one of the 4 European exchanges spongetech was listed on by the naked shorts, and the market making exemption are the ways the over 1 Billion naked shorts are hidden.

The naked shorting hedge funds have, and will continue to naked short this stock until management files the 10k and blows them apart. They are just buying time by not covering their shorts and taking the loss. The hedge funds meanwhile are paying themselves out bonuses, while they ignore this ticking time bomb, actually adding to the liability.

Remember Tattletell, fair value for this stock is over $3, the current price per share is reflecting the naked short counterfeit shares.

And yes fair value based on Freds Math of outstanding shares of 200 million coupled with 25 Million a month in sales, give us a fair value of well over $3, and that’s on the cheap side. 200 million shares X $3=$600 M market cap. Also, remember there are a couple big boys, that are looking for $18 on the short squeeze.

Freds 200M calculations.
http://spngdd.com/2010/01/19/estimate-outstanding-shares-float/

This stock is not going to be revoked, its a rumor naked shorts are spreading around to create fear.

Good day,

MINGY