Actually (except for someone recently) I don't really recall anyone questioning that the product existed...in the real form, although very "salesman puffed".
In fact, as I said and provided links to many times, (only some of which were deleted or had like 20 spams under weird aliases made to it - agreeably almost all of these were on another popular board. There are about 50 manufacturers of something along he line now still. It is a common product with whatever alterations to make it unique - available by contract or one of many products a company may offer. Try a search along the line of "specialty sponge" maybe "sponge novelties" or just go right for it "soap infused...", something along that line. Hundreds, if not thousands of hits...as always you have to weed through some irrelevant, and some may lead you to other information. Like there have been at least 50 companies that have gone out of business in the past decade or so, with this type of product as at least one of their offerings. And then you'll find some that still exist, and will make it or sell it to you as much as you want.
In fact, I remember a bunch of posts where the listings of other products - like Brillo (who makes it not only in steel wool, but many other fabrics (and think of all the off name ones), all the sponge "eraser" type products many by very popular names, that are also in business papers where the Cos say they may discontinue that product line because the demand for it isn't good.
The advancement to mankind this one promoted it was simply was never true really. Nor that prime advertising pitch (that so many investors seemed to buy into and repeat all the time) about how it solved the eternal problem of the complexity to cleaning needing so many things. And this did it all in one. I always thought - uh...WATER was needed! Isn't H20 all you need to get the mud off the things they claimed SPNG was all you needed? Oops. A sponge, even a great one that you went through all the trouble and cost (and apparently by the ads, complexity) of putting soap on won't do much without water will they? Gee and water alone would actually work better than all those combinations without it. But the product was real.
But if your selling stock in a company, and gearing it to investors who think that the company having a product means it makes for a worthy investment, it is as good as any I guess! I absolutely do I remember the many posts - even published articles wondering how anyone could think that something existing and advertised, and maybe then taking the place on the shelf that may have been vacated by something that also existed (may have been advertised), but failed and even maybe the entire company making it did, was able to be made as a reason the stock of the company making the "new" one was some type of opportunity.
Things like profit margins(and if the numbers SPNG provided were real, it showed it cost more to make than they were claiming to be selling it for - by a bunch). Quality for investment focuses more on the business acumen, how product lines fit with each other, acceptablity/recogniton/trust of customers and markets, financial support/lines of credit/cost of funds, facilities and ability to expand, corporate operational and other structures, etc., etc,
Now what was your reason for buying the stock? And your reason for buying the product?
Yes the company is dissolving using the bankruptcy process. In fact, it has been legally declared "administratively bankrupt", meaning it can't even be expected to pay the fee's for its' own bankruptcy! The actual existence of the product (other than the left over, spoiled, inventory that, even ignoring the debts against it for storage, etc has no one willing to even pay just the shipping costs to get it. That being more than what the item can be sold for!) BUT NO ONE, EVEN ANY OF THOSE ALREADY CONFESSING TO ANY NUMBER OF CRIMINAL ACTS HAS BEEN SENT TO JAIL.
Your conclusions on that are in line with your previous ones about how and why this stock was certain to be a good investment.
But continue calling others crazy. Well reasoned.
