Replies to post #345943 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[MorningLightMountain]

I'm looking for $125 per share.

I think that's a little cheap, too. It assumes FY10 earnings of $42m, divided up into 5m shares ($8.40 EPS), with a PE of only 15.

When do I hope to sell? Well, if we:

a. get the 10k results, and
b. proceed with the reverse split, and
c. announce a buyout, and
d. trigger a squeeze

I would be willing to part with my shares today, on a pre-split basis.

Thanks in advance, Steve and Mike.

[Teflon2Insults]

Hard to tell as he flip flops on things more than any government person ever seen - but I think his position has been it was his advanced insight that made it so he always understood what SPNG was (a stock fraud, fronted by an essentially fake company with an advertising department), just he wouldn't get caught holding an empty bag.


I guess that's why he says he bought low and sold higher several times.
I guess, as he is an expert (and hence can't be expected to make a wrong investment choice), he felt that even after the publicity at all sites, the SEC actions, the stops and notices, etc, there was more time (although it would have to be soon) to go short and collect that way too.

His ace in the hole.....his years of high level enforcement actions on things like this he knew he could use to get reimbursement from others for making several good ones followed by one bad investment decision.

[shajandr]

"US Government as a Special Investigator"

Very basic DD shows and would have shown in 2007 or before that both the CEO (Metter) and the CFO (Moskowitz) both had long histories of defunct companies, SEC problems, broker license problems, tax fraud issues, securities fraud claims, and a history of making false submissions to a court (Moskowitz's made-up letters from Flo Weinberg and another person - that the NY Tax Court rejected as fake and stated so in the court opinion rejecting Moskowitz's claimed defenses for tax fraud.

Of course ANYONE doing basic DD would have uncovered those facts from a very simple internet search and never invested a dime in the very OBVIOUS fraud that SPNG was.