Replies to post #99508 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[kolchakil0]

I don't put alot of faith in the claims of a large naked short position here. I guess anything is possible though. With your example of USXP, the company had billions of authorized and outstanding shares. It would have been easier for naked shorting to exist there because the size of the float was in the billions and when the stock traded under a penny there were days a billion shares were sold.

I am sure there are many people that have accumulated here under a penny. Also, many traders are probably playing this stock. The sheer volume could be from people buying and selling every day to accumulate. I don't think the company is adding to the float necesarilly, but I am eagerly awaiting the 10K which should put all opinions of outstanding to rest.

I am looking to make a profit trading this stock right now. The fundamentals as well as the technicals look fantastic. I would say this chart is in a golden trend right now. I can't really see anything derailing it.

But, look to the 10K for your answers. Don't only rely on message boards for your DD.