Replies to post #195577 on Spongetech Delivery Systems Inc (fka SPNGQ)

[spongeboy]

Get your calculator - repost with facts


$4M for getFugu we must of had alot of money left over.

Official O/S is 722.86M

FACT: As of last SEC filing % Held by Insiders1: 50.32% 1 = Data provided by Thomson; 2 = Data provided by EDGAR Online;

364.1M held by insiders and institutions as follows.

AMI Investment Management, Inc... 40.0K
Fisher Investments 90.0K
Howe Barnes Capital Management 162.0K
Janney Montgomery Scott LLC 40.0 K
Lazauskas (Frank) 10.8 M
Levin (Joel L) 41.0 M
Metter (Michael) 7.7 M
Moskowitz (Steven) 6.1 M
RM Enterprises International, 257.0M???? (some say 480)
Signature Management, LLC 41.0 M
Others 24M

SO FACT 722.86-366-24 leaves us 332M Float)

FACT The float is 332M CEO/COO bought 18M company bought 150M

SO FACT 332M-18M-150M = 164M remaining

These numbers are correct

NOW I speculate:
At an average price of .122 ALL of the remaining 164M shares could have been purchased by the company for $20M - Yesterday we gave $4M to getFUGU without any explanation of what or why? I can only assume that the announced buyback was complete and for an additional $20M the company BOUGHT ALL OF THE SHARES before the FUGU deal!!
Think about what this would do for us. Moskowitz goes to the DTCC, SEC, and FINRA, and says,"we are trying to split our stock 100-1 and WE are holding all 722.86M Shares that exist. AYME, NITE, ETMM, SCOTTrade and others say that they have 930M more shares, please explain this to us. The rule allowing naked shorts is called "the Madoff Exception" google it. Think of all the free press we would get as the company that exposed the wall Street fraud of Naked Shorting!!

[no_BS_plz]

Yes, one should never "fall in love" with a stock. One should either trade the stock due to its volatility and volume...or love the fundamental aspects of a company and its chances to grow the price of the stock you hold.

I have chosen to hold this one, not because I love the stock, but because, as an example, any company I analyze at work needs a Quick Ratio of 1.0 to qualify with a solid liquidity level and Debt-to-Equity of no more than 3:1. Any company who achieves these two ratios has what we consider a healthy balance sheet.

The Quick Ratio for SPNG at the Feb 28 filing for Q3 was 11.14, absolutely unheard of, and THERE WAS 0 DEBT!! I have analyzed thousands of balance sheets in my career, and never seen a stronger one.

I have found it is much safer to "fall in love" with a strong balance sheet than a stock.

[Chili Palmer]

How about just lift the gag on the T/A, any way once the filings come out they will show where SPNG is at and how true or not true management has been. The R/S stinks but if it gets them where they want to go and they turn the printing press off it isn't that bad.