Stock Tip Of The Year!

[rickyl]

spng.ob

 

[ivyconniver]

Spongetech Deilvery Systems? Looks like a car soap/wax manufacturer in New Jersey. Not too glamorous. Why is this on your radar?

At $0.59 right now

 

[ivyconniver]

pulled this off the bloomberg, if anyone wants to read about this stock. Sounds optomistic, if it's true, but it's a $2M company, the CEO could be full of it...

SpongeTech Delivery Systems Clarifies Sales Order Backlog
2007-10-23 08:30 (New York)

Status and Manufacturing Capabilities



NEW YORK, Oct. 23 /PRNewswire-FirstCall/ -- SpongeTech Delivery Systems,
Inc. (OTC Bulletin Board: SPNG) announced today after receiving investor
inquiries into the status of its sales and order backlog, wishes to clarify
details for its shareholders.

SpongeTech Delivery System's CFO Steven Moskowitz commented, "I think
there are some misconceptions running around out in the investor community
regarding our ability to manufacture and ship SpongeTech products that we want
to clarify and address for our shareholders. First, we currently have more
than a million units of our Car Wash and Wax product in our inventory that are
available to ship immediately to customers. Because of some of the dates that
we publicly released regarding shipping time frames for some of our backlog,
some investors got the impression that we did not have stock or could not ship
until new manufacturing and production was brought online in the future. We
want to correct this misconception. We have inventory and we are shipping our
SpongeTech Car care products every day." Mr. Moskowitz added, "The car wash
product sales cycle is seasonal. The slow season for outdoor car care products
is typically winter, so when we talk about shipping sales backlog in early
2008, it is because clients are starting, at that time, to ramp up inventory
for the spring selling season. Sales for SpongeTech's car care products will
start ramping up in Q1, 2008 for spring sales and then high season sales for
SpongeTech's car care products will then run through Q3 of 2008. So, when we
talk about our $10.7 M sales backlog shipping by September 2008, what that
really means is that we will begin shipping product against those orders as
early as the end of 2007, and will release shipments against those orders
throughout 2008. Nearly all of our current $10.7 M backlog will be shipped by
September 2008."

Mr. Moskowitz continues, "We currently have contract manufacturing
capabilities up and running here, in the U.S., in facilities in New Jersey. We
are also working to ramp up new manufacturing and production facilities in
China which will be online and producing products in early 2008, which, in
addition to our US manufacturing capabilities, will enable us to keep up with
growing sales demands. We are also doing things this year to keep sales
momentum going through the winter season by introducing new free-standing
"Point of Sale" displays for the Christmas Holiday Season. These new retail
POS displays were designed and manufactured exclusively for SpongeTech here in
the USA, and should help the company increase it's holiday sales given that
the company won't need to fight for space on retail store shelves during the
holiday season."

SpongeTech Delivery System's CFO Steven Moskowitz further stated, "We have
received enough investor inquiries recently to understand that from recent
company pr's and our recent 10 QSB filing, that some investors seemed to be
jumping to inaccurate conclusions as it related to our sales backlog and our
product fulfillment capabilities. We wanted to clear things up in this regard
and reassure our shareholders that our sales and order fulfillment are not
being artificially limited due to inadequate manufacturing and production
capabilities. We are working hard to continue to grow our sales and open up
new domestic and international distribution networks and are confident that we
currently have, and will continue to have, adequate manufacturing capabilities
to supply our fast growing sales and distribution network."

For more information please contact Investor Relations at 1-877- SPONGE T
or visit the company website at: www.spongetech.com.


About SpongeTech Delivery Systems

SpongeTech Delivery Systems designs, produces , markets, and distributes
cleaning products for vehicular use utilizing patented technology relating to
sponges containing hydrophilic (liquid absorbing) foam polyurethane matrices.
The Company's sponges are specially configured with an outer contact layer and
an inner matrix, which is loaded with specially formulated soaps and wax that
are released when the sponge is applied to a surface with minimal pressure.
The Company's products are currently designed specifically for vehicular
cleaning use. However, the Company is exploring the possibility of using its
patented technology for the development of sponges for other uses, including
for use with anti-bacterial, bath and kitchen soaps for household uses, as
well as for use as a children's bath foam sponge. Each SpongeTech Delivery
System sponge is fully biodegradable and is designed with their cutting-edge
technology and environmentally friendly.


"Safe Harbor Statement" Under The Private Securities Litigation Reform Act
of 1995: The statements in the press release that relate to the company's
expectations with regard to the future impact on the company's results from
new products in development are forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. The results
anticipated by any or all of these forward-looking statements may not occur.
Additional risks and uncertainties are set forth in the Company's Annual
Report on Form 10-KSB for the year ended December 31, 2005, the Company's
Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006.
The Company undertakes no obligation to publicly release the result of any
revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date hereof, or to reflect the occurrence of
unanticipated events or changes in the Company's plans or expectations.


SOURCE SpongeTech Delivery Systems, Inc.


CONTACT:
SpongeTech Delivery Systems, Inc. Investor Relations, +1-877-776-6438
info@spongetech.com
-0- Oct/23/2007 12:30 GMT

 

[rickyl]

That is .059 cents per share. You should check out their website and do your own DD but this should be an easy double from here. I would suggest buying some to hold long term and buying some to sell at a higher price and hope it goes back down to .05 or lower. I believe it has done this 2 or 3 times already. I personally have sold once already & bought back double yesterday.

Once again, check out the website! Nice video!

 

[ivyconniver]

my bad on the quote, you're right, $0.059

 

[PerfectHigh]

I've been observing this stock for quite a bit. But these past few days the stock prices have been getting lower and lower. Only thing that's keeping it barely stable is the investors buying the stocks at the low prices.

I've bought in at 0.06, 2weeks ago and now waiting for the stock to go back up to sell at 0.09.

Im not caring much about the SpongeTech, Press Release news of the present promises that they are makin...

If the Orders are already in, then what are they waiting for???

If any of the deals go thru the stock price will rise. As of right now it just seems to me that SpongeTech are making nothing but empty promise deals to the investors so that they can raise money to ACTUALLY afford and produce the amount of orders to those they promised.

All I really want to know is... if the stock prices keeps on falling then what will SpongeTech do about it in order to keep the investors from bailing out.

 

[PerfectHigh]

Oh, I happened to came across this after I invested into SPNG stock. Now Im not really to sure what to think...

http://www.hotstocked.com/article/spongetech-otcbb-spng-using-sex-to-peddle-pennystocks-94.html


The company has been making announcements lately that are quite beyond our comprehension. First they announced a television spot that will be viewed by 14 million homes. Then something about being featured in over 900 environmentally friendly magazines. In May, they announcied they received large orders to be shipped later in the year. One order was for $1.5 million and another for $3 million.

What is beyond our comprehension about these announcements is how do they intend to accomplish any of these things when they have no money? According to their latest SEC filing this company has $3,477 (three thousand four hundred seventy seven) dollars in the bank. That doesn't even pay a month's rent in a manhattan office.

They originally had incorporated under the name Romantic Scents, Inc. They have had several name changes and business model changes as well. In their 8 years of operations they have never made so much as a dime in profits, and have accumulated a deficit of approximately 3.4 million dollars.

Yet in spite of their operating inefficiencies management finds it perfectly appropriate to pay themselves salaries that exceed the entire revenues of the company. During their Fiscal year 2005, the company's entire revenue was $1,051 (one thousand fifty one)/ Yet, the three top directors recieved salaries of over $490,000 each.

What is even more odd is that their salaries were in Common Stock that they valued at $0.15. When you receive salary in stock you have a tax liability that you must pay. We estimate the officers will owe $250,000 each yet have not received any actual money as compensation. (I will not be submitting my resume to work as an exec at this company.)

The company has 37 million shares outstanding which puts the total valuation market valuation with the stock at $0.19 about 7.5 million. This valuation is not too high. But given their historical lack of a business, current lack of assets, and lack of taste with their latest video it still looks high to us.
<table border="0"><caption>
</caption></table>They have not announced any new financings. Quite frankly, we cannot imagine how a company with $297,000 in currently due liabilities and $3,000 in the bank can possibly finance these alleged large orders.

Further, if they did receive orders of the magnitude that they claimed in their recent press releases, that is a material event. An event as such requires a form 8-k to be filed with SEC. As yet the company has not done so.

As much as we enjoyed the video and hot press releases coming out of this company we cannot give any investor who wants to buy this stock at $0.19 our blessing.

 

[rickyl]

Spongetech Delivery Systems, Inc. (OTC BB:SPNG.OB - News) President & CEO Michael Metter announced the company had signed a non-disclosure agreement with a major consumer products company.

<TABLE cellSpacing=1 cellPadding=2 width="100%" border=0><TBODY><TR><TD>View: Annual Data | Quarterly Data</TD><TD align=right><SMALL>All numbers in thousands</SMALL></TD></TR></TBODY></TABLE><TABLE class=yfnc_tabledata1 cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD><TABLE cellSpacing=0 cellPadding=2 width="100%" border=0><TBODY><TR><TD class=yfnc_modtitle1 colSpan=2><SMALL>PERIOD ENDING</SMALL></TD><TD class=yfnc_modtitle1 align=right>31-Aug-07</TD><TD class=yfnc_modtitle1 align=right>31-May-07</TD><TD class=yfnc_modtitle1 align=right>28-Feb-07</TD></TR><TR><TD colSpan=2>Total Revenue</TD><TD align=right>64 </TD><TD align=right>29 </TD><TD align=right>14 </TD></TR><TR><TD colSpan=2>Cost of Revenue</TD><TD align=right>14 </TD><TD align=right>33 </TD><TD align=right>2 </TD></TR><TR><TD bgColor=#333333 colSpan=5 height=1><SPACER width="5" height="1" type="block" /></TD></TR><TR><TD colSpan=2>Gross Profit</TD><TD align=right>51 </TD><TD align=right>(3)</TD><TD align=right>13 </TD></TR><TR><TD colSpan=5 height=10><SPACER width="5" height="10" type="block" /></TD></TR><TR><TD><SPACER width="1" height="1" type="block" /></TD><TD class=yfnc_d colSpan=4>Operating Expenses</TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Research Development</TD><TD align=right>- </TD><TD align=right>- </TD><TD align=right>- </TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Selling General and Administrative</TD><TD align=right>57 </TD><TD align=right>188 </TD><TD align=right>550 </TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Non Recurring</TD><TD align=right>- </TD><TD align=right>- </TD><TD align=right>- </TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Others</TD><TD align=right>4 </TD><TD align=right>1 </TD><TD align=right>(2)</TD></TR><TR><TD><SPACER width="1" height="1" type="block" /></TD><TD class=yfnc_d colSpan=5 height=1><SPACER width="5" height="1" type="block" /></TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Total Operating Expenses</TD><TD align=right>- </TD><TD align=right>- </TD><TD align=right>- </TD></TR><TR><TD colSpan=5 height=10><SPACER width="5" height="10" type="block" /></TD></TR><TR><TD bgColor=#333333 colSpan=5 height=1><SPACER width="5" height="1" type="block" /></TD></TR><TR><TD colSpan=2>Operating Income or Loss</TD><TD align=right>(10)</TD><TD align=right>(193)</TD><TD align=right>(535)</TD></TR><TR><TD colSpan=5 height=10><SPACER width="5" height="10" type="block" /></TD></TR><TR><TD><SPACER width="1" height="1" type="block" /></TD><TD class=yfnc_d colSpan=4>Income from Continuing Operations</TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Total Other Income/Expenses Net</TD><TD align=right>- </TD><TD align=right>- </TD><TD align=right>- </TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Earnings Before Interest And Taxes</TD><TD align=right>(10)</TD><TD align=right>(193)</TD><TD align=right>(535)</TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Interest Expense</TD><TD align=right>- </TD><TD align=right>- </TD><TD align=right>- </TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Income Before Tax</TD><TD align=right>(10)</TD><TD align=right>(193)</TD><TD align=right>(535)</TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Income Tax Expense</TD><TD align=right>- </TD><TD align=right>- </TD><TD align=right>- </TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Minority Interest</TD><TD align=right>- </TD><TD align=right>- </TD><TD align=right>- </TD></TR><TR><TD><SPACER width="1" height="1" type="block" /></TD><TD class=yfnc_d colSpan=5 height=1><SPACER width="5" height="1" type="block" /></TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Net Income From Continuing Ops</TD><TD align=right>(10)</TD><TD align=right>(193)</TD><TD align=right>(535)</TD></TR><TR><TD colSpan=5 height=10><SPACER width="5" height="10" type="block" /></TD></TR><TR><TD><SPACER width="1" height="1" type="block" /></TD><TD class=yfnc_d colSpan=4>Non-recurring Events</TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Discontinued Operations</TD><TD align=right>- </TD><TD align=right>- </TD><TD align=right>- </TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Extraordinary Items</TD><TD align=right>- </TD><TD align=right>- </TD><TD align=right>- </TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Effect Of Accounting Changes</TD><TD align=right>- </TD><TD align=right>- </TD><TD align=right>- </TD></TR><TR><TD class=yfnc_tabledata1 width=30><SPACER width="30" height="1" type="block" /></TD><TD>Other Items</TD><TD align=right>- </TD><TD align=right>- </TD><TD align=right>- </TD></TR><TR><TD colSpan=5 height=10><SPACER width="5" height="10" type="block" /></TD></TR><TR><TD bgColor=#333333 colSpan=5 height=1><SPACER width="5" height="1" type="block" /></TD></TR><TR><TD colSpan=2>Net Income</TD><TD align=right>(10)</TD><TD align=right>(193)</TD><TD align=right>(535)</TD></TR><TR><TD colSpan=2>Preferred Stock And Other Adjustments</TD><TD align=right>- </TD><TD align=right>- </TD><TD align=right>- </TD></TR><TR><TD bgColor=#333333 colSpan=5 height=2><SPACER width="5" height="1" type="block" /></TD></TR><TR><TD colSpan=2>Net Income Applicable To Common Shares</TD><TD align=right>($10)</TD><TD align=right>($193)</TD><TD align=right>($535)</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
Just a few things that are interesting. The Reward here heavily outweights the risk at .05 cents. Someone is accumulating shares so hopefully good things are to come.