SPNG is a buy
April 1, 2009
Spongetech Delivery Systems, Inc.
SPNG is a buy @ $0.0195 as of Wednesday, April 1, 2009
Yes, I am going to go ahead and say that this is one of the most undervalued companies currently on the market. The upside on this is astronomical, literally. I don’t even have to sit here and convince you as to why to put your money in on this. Projected $13,000,000 in revenue for March ’09, a commercial that runs nationwide on some of the most popular channels viewed by excess of 100,000,000 people.
In fact, why don’t you go and read the Yahoo Headlines on SPNG yourself.
NEWS HEADLINE UPDATE
SPNG is pleased to announce that interactive lifestyle network and retail destination HSN will be airing shows featuring SpongeTech® Car Care products beginning on April 03 2009 at 6:00AM, and at 6:00PM, April 05 2009 at 10:00AM, and again on April 14 2009 at 9:00AM, and at 6:00PM. With the car wash season approaching we feel this is a good time for SpongeTech® to get involved with HSN. [ source ]
SPNG is pleased to announce that SpongeTech®’s March Madness give-away has been a Slam Dunk!! Due to the overwhelming demand for the “Free” sponge, the Company is delighted to indulge all the additional requests that are still continuing to pour in. [ source ]
SPNG announced today that its Uncle Norman’s(TM) Pet Sponge, a one-step pet bath sponge, is now available for pet parents at 300 select PETCO stores nationwide. [ source ]
If this is not enough to convince you, lets take a look at the Balance Sheet available via Google for all those accounting junkies out there.
From above, during Q4 alone, revenues rose nearly by 300% since last year. But more importantly, the Net Income during Q4 rose by nearly 200%. This is exponential growth which is very hard to come by these days. Moreover, it has increased its assets from 0.1, to 5 (the first 2 years of operation), all the way to 17.2 million (in just its last quarter), meanwhile maintaining literally no liabilities on the side. What more could you truly ask for?
A true diamond in the rough, get in while it’s cheap – you won’t regret it.
Check this out! We have SPNG Godfather Style!
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April 2nd, 2009 at 12:54 pm
hey michael man Are you really sure about this company i read a lot about it and took your word for it i bought it at .027 which i still think its cheap. Do you think i made a good decision and for how long should i hold this stock?
April 2nd, 2009 at 1:09 pm
My friend… this is a long term stock. I am looking to hold until it reaches at least 50 cents a share, which it will because it has a highly brilliant marketing campaign / management team which knows what it’s doing. Hang on tight, you bought a little high today, but have no fear as within the next coming weeks it will look like a discount!
April 2nd, 2009 at 1:13 pm
yea but it says all over internet that this is a scam and that thier website hasn’t been updated in 6 months. This might just be a classic pump and dump
April 2nd, 2009 at 1:23 pm
@Joshua, go to their website http://www.sponget.net/ and click press releases. They have updated everything you need to know to show you it is not a scam. Those b/s companies with cancer drugs like CTIC and GNTA, those are scams as they have no income flow what so ever.
Hope that helped.
April 2nd, 2009 at 1:32 pm
you call CTIC a scam even though you recommended it not too long ago? how am i supposed to know that this one isn;t a scam as well?
April 2nd, 2009 at 1:39 pm
I recommended it and sold it for 16% profit yes, I never said it was a long-term hold. This company is different… its actually making revenues and profits.
April 2nd, 2009 at 1:57 pm
all i can say is i hope to god you are right. I definetly however don’t agree with your price target of 50 cents that is almost 25 times the current price. This stock should be valued in the .04 to .05 range from what i can tell
April 2nd, 2009 at 2:01 pm
@Joshua, ask yourself this: Is that what people said when CROX was an OTC company? Plastic shoes with nothing special to them… American’s love all-in-one products that save money and quite simply “look cool”. This will be not just a new innovative product in their eyes, but also a FAD for all those Car freaks and children lovers (see Spongebob and Nikleodeon deals)
April 2nd, 2009 at 6:22 pm
ok man i’m convinced. by the way you know me . It’s Josh from professor Quan’s class. We also took accounting B05 in the summer. I forgot to thank you. you were the guy who got me interested in the stock market. Now i trade stocks daily and i’ve been making a lot of money lately. I just hope this SPNG stock will give me those GIGANTIC returns im hoping for.
April 2nd, 2009 at 7:57 pm
@Joshua, lets all hope for the best buddy
April 7th, 2009 at 6:56 pm
Hey Michael,
Thanks for an amazing ride with SGIC. I bought into SPNG and am quite optimistic with their recent news on $3M in sales in one week. I recall a Sell @ .5 – is this still your target or has it changed with this last article? Thanks Again.
GLTA!
April 7th, 2009 at 7:43 pm
@ NYPharmer, hello, this is def. a hold for long-term. It will bring you lots of fortunes… since I am a daytrader who trades multiple stocks per day (however I usually do a post on something I will hold for a week or longer) I have no time to update it on a constant basis. Yes I am long on SPNG though. This one was a trully spectacular find!
April 7th, 2009 at 9:12 pm
Thanks Michael, I really have a lot to learn from you. GBU! GLTA!
April 7th, 2009 at 11:42 pm
I’m holding SPNG and I love your site.
The Godfather videos, while cute in a way (because I’m used to stuff like that), to most would be absolutely terrifying, and completely socially unacceptable. This is why I assumed you are from another country; it’s too scary to be American. I’d take those off and try to be more friendly and professional (although being professional always means you are willing to give someone bad news, if necessary). I wouldn’t want my (tough hockey player) son to see the Godfather (yet), or without my permission.
Try to let some things go by the wayside when it comes to revenge against other bloggers!
April 11th, 2009 at 1:54 pm
I JUST RECEIVED THE FREE SPONGE KIT FROM SPONGETECH AND I AM AN INVESTOR WITH 60K SHARES. LITTLE LEVELING OFF THIS WEEK TO .02 HOWEVER I FEEL THIS UPCOMING WEEK WITH EARNINGS REPORT IT WILL GO TO .035-.04. MY WIFE LOVES THE SPONGES.
May 21st, 2009 at 12:57 pm
Hi, what do you think….is SPNG still a good buy at .0415??? or should i wait???
thanks…
May 21st, 2009 at 7:36 pm
@Scott, it has increased in price way too quickly… I would wait until it retraces back to the 3s
May 21st, 2009 at 9:29 pm
You said CTIC is a scam. I’ve been with CTIC since .33 They have 3 promising drugs in their pipeline. Two coming out this year Opaxio & Pixantrone. CTIC will probably be at $2-$3 in July when Opaxio gets approved. I believe CTIC is going to make a comeback.
May 21st, 2009 at 10:00 pm
@Ernest, I never said it was a scam, I simply day-traded it. Kudos to you for believing in CTIC.
May 22nd, 2009 at 6:21 am
My apology I read it wrong. Hehe… CTIC STRONG!!
May 22nd, 2009 at 10:08 am
Thanks for the quick reply. I agree. I did get in yesterday just with a tip toe. Came in on 20 thousand shares. Im very curious to see what happens with profits after the company launches a giant campaign on HSN network next week. (Home shopping Network). HSN has been known to launch profits….Well see
June 1st, 2009 at 9:50 pm
I was just wondering what is your thought about HYGN and SFIO? Iwould like to hold these long term for a big payoff. I think they have good potential to be great products. In need of a second opion.
June 5th, 2009 at 4:52 am
I just found this article in Crains New York Business. SpongTech just Tripled it’s office space in New York and signed a 10 year lease and Tripled it’s employee head count in the last year. As well as they just began selling in Costco. I believe this is a very good sign following is the article from Crain’s
Do a search on GOOGLE FOR headline below
Swelling SpongeTech soaks up more space
By Amanda Fung
Published: May 12, 2009 12:00 AM
Fast-growing retail sensation SpongeTech Delivery Systems has filled up every nook and cranny in its current office space and is moving down the block to 10 W. 33rd St.
The Manhattan-based maker of sponges preloaded with detergents and even car wax—for cleaning everything from pets to cars—has signed a 10-year lease for 6,500 square feet at the Fashion Accessories Center. The asking rent for the partial fifth-floor space was $39 a square foot. SpongeTech plans to move out of its current 1,500-square-foot office at 43 W. 33rd St. by the beginning of June.
“We have run out of space,” said Barry Kolevzon, executive vice president of SpongeTech, which has within the last year tripled its head count to 18 employees. The growth was aided by aggressive nationwide ad campaigns. “We need to keep up with demand and handle sales growth.”
Founded in 1999, SpongeTech also wanted to remain near the Empire State Building and good rail and subway connections. “They’re comfortable with the location,” said David Levy, a principal of Adams & Co. Real Estate, the building’s landlord. Mr. Levy worked directly with the tenant on negotiations.
Details:
* Tenant Name: SpongeTech Delivery Systems
* Street Address: 10 W. 33rd St.
* Square Feet: 6,500
* Asking Rent: $39 Per Sq Ft.
* Lease Length: 10 years
* Market: Midtown
* Submarket: Penn Plaza/Garment Distric
* Borough: Manhattan
* Brokerage Firm: Adams & Co. Real Estate
* Author: Amanda Fung
* Landlord Broker: David Levy
* Tenant Broker: David Levy
Entire contents © 2009
June 6th, 2009 at 8:14 am
Do you think that it would be a good buy in right now at .10 or should i wait and see if it goes back down. Im in at .04 and .09 at the moment.
June 6th, 2009 at 9:52 am
@Robert, these types of fast gains are never a healthy thing. It might come down real fast in the coming weeks, long-term you are safe though.
June 6th, 2009 at 4:49 pm
This is the only ‘penny stock’ I have ever purchased and I bought in on 06/05 for just under .10. I understand the skepticism in buying in as it has risen so quickly. But… based on their financial statement, sales and aggressive marketing SpongeTech has outgrown their stock price and its just a matter of time before it really takes off. I believe this stock will make alot of people wealthy this year!
June 9th, 2009 at 4:31 pm
Thank Michael!!!!!!!!!!!!!….made a bundle with spng! Came in at .04…bought 50,000 shares. its small to some…but alot for me!…I owe you one big time.
June 11th, 2009 at 9:15 pm
I have been watching spng but never invested. finally purchased 5000 at .22 today.
Hope I don’t regret.. your views please. I am a nervous new investor.
June 12th, 2009 at 9:09 am
Im kind of in the same boat right now. I dont know if i should try to get into some more or just hold off with what i have. Even though im making a good chunck of change off of it right now.
June 12th, 2009 at 10:39 am
@Nancy, this should see 0.5 soon. The chart and trend is unlike something I have ever seen before.
June 14th, 2009 at 9:50 am
Michael – i came across your post for spng while researching ifdg (now npdt). I personally know a connection between these two companies, but am curious to know if you know the same connection as I. Would you be willing to privately converse about this?
June 14th, 2009 at 10:08 am
@John, Interesting, would love to hear it — I know nothing about this. Contact me.
June 14th, 2009 at 10:14 am
if i had your email address i would
June 14th, 2009 at 10:14 am
@John, use the contact page at the top.
June 14th, 2009 at 10:40 am
hello?
June 14th, 2009 at 11:03 am
maybe it is davemaun…..@gmail.com – who wrote the post at ifdg – that knows what i am talking aobut.
August 5th, 2009 at 3:50 pm
I bought 1,500 shares spng on 7-27-09 @ .145. i bought some previosly also but was whipsawed out of the trade. When is their next earnings report?
August 18th, 2009 at 1:06 am
[...] Spongetech Delivery Systems, Inc. (+ 948% as of April/1/09) [ Link to article [...]
August 20th, 2009 at 1:25 pm
I purchased 27500 shares at 0142 , fingers crossed. Its my first time investing. I think that the next eraning reports is at the end osf this month.
August 29th, 2009 at 2:49 am
THIS STOCK IS GETTING POISED… TO MAKE A RUN TO THE NASDAQ=$1 MIN TRADING…I GOT THIS STOCK ON A TIP FROM A LOCAL BUSINESS OWNER IN MID JULY @ .795, COMING OFF ITS ALL TIME HIGH OF .2851, IT HAS WENT UP EVERY WEEK SINCE…AND TODAY IT WAS BACK UP TO .225….IF I WASNT SO FOOLISH AND DIDNT GET BORED IN THE LAST FEW WEEKS OF CONSILIDATION TRADING, AND IF I WOULD HAVE HELD MY 235,777 SHARES, I WOULD HAVE MADE THOUSANDS……SO REST ASSURED THIS STOCK IS A WINNER, THEY HAVE AL THE RIGHT THINGS GOING ON, AND THERE IS ALWAYS THE CHANCE A MUCH BIGGER COMPANY WITH IDEAS OF THEIR OWN FOR THIS proprietary system, IT IS REALLY UNIQUE, AND HAS MANY APPLICATIONS, IN MANY DIFFERENT FIELDS, SO CHECK IT OUT DO YOUR DD=DUE DILIGENCE AND START MAKING MONEY****I ALSO HAVE BEHL*** ITS EVEN BIGGER AND BETTER THAN SPNG, BUT THEY ARE 2 MUST HAVE STOCKS TO PROSPER FROM, BE WELL, BE SAFE, BE BLESSED……..GOD BLESS
December 14th, 2009 at 9:14 pm
You bought it @ .795…I hope you sold it, as of today 14th dec 09 it is 0.05.
This is the typical PUMP (0.795)_____DUMP (0.05)
Wait until they pump it again….A long wait
January 6th, 2010 at 7:58 am
I should have sold…holding 30K shares at less than 2 cents….could have made $8,600 at one point.
January 10th, 2010 at 5:38 pm
I bought back in September 5500 shares @ $.115, around the time they announced the reverse split to “go public”. Based on the books I thought is was a great buy, and had a promising increasing trend in equity and retained earnings. I thought the reaction from investers about the change in accounting firms and the delay on their form was a over-reaction, but I guess it had due reason. Lets see what happens with the lawsuit. The way I see it now if they lose the lawsuit we get $ back, if they win it the stock will start going back up over time, but it’ll be hard for investors to trust their books, unless they pass an audit.
Lawsuit info at http://www.rosenlegal.com
January 10th, 2010 at 5:50 pm
SPNG was my first “penny stock”. But on a side note I did buy EFJI last year back at $0.70, but that stock has been much higher (over $25 back in 98 and over $12 back in 06.) Based on their contracts and growth, I’m just waiting for this to go back up, although it has been very volitile over the past few months. In about the past 3 months from $1.97 down to $1 upto $1.60 down under $1 again and currently at $1.24. Would have been great for short term trades, who cares about the taxes if you make more too.
Curious to know what you think about all this.