It is as if the dark clouds of a trading suspension and looming legal action have dissipated. SPNG continues to release investor satisfying press and the stock trades well above its trade resumption lows.
At the end of last month a slew of SEC forms were filed that the Guru has just taken, an ever so brief, glance at. One form shows Pike Capital Partners, LP purchasing 10's of millions of shares after SPNG trade was resumed and owning, as of the date of filing, over 125 million shares of SPNG stock. I guess they know what they are doing.
The Penny stock guru will chime in on SPNG after taking a more thorough look at the recent SEC filings. Today's press release for SPNG is below:
SpongeTech(R) Partners with MLB Postseason Canadian Broadcast Business Wire "US Press Releases "
ANC Sports Creates Program to Brand SpongeTech(R) Internationally
NEW YORK --(BUSINESS WIRE)-- SpongeTech(R) Delivery Systems, Inc. ("SpongeTech") "The Smarter Sponge(TM)", (OTC: SPNG) is pleased to announce the Company entered into a marketing partnership with Major League Baseball during the 2009 World Series television broadcasts on Rogers Sportsnet and Le Reseau de Sport (RDS).
ANC Sports negotiated and secured the sponsorship on behalf of SpongeTech. The partnership with MLB is designed to drive consumer awareness around the new availability of SpongeTech's innovative reusable cleaning products at Sears outlets throughout Canada .
The marketing program places SpongeTech branding into the signage position behind home plate for one inning of every World Series game broadcasted in Canada through Electronic Virtual Imaging (EVI). EVI appears as a natural component of the broadcast behind home plate from live footage captured by the center camera, which includes more than 60 percent of the game.
" Major League Baseball's popularity is consistently growing internationally and the postseason provides us with an exceptional platform to introduce SpongeTech's expansion into Canadian retail outlets," said SpongeTech's COO, Steven Moskowitz . "This World Series marketing campaign supports our mission to enhance SpongeTech's brand awareness throughout Canada ."
SpongeTech's products are now being distributed at 120 Sears retail locations in Canada and online at www.sears.ca. The current products available include SpongeBob Soap-Filled Bath Sponge, Puddle Pals, Car Wash System - 3 Pack Combo, Tub & Tile Cleaner, Uncle Norman(TM)'s Pet Sponge and Uncle Norman(TM)'s Pet Bowl Cleaner.
In addition to promoting the distribution partnership with Sears Canada Inc , the MLB postseason sponsorship brands SpongeTech internationally as the Canadian feed also airs in Pan-Europe, Australia , South Africa , as well as on United States' military bases and the Fox Sports en Espanol broadcast.
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech Delivery Systems is a company which designs, produces, and markets unique lines of reusable cleaning products for Car Care, Child Care, Home Care and Pet Care usages. These sponge-like products utilize SpongeTech's proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponge-like products are pre-loaded with specially formulated ingredients such as soap, conditioner and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech Delivery Systems, Inc. intends to globally brand its products as The Smarter Sponge(TM) .
For more information, please visit the Company's website at: www.spongetechinc.com
Safe Harbor Statement
Under The Private Securities Litigation Reform Act of 1995: The statements in this presentation 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 May 31, 2008 , the Company's Quarterly Report on Form 10-QSB for the Third quarter ended February 28, 2009 . 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(R) Delivery Systems, Inc.
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4 comments:
I'm not buying what you are selling, sorry.
Hes not selling sponges?? That what you mean?
Hows that saying go... Screw up once shame on me... screw up twice shame on you??
The people buying now are the same people who will be crying later when it's halted once again.
Only a matter of time... Best of luck to you ~
Im not selling anything... not yet at least
Wow...such crazy talk.
"One form shows Pike Capital Partners, LP purchasing 10's of millions of shares after SPNG trade was resumed and owning, as of the date of filing, over 125 million shares of SPNG stock. I guess they know what they are doing."
WHY DOES THAT MEAN THEY KNOW WHAT THEY ARE DOING? It is a fund that has made some very, very bad moves...more than most. AND, would you mean to imply because ONE fund bought in to this offering, that all the others...especially the ones whose names we all know, and probably can qualify to have "know what they are doing" applied..all of a sudden DON'T know what they are doing? As NOT one of them has bought in.
This isn't an analytical site...it is a place for promoters advertising. Probably better o not just ignore their advice, but maybe actually use it to indicate contrary action is best.
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