Comments on: The $100m Question About SPNG And Corporate Ethics

By: lawyers

lawyers — Mon, 15 Jun 2009 15:00:54 +0000

These are the guys who bought up all the new shares. The Spongetech attorney’s: each attorney, and the whole group.
Number of Shares Owned as of
Name of Shareholder Address of Shareholder December 9, 2008
Levin & Associates Co., 1301 East 9th St., Suite 1100 425,000
LPA
Cleveland, OH 44114
Joel Levin 2467 Stratford Road 7,655,000
Cleveland Hts., OH 44118
Mary Jane Levin 2467 Stratford Road 6,830,000
Cleveland Hts., OH 44118
The Ava Levin Educational 2467 Stratford Road 1,100,000
Trust
Cleveland Hts., OH 44118
Thomas A. Muzilla 2996 Kingsley Road 2,350,000
Shaker Hts., OH 44122
Terence Ryan 2650 Fairmount Blvd. 138,000
Cleveland Hts, Ohio 44106
Susan Hunt Levin 2650 Fairmount Blvd. 1,847,000
Cleveland Hts, Ohio 44106
Guerman Nemirovski 14014 Shaker Blvd.., Apt. 502 3,207,786
Shaker Hts, OH 44120
Reid Levin 12469 Cedar Rd., Apt. 9 424,341
Cleveland Hts, Oh 44106
Laurence E. Saulino 3123 North Martadale Drive 200,000
Akron, OH 44333
Joel Trockman 232 19th St., NW, #7410 6,344,700
Atlanta, GA 30363
George R. Louis 141 Finch Road 10,461,133
Ringwood, NJ 07456

By: The Flow

The Flow — Sat, 13 Jun 2009 18:13:49 +0000

it hit $0.22, I figured it was funny business. I had read some articles posted by @_thedean and some others earlier in the morning which warned of a major pump-and-dump, thanks you for the lesson Dean!

By: devriet

devriet — Fri, 12 Jun 2009 18:59:44 +0000

I wanted to thank The DEAN for his advise on SPNG….I made some money on it. But it is nice to know that the cat you are swinging is dead.

By: ouch

ouch — Fri, 12 Jun 2009 17:40:11 +0000

the bad news came today, it is dropping like a burning missile! So much for my gains, so much for my investment, down huge.

By: jpp

jpp — Fri, 12 Jun 2009 13:13:33 +0000

salpirwani is up 1 million dollars if he/she is still in (on 114k investment). That’s not bad That’s quit your day job / retire early type of $. I don’t know if this is going to $1, I’m skeptical of that, but it is making a lot of money for investors and longs. If this is some sort of pump, at some point bad news will come through, but maybe not?

By: Ouch

Ouch — Fri, 12 Jun 2009 10:25:43 +0000

@thesandman2205

Ouch… you’ll be missing out thanks to the DEAN. .20cents and rising.. I’m confident in this company. They have a bright future ahead for them.

By: salpirwani

salpirwani — Fri, 12 Jun 2009 06:44:58 +0000

This is all in my honest opinion. I could not presume to advise anyone what they should do! I have made a very major commitment of $$ to this stock – 4.75M shares at 2.4 cents average. I have not sold any shares yet. But you should do your own DD. Call up management if you are thinking of making a serious investment. Don’t bother them with calls about 50K shares, but they will spend a lot of time with you regardless of the size of your position. Bill Young (IR) is a good place to start, but the real deal is Moskowitz. IF you have trouble getting through, then take that as a good thing. It may be that they are not talking because of the Nasdaq stuff. (FWIW, I have never spoken with Metter, and the emails I’ve received from him were rather offensive (mine to him might have been a tad over the line as well — LOL).

In previous installments, I used to say that I would NOT buy SPNG based on the potential for a squeeze – but rather to focus on the fundamentals. Well, now we are at 16 cents, and while I see fair value being much higher, getting to fair value would *only* (LOL) be a double or quadruple from here. At the same time, I am becoming a stronger and stronger believer in the squeeze. So, now I rate this as a very strong buy based on the fundamentals — and a table pounder based on the squeeze.

How rare is it that you have BOTH a fundamentals play and a squeeze play on the same stock?

By: OOPS

OOPS — Fri, 12 Jun 2009 03:18:25 +0000

Looks like thesponge jumped ship about a week too early. Assuming he bought in at $0.02 and sold at $0.10, he had 1.5 million shares. He missed out on a possible 1-week gain of over $200k. Ouch.

Where your article falls short is the failure to mention the company option to buy back those shares sold to RM. I am uneasy about the arrangement also but if handled properly, this funding becomes the exact opposite of toxic funding (0% loans are always nice).

By: thesponge

thesponge — Fri, 05 Jun 2009 23:38:24 +0000

So glad I found your post. I have held SPNG shares since Feb. 09 and have watched the PPS go up and down all along holding my Long shares. Sold half of them today for a 5 month gain of $120,000 dollars. Thank you for saving me.

By: thesandman2205

thesandman2205 — Thu, 04 Jun 2009 23:30:19 +0000

It appears that he is a fool.

By: lwrob24

lwrob24 — Sun, 24 May 2009 20:45:44 +0000

The retiring of shares was simply just another PR spin as was the share buyback PR. The simple fact that the TA is still gagged explains it all. In the history of stocks, there has almost never been a good reason for a company to gag he TA. SPNG will be no different IMO. The top guys have a shady past to say the least imo. They are now tripling the offer when you buy, meaning return customers will be few,and who washes their car when there is snow on the ground? The start of winter is also the end of baseball season which accounts for a major part of their advertising. They will also need huge amounts of cash to promote Spongebob when it arrives. I see a reverse split coming if they indeed intend to get on NASDAQ. While sales numbers are huge, the things behind the curtain will bring it all down in my opinion.

By: spongy

spongy — Wed, 20 May 2009 17:19:18 +0000

They are a Delaware company. Go to the Delaware Secretart of State website. You can get more up to date info re: number or new or existing shares. It would seem foolish and shortsighted for these guys to screw the investors. Given the marketing campaign, they would end up looking like real scumbags to more than just shareholders, and squander a potential
landslide of profits spanning across several markets and the globe.
I’m still long on them. If next quarterly report shows an increase of shares or failure to re-purchase shares as previously stated, then it may be time to re-consider…