SPNG almost 200 million shares traded so far. Still holding in the 3 penny range. I think this is a good sign. Somebody besides me thinks this might be a good investment......:out:
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SPNG almost 200 million shares traded so far. Still holding in the 3 penny range. I think this is a good sign. Somebody besides me thinks this might be a good investment......:out:
SpongeTech® Delivery Systems, Inc. Announces Class Action Lawsuits, Resignation of Deloitte & Touche LLP & Files Lawsuit Aga...
Date : 10/16/2009 @ 5:53PM
Source : Business Wire
Stock : SpongeTech Delivery Systems, Inc. (SPNG)
Quote : 0.0285 (%) @ 1:50PM
SpongeTech® Delivery Systems, Inc. Announces Class Action Lawsuits, Resignation of Deloitte & Touche LLP & Files Lawsuit Aga...
SpongeTech® Delivery Systems, Inc. (the “Company” or "SpongeTech") “The Smarter Sponge™” (SPNG) today announced that a lawsuit was filed on October 9, 2009 by The Rosen Law Firm, P.A., in the United States District Court for the Southern District of New York against SpongeTech, and its officers and directors, Michael L. Metter, Steven Moskowitz, Frank Lazauskas as well as RM Enterprises International, Inc. (an entity in which SpongeTech’s directors and officers hold direct and/or indirect ownership interests, and of which Mr. Moskowitz and Mr. Lazauskas serve as officers and/or directors), as a purported class action suit on behalf of all purchasers of SpongeTech stock between April 15, 2008 and October 5, 2009, alleging violations of the federal securities laws.
In addition, a second law firm announced that it has commenced a lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of SpongeTech stock between April 15, 2008 and October 5, 2009, inclusive. As of the date of this release, SpongeTech has not been served in this action and has not seen a copy of the complaint.
When and if SpongeTech is served in these actions it intends to carefully review the complaints in consultation with its counsel, and prepare an appropriate defense. SpongeTech and its directors and officers believe that the allegations set forth in the complaint filed by The Rosen Law Firm are meritless and intend to defend the action vigorously.
In addition, the Company today announced that Deloitte & Touche LLP ("Deloitte") has notified the Company that it would not act as SpongeTech’s independent registered public accounting firm for the Company’s fiscal year ending May 31, 2010. Deloitte was scheduled to commence its review of the Company’s financial statements for the quarter ended August 31, 2009, immediately following the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2009.
Furthermore, the Company has filed a lawsuit in the New York State Supreme Court, Suffolk County against Cresta Capital Strategies, LLC. (“Cresta”). The complaint alleges a breach of contract, conversion, unjust enrichment, breach of fiduciary duty and unlawful appropriation of funds. The Company is seeking compensatory damages in the amount of $2.75 million as well as punitive and exemplary damages.
In March 2009, Cresta was hired by the Company to serve as the exclusive investment banker to the Company in which Cresta was to provide advice and services concerning potential merger, acquisition and/or any business transactions. Upon modification of the agreement with Cresta, in June 2009, the Company agreed to and did provide Cresta with a $1 million cash advance which was to be used against future fees as a result of any transactions under the agreement. Cresta did provide investment banking services to the Company on the acquisition of Dicon Technologies, LLC (“Dicon”) as well as introducing the Company to Getfugu, Inc. (“Getfugu”). Cresta was paid in full all fees due with regards to its participation in the Dicon transaction.
In August 2009, the Company was introduced to Getfugu by Cresta, who was serving as investment banker for both the Company and Getfugu. At the advice of Cresta, the Company entered into a definitive agreement with Getfugu to invest $4 million into Getfugu’s mobile-based web search and e-commerce technology, and that the Company would be the first company to utilize Getfugu’s innovative mobile search platform. An aggregate of $1.75 million had been advanced to Getfugu, soon after Getfugu rescinded the transaction and to this date has not returned the monies to the Company.
In September 2009, Cresta terminated its agreement to serve as the investment banker for the Company, waiving and forfeiting any right to the $1 million cash advance for future fees. The Company has made demand for the $1 million, but Cresta has failed to return any part of the cash advance to the Company.
The Company alleges that Cresta breached its fiduciary duty to the Company by assisting Getfugu in obtaining money from the Company and failing to conduct any reasonable due diligence on Getfugu or its officers and personnel and failing to provide the Company with any reasonable due diligence upon which to make its investment decision. The Company is seeking compensatory, punitive and exemplary damages.
About SpongeTech® 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™ .
Safe Harbor Statement
Under The Private Securities Litigation Reform Act of 1995: The statements in this 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 fiscal year ended May 31, 2008 and the Company's Quarterly Report on Form 10-Q for the third fiscal 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.
TDA: Pattern Matcher
disclaimer: I'm not exactly *looking* to get into anything else ;)
Anyway...
I've been playing around with some of TDA's tools. One that has struck my fancy (today) is their "Pattern Matcher" tool.
Here is a list of companies that matched SIRI & are under or around a buck & have the potential to have nice pennant formations - IMHO.
HH
NENG
ZHNE
LDIS
BHH
IMOS
PNS
TSEM
WYY
AERT
I am still watching OCNF.......just sitting here watching the water flow....
Damn, you guys are quiet! :)
you started it :p
Quote:
Originally Posted by billhart22
Bill, do you have any idea of what's driving the price down? Any news that you know of?Quote:
Originally Posted by billhart22
It looks like volume is about 50% higher than normal.
I guess I will have to end it! Unless people start talking, I will sing! Be forewarned: I can make a dog howl!Quote:
Originally Posted by Ramsey
I don't see anything right off hand. I have looked all around.Quote:
Originally Posted by candleman
Last week you mentioned MPPC, I've kept an eye on it and it's behaving the same way. Dropping pretty hard today on high volume. I can't find any news about it either.Quote:
Originally Posted by billhart22
Ok I'll pipe in if that's what it takes to keep Bill from flexing the pipes ...
But good nite, this is a yawn festival! ... can't even get the spng to move.
At least SIRI is up ...
I was having a nice lunch time nap until the phone rang.
Patience vs. drudgery ...
Just random filler ... yawn
I knew I could count on you! :)Quote:
Originally Posted by Los Tiburones
Tomorrow is yet another day! Thank goodness the real stocks on the big board move and make some money. These pennies are starting to get a little boring..... except for the Sponge, I like it's movement today!
See you all in the morning,
Chuck
MPPC is like a sinker!Quote:
Originally Posted by candleman
OCNF dropped from 1.22 to 1.13 today......Like Chuck says...there has to be a reason.
I had to step away for an hour or so.....trying to finish up my window trim work....Lookey..Lookey...QASP, SIRI and BCLE ended up today!!!!!
I did pick up a tiny bit of OCNF today at 1.14....May start accumalating here.....
Begrudgingly, I made my way over to some other forums today.
One of the posts, catching my attention, mentioned the possibility that Spongetech is intentionally holding the 10k while they buy back shares.
Rams
PS: here's a shot, that I took over the weekend, of the kid and his girlfriend. Maybe it'll help to dissuade Bill from singing ;)
Quote:
Originally Posted by Los Tiburones
"Way down upon the Swaney River....far far from home....."Quote:
Originally Posted by Ramsey
Cool Pic! Great looking son!
So what did you learn on the other forums today? Anything of value?
Thanks...he's already breaking hearts ;-)
***
The extent of what I learned is twofold.
1. I really don't have the wherewithal to deal with Yahoo or the shrub or what was the other one, again?
2. The aforementioned rationale of why all the bs is going on with Sponge - that maybe they're holding the 10k due to quietly buying back shares.
All said, I haven't the foggiest idea about what's going on. What I do know is that pennies just may not be for me - especially right now, with being in pacific time zone.
***
Otherwise, I just couldn't bring myself to pay too much attention to the market today. Frankly, I'm just feeling quite a bit negative on a few things and didn't want to rant to you guys about it.
Which is why I shared the photo --- I'd much rather look at the brighter & cuter side of things ;-)
Anyway...
I do agree with Andy, at least we had some movement up on some of our stocks.
Quote:
Originally Posted by billhart22
SAN JUAN CAPISTRANO, CA, Oct 19, 2009 (MARKETWIRE via COMTEX) -- BioCentric
Energy Holdings, Inc. (PINKSHEETS: BEHL) today issued the following updates:
Nancy Lane-Fisher has accepted the responsibility and position of International
Relations Director to bring "Solutions 28" to the United Nations, the World
Bank, and Grameen Bank. The phrase "Solutions 28" has been aptly coined for the
integration of fresh water wells, power generation through anaerobic digestion,
remote education, remote medical services, and profitable algae farming... all
contained in twenty-eight, twenty foot custom mobile containers. The "Solutions
28" White Paper will be the primary focus of Mrs. Fisher's efforts.
Lowell Brittain is scheduled to leave for Accra, Ghana next Saturday to
represent BEHL at the International Bioenergy Market Symposium. While in Ghana,
Mr. Brittain will be meeting with several world leaders regarding the "Solutions
28." The "Solutions 28" White Paper synopsis will be the primary focus of his
trip.
Monique Barry and Lowell Brittain will be representing BEHL at the fourth annual
Pacific Rim Summit on Industrial Biotechnology and Bioenergy in Honolulu, Hawaii
November 8th through 11th.
HYPERLINK http://www.bio.org/pacrim/attendees/...anizations.asp
Our International Manager, Petr Kastanek, PhD will be arriving in San Juan
Capistrano from the Czech Republic on November 1st to:
Participate with all key personnel on a "Plan to Profitability"
Validate processes to enhance BEHL
Participate in the design and implementation of our laboratory here
in San Juan Capistrano
Update management on the implementation of our laboratory in the
Czech Republic
RELEVEANT LINKS:
http://www.biocentricenergy.com
http://www.thefuelfilm.com
VOD Newswire Video Format:
http://vodnewswire.com/vodnewswire/n...ergy-20091019/
Safe Harbor Statement: This release includes forward-looking statements intended
to qualify for the safe harbor from liability established by the Private
Securities Litigation Reform Act of 1995. These forward-looking statements
generally can be identified by phrases such as BEHL or its management
"believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or
other words or phrases of similar import. Similarly, statements herein that
describe the Company's business strategy, outlook, objectives, plans, intentions
or goals also are forward-looking statements. All such forward-looking
statements are subject to certain risks and uncertainties that could cause
actual results to differ materially from those in forward-looking statements.
BioCentric Energy Holdings, Inc
Investor Relations:
Dale Baeten
Office: 920-273-7941
SOURCE: BioCentric Energy Holdings, Inc.
I know a few of you are playing this on too. From what I have found they are in forbearance which means they have a 2 week grace period to pay their debt which is now due on the 30th or 31th of this month. It was looking bad but todays 8-k offers something interesting and possibly promising.
http://biz.yahoo.com/e/091019/chb8-k.html
19-Oct-2009
Change in Directors or Principal Officers
Item 5.02 Departure of Directors or Principal Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) On October 16, 2009, Robert W. Anestis, a director of Champion Enterprises, Inc. ("Champion"), announced his resignation from the Board of Directors, effective immediately. Mr. Anestis, with the concurrence of the Board of Directors, will be working with a third party that is considering a possible transaction with the Company, although there can be no assurance that any such transaction will be proposed or take place.
Hey All
Just checking in...been wrapped up with family obligations...niece got married to a fantastic guy...he built their house himself...from building concrete forms...to tiling(sorry Bill), to sheetrock...fantistic job! Great kid! We had the rehearsal dinner at our house! 62 guests...can you say nightmare!!!!!
Also, still dealing with daughter and her soap opera! Hopefully soon, it will all come to a head...and she can move on with her life. Driving to Houston on W/E's to be there for her!
Still losing my ass in the stock market game! Who would have thought...SiriusXM is my shining star at the moment! Go figure!
I will check in every so often!
Bill- how about them broncos! Kicking ass!
Andy- baton down the hatches...winter is just around the corner!
Chuck- no one is feeling sorry for your COLD day at the BEACH!
Julie- Pretty sad when your WNBA team leaves for Tulsa!
have a great day tomorrow!
jeff