ill jump in here too, penny stock chaser......Originally Posted by GoHerdGreg
SIRIUS XM SATELLITE RADIO FORUM
ill jump in here too, penny stock chaser......
alright everyone here's the deal, picking up 7000 shares by dropping 1k on spng tomorrow at .147, then watching it for a while....looking to turn it around soon at .30. $1,000 gets me the same shares i had in siri for 1/5th the price and i can see spng at .50 soon.
I think they have an annual report coming out this month
heres the summary from the top of my head not official numbers
51k revenue in 2007
6MM revenue in 2008
18mm june 09, 23mm july 09
original estimates were for 40MM in 09, they did it in two months.
if you've been reading my other posts you will see the ridiculous media blitz they have going and the stores they are getting in.
ps. they are buying back shares and they are cancelling A/S shares and...they are trying to get listed on Nasdaq. SpongeTech(R) Delivery Systems, Inc. to Seek Listing on NASDAQ Capital Market you know that means $1 a share right? http://www.irw-press.com/en/news_7052.html
GN & GLTA
Last edited by imromo24; 08-05-2009 at 11:45 PM.
the big thing about the spng revenue is its 20% profit. they had 800k in debt in 2007, then made 6mm of which 1.3mm was profit.
here actual numbers from there 10k
you can read this or not
From
our
inception in 1999 through the fiscal year ended May 31, 2003, we had sales
of
$342,019. Between June 1, 2004 and the fiscal year ended May 31, 2006, we had
minimal sales (an aggregate of $15,768) and instead focused on product
development. For the fiscal year ended May 31, 2007, we had sales of $55,112
and
incurred net losses of $817,217. For the fiscal year ending May 31, 2008 we
had
sales of $5,633,084 and net income of $1,244,455.
Romo,
I think you have your head screwed on correctly with SPNG. I can see the logic in that, especially wanting to get listed on the NASDAQ.
phew, that was one of those compliments you have to think about
Ya, it was pretty "Heavy", man.....lolphew, that was one of those compliments you have to think about
Bill
kinda quiet in here tonight...everyone probably wornout by Siri today. Dont know if you saw my post earlier...my plan for siri today worker perfectly...well not exactly...actually F%^k it all up!LOL The run to .60 had me pissing my pants...screaming at my blackberry...run you F*&&in blue dog run! as the Lady in the next car looked on in horror! Changed my plan about 10 times...finally...when it looked like a take down coming EOD...sold 50% at
.565! Will probably wait for the retrace and buy back if retrace is in the .10+ neighboorhood! Plan on keeping some powder to play with!
One thing I learned over the last year + being invested in Siri is patience! I like Romo's thoughts on spng! Sounds like a hold and accumulate at these levels! Also, bass pointed out that the upside potential on MGLG outweighs the downside at this point in time. Sh%t it is only money! I plan on accumulating another 1-2M shares if the price remains at .0006-.0007!
Jeff that was a smart move! You have been waiting on .50 for so long. It is very hard to get the very top money, like .60, because by the time the volume is going nuts trying to keep the price up and it is really ready to fall. I haven't looked at the chart yet, but I can just imagine, pretty accurately what it looks like. I just looked at the chart. It is very typical of a (don't take this literally) pump and dump chart. (Listen before anybody throws rocks). It had a little wave, then climbed like crazy. When it reached .60 it was fighting to stay where it was and others tried to make it gain. Then it fell and rebounded to just about as high as the intial plateau on the gaining side. Now continuing on, people were convinced that it would climb again and they repeated this thought over and over again as the stock sank slowly but surely to .54. This is typical thought among traders that a stock is going to shoot right back up. When you look at the initial climb, the initial plateau and then the slight fall back, it is a sure indicator (90% of the time) that the price is going to go tits up. The second indication is on the fall and it rebounds close to the initial plateau on the way up. It is almost certain to fall again. In this case it just kept repeating itself on the way down because of belief by people that it was going to go back up. I will post a level II and everybody can see what I am talking about.
So you did good, Jeff! Congratulations!
Bass is a smart man! Both Dave and he never did pennies before and thought we were crazy here...now they are two of the biggest and most loyal contributors on the board, lol.
They have seen the light!
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