Speculative - SPNG

[jimnjana]

Anyone look at Spongetech (SPNG). Hard to miss them advertising on the blueboard behind homeplate of most MLB games. Anyway, they surpassed last years FY sales in the first eleven weeks of this FY, July Sales were over $25m, Aug sales figures are not out yet, no debt, bought Dicon Technologies for cash (manufacturer for their spongelike material). 10K is due anytime, Company announced 150M share buyback, and intent to get listed on NASDAQ w/o a Reverse Split.

Jim

 

[Moemg]

I see it is the number one talked about penny stock on Investors Hub . I occasionally dabble in penny stocks . It is like going to Vegas usually disappointing . The flippers do make money doing it but I do not have the guts for that . I really don't see a great potential in sponges but who knows ?