Mind you TIMalert subscribers and I haven’t shorted Spongetech Delivery Systems, Inc. (SPNGE) since June when we made 35% rather quickly, I keep featuring this joke of a company to help teach you degenerates what NOT to invest in…because at this point, this “company” has turned into a national joke, one that embarrasses The US Open & MLB ballparks everywhere (Spongetech bought prime advertising space, as I wrote about I’m convinced Serena Williams was yelling at SpongeTech, not the umpire!!!) hoping to lure in sports suckers into buying their joke of a stock…according to this mindless recent ESPN article, it worked)
…for the past week, TIMalert subscribers and I have been making tens of thousands of dollars shorting NEW and INFINITELY BETTER PUMPED penny stocks…
But it’s time to write about good old SPNGE again because for the 2nd week in a row, (remember last week’s Friday night PR announcing an SEC investigation?) they thought they could announce a huuuugely negative press release late Friday and nobody would notice….whoops!
Last week SEC investigation, this week it’s a “Notice of Delisting or Failure to Satisfy a Continued Listing Rule…here’s the clear cut SEC filing and here’s the Spongetech polluted PR where they try to defend themselves.
This time, thanks to the NY Post’s involvemnet, TheStreet.com is finally writing about this financial joke
But that article just quotes old news, what’s sillier is SpongeTech’s fight with their “frenemy” GetFugu, Inc. (GFGU) in which they were going to invest and then GFGU said no to the $, then SPNGE said it was SPNGE’s idea not to give GFGU any more $ and now SPNGE is suing GFGU for the money they already gave them!
Seriously, I can’t make this junk up:
Sept 24: GFGU issues PR saying no to $5 million from SPNGE
Sept 24: SPNGE issues PR saying it was THEIR idea not to give GFGU $4 million (SPNGE doesn’t count the $1 million from the other company Vanity Events, which is headed by SPNGE executive) SPNGE claims GFGU doesn’t have the $1.75 million
Oct 1: SPNGE sues GFGU to recover the missing $1.75 million
Oct 1: GFGU files SEC filing saying they won’t give back $1.75 million due to SPNGE wrongdoing
I dunno, all that smack talk reminds me of Bum Fights…after all, GFGU and SPNGE are 2 blatant penny stock bums!
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