UPDATE: The 4th late Friday night PR in a row…are these guys just begging to be crucified/go to hell?…after using this time honored “worst time slot to announce anything” to announce they were under SEC investigation in late September, their delisting notice in early October, they now try to hide the fact that their bigtime auditor D&T WANTS NOTHING TO DO WITH THEM. To all you bagholders, I am not sorry for your losses, you deserve 100% of them…for you are the definition of what it means to be a sucker. How do it feel? Pretty sucky, huh? Well, I was there in that same spot years ago, but I picked myself up, learned and now I’ve been the #1 trader out of 35,000+ on Covestor for 2 years running…I suggest using my instructional DVD packages detailing penny stock manipulation and how to profit from it (legally) to help teach yourselves how to profit from such blatant scummy business dealings…Spongetech isn’t the first pump & dump, nor is it the last, time to get prepared to profit from futures ones so you never have to like this again!
Understand that aside from when TIMalert subscribers and I made 35% in one day on this carcass of a company, I currently have ZERO position in Spongetech Delivery Systems, Inc. (SPNG), I highlight again and again only because it’s the perfect example of a pump & dump, on which my instructional DVDs outline how to profit. Many refuse to believe this is a pump & dump, but they haven’t read this post of mine where I explain it in a very simple language they can understand
The headline: “SpongeTech(R) Delivery Systems, Inc. and GetFugu, Inc. Reach Amicable Accord” is funny.
Funny because after a particularly brief yet nasty lawsuit of GetFugu, Inc. (GFGU) (remember my blog post detailing that?), the two pump & dumps are now friends! Like two murders reconciling in hell.
Here’s the whole meaningless yet gossipy PR that is bound to make you feel better about your life:
(I won’t play the stock now that it’s at 4 cents, down 90% from when I was warning people it was a pump & dump, but I will always post about this dumper to help show you their word means SQUAT…PS notice how the CEO isn’t even quoted anymore, methinks he did something baaaad)
NEW YORK, Nov 06, 2009 (BUSINESS WIRE) — SPNG | Quote | Chart | News | PowerRating — SpongeTech(R) Delivery Systems, Inc. (”SpongeTech”) “The Smarter Sponge(TM)”, (OTC: SPNG), provides shareholders an update regarding its dispute with GetFugu, Inc. (OTCBB: GFGU). Both companies have come to terms on the original investment of $1,750,000 that was advanced by SpongeTech and its affiliates back in September. Management of both SpongeTech and GetFugu feel it is in the best interest of both parties to move forward in good faith for the mutual benefit of the companies and their respective shareholders. The aforementioned lawsuit will be dismissed and SpongeTech will proceed with their investment, which will immediately be converted into shares of GetFugu common stock.
GetFugu, Inc. (”GetFugu”), is one of the first technology architect’s to provide a carrier agnostic, platform agnostic mobile search platform. GetFugu will change the way people access the web with their mobile phones. It is designed to encourage use of its applications by simply integrating the mobile phones’ core strengths (image recognition, voice recognition, location recognition) into a single customizable application.
GetFugu’s unique “See It,” vision recognition (ARL) “Say It,” voice recognition (VRL); “Find It,” location recognition (GRL); and “Get It,” Hot-Spotting services is targeted at the growing surge of the world’s population that regularly utilize mobile phones to search for entertainment, news, sports, shopping, and every other thing available on the Internet.
Under the terms agreed to by the parties, SpongeTech will be one of the first companies to utilize GetFugu’s innovative mobile search platform. GetFugu will point SpongeTech consumers to the nearest retail location that carries SpongeTech products based on the GPS functionality available in most mobile phones and/or be automatically connected to SpongeTech’s corporate internet e-commerce portal where they can purchase SpongeTech products on-line.
SpongeTech increased its national marketing and advertising budget this year and has successfully partnered with numerous NBA, NFL and NHL sports teams which include NBA teams: Charlotte Bobcats, Cleveland Cavaliers and New York Knicks, NHL teams: Chicago Blackhawks and New York Rangers and eight NFL teams for the 2009 season. The Company has grown its impressive sports sponsorship portfolio, previously leveraging Major League Baseball teams, the World Football Challenge, the US Open and professional boxing.
“We are pleased that we can move forward with GetFugu and see their platform in action,” commented COO of SpongeTech, Steven Moskowitz. “Our marketing strategy has placed the SpongeTech brand name in various sporting venues across the U.S. and we believe GetFugu will increase the excitement in our brand and help bring our brand to the next level.”
The following video, http://spongetech.getfugu.com, demonstrates how a consumer seeing a SpongeTech TV ad utilizes the GetFugu platform to purchase a SpongeTech product. SpongeTech: See It, Say It, Find It, Get It!
Tags: SpongeTech Lawsuit, Spongetech Losses, Spongetech Pump & Dump, Spongetech Scam
