CHATROOM

What’s SpongeTech Been Up To?

February 4, 2010 at 7:40 am
by Timothy Sykes

Watch these 7 free video lessons on how I became a millionaire

Check out all this site’s new and upcoming features…you’re gonna like them!

For those who don’t know SpongeTech Delivery Systems Inc. (SPNG) and I go waaaaay back…months before The New York Post started investigating and the SEC trading halt and before the stock crashed 90%, I wrote several blog posts warning people of the pump & dump scheme going on:

What is a penny stock pump & dump

Why SPNG is a penny stock pump & dump

SPNG list of paid stock promoters

Learnnnnn about pump & dump schemes, read this entire post

Two Czech brothers profited hundreds of thousands of dollars because of my many warnings and they have since become some of my best customers, purchasing all of my instructional DVD packages, I was even mentioned in the funny video created by frustrated Spongetech shareholders:

…and TIMalert subscribers and I baaaanked shorting SPNG from 18 cents/share to 11 cents/share…nice % gain in one day.

But lately, SPNG has become a boring failed carcass of a company and a typically useless penny stock:

spongetechpenny

And as is typical with shady Spongetech, they for the 4th time announced horrific news late last Friday saying they were “recently served with a complaint from Madison Square Garden with allegations including breach of contract and wrongdoing. The Company and its counsel have not yet conducted a comprehensive review of these allegations, but on a preliminary reading, SpongeTech believes the complaint to be without merit and intends to conduct a vigorous defense. SpongeTech also announced that it has recently opted-out of its business affiliation with the New York Yankees.”

LOL This carcass pump & dump is not only getting sued by just about everyone, including themselves, they’re also finding it difficult to keep advertising in mainstream athletic events…

Man oh man, everyone who lost $ on this one is truly better off for they have learned how disgusting these companies and people who run them are. I won’t rub it in, no matter the nasty stuff these naive people said about me, instead I’ll just point everyone to THESE guides from which they can even more…

Posted in SpongeTech

Tags: ,

No related posts.

  • K. Lee

    I guess the fact that their product is now in Walmart (4000+ stores) means nothing to you? You keep shorting, since the only way you make money is to make any company sound worse than what it is. Interesting how you’re panicking here with the latest Walmart FACT. I truly hope the SEC is looking at your motives going waaaaaaay back when. Would be nice to see your name listed as party to the destruction of a company. They have products Timmy boy – they’re selling!! The company isn’t going anywhere anytime soon. Bank on that!

  • Matt Bernestine

    American company.. provides Jobs to Americans.. and You short that company. Whose side are you and your followers ?

  • AsSeenOnMyCouch

    I do find it kind of odd that *as soon* as it was discovered that Spongetech produts will now be sold in Wal-Mart (this came out 2 days ago, no pr yet) – you write an article trashing Spongetech.

    Why is that? Tim, do you care to comment? This is obviously more than a coincidence.

  • http://www.timothysykes.com Anonymous

    quit it promoter, i saved over 1,000 people from this paid promotional pump, still get emails every day

  • http://www.timothysykes.com Anonymous

    walmart is meaningless, once u’re in this game for over a decade, u’ll have knowledge like me, for now you’re a sucker, talk to me in 10 years so i dont have to waste my time explaining the basics

    PS i havent shorted spongetech in a loooong time, but i LOVE exposing corruption

  • Matt

    Get off your high horse Tim. You are just as sleazy as M&M if you ask me. You clearly have an agenda and to paint yourself as some sort of whistle blower is a lie. You are a sleazy, half-assed, journo, douchebag.

  • James

    wow Sykes, have you ever tried being a decent human being? More people might actually like you and not your money.

  • http://www.timothysykes.com Anonymous

    james, dont even get me strarted, i’ve saved so many people from spongetech, i get emails nearly every day…cutting through the bs is a good thing, learn to read an sec filing and u’ll agree

  • http://www.timothysykes.com Anonymous

    I teach about how to identify and profit from manipulation legally…i’m a friggin saint compared to anybody else in penny stock land