Stock Market Thread - ALL COMBINED
- Thread starter vinnie
- Start date
at least GE is moving... 
i feel sorry for those who got suckered in GMGMQ:sadwave: news stories starting to come out about it.
i feel sorry for those who got suckered in GMGMQ:sadwave: news stories starting to come out about it.
this would be a great day at this point if it wasn't for SRZ
you old people sre killing me :00x25
this would be a great day at this point if it wasn't for SRZ
I am taking a beating with SRZ too.
I don't understand are we running out of old people or something? :shrug:
i'm back in with half but for cheaper but am losing at the moment. the market is going to have to see some profits on the books before this baby goes back up. i'm willing to wait it out.
How Much is SpongeTech Worth?
Spongetech Delivery Systems, Inc. (SPNG.OB: 0.0975 -7.14%), a producer of cleaning sponge products that are pre-loaded with detergents and waxes, has seen its shares rise more than 1,000 percent since it began a hugely successful nationwide advertising campaign. The company is now booking millions in sales, but is a good bargain at these prices or should investors wait?
During the first quarter, Spongetech booked a shocking $13.2 million in revenues, which far exceeded the prior year?s $1.3 million. Cost of goods sold and advertising expenses also rose as a result of the advertising campaign and ramped up production, but the company still increased its net profits from $188,482 to over $1.5 million.
Unfortunately, Spongetech?s net income had to be divided by a large number of new shares that flooded the market. The company?s number of shares outstanding jumped from 115 million to over 1 billion during the first quarter, which resulted in an earnings per share number still below the $0.01 mark. And many investors are concerned about additional dilution.
A closer look reveals that many of these shares appear to be the result of convertible debt at low prices. In fact, a large number of the new shares issued this quarter went to RM Enterprises International, who received over 306.4 million shares in consideration for the conversion of $1.18 million in debt or an average of $0.0039 per share.
Fortunately, 526.5 million shares were cancelled when the company repurchased it from RM Enterprises, while the company is also involved in a program to repurchase additional shares. These programs help calm investor worries, as it shows that Spongetech is interested in reducing the number of outstanding shares and improving its earnings per share figure.
So, is Spongetech a bargain at these levels? Well, the company earned approximately $0.01 per share during the 9-months ended in February 2009. Assuming this pace keeps up and the company earns around $0.02 in 2009, this would imply a price-earnings ratio of around 5x. Given Spongetech?s growth rates of well-above 5 percent, this equates to a PEG ratio of well-below 1.0.
In the end, Spongetech?s stock may be undervalued, but it is important for investors to keep an eye on the company?s number of shares outstanding. Any efforts to substantially reduce this number could provide a major catalyst to its growing earnings per share number. And as long as the company is still rapidly growing its sales, there could still be a lot of upside.
-- THE OTC INVESTOR
Spongetech Delivery Systems, Inc. (SPNG.OB: 0.0975 -7.14%), a producer of cleaning sponge products that are pre-loaded with detergents and waxes, has seen its shares rise more than 1,000 percent since it began a hugely successful nationwide advertising campaign. The company is now booking millions in sales, but is a good bargain at these prices or should investors wait?
During the first quarter, Spongetech booked a shocking $13.2 million in revenues, which far exceeded the prior year?s $1.3 million. Cost of goods sold and advertising expenses also rose as a result of the advertising campaign and ramped up production, but the company still increased its net profits from $188,482 to over $1.5 million.
Unfortunately, Spongetech?s net income had to be divided by a large number of new shares that flooded the market. The company?s number of shares outstanding jumped from 115 million to over 1 billion during the first quarter, which resulted in an earnings per share number still below the $0.01 mark. And many investors are concerned about additional dilution.
A closer look reveals that many of these shares appear to be the result of convertible debt at low prices. In fact, a large number of the new shares issued this quarter went to RM Enterprises International, who received over 306.4 million shares in consideration for the conversion of $1.18 million in debt or an average of $0.0039 per share.
Fortunately, 526.5 million shares were cancelled when the company repurchased it from RM Enterprises, while the company is also involved in a program to repurchase additional shares. These programs help calm investor worries, as it shows that Spongetech is interested in reducing the number of outstanding shares and improving its earnings per share figure.
So, is Spongetech a bargain at these levels? Well, the company earned approximately $0.01 per share during the 9-months ended in February 2009. Assuming this pace keeps up and the company earns around $0.02 in 2009, this would imply a price-earnings ratio of around 5x. Given Spongetech?s growth rates of well-above 5 percent, this equates to a PEG ratio of well-below 1.0.
In the end, Spongetech?s stock may be undervalued, but it is important for investors to keep an eye on the company?s number of shares outstanding. Any efforts to substantially reduce this number could provide a major catalyst to its growing earnings per share number. And as long as the company is still rapidly growing its sales, there could still be a lot of upside.
-- THE OTC INVESTOR
Yep, they have a Buy back program as well... with 722 out there from what I understand... I can't explain the drop today however. Uff Da!
Profits have dwindled to close to 1.7k, do not have more money to put in at this time. But am confident we will still have a big run! Wait for quarterly numbers out in August! :00x11 :00x11
dogface
Profits have dwindled to close to 1.7k, do not have more money to put in at this time. But am confident we will still have a big run! Wait for quarterly numbers out in August! :00x11 :00x11
dogface
amazon reviews....
http://www.amazon.com/SpongeTech-Wa...ts=1&colid=&sortBy=bySubmissionDateDescending
<TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR><TD vAlign=top>By </TD><TD>Kingsley Kwan "Sunny California!"
(Rosemead, CA) - See all my reviews
</TD></TR></TBODY></TABLE>I bought this at CVS after hearing all the wonderful reviews for this miracle car wash system. At first I was amazed at all the soap this little sponge produced, but that was it...it's just a sponge. It was very difficult to clean anything because the sponge just passes through the dirt and sap without actually cleaning it. I had to use my microfiber towel and clean my car after making my car foamy.
Overall the sponge is just a never ending soap sponge, whose only purpose is to make your car soapy. When I tried drying my car with the chamois, it left my car with all these thin hair-like fibers from the towel, it didn't do a good job at all.
This is definitely a return.
amazon reviews....
http://www.amazon.com/SpongeTech-Wa...ts=1&colid=&sortBy=bySubmissionDateDescending
<TABLE border=0 cellSpacing=0 cellPadding=0><TBODY><TR><TD vAlign=top>By </TD><TD>Kingsley Kwan "Sunny California!"
It was very difficult to clean anything because the sponge just passes through the dirt and sap without actually cleaning it. I had to use my microfiber towel and clean my car after making my car foamy.
Overall the sponge is just a never ending soap sponge, whose only purpose is to make your car soapy. When I tried drying my car with the chamois, it left my car with all these thin hair-like fibers from the towel, it didn't do a good job at all.
This is definitely a return.
& No Billy Mays to sell it :sadwave:
spongetechagent.com
has a definite ring to it.......
i think it could be his calling :142smilie
has a definite ring to it.......
i think it could be his calling :142smilie
I have never bought one, was waiting for Jack!
Here is more info, that is all I got. Supposedly their adv was all over the Homerun contest on the walls... did anyone see it? Also tomorrow for obvious reasons... same field!!
Here is all of the reports I have seen out there...
*** If you need facts for DD, start here:
SEC Filings -- http://dev.ir-site.com/publishedsites/spongetech/sec.asp
Press Releases -- http://dev.ir-site.com/publishedsites/spongetech/press.asp
Reuters Report -- http://steventmhess.googlepages.com/525ReutersSPNG.pdf
ProVest Report -- http://steventmhess.googlepages.com/SPNG_Provest.pdf
Nasdaq Listing Requirements -- http://www.nasdaq.com/about/listing_information.stm
dogface
Saw Transformers with the son, I enjoyed the action, and looking at Megan!
Here is more info, that is all I got. Supposedly their adv was all over the Homerun contest on the walls... did anyone see it? Also tomorrow for obvious reasons... same field!!
Here is all of the reports I have seen out there...
*** If you need facts for DD, start here:
SEC Filings -- http://dev.ir-site.com/publishedsites/spongetech/sec.asp
Press Releases -- http://dev.ir-site.com/publishedsites/spongetech/press.asp
Reuters Report -- http://steventmhess.googlepages.com/525ReutersSPNG.pdf
ProVest Report -- http://steventmhess.googlepages.com/SPNG_Provest.pdf
Nasdaq Listing Requirements -- http://www.nasdaq.com/about/listing_information.stm
dogface
Saw Transformers with the son, I enjoyed the action, and looking at Megan!
i never bought one either and i was just at walgreens yesterday and didnt think to look to see if they have it :shrug:
i was just kidding. i'm in and holding as well. good luck to all of us.
Still watching the SPNG drop... very interesting... I can keep saying I am not concerned.. but I can't make heads or tails of it really.
7,500 more stores added to makret the product and it now drops sub .09... interesting. Hold on! :shrug:
End August will get a huge bounce from this level! :0corn :00x25 :yup
dogface
7,500 more stores added to makret the product and it now drops sub .09... interesting. Hold on! :shrug:
End August will get a huge bounce from this level! :0corn
:00x25 :yup dogface
