Stock Market Thread - ALL COMBINED
- Thread starter vinnie
- Start date
you were so i didnt post it. i made out okay but not like the master (you)
maybe we will see some down movent so we can put our profits to work :grins:
Investment Report for SpongeTech
Delivery Systems Inc.
August 26, 2009:
Sponge Tech Delivery Systems Inc. (NASDAQ:SPNG.OB)
SpongeTech Delivery Systems, Inc. designs, produces, and markets unique lines of reusable cleaning products for car care, child care, home care, and pet care usages. These sponge-like products utilize SpongeTech's proprietary, patent (and patent-pending) technologies, and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices, or other ingredients. The company's sponge-like products are pre-loaded with specially formulated ingredients, such as soap, conditioner, and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech Delivery Systems is exploring additional applications for its technology in the health, beauty, and medical markets. It plans to globally brand its company as America's Cleaning Company. The company was founded in 1999 and is based in New York, New York.
Financial Summary
The Company reported revenue of $13.2MN for the third quarter ended February 28, 2009, a 900+% increase over revenues of $1.3MN reported for the same quarter last year. Net income for the third quarter (Q3) of 2009 was more than $1.5MN, compared to net income of $188,482 for the comparative 2008 quarter, reflecting exponential growth over the same period last year.
For the nine-month period ended February 28, 2009, the company reported revenues of $31MN, compared to $1.5MN for the comparative period of 2008. Gross profit for the nine-month period ended February 28, 2009 was $17.6MN compared to gross profit of $1.3MN for the comparative period of 2008. Net income for the nine-month period ended February 28, 2009, was $4.9MN compared to a net income of $197,150 for the comparative period of 2008.
As of February 28, 2009, the Company held cash/cash equivalents of $34,570 as compared to $19,387 at May 31, 2008. The Company?s working capital at February 28, 2009, was $19.6MN as compared to $4.9MN working capital at May 31, 2008. The Company has no outside debt. The Company may seek/require external financing to fund the inventory and receivables growth to support new customer additions.
Analyst Consensus
No Analyst coverage
Rating: HOLD
Investment Highlights
SpongeTech Delivery System Inc. designs, produces, markets and distributes cleaning products to the consumer through large retail chains. The Company?s proprietary sponges contain hydrophilic foam polyurethane matrices and other technologies. The Company?s products include auto care; child care; home care; pet care; health care, as well as beauty, kitchen, bath and medical cleaning products. It plans to globally brand its company as America?s Cleaning Company.
Industry estimates for industrial and institutional cleaning chemicals is projected to increase 3.8% annually to $10BN by 2010. Increased spending reflects the growing popularity of multifunctional cleaning chemicals offering sanitation and other benefits as well as reduced labor costs for janitorial and other cleaning operations.
As of the third quarter (Q3) FY 2009, the Company continued to announce new orders and customers? addition. In May, the Company secured approximately $10 million in new orders. For the month of June the Company reported approximately $13.65 million of purchase orders. For the month of July the Company secured approximately $6.9 million in new orders, and most recently reported $13.5 million in new orders for the month of August ?09.
The Company?s products are in demand via various retail outlets throughout North America, including drugstores, supermarkets, membership warehouse clubs and big box stores. The Company?s products are being distributed through such outlets as: CVS, Kroger, Ace Hardware, Bashas?, Price Chopper Strauss Auto, Walgreens, Costco and other distributors.
In early August, the Company announced another initial purchase order from BJ Wholesale Club, but has as of yet to disclose the size of the order. The six-piece ?Club Pack? will be offered at BJ?s in Florida, Georgia and North Carolina later in August, with expectations of the ?Club Pack? being offered nationwide following the initial order, according to its recent press release.
In July, the Company announced it has acquired Dicon Technologies for $4.45 million in cash. Dicon Technologies is a company that specializes in research and development of products derived from hydrophilic urethane chemistry. Dicon currently sells various products, including private label brands for multiple industries through established channels of distribution in the U.S., including traditional food, drug and mass market stores such as CVS, Walgreens, Kmart and Wal-Mart, as well as direct sales to large commercial clients, all of which the Company intends to immediately utilize. In addition to the U.S. distribution, Dicon currently has distribution in Asia.
Another announcement in July included a record month of new orders of approximately $23.5 million, compared with $18 million for June.
The Company?s revenue growth has been explosive, increasing revenues more than 10-fold in the first quarter of 2009 from the fourth quarter of 2008. Advertising rose sharply as well, yet net profits still rose sharply from $188,482 to more than $1.5 million.
The Company?s revenue growth is expected to continue through wide exposure via the world?s largest retailers and its brand-awareness marketing and advertising campaigns, which include affiliations with major league sport franchises (i.e. NY Jets; Cleveland Browns etc.) in the United States.
Technical Analysis
After ?Breaking-Out? in early June, the shares of SpongeTech Delivery Systems Inc. (SPNG.OB) have found themselves trending sideways and in consolidation mode for the past two (2) months, yet now ?appear? to once again be picking their head up as evidenced by the chart below:
When observing the chart, we can see that relative strength is gaining momentum as it continues its northward march presently residing at RSI 65, while the MACD finds itself ready to turn positive, both favorable characteristics, as well as occurring on increasing volume. Furthermore, the shares are comfortably perched above their inclining 20; 50 and 200-Day MA?s respectively, which is indicative of a healthy posture.
There ?appears? to be a bit of resistance at the .175 level and should that hurdle be ?cleared?, the shares may just be poised for a run ?for the roses? to their recent highs.
:0corn :0corn :0corn :0corn :00hour
It may & I hope it does for you guys but you can't wash & wax your car at the same time so I don't see how they can work ? The pet & kid is good but will people keep buying them at that price or is it a one & done ? Now if they get into health, beauty, and medical markets I would be buying then. Women don't care what they pay for something & hospitals will just pass on the cost so that could be their big break out. JMO :shrug:
Run like Hell SPNG.kurby
Vinnie you may be right about big board correction. The monster months of Sept & Oct are next. Man they can be tough.
Vinnie you may be right about big board correction. The monster months of Sept & Oct are next. Man they can be tough.
was hoping for better than this :jerkit:
SpongeTech(R) Delivery Systems to Be Prominently Featured at the 2009 US Open
Last update: 8/26/2009 2:00:00 PM
SpongeTech(R) Continues to Leverage Major Sporting Events to Build Awareness and Increase Sales
NEW YORK, Aug 26, 2009 (BUSINESS WIRE) -- SpongeTech(R) Delivery Systems, Inc. ("SpongeTech") "The Smarter Sponge(TM)", (SPNG), announced today that the Company has established a relationship with the United States Tennis Association ("USTA") and its premier event, the 2009 US Open, August 31 to September 13, 2009. Building upon existing Major League Baseball and National Football League partnerships, the US Open will provide SpongeTech new international sports appeal. The Company will receive premium courtside signage at the Arthur Ashe Stadium in New York and an on-site product kiosk on the grounds.
This deal continues to present SpongeTech as the newest major player in the sports sponsorship landscape. "We look forward to a fantastic relationship with the USTA," stated Michael Metter, CEO of SpongeTech. "This partnership will allow us to reach an international fan base and market our product during this prestigious tournament. A premier event such as the US Open will provide SpongeTech the opportunity to showcase our brand name worldwide."
SpongeTech has recently begun sponsoring multiple teams within the NFL, including the New York Giants and Jets. The Company continues to grow its sports sponsorship portfolio in 2009, which have included leveraging MLB teams and the World Football Challenge.
SpongeTech(R) Delivery Systems to Be Prominently Featured at the 2009 US Open
Last update: 8/26/2009 2:00:00 PM
SpongeTech(R) Continues to Leverage Major Sporting Events to Build Awareness and Increase Sales
NEW YORK, Aug 26, 2009 (BUSINESS WIRE) -- SpongeTech(R) Delivery Systems, Inc. ("SpongeTech") "The Smarter Sponge(TM)", (SPNG), announced today that the Company has established a relationship with the United States Tennis Association ("USTA") and its premier event, the 2009 US Open, August 31 to September 13, 2009. Building upon existing Major League Baseball and National Football League partnerships, the US Open will provide SpongeTech new international sports appeal. The Company will receive premium courtside signage at the Arthur Ashe Stadium in New York and an on-site product kiosk on the grounds.
This deal continues to present SpongeTech as the newest major player in the sports sponsorship landscape. "We look forward to a fantastic relationship with the USTA," stated Michael Metter, CEO of SpongeTech. "This partnership will allow us to reach an international fan base and market our product during this prestigious tournament. A premier event such as the US Open will provide SpongeTech the opportunity to showcase our brand name worldwide."
SpongeTech has recently begun sponsoring multiple teams within the NFL, including the New York Giants and Jets. The Company continues to grow its sports sponsorship portfolio in 2009, which have included leveraging MLB teams and the World Football Challenge.
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And by "a relationship", they mean that the USTA is allowing them to pay them money to advertise.
I hate these fake press releases.
The company seems like it has enough going on to not be doing this. My guess is that they hired a PR firm/employee who is tasked with filing a release every day.
Well....now Roger Federer can wash and polish his balls at the same time!
I have a small position in SPNG I wish I had more.
:sadwave:
Just playing with you my man, I hope no offense is taken!
LOL!!!
I told you I could get her going in the right direction, it just took longer than usual. I really like playing the Penny Stocks and actually thought about jumping in when you was spreading the word when it was under .03, that damn political board gets me distracted sometimes. BOL.
:toast:
