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Old 09-17-2009, 02:27 PM   Nav to Top 
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Join Date: Aug 2009
Location: Portland, OR USA
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Default Carefully consider the facts only -- not rumors.

Remember the NY Post is *not* the NY Times. Additionally Timothy Sykes is not someone to be trusted or quoted as a source of any company. He is a shorter and a swing trader who spends little to no time investigating companies. He makes his money following trends and nothing more.

As far as what is happening at SPNG, I believe people are preparing now for the reverse split. I think in the next 4 trading days, you'll see this stock settle between .06 and .08 as the r/s is scheduled for 9/22. I expect a drop after the r/s as well.

This *will* settle and then the pps will rise. This company's financials are strong and this will be a great year for SpongTech, with NASDAQ listing in the future.

Having said all that, I've sold the majority of my shares at a loss to keep from losing more. I've only got 100k left in SPNG. But I *will* buy back in after the dust settles. I believe that will be after the r/s. I'm still watching it daily and ready to jump back in at any time.

I wish all SPNG investors the best. Do what is right by you and your money - not the company, a basher and most certainly not anyone on a discussion board.

Good luck..
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