Once Again I Am Forced to Defend Myself

Once Again I Am Forced to Defend Myself due to the fine people of the Yahoo Message Board.

First and Foremost, let me thank all my readers for your kind words and emails.

Once again I will state for the record that I am in no way involved with Moe.Speaks or Moe_Speeks.

They are impostors who are trying to ruin my reputation.

I am not a Nazi, nor have I ever been a Nazi.

The paid pumpers are a particularly nasty group of people. 

They are paid to rob you of your investment funds.

They will do anything and everything to discredit anyone who says anything even remotely negative about any stock.

I am not going to name any names, my readers know who the pumpers are.

They are the people who have no basis but to tell you to trust the 10q's, trust the PR's, 

call management they say and trust them, they blame the Naked Short Sellers.

Hell, management blames naked short sellers. that right there ought to tell you what is going on.

Any company's story can be read by one simple piece of information, it's chart.

I am not going to get all involved in this post. I do not have the energy at the moment.

All I will say is this -

If you wish to believe I am a horrible person, be my guest.

If you wish to read my posts which are filled with FACTS, and nothing but facts,  

I am more then certain you will come to the same conclusions that I have.

and that is - SPNG is nothing but a share selling machine. 

They are more concerned with selling shares to investors than they are with

selling sponges to customers. And the chart and PPS will bear that statement out.

Thank You - Moe Speeks

TO MY READERS

I understand you encouraging me to go on the Yahoo Boards and defend myself but I will not take part and lend credence to what is happening over there. I refuse to give those people any attention at all. 

I ask of my readers that they also refrain from engaging in this pointless banter.

ALL THOSE PEOPLE ARE TRYING TO DO IS TO DISCREDIT ME DUE TO THE FACT THAT I AM MAKING A DIFFERENCE WITH MY BLOG POSTS AS I EXPOSE THE FACTS OF SPONGETECH.

Thank You ,,, The Real Moe Speeks

READERS PLEASE BE AWARE!!!!!!!!!!

It has come to my attention that there are at least 2 individuals on the Yahoo Financial Message Board for Spongetech who are using phony ID's pretending to be me.

One is listed as Moe.Speaks and is trying to pump the company and the stock.

The other is listed as Moe_Speeks and is claiming that I hate Jews and that Adolf Hitler is my hero.

THIS IS ALL COMPLETELY FALSE INFORMATION.

I have no interest in Adolf Hitler.

The man was a maniac.

My only interest is in spreading the truth concerning Spongetech.

Please disregard any and all posts on the Yahoo Message Boards.

My original screen name on Yahoo was Moe.Speeks.

It is no longer active due to the efforts of the Pumpers. 

They somehow had me banned.

I WILL NOTIFY MY READERS OF MY NEW YAHOO SCREEN NAME BY WAY OF THIS BLOG WHEN I FEEL ALL THE HEAT AND HUBBUB HAS DIED AWAY.

UNTIL THAT TIME PLEASE DISREGARD ANY AND ALL MESSAGES ATTRIBUTED TO ME ON THE YAHOO BOARDS.

THANK YOU,,,, MOE SPEEKS

Some Facts about Spongetech that Must be Considered

On December 12, 2009 Spongetech Management raised the Authorized Shares to 1,305,000,000.

as noted in section F-16 of the 10q released on January 14, 2009 for the quarter ending November 30, 2008 -

Effective December 12, 2008, the Company’s Certificate of Incorporation was amended to increase its authorized capital to 1,305,000,000 shares consisting of 1,250,000,000 shares of common stock, par value $0.001, 40,000,000 shares of preferred stock, par value $0.001, and 15,000,000 shares of Class B Stock, par value $0.001.

http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6346743

On March 5, 2009 Spongetech Management issued a Press Release that in part stated -

We are proud to announce that our Company is now cash flow positive and can finance our immediate growth from the cash generated within. We have been in negotiation with two banking institutions that could potentially provide us with accounts receivable financing, if and when needed for the future growth of our Company. However we hope that future cash requirements for product development, marketing, production, and financing of inventories and receivables can and will be generated internally.

http://finance.yahoo.com/news/SpongeTechR-Delivery-Systems-prnews-14549148.html?.v=1

On March 10, 2009 Spongetech Management raised the Authorized Shares to 1,555,000,000.

as noted in this 8-k release -

Effective March 10, 2009, Spongetech Delivery Systems, Inc. (the “Company”) amended its Certificate of Incorporation to increase its authorized capital from 1,305,000,000 to 1,555,000,000 consisting of 1,500,000,000 shares of Common Stock having a par value of $0.001 per share, 15,000,000 shares of Class B Stock having a par value of $0.001 per share, and 40,000,000 shares of Preferred Stock having a par value of $0.001 per share

http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6490538

On April 13, 2009 Spongetech Management raised the Authorized Shares to 1,860,000,000.

as noted in this 8-k release -

Effective April 13, 2009, Spongetech Delivery Systems, Inc. (the “Company”) amended its Certificate of Incorporation to increase its authorized capital from 1,555,000,000 shares to 1,860,000,000 shares consisting of 1,800,000,000 shares of Common Stock having a par value of $0.001 per share, 20,000,000 shares of Class B Stock having a par value of $0.001 per share, and 40,000,000 shares of Preferred Stock having a par value of $0.001 per share

http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6547390

On April 23, 2009 Spongetech Management issued a Press Release that in part stated- 

 is pleased to announce that the Company has signed a Letter of Intent ("LOI") with a bank credit facility for a $5 Million accounts receivable financing. As proposed, the financing would provide the Company with accelerated liquidity for working capital based on the amount of SpongeTech®'s qualified accounts receivable and inventory. Final execution of a definitive agreement with regards to the credit facility is subject to completion of due diligence and negotiation of definitive loan documentation, among other things.

http://finance.yahoo.com/news/SpongeTechR-Delivery-Systems-prnews-15015573.html?.v=1

On May 19th, 2009 Spongetech Management raised the Authorized Shares to 2,060,000,000.

as noted in this 8-k release -

Effective May 19, 2009, Spongetech Delivery Systems, Inc. (the “Company”) amended its Certificate of Incorporation to increase its authorized capital from 1,860,000,000 shares to 2,060,000,000 shares consisting of 2,000,000,000 shares of Common Stock having a par value of $0.001 per share, 20,000,000 shares of Class B Stock having a par value of $0.001 per share, and 40,000,000 shares of Preferred Stock having a par value of $0.001 per share.

The action had been approved on May 18, 2009 by Company stockholders holding a majority of the voting power by written consent in lieu of a meeting

http://www.pinksheets.com/edgar/GetFilingHtml?FilingID=6625928

MAYBE YOU HAPPENED TO NOTICE WHAT HAPPENED ON MAY 19TH OF 2009????????

THE PPS HIT IT'S PEAK,,,, AND BEGAN TO TANK!!!!!!!!!!!!!!!!

Some questions investors should ask themselves before investing their money in Spongetech -

1- Why does Spongetech Management feel the need to Raise the Authorized Shares EVERY MONTH when it's revenues are rising upwards of 1000% year over year?

2- Why is Spongetech Management unable to get a Line-of-Credit for it's Accounts Receivables when it's revenues are rising upwards of 1000% year over year?

3- Why does Spongetech Management feel the need to continue to borrow money for operations from RM Enterprises (which SPNG management owns) at a 40% discount when this does nothing but HURT SHAREHOLDER VALUE?

4- Why does Spongetech Management feel the need to continue to hide their actions behind a Gagged Transfer Agent?

5- WHY?

If any of my readers can answer these question I would love to hear from you.

Thank You,, Moe Speeks

EXCELLENT ARTICLE CONCERNING SPONGETECH

EXCELLENT ARTICLE CONCERNING SPONGETECH

PLEASE READ AND UNDERSTAND WHAT SPONGETECH IS ALL ABOUT

THE ARTICLE IS TITLED -

It's Important to Know Which Stocks Are True Pump and Dumps, Here's A List Starting With Spongetech (SPNG)

http://timothysykes.com/blog/2009/05/27/its-important-to-know-which-stocks-are-true-pump-dumps-heres-a-list-starting-with-spongetech-spng/

MUST READ -TARP The Greatest Swindle Ever Sold

MUST READ -TARP The Greatest Swindle Ever Sold

Excellent article about what our Government is doing to the Taxpayers

""What cannot be disputed, however, is the financial bailout's biggest loser: the American taxpayer. The US government, led by the Treasury Department, has done little, if anything, to maximize returns on its trillion-dollar, taxpayer-funded investment. So far, the bailout has favored rescued financial institutions by subsidizing their losses to the tune of $356 billion, shying away from much-needed management changes and--with the exception of the automakers--letting companies take taxpayer money without a coherent plan for how they might return to viability.""

http://www.thenation.com/doc/20090608/kroll?rel=hp_currently

Spongetech Raises Authorized Shares AGAIN!

It was only a matter of time -

"Effective May 19, 2009, Spongetech Delivery Systems, Inc. (the "Company") amended its Certificate of Incorporation to increase its authorized capital from 1,860,000,000 shares to 2,060,000,000 shares consisting of 2,000,000,000 shares of Common Stock having a par value of $0.001 per share, 20,000,000 shares of Class B Stock having a par value of $0.001 per share, and 40,000,000 shares of Preferred Stock having a par value of $0.001 per share.

The action had been approved on May 18, 2009 by Company stockholders holding a majority of the voting power by written consent in lieu of a meeting."

http://biz.yahoo.com/e/090526/spng.ob8-k.html

As you can see by viewing any SPNG chart, the PPS peaked for a split second on May 19th at 0.056 and then started it's decent,,,, once again. And let us not forget that 0.056 was our peak PPS last time on June 9, 2008. 

It would seem that 0.056 is a HUGE RESISTANCE for SPNG.

or maybe that is just the PPS that management likes to open the floodgates at.

I guess we can safely assume that the Bank Line-of-Credit we heard about on April 23, 2009 is a no-go.

"Final execution of a definitive agreement with regards to the credit facility is subject to completion of due diligence and negotiation of definitive loan documentation, among other things."

http://finance.yahoo.com/news/SpongeTechR-Delivery-Systems-prnews-15015573.html?.v=1

I bet it was the "among other things" clause that got us.

Of course I have no proof of this as Steven Moskowitz will no longer answer my email questions. I can only assume he does not like being quoted in the press.

So lets see, on May 18th 2009 the action to approve the A/S increase passed a vote and on May 19th 2009 the PPS started to TANK!!!!!!!!!!!

What a coincidence.

Damn the luck.

I am going to cut this post short and while you folks chew over these facts I will do some serious in-depth research on dates and figures and Press Releases and I will get back to you, my readers, in due time.

Thank You,,,Moe Speeks