END OF WEEK UPDATE

Our big winner of the week is a Pincher Play - NCS

NCS closed on 6/19/09 @2.09

NCS closed on 6/26/09 @2.84 for a 35% weekly gain.

Indicators are still in good condition and with the volume spurt that accompanied the PPS rise I believe there is still room for NCS to run.

The 20 dma is @2.93 and if we can get thru that and the markets cooperate we can possibly see $4.00 as our next resistance.

Don't forget to pocket some profits to ensure a positive trade after this much gain.

HANS - closed 6/19/09 @30.77 and finished this week by closing @31.77 for a small 3% weekly gain.

HANS has not had the needed volume to break this pincher wide open but indicators are still heading in a positive direction and if we can break thru the 200 dma and the 20 dma we can possibly see HANS run till our next resistance at 34.23.

HANS remains on our watch list.

FUQI - appears to be in a consolidation phase and has yet to retest it's 52 week high.

It appears FUQI may have formed a shabby double-bottom.

Indicators have taken a turn for the worse.

FUQI is NOT A BUY unless it breaks a New 52 Week High on Higher Volume.

WNR still remains on my Pincher watch list. 

WNR closed 6/19/09 @ 7.57

WNR closed 6/23/09 @ 7.20 for a slight loss.

On 6/24/09 WNR was upgraded from HOLD to BUY by Soleil Research Firm.

Indicators are still heading in a positive direction and WNR remains as a top play on the watch list.

ABIO is a BioPharmaceutical play with very low volume.

ABIO closed 6/19/09 @2.94 and closed 6/23/09 @2.92 for a slight loss for the week.

ABIO still remains on our Pincher watch list.

BIG NEWS RELEASED TODAY!!!!!!!!!!!!!!!!!!!

MICHAEL JACKSON - DEAD

FARRAH FAWCETT   - DEAD

SPONGETECH - RAISED AUTHORIZED SHARES COUNT ,,,,,AGAIN

(not really news but I thought I would mention it)

Another Excellent Press Release from Spongetech - hahahaha

This sentence from the Press Release says it all,,,,,,

"The newly reported orders include SpongeTech® receiving an initial purchase order with a new major retailer in Canada."

ANOTHER UNKNOWN FOREIGN COMPANY MAKING PURCHASES FROM SPONGETECH.

I guess we will not be getting their contact information either.

I also noticed that as usual there were no figures attached to this Initial Order.

Always hiding information.

First sign of a SCAM.

http://finance.yahoo.com/news/SpongeTech-Delivery-Systems-bw-2380272355.html?x=0

Stocks to Watch this Week

Here are some stocks I am watching for plays on for the coming week

FUQI - Fuqi International, Inc.  

A Chinese Nasdaq listed stock

Been on a huge run since early April. Just had a nice 31% pullback and finished the week with 2 positive days with volume increasing both days.

If FUQI breaks it's last high of $19.47, and triggers a New 52 Week High on continuing volume, that will make it a buy and we should see plenty more upside.  

While FUQI has not formed a valid base to launch another run from,

Indicators have turned positive and this stock bears close watching.

The only problem I can see for FUQI is if North Korea fires any missiles at China due to China possibly intercepting a North Korean ship said to be carrying Nuclear Materials.

This could cause problems.

Another stock I like is -

HANS - Hansen Natural Corp.

HANS is showing all the signs of a major pincher movement about to happen.

HANS has dropped aprox. 30% in the last month and all indicators are showing a turn for the better.

I would like to see volume increase as it breaks thru it's 200ma

Several other pincher plays to keep an eye on this week are ABIO, WNR and NCS.

So,, You Wanna Lodge a Complaint Against Me???? Ok

Here is what one poster on the SPNG Yahoo Message Board has to say -

"Bashers Are so Desperate Right Now! 18-Jun-09 12:15 pm The SEC investigation claim is the most absurd fluff I have seen yet. Moe Speeks apparently got creative and contacted a rep from the SEC by email (similar to filing a police report by the way) - only so he could use the contact information as propaganda in his lies. Contact the SEC if you have any doubts -- there is absolutely zero investigation and zero grounds for one. If you read any message board for any publicly traded stock, you will always have liars and bashers working against your interests. I have already reported Moe Speeks for his intentional, illegal and abusive manipulation of SPNG."

If you wish to report me to the SEC please do not use the standard email address and complaint form, use this phone number. 

202-551-4591

It is the direct office number for the SEC Lawyer who called me and took my information.

Call Margaret Cain and lodge an official complaint against me.

While you are at it, ask her if the emails that I posted from her are fake.

Ask her if she did not call me.

She won't tell you, but you can always ask.

Tell her I said hello.

Thank You - Moe Speeks

More Spongetech Deception

I ran across a post on the Yahoo Board from a poster going by the name of AngusDoctor.

Very keen eye this person has as this particular piece of evidence escaped my notice.

It would seem our very own Michael Metter and Steven Moskowitz need to read the company's Code of Business Conduct and Ethics again. (see earlier post)

________________________________________________________________

In a Press Release issued on April 15, 2009, Spongetech states , 

NEW YORK, April 15 /PRNewswire-FirstCall/ -- SpongeTech® Delivery Systems, Inc. America's Cleaning Company(TM), (OTC Bulletin Board: SPNG - News), today reported record sales of over $13,000,000 for the third quarter ending February 28, 2009. Revenues for the period increased by $11,859,353 over revenues reported for the same quarter last year. Net income for the third quarter of 2009 was over $2,250,000, compared to a net loss of $188,482 for the comparative 2008 quarter; reflecting exponential growth over the same period last year.

That is HUGE news for shareholders if I must say so myself.

Unfortunately,,,,,, in the 10Q released 5 days later on April 20, 2009 it states on page F-4 in the section "Statements of Operations - Unaudited"

  STATEMENTS OF OPERATIONS

Unaudited

		For the three months ended
		February 28, 2009				February 29, 2008
Revenue		$	13,164,277			$	1,281,704
Cost of goods sold			6,809,354				174,022
Gross profit			6,354,923				1,107,682
Operating Expenses
Advertising and promotion			3,694,677				738,760
Selling, general and administrative			330,801				176,104
Research and development			3,125				0
Depreciation and amortization			33,257				4,336
Total operating expenses			4,061,860			919,200
Income from operations and before provision for income taxes			2,293,063				188,482
Provision for income taxes			779,641				0
Net income		$	1,513,422			$	188,482
Net income per share from continuing operations:
Basic and diluted		$	.00			$	.00
Weighted average number of shares outstanding:
Basic and diluted			1,096,245,460				115,056,086

The accompanying notes are an integral part of these statements

 

F-4

__________________________________________________________________________________________

I do not know about you people but I can detect the faint scent of deception regarding this Press Release and the 10Q.

It seems extremely obvious to me that in no way shape or form can you confuse the two figures that I have texted in blue.

One says - Income from Operations,,, and one says NET INCOME

Income from Operations is over $2,250,000.

NET INCOME is only $1,513,422

The Press Release stated NET INCOME WAS OVER $2,250,000

You see how it works is like this,,,,

first you have your Income from Operations,,,, then you pay income taxes on your Income from Operations,,,,,,,AND THEN YOU CALCULATE YOUR NET INCOME.

I don't know, maybe it is just me, maybe I am nitpicking???????

Or maybe I expect the Officers of a Public Company to be Honest and Straightforward with shareholders.

But what do I know????? I'm just Moe

_______________________________________________________________

Special Thanks goes out to AngusDoctor for the orignal post which can be found in the links below.

http://finance.yahoo.com/news/SpongeTechR-Delivery-Systems-prnews-14931119.html?x=1&.v=1

http://www.sec.gov/Archives/edgar/data/1201251/000114420409021409/v146656_10q.htm

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_S/threadview?m=tm&bn=63817&tid=143881&mid=143881&tof=8&frt=2

I found this information to be very funny

I found these statements on the Spongetech Website in their Code of Business Conduct and Ethics section . They gave me a good laugh.

• This Code is intended to focus the Board and each director and executive officer on areas of ethical risk, provide guidance to directors and executive officer to help them recognize and deal with ethical issues, provide mechanisms to report unethical conduct, and help foster a culture of honesty and accountability. Each director and executive officer must comply with the letter and spirit of this Code.
  
• Directors and executive officers must be loyal to the Company and must act at all times in the best interest of the Company and its shareholders and subordinate self-interest to the corporate and shareholder good. Directors and executive officers should never use their position to make a personal profit. 
• Directors and executive officers must protect the Company’s assets and ensure their efficient use. Theft, loss, misuse, carelessness and waste of assets have a direct impact on the Company’s profitability. 
• Directors and executive officers should promote ethical behavior ( hahahahahha that's a good one)

Moskowitz must of been out sick the day this was discussed and instituted as policy.

Read them all over and have a good laugh like I did.

http://www.spongetechs.com/v/vspfiles/code.asp