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Stock Ideas Wall Street Stock Ideas Stock SPNG price target of $0.19
Stock Ideas Wall Street Stock Ideas Stock SPNG price target of $0.19 
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| Stock SPNG price target of $0.19 |
| Friday, 15 August 2008 | ||||||
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SPNG designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech's proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. SPNG has created a sponge that holds enough soap inside to wash 8 cars! Imagine, one sponge being able to wash 8 cars! Not only that but the sponge is biodegradable with makes SPNG very green friendly. SPNG has had very good publicity thus far. SPNG's sponge was featured on the Price is Right as well as "The Balancing Act," a daily morning talk show original, half-hour series for working women on Lifetime Television. Lifetime and the Price is Right both get millions of viewers! Just last month SPNG had Promotional Day at Yankee Stadium. SPNG distributed key chains to the first 18,000 fans over 21 in attendance. These key chains commemorated the Yankee's final season at the old Stadium. SPNG's Chief Operating Officer, Steven Moskowitz said, "Being huge New York sports fans, we felt this was a great way to mainstream our name and support the New York Yankees(TM). This has been a positive way for many people to become familiar with SpongeTech and encourage them to try our products to experience the value of our patented technology." SPNG's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. Since the wash and Auto wax are built in SPNG's sponge, you apply both products in one easy application in 30 minutes or less with professional results, while no longer having to buy separate expensive washes, waxes, and sponges. A 1997 report claimed that in that year, over 600 million motor vehicles existed in the world. It went on to predict that if the existing trends continued, that number would double in the next 30 years!! It's probably over 1 billion now. With the amount of vehicles expected to double in the next 30 years, there is no telling how huge SPNG could become with this massive market. SPNG has started a new advertising campaign on Cable TV. They are launching two new commercials: one 60-second spot and one 2-minute spot for its Uncle Norman's Pet Sponge(TM). They expect to reach over 100 mil homes. The commercials will begin airing today on a variety of cable networks. embedded into SPNG's Pet Sponge are 1) shampoo, 2) coat conditioner, 3) odor inhibitor and massage bumps. SPNG's Pet Sponge can get up to 8 washes! SPNG's current product line is designed for Car Care and Pet Care, however, the company is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children. Make sure you add SPNG to your watch list as it could move fast, and always do your own research. More information on SPNG is available at their website: www.spongetech.com
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