Spongetech Delivery Systems Inc. - SPNG

[Stock_Analyzer]

Seems to be that .023 .022 is support lately on SPNG with .03 being pretty solid resistance

[Stock_Analyzer]

SpongeTech(R) Delivery Systems, Inc. Hits Grand Slam!
Thursday September 18, 1:42 pm ET
SpongeTech(R)'s Auto and Pet Sponge Sales Hit a Grand Slam over the Past Few Days


NEW YORK, Sept. 18 /PRNewswire-FirstCall/ -- SpongeTech? Delivery Systems, Inc. (OTC Bulletin Board: SPNG - News) is pleased to announce that this past weekend the company started an aggressive marketing campaign utilizing the combined values of Howard Stern, Chris Russo, and NASCAR Radio on SIRIUS Satellite Radio. As a result of this, coupled with our aggressive TV advertising, SpongeTech? has booked in the past five days over $1,000,000 in gross internet sales. We are extremely excited about how we are positioning and marketing our product, and feel very strongly that we are on our way to another record quarter. This, combined with our on hand orders that will be shipped this year, could bring our total revenue in excess of $35,000,000, with a proportionate EBITDA to last year's P/L.
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Our Stock Buyback

With such a volatile stock market comes tremendous opportunity. In light of that, coupled with the change in the SEC shorting rules, the Board has decided to increase our corporate stock buyback in the open market from 25,000,000 shares to 50,000,000 shares effective immediately. We have to date purchased in the open market over 10,000,000 shares thus leaving 40,000,000 more shares to buy. We will continue to communicate with our shareholders, and we thank you all for your support.

Michael L. Metter SpongeTech? CEO

Steven Y. Moskowitz SpongeTech? COO

For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: Spongetech - The ultimate car wash and car wax .

About SpongeTech? Delivery Systems, Inc.

SpongeTech? Delivery Systems is a development stage company, which 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. The Company'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. The Company's current product line is designed for Car Care and Uncle Norman's(TM) Pet Sponge, however, SpongeTech? 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.

"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.


Contact:
SpongeTech? Delivery Systems, Inc.
Investor Relations:
Bill Young, 1-877-776-6438
wayoung55@aol.com or info@spongetech.com

The Investor Relations Group
212-825-3210
Investor Relations: Rachel Colgate or Michael Crawford
Media Relations: Steven Melfi / Lynn Granito




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Source: SpongeTech Delivery Systems, Inc.

[Stock_Analyzer]

If we break .025 on the bid then .0279 is next up for a "day" trade tomorrow

[tradethechart]

For all the penny stock players, we have not forgotten you! We believe we have a potential 100% gainer on our hands in SPNG.


Trade without Emotion - Learn to trade for profit - SPNG

[Stock_Analyzer]

Until we break .03 on the bid side then keep looking for low .02s as support then a move to .027 or so

[Stock_Analyzer]

Resistance at .028 .03 then maybe .0311 .034 upcoming. Nice bounce again off .02 ranges

Until we break .03 on the bid side then keep looking for low .02s as support then a move to .027 or so

[Stock_Analyzer]

BOOM, nice ride here. Resistance now at .038 .04 .046 ahead and support at .03 .0245

Until we break .03 on the bid side then keep looking for low .02s as support then a move to .027 or so

Resistance at .028 .03 then maybe .0311 .034 upcoming. Nice bounce again off .02 ranges

[Stormy]

When nine-tenths of the nation

[Technical_Indicator]

That's a great move by SPNG, I really would like to see this stock continue all next week toward the .46 range.

[Stock_Analyzer]

After yesterdays doji candle we may be setting up for a pullback here. Watch .031 .026 as some support below. Resistance at .042 .044

Until we break .03 on the bid side then keep looking for low .02s as support then a move to .027 or so