Spongetech Delivery Systems Inc. is a great start-up and penny stock for those who don't mind a little risk. The company creates chemical-infused sponges for washing cars. The sponges have the soap and wax built in and can be reused around 8 times per sponge. The engineering for this product was extensive and involves much more than just shooting soap into a sponge. Go to the website to check it out. With a patent for the technology used to create the sponges, Spongetech is sitting on a product with an extremely large growth potential. While the company is securing orders from Wal-Mart-Mexico, among other south-eastern customers, they are planning on applying the technology to produce cleaning products for pets, around the house, and other recreational vehicles. Landing a company such as Wal-Mart, even though it is just in Mexico, is the launching pad to acquiring supply agreements with US Wal-Mart stores, as well as companies such as Autozone, Home-Depot, Pep-Boys, Sam's Club, Costco, and BJ's. As long as the company is able to expand production capabilities to meet the increase in supply orders, they should be poised for a launch in their stock price. They have already led strong ad-campaigns through the Yankee's stadium and I believe the Red-Sox's stadium (not really sure about Red-Sox). I expect the company to ramp-up marketing in the short-term and leverage the Mexico Wal-Mart account into bigger orders with larger customers.
$0.0491 (06/30/08)
