San Diego, CA 7/10/2009 8:01:30 PM
SpongeTech, Syndication - When Pumping Pays Off
SpongeTech Delivery Systems, Inc. (SPNG) shares rebounded late yesterday on news of the Dicon acquisition, while Syndication, Inc. (SYNJ) shares just rebounded.
Syndication, Inc. (SYNJ) and SpongeTech Delivery Systems, Inc. (SPNG) were two of the market's most popular penny stocks on Thursday, according to an analysis of yesterday's trading activity. Though both technically closed lower for the day, SpongeTech found a buying crowd after announcing strong July sales result and the acquisition of Dicon Technologies, while Syndication's mid-day recovery may have largely been the result of a stock-pumping effort.
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The acquisition of Dicon Technologies will immediately open new distribution channels for SpongeTech. Though Syndication is technically a conglomerate, the bulk of the company's recent business focus has been the Pinnacle Energy division.
About SpongeTech Delivery Systems, Inc.
SpongeTech Delivery Systems, Inc. (SPNG) is a company which designs, produces, and markets unique lines of reusable cleaning products for Car Care, Child Care, Home Care and Pet Care usages. These sponge-like products utilize SpongeTech(r)'s proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponge-like products are pre-loaded with specially formulated ingredients such as soap, conditioner and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech(r) is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech(r) Delivery Systems, Inc. intends to globally brand its Company as America's Cleaning Company(tm).
About Syndication, Inc.
Syndication, Inc. (SYNJ) is a consulting company formed to acquire controlling interests in or to participate in the creation of, and to provide financial, management and technical support to, development-stage businesses, e-commerce businesses and traditional brick-and-mortar businesses. The Company has no restrictions or limitations in terms of the type of industry that it intends to focus its activities on. In June 2007, the Company organized Sy-Med Decompression, Inc. (Sy-Med) as a wholly owned subsidiary of the Company. On February 1, 2008, Sy-Med was opened for business under the name of Spinal Decompression and Disc Centers of America. Spinal Decompression and Disc Centers of America is engaged in the business of providing a non-surgical treatment option for patients with back pain due to lumbar disc herniation, degenerative disc disease, sciatica, facet syndrome and spinal stenosis.
Forward-Looking Statement: This press release may include or imply "forward-looking statements" within the meaning of the federal securities laws, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Although the Company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Important factors that could cause actual results to differ materially from the Company's projections and expectations are disclosed in the Company's filings with the Securities and Exchange Commission. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions.
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http://community.smallcapnetwork.com/Penny-Stocks-Everybody-Wanted-Yesterday-Why-SPNG-SYNJ-BEHL-WRGL/s/article/view/p/mid/2/id/44/
