Spongetech Jumps on Nationwide Campaign Success
Spongetech Delivery Systems Inc. [[SPNG.OB]] shares moved sharply higher after the company announced increased sales due to the tremendous response to its nationwide television commercial campaign. The new television commercial, which debuted last weekend, highlighted SpongeTech’s easy-to-use and earth-friendly product cleaning systems for the car, children, homes and pets.
The nationwide commercial led to a significant increase in order flow since its initial broadcast on channels like A&E, ESPN, Lifetime, Speed, and the Soap Channel. The company now expects to see aggregate sales in excess of $13 million for the month of March, thanks to the success of the television campaign. Moreover, the success of the commercial should spill over into future months.
“This most recent commercial broadcast is the beginning of a paradigm shift in the company’s marketing strategy,” said Chief Operating Officer Steven Moskowitz. “Our efforts going forward will be to increase consumer knowledge of the diverse and growing products offered from SpongeTech Delivery Systems … With the launch of this commercial, we have seen nationwide interest within our call centers.”
SpongeTech designs, produces and markets a unique line of reusable cleaning products for household use. These sponge-based products use proprietary, patented technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The company’s sponges are specifically designed for specific purposes, like its car sponges with pre-applied wax to the surface.
Shares of SpongeTech rose $0.0042, or 32.09%, to $0.0179 per share in mid-day trading.
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