Spongetech Delivery Systems, Inc. (fka SPNGQ)

[dpilon]

Why SEC wants OUR 526M SpongeTech shares if 'worthless'?

SPONGETECH SHAREHOLDERS CLAIM TO FORFEITED STOCK
"...On April 20, 2009, SpongeTech released a 10Q which claimed the cancellation of over 526 million shares of the company's stock. This would have reduced the number of Outstanding Shares (OS) from 1,249,451,605 shares, to 722,866,601 shares. Moskowitz was the person who controlled the flow of shares. These shares have not been officially retired, and may still remain UNDER MOSKOWITZ'S CONTROL..."

http://www.scribd.com/doc/234451985

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SEC CLAIM TO FORFEITED STOCK
"...WHEREAS, the defendant has consented to the entry and forfeiture of the following: ...

... AND (b) ANY AND ALL RIGHT, TITLE AND INTEREST IN ALL SHARES AND CLASSES OF STOCK OF SPONGETECH DELIVERY SYSTEMS, INC....

... held by the defendant or held in trust for the benefit of the defendant or any of the defendant's family members, including but not limited to those shares and classes of stock HELD BY THE MOSKOWITZ Family Trust (collectively, the "Forfeited Stock"), pursuant to..."

http://www.scribd.com/doc/217659954