Spongetech Delivery Systems, Inc. (fka SPNGQ)

[cowtown jay]

And yet another SEC Litigation Release related to SpongeTech.

"The Securities and Exchange Commission has charged Proteonomix, Inc., a New Jersey biotechnology company, and Michael M. Cohen, the company's Chief Executive Officer, with securities fraud and other violations."

http://www.sec.gov/litigation/litreleases/2015/lr23201.htm

Remember Mr. Cohen? Remember Vanity Events?

Name of Beneficial Owner (1)
Common Stock Beneficially Owned
Percentage of Common Stock
Michael Cohen
146,047
*
Ronald Cosman
146,047
*
Frank Lauzaskas
847,072
5.3%
Steven Moskowitz (2)
1,212,773
7.5%
Highland Global Partners, Inc.
2,500,000
15.6%

All executive officers and directors as a group (consisting of 4 individuals)
2,351,939
31.62%

http://www.nasdaq.com/markets/ipos/filing.ashx?filingid=5809242

Will Proteoderm be next?