Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

Sponge Digger......sounds official.
Found something that should firm up the issue at:
http://www.pinksheets.com/pink/otcguide/brokers_211.jsp

"The following are selected from a compilation of questions and answers relative to SEC Rule 15c2-11 and Schedule H of the FINRA By-Laws. The complete Q&A can be found in FINRA Notice to Members 92-50."

Question #10: Is the issuer required to be current in its filings with the Commission in order for the broker/dealer to utilize Rule 15c2-11(a)(3)?

Answer: Yes. Issuers that meet the requirements of Rule 15c2-11(a)(3) are those issuers that report to the Commission and are current in their reports. The broker/dealer must have the issuer's latest form 10-K and all subsequent form 10-Qs and those Form 8-Ks filed within five business days prior to publication or submission of the quotation. If the issuer has not filed a Form 10-K, the broker/dealer must have a copy of the prospectus, which has been in effect less than 16 months, and all subsequent Form 10-Qs and Form 8-Ks. If a filing is due at the Commission prior to FINRA's clearance of the Form 211 application, that filing must also be submitted with the application.

Question #11: What happens if an issuer is not current in its filings with the Commission?

Answer: If the issuer is not current in its filings with the Commission, the broker/dealer can seek to satisfy another subsection of the rule. Usually this would be Rule 15c2-11(a)(5). However, the fact that the issuer is not current in its filings may bear upon the determination of whether the available information is materially accurate.



footnote:
(a)(5) NON-REPORTING AND ALL OTHER COMPANIES
The applicant must make the Issuer information filed in conjunction with section (a)(5) of this form available upon request to any person expressing an interest in a proposed transaction with the subject security filed. Provide the Issuer’s most recent balance sheet, profit and loss and retained earnings statements, equivalent financial information for the two prior fiscal years for the Issuer or any predecessor company, and the documents that support the information provided
in this form.