Hello, Fire Lane
Regarding that Olde Monmouth letter, which stated, in part, "...Olde Monmouth received a telephone call from a broker who was doing due diligence on a purchase of Spongetech shares by a client. In response, Olde Monmouth supplied the broker with a copy of the opinion letter which it had received and on which it had relied. Apparently there was some discrepancy between what the broker had been previously given and what Olde Monmouth supplied..."
Compare that to what is stated in Pensley's Opposition. "...Based upon his (Pensley's) belief at the time that he must have issued some opinions, Pensley made numerous misstatements (to the SEC), giving unsupported conclusions and suppositions as statements of fact as to what he had done in 2007. Pens. Decl. Par. 15 -17, 20, 21, 23, 26, In fact, after he examined the Agent’s records, it became increasingly clear that Pensley had issued no opinions..."
My question is, if Pensley had not issued any previous SpongeTech opinion letters, as he now asserts, then how could a broker have noticed some type of discrepancy? ALL of the opinion letters would have been based on Pensley's spin-off draft letter, and ALL of them would have been sent electronically from the same source.
