KLee: SPNGQ has traded 5 days out of the last 50 trading days so even though the stock has not yet been revoked the SEC effectively accomplished a similar objective of protecting potential investors by forbidding any Market Maker representation, ie., the Grey Sheets. Revocation merely changes the death throes of being on the Grey Sheets to the death knell of no more trading whatsoever, and forever.
When company principals like Moskowitz and Metter and the so-named accomplices use the public company Spongetech to defraud investors by selling several billion illegally exempted from registration shares, to defraud numerous National Sports Teams, to submit materially false information in SEC Financials and other 8-K Filings it is those company principals who destroyed Spongetech and not the SEC.
The sponges were the concocted utility to defraud everyone and (the sponges) were never intended to make Spongetech a legitimate or viable company. Why is that premise diffucult to comprehend?
Spongetech was NEVER intended to be 'America's Cleaning Company'.
Spongetech WAS intended right from conception to be America's Fleecing Company by all means fraudulent.
Not much different than a counterfeiter laundering counterfeit money....absolutely no legitimacy whatsoever, and despite the authorities destroying the counterfeiter's business the business should not have existed in the first place.
To bite the worm of incite is to bite the HOOK of the antagonist . They win .
