Spongetech Delivery Systems, Inc. (fka SPNGQ)

[shajandr]

JAY PATRICK BOOTH - SPNGQ and HGENQ total loser and deranged fool.

[shajandr]

JAY PATRICK BOOTH begging to felch STEVEN MOSKOWITZ

[shajandr]

JAY PATRICK BOOTH offering to felch STEVEN MOSKOWITZ in exchange for some SPNGQ soap-infused sponges.

[shajandr]

JAY PATRICK BOOTH - insane clown

[shajandr]

JAY PATRICK BOOTH - SPNGQ and HGENQ total loser and atherosclerotic timebomb

[dlewisfl]

Is the 10k out yet? Asking ... for a friend.

[Smallville]

get some therapy

[shajandr]

JAY PATRICK BOOTH - atherosclerotic timebomb

[shajandr]

JAY PATRICK BOOTH - asshole idiot

[shajandr]

JAY PATRICK BOOTH - insane clown

[shajandr]

JAY PATRICK BOOTH - investor failure

[shajandr]

Did STEVE MNUNCHIN ever gett back to ya?

[shajandr]

JAY PATRICK BOOTH - perennial bagholder

[shajandr]

JAY PATRICK BOOTH - owner of 100% LOSS subpennyscam turd stocks iike SPNGQ and HGEN.

[shajandr]

JAY PATRICK BOOTH lost it all on SPNGQ and then LOST it all again on HGEN

[alchemytrader]

i lost 9k on my first stock ever. PGIE oil company scam. I was bag holding and got out on a big billion dollar oil contract in Africa. "AFRICA"...lol.

went from like .001 to nearly .01. the company also announced a "special dividend" for shareholders.

got back in next day because i was drunk on kool-aid (weren't we all?). then got dumped on and held till .0001 before selling.

i still have those worthless dividends in my Etrade account because they are restricted and impossible to wipe. it reminds me of how stupid i was 12 years ago.

[shajandr]

JAY PATRICK BOOTH - pennyloser

[shajandr]

When will JAY PATRICK BOOTH bring the sop-infused sponges and the 2009 10-K?

[shajandr]

JAY PATRICK BOOTH my send another letter to STEVE MNUNCHIN.

[TheFinalCD]

SPNG was the very 1st stock I ever bought

so take it ez


I lost over $100k

but happy to tell you I made 20x that back by staying in the market

[Teflon2Insults]

Seeing this old bookmark I just had to see what was up....(also I use this as a lesson in some college finance courses I teach).....I am amazed - there really are so many still involved and consumed with this! Listen - it wasn't even that complex - or certainly not conspiracy - basically a few penny stock scammers hit a big one out of the park. You invested in a stock that had no substance, no business. You ignored all the many warnings made by many - and somehow, someway - felt others would protect you after the fact - and your greed and delusion would just be overlooked. Some may have learned....others got consumed and lost much more than money. Not those perpetrating or prosecuting....they went on with life.

[Teflon2Insults]

Yup....he's Robin Hood....takes from the rich and gives to the not so rich...or friends and lawyers....its all the same. He's just a nice guy....he lies ... but who doesn't...and as long as he believes it then it isn't such a lie....He would NEVER break into your house or take a gun and steal your valuables...he'll just talk you into giving to him willingly....and all the time making sure you understand it is a risky thing to invest in....

[Teflon2Insults]

Really...you bought a penny stock in a company that had no actual product (a sponge?) or actual sales...certainly, NONE to qualify for the the claims - or to make all the - being provided at the time - questions and warning...you know like the 1 bay garage in some place to handle the required hundreds of trucks -or equipment to manufacture - or personnel to make...or the actual timely reporting as required - or anything but you not trying to figure out anything but how your GREED could make anything but instant riches a reality.....

[Teflon2Insults]

Trust me - and yes, I have all the right qualifications - and more important - experience to comment. When SPNG "happened" it absolutely could NOT be done. The IRS position has softened - making it sort of possible, but be entirely prepared to defend it enough to at least avoid a penalty for doing so. And I suggest the one claiming he had it successfully done...actually only filed and had his return processed. They have not actually looked at, reviewed or OKd the handling....which they most likely would challenge if they do - and have plenty of time to do so.

Lets be clear the difference your trying for is the tax rate difference between Investment Losses and Capital Asset losses. It isn't really huge. There are many reasos they will deny the theft claim on a security: A big one is a practice that covers more than this - something you bought through a middleman - (the stockbroker) - and delivered - can not be a theft (unless someone actually stole the stock from your portfolio itself). This rue encompasses so much more than this it is something they are not going to want to give up on. And you can probably see good reason for it. (The complexities of their reporting being fraudulent NOT being a theft of the security - also plays against the claim). (You still actually have the agreeably non-existent) stock. It isn't stolen. It lost value. And in that world - they ae allowing you the loss....the same category they would have allowed the gain (and will allow you to offset this loss against. They aren't disallowing you the loss!) Also at this point - if you could make the claim it would be time barred as the applicable period for claiming it is when the theft occurred....it is not open to an option. If you want to try and file a corrected return - out of statute, etc...it will be something between denied because they have no authority to act on it...ot worse...open it and all years up to review and extension of the tolling of the statute of limitations....

Here some copy paste of legal/tax things: Whether investment losses from fraud should be treated as capital losses or theft losses when the stock is purchased through a stockbroker is currently undecided for tax purposes. Many recent court decisions have denied such theft losses citing, in part, a need for direct privity between the victim (taxpayer) and perpetrator of the fraud when a stockbroker is used. However, both Rev. Rul. 2009-9 and Rev. Proc. 2009-20 describe the IRS’s position on theft losses from fraud; and that position may be softening.

Depending on the circumstances, losses on investments due to fraud may be treated as a casualty loss, as a capital loss, or as a return of capital. Normally, worthlessness of investments or the loss on their disposal would be a capital loss. Taxpayers would generally not favor having phantom income from a Ponzi scheme classified as a return of capital because the statute of limitation on refunds may have expired for the early years of the scheme and because the courts are divided on this issue. Where a fraud exists, however, the loss may qualify for theft-loss treatment.

To deduct a theft loss, the taxpayer must have something that can actually be taken (like money) rather than the mere (and perhaps false) promise that an asset exists. A reduction in the resale value of property and other indirect effects of thefts would not normally produce a deductible casualty loss.

[lucky, mydog]

lol. just for the record;

https://archives.fbi.gov/archives/newyork/press-releases/2011/marketing-company-executive-pleads-guilty-to-perjury-in-connection-with-investigation-of-spongetech-delivery-systems-inc

[shajandr]

Nuffin here butt JAY BOOTH's losses

[shajandr]

JAY PATRICK BOOTH's report to be released on 2-ply Charmin rolls.

[cowtown jay]

John Durham's report is to be released at 4pm E.

I look forward to it, finally. For me, at issue is the abuse of discretionary authority vested in unelected government bureaucrats.

Rather than the SEC returning recovered funds to injured investors, as they are chartered to do, they took our money and transferred it to the US Treasury.

[shajandr]

CONtact JAY PATRICK BOOTH with all SPNGQ claims.

[shajandr]

Don't forget to send your claims to JAY PATRICK BOOTH and he will refund your money.

[tedgoeseast]

I ment sponge tech not song haha yes I bought it when they had the billboards up at the baseball games

[TheFinalCD]

lol nice way to start....did you buy any sponge?

[tedgoeseast]

I bought song too in 2008 I think for .10 and sold it for .28 and it was my first Penny stock ,then I bought ioca for .0003 and sold it for .0017 was my second penny stock

[TheFinalCD]

around 6 figures, but SPNG was my very first stock ever, what timing huh

newbie loses his shirt on the first stock ever invested in

took me years to recover, but I learned a very valuable lesson

[alchemytrader]

im watching a video on this. how much did you lose?

[shajandr]

Send the complaint to JAY PATRICK BOOTH at the CONtact info in the iBox.

[badshah]

Has anyone invested in SPNG in the past successfully filed a "theft loss" in their 1040 and got it approved by the IRS ? I have not been successful (tried thrice). I believe the IRS looks at the following case and dismisses any claims for a theft loss...one person on this board had claimed they filed for a theft loss successfully, quite a while back...comments ?

ORLAN v. SPONGETECH DELIVERY SYSTEMS, INC.

Excerpts…

The FAC alleged that, from June 12, 2009 through September 29, 2009, Halperin prepared ninety-two attorney opinion letters containing materially false and misleading statements and omissions directing transfer agents to remove restrictive legends from restricted Spongetech stock and causing those shares to flood the market at artificially inflated prices. (See First Consolidated Amended Class Action Complaint ("FAC"), Dkt. Entry No. 46, Le et al v. Spongetech Delivery Systems, Inc. et al, 10-cv-4104.) According to the FAC, at the time he wrote the attorney opinion letters, Halperin knew that these Spongetech shares were unsaleable and not subject to any exemptions that would render removal of those restrictive legends proper. (Id. at ¶ 172.) The FAC further alleged that, in preparing those attorney opinion letters, Halperin facilitated the dumping of 2.5 billion shares of unregistered Spongetech stock onto the public market at artificially inflated prices which Plaintiffs purchased and sold in reliance on the representations in the attorney opinion letters. (Id. at ¶¶ 172, 174.)

[shajandr]

JAY PATRICK BOOTH's advanced vascular degeneration will get him an in-person appointment with alanc, as STEVE MNUNCHIN and STEVEN MOSKOWITZ have nott responded to JAY re: SPNGQ. Now he will join alanc.

[shajandr]

JAY PATRICK BOOTH is waiting for STEVE MNUNCHIN to return his many calls.

[LessIsMore]

Hello Jay,

Have you set a date for your upcoming meeting with Loretta Lynch?

Staying tuned!

[TheFinalCD]

Im still trying to grasp what happened to my money

Message in reply to:
. Dont buy a stock based on hype...buy it on fundamentals and what you are willing to lose. With spng...hard to lose....easy to grasp the fundamentals.

[shajandr]

JAY PATRICK BOOTH, President of STEVEN MOSKOWITZ Fanboi Club

[shajandr]

JAY PATRICK BOOTH is working on a price parity model for SPNGQ.

[shajandr]

JAY PATRICK BOOTH is waiting for a reply from STEVE MNUNCHIN.

[shajandr]

JAY PATRICK BOOTH is a chucklehead.

[shajandr]

JAY PATRICK BOOTH - founder of the STEVEN MOSKOWITZ Fan Clubb.

[shajandr]

STEVE MNUCHIN is ...

Yeah.

[shajandr]

JAY PATRICK BOOTH needs to hear from you if you lost munny in the Spongetech scam. He is working a deal with STEVE MNUNCHIN to make you whole (with interest).

[shajandr]

JAY PATRICK BOOTH lost a bundle in this scam. CONtact him to recover your munny.

[shajandr]

STEVE MNUNCHIN has stonewalled JAY PATRICK BOOTH of Rhome, TEXASS. It is obvious that STEVE MNUNCHIN is part of the worldwide anti-SPNG CONspiracy that involves the Vatican, Queen Elizabeth, the World Bank, the United Nations, GEORGE SOROS, VLADIMIR PUTIN, the ECB, the BOJ, the BOC, the Banque f Canada, the Saudi Royal Family, WARREN BUFFETT, XI JINPING, AYMAN AL-ZAWAHIRI, the Rothschild Family, CBS News, TED TURNER, ROGER GOODELL, the estate of HOWARD COSELL, the Bolsheviks, and STEVEN TYLER of Aerosmith.