Good post.

Thanks

Sorry, what the O/S are will be "announced" in the Subsequent Events section of the 2009 10K.

It is not listed as an 8K Discosure Event by the SEC for the 8K.

Having a company policy of silence is not gagging, imo. Gagging, on the other hand has to do with the pharyngeal reflex or gag reflex which might result in throwing up.

YES!!!! Now that is in spng's favor. This has to be the result of some legal Emergency Temporary Injunction obtained in the NY Surpreme Court. That is all I can think of. Unless Sykes responded to some cease and desist letter from spng's attorneys. Anyway you look at it, it would appear that the NY Post articles should have been research differently.

I do not know what wil happen on Monday, but with the SEC investigation and the Sykes thing.

Weave: Now I consider this VERY important spng news. some outside source has requested Sykes to pull the spng articles. The website being down, I don't know. All of this seems favorable to spng. Maybe something is happening befind the scenes FINALLY in spng's favor. Just my personal opinion.

Peace and Serenity. Spino

Well, in the case of OR, the securities laws violations would be "other persons" and not the company. In the case of "and" it would include both the company and other persons.

Don't most public companies tell their TA to keep the share structure not available to the public, until the company decides to disclose it?

Fire: I do have to disagree with you. An SEC investigation is not listed on the 8K Disclosure Events. thus, spng voluntarily disclosed it.

The O/S will be determined in the 2009 10K and you should know this by now/. I estimate it to be around 550-500m O/S.

Again you are 100% correct. The list of material events does not include this situation. And companies most of the time do not want the SEC investigation to be public, for obvious reasons -- scard S/Hs who will sell. So it keeeps it quiet, until the SEC does something good or bad.

Thanks. So, from the details you have given it seems you know the participants in this investigation, and maybe one of the persons who complained and asked for the investigation ? Spino

THANK YOU!!! I felt really stupid for not knowing that. Thanks.

Peace and Serenity. Spino

VERY interesting. That certainlky fits. But it's all speculation at this point as to why and what it is about. It would be nice, though if you were right.

Thanks. And what is it used for in connection with this SEC investigation? Any explaination you can give would be appreciated. I'm trying to learn here.

Peace and Serenity. Spino

DTC meaning please?? Thank you

I believe that there are a Billion or so illegal naked shorts. It is possible that this could be an issue with SEC. Not saying it is, but if I were spng, then I would bring it up, as to the floating in space air shares traded daily, keeping the stock price down.IMO Spino

Thank. I hope so. I'm the one who is taking it easy.

What is a "DTC" or "journal of spng stock". Pleasea explain to me. Thank you.

How did you learn about the subject of the SEC/spng investigation?

What PRs have been tagged as "false and misleading"?

I do not understand the other stuff. Do you have details on all those? Spino

And do not keep us in suspense please. What is subject of investigation and how to you know it? Thanks.

Listen, at this point I will agree to disagree with you.

Peace and Serenity. Spino

I should ignore also, but I am just trying to add a little openmindedness here take over until we know what the facts are,

In july the O/S was 722m. So they were raised in your opinion by 2 Billion a month later. That is unlikely. Mgmt. was on a share buyback program to reduce O/S to 500m and that is what we will see on 10K or very close to it, IMO.

You have no idea what the O/S are. They could very well be at 500m or close to it as expected by mgmt.

The high volume is most likely due to the flood of air shares being trade day in and day out, millions of them daily, with the shorts increaing their position every day. I do not believe it for a minute that there aren't illegal naked shorts close to or over a Billion.

The 2009 10K will tell the truth as to O/S. Until then I will believe that mgmt. has reached its goal of reducing the O/S from 722m to about 500m.

Pease and Serenity. Spino

POST TO NO ONE: Does anyone even know what the issues are o9f this SEC investigation of spng?

Or what documents the company has to furnish which are relevent to such issues?

Everyone's seem to be jumping to conclusions as to worst scenario already. Did anyone stop to think that it may be simple. And not complicated. And not longlasting. And not resulting in any wrongdoing as to anyone.

That some people compained about something. It could be the reverse split, the canceling of the r/s, the A/S confusion, delays in issueing the 10Ks, these kind of things, I do not know. Which can be resolved rather quickly it would seem, if those are the issues. I have no idea.

All I'm saying don't think the worst until we see the facts.

Peace and Serenity. Spino

Listen I have NEVER talked or tried to talk to SM. Or anyone else connected with spongetech for that matter. Period. End of story. I do not know how you got that information or impresssion, or perception but it is WRONG. Period.

I was only responding to you to the situation regarding the audit. There is not investigation with respect to that.

I had no idea whatsoever that spng was being investigated by the SEC until Soapy posted the link to the SEC -- 8K of spnge maybe 30 seconds after I posted to you about the reaudit. This of course totally sucks - at least for me. It probably means more delays. I have no idea. I do not know anything about securities laws. I'm sure SM/MM will be adequately represented by their attorneys.

Speace and serenity. Spino

Like nix said, the auditing firm was suspended. Drakeford. So it could not sign off on it 2008 audit of spnge's books. Thus, the SEC merely asked spnge to have those reaudited. And, of course, the 10K for 2008 and 2009 can't be filed with SEC until Robison finishes the reaudit. Drakeford's problems with the POABC -- or whatever it is which has oversight into accounanting firms found problems with work Drakeford did in 2004 -- not in any way connected with spng. So there is no investigation, only a reaudit. A situation beyond spng's control which they were just told about on 9/11.

Peace and serenity. spino

But it could be covering. But if covering then why the negative volume and the price dip to .07. It could just be more shorting. Very confusing. One day we will find out who or what or whom has shorted -- but not in this forum, and not in the OTC BB forum, or any other market forum. JMO

YUP. I can't wait for that and other good news,

albus: I would be holding that much if could afford it, But I am happy with what I have.

Peace and serenity to you. Spino

Carp: The yellow trades are now up to 37,000,000. Lost pf covering or buys or both.

I was a reporter once upon a time in a galaxy far away for 3 years. And most recently I wrote a periodic 3-4 pg column in the largest sports memorabilia magazine in the country for collectors for 4 years. And one of my other jobs for 16 yrs. required me to do a lot of writing legal opinions for judges and research, and the opinions had to be perfect with no mistakes in law or fact. I view good reporting the same way. Just my humble opinion.

Carp: Doyou see the buys at the end in yellow (above asked) totaling nearly $30m at .8 and the 3m at .87? Wow.

Are these buys covering or investor buys or a combo? Spino

GG: I'll reply to you last post here about the ny Post articles about spnge. I'm talking about the mistakes the reporter made in verifying information, in my huimble opinion. So what about the current O/S being 722m as reported by the company in SEC filings. What about the revenues figures for 9 mos as reported to SEC and the full 2009 FY as set forth on the 8/31 extension filing with SEC indicating the revenues were 50m. And did she ask T. Sykes if he has shorted the stock? And that Sykes figures on # of shares were incorrect. Why not ask the company directly? Why not eliminate the word investigation by the SEC as there is NO SEC investigation. And call what the SEC asked correctly as a reaudit of 2008 and not a restatment. Did she ask her other people giving information if they were shorting the stock? What about checking with SM about some of the PRs the company has released the past six months relating to revenues, profits, and new orders? Why not state accurately what spnge's customers presently are: Costco, CVS, Walgreens, That military group,BJ's Sear in Canada, Walmart in So.America, etc. But no she left the impression that spnge's customers were just a handful of unknowns. And who gave her this customer info.And why did she not go to SM and ask him who spnge current curtomers are? They are easily found in the company PRs also. Why not balance the other sponge co. statements re 5-10m rev. max per year with questions from SM about spnge's revenues? There are other whys, and more whys but I did not print out her articles and don't have them in front of me. I have an overall opinion about her articles but I will not state it. But I hope you can see the problems with her articles about spnge from just a cursory reading of them. Spino

The common shares like we own are voting shares. But the majority of the voting shares are the Class B Common owned by SM/MM and FL, a director, I think.

Amen Bro!

I just found your reply to my question. Thanks for your reply. Of course you have every right to ask those questions of spnge mgmt.

If I were SM I may or may not choose to answer some or all or none of them. The sabatoging is an obvious no. The sales PR will come out when mgmt. thinks it appropriate to do so. The O/S will be contained in the 2009 10K Subsequent Events section when filed. The reaudit and 10Ks will be announced/filed with the SEC when completed. The 10Q is not due until until 10/15, and we are sure DT will have it done in a timely manner.

Those are straightforward answers to your questions to SM as I would myself answer them if I were SM. Oh I would initially thank you for calling and having an interest in spnge. IMO

what are you calling about?

Based upon the volume and pps today, would it appear safe to assume that no one expects the Judge to make any ruling on the motion for Sum Judg. or other orders/decisions/rulings which would precipitate a big increase tomorrow??