Where is GailsWaters and the grand conspiracy that Roofie was going to blow the top off of?

Who is collecting all the interest on those fictional Venezuelan bonds?

Somebody has to stuff money into Roofies commissary account until 2013 so he can buy shower slippers and ramen noodles.

Get to work, Anissa!

What will be the reverse split record date? Alfie and Joe should really come out and announce this stuff.

Duh. Eisenberg is making restitution to the "approximately 30 or so individuals or entities [he sold SPNG shares to] through Asset Management"

Simply take the time to read Defendant's Sentencing Memorandum that is posted by scion as a PDF file. It is all explained there - READ it.

READ the court documents and the Spongetech facts are not hard to understand. Duh.

So what will the reverse split ratio be when Alfie and Joe finally spring the news - 1 for 1000, 1 for 10,000?

Spongetech owns NOTHING. It has been liquidated in Chapter 7. Creditors are owed more than the liquidated assets. All assets are sold for the benefit of creditors, who will get pennies on the dollar for their claims. It's over.

GAME OVER. Chapter 7 is dissolution of the corporation. It will be formally dissolved, as it has zero assets surviving liquidation. That is Chapter 7.

Have Alfie and Joe revealed the reverse split ratio yet?

Moskowitz created Bomart just as he created Flo Weinberg and the fake, forged letters he submitted to the NYC tax court and they rejected as faked.

He has a long history of this.

Who invests in obvious pennystock scams like SPNG?

Oh what a SCAM. Randy Hoff's silly little attempt to play in a sandbox that is waaay too big for him - trying to pull a pennystock scam.

All he gets out of this is a long vacation in Federal prison for securities fraud. How sad and how stupid of him.

What a failed little woodcutter who thought he was a "playah" does to his own future - destroying it - in a failed quest to scam dumb people out of money.

Yawn. More tinfoil "facts". GECC's ex-CEO Jim Bolt has nothing to trade. His trading time is over. The Feds don't let a suspect plead out and dismiss the remaining charges if they intend to use them as a cooperating witness - they have them plead out to one crime and leave the remaining counts pending to use as leverage to make sure the witness cooperates. So, the Feds would have punted their leverage to make a known liar be a good cooperating witness by dismissing the remaining counts. NOT what you do when you are milking a crook for information and testimony to use against others. BTW, murder is a STATE count, so the Feds don't have any leverage on Jimbo anymore once he's pleaded out of the fraud and money laundering counts. The Feds don't give up leverage if they plan to use a witness in a future prosecution.

Second, what is your source that Bremer plead guilty? What is your source that he claimed Bolt put him up to it?

Please don't say it was a newspaper article quoting an FBI agent. The FBI does not disclose such information on ongoing investigations - plus murder is a state count - there is no Federal crime charged to Bremer - the FBI would not be interrogating Bremer about a murder. But FBI agents have been known to make up bogus claims to keep suspects from getting bail. Especially when they claim hearsay that can later be explained as "a miscommunication". No harm, no foul, and the crook stays in jail and bail is denied.

So, where is your source Bremer has pleaded guilty to murder? Where in his plea allocution - where he must confess the crime in open court - did he state Jimbo told him to do the murder?

And don't cite some Alex Jone's website or Art Bell moonie radio show for your "evidence". Keep the sasquatch and chupacabra out of it.

Yawn. Take off the tinfoil hat, dude. GECC's ex-CEO Jim Bolt just pleaded guilty to 3 Federal crimes that can net him as much as 30 years if he gets the maximum and consecutive sentencing.

If he had any juice on his former GECC co-conmen, he would have used it already.

You claim Fred Bremer pleaded guilty. I haven't seen that, but if he did he would have spilled anything he had in that plea deal - and Bolt hasn't even been charged with anything regarding the murder.

If Bremer or Bolt actually had any info or testimony to trade, they would have done it before pleading out to major prison time.

Recall that Bolt already rolled over on Bremer, and that is why Bremer got charged.

Yet none of your Vast Rightwing Conspiracy has been arrested, charged, or subpoenaed.

"Similarly, a Costco representative testified that "what we do is say, 'are you paying other discounts or what is your menu of discounts,' and if slotting is on there, we want to get the same bottom line . . .. Whether they call it a slotting allowance or advertising allowance or promotional allowance doesn't make a lot of difference." (FTC Report, Eagan Tr. at 61.)"

"Wal-Mart contracts with suppliers over shelf space, including the provision of particularly desirable promotional shelf space. But because Wal-Mart is compensated for shelf space primarily with lower wholesale prices, the arrangements are not considered slotting contracts."

"Inter-retailer competition considerations also explain why Wal-Mart accepts promotional shelf space payments primarily in the form of lower wholesale prices"

http://www.justice.gov/atr/public/hearings/single_firm/docs/219950.htm

The Department of Justice says that Wal-Mart receives compensation for slotting products. But it doesn't segregate that as a separate payment, it rolls it into a much lower wholesale price. Instead of writing a separate check to Wal-Mart, the de facto slotting fee is reflected in a radical reduction in wholesale price to them.

Like giving Wal-Mart sponges at a LOSS and selling to them BELOW COST in order to get shelf space.

Oh, and they paying people to go to various Wal-Mart stores and buy them back using company money to purchase them at a huge loss. Like happened with SPNGQ.

Right now - 6:34PM (Central) - GECC's ex-CEO Jim Bolt is watching the NFC Conference Championship game on TV in the Washington County jail. In the TV/day lounge.

That is the most enjoyable thing about the game. Knowing that Jim is watching it from inside jail and facing a long prison term. Today's dinner there was meatballs and gravy over noodles, peas & carrots, applesauce, and three slices of white bread and margarine, plus two half-pints of 2 percent milk, a mandarin orange, and fruit punch drink.

Jim had no visitors today nor yesterday. He had listed his son and a woman from Springdale as potential visitors. But they were no-shows. I guess his kid wasn't up for sitting through an hour-and-a-half drive each way (from Subiaco to Washington County jail) just to see his old man. The only hope for the kid is to forget the old man and run far, far away and never look back. Thanks to Jim, the kid is effectively an orphan now.

"You may be required to pay a slotting fee to, in effect, purchase shelf space in Wal-Mart if there is a great deal of competition fighting for the same space or the marketability of the product is untested. You must also be prepared to work with profit margins that Walmart endorses.

"Slotting Fee" is where you simply are paying Wal-Mart for shelf space in x-number of stores. Shelf space on the bottom shelf is cheaper, as are end caps.

Just like buying ad boards in sports stadia - you can pay to create the illusion of being a real business. New energy drink companies do this all the time to buy store shelfspace for a launch of an unknown brand.

But that is all really irrelevant, since SPNGQ was a con job from the get-go and you got suckered. Your money is G-O-N-E. SPNGQ is liquidated and in wind-down dissolution.

Spongetech (SPNGQ) investors were RECKLESS and JUNIOR with their money. SPNGQ CFO Moskowitz will take better care of it than the SPNGQ investors did. Moskowitz has the money safely squirreled away in Israel and Switzerland. It's G-O-N-E and it isn't coming home.

Randy Hoff spent $1000 to buy the volume today and artificially jack the PPS. Typical attempt to pump, but like his other attempts, people aren't going to fall for this amateur nonsense.

Nobody buys your games, Randy. You're a "nevers-been".

Jim doing the math:

Can't do the math until we know WHICH fraud the three counts relate to, then we would know the amount of money involved in that fraud. The total amount of loss is one component of calculating the offense level. You can't count the money lost in the dismissed counts.

The Feds will also move for a forfeiture order and that will be for the amount of loss under the counts he pled guilty to - not the dismissed counts. That should be in a pre-sentencing filing and then we'll know the loss amount.

We also need to know if the AUSA is going to add points for using a charitable organization in furtherance of a fraud. Also, we need his criminal record and prior sentences (number of months for each sentence), and whether the AUSA is going to ask that he be considered a habitual criminal or a career criminal. Those all go to the points/level calculation.

At the very lowest possible end, I figure 51-68 months without the other items. OTOH, it could easily wind up as much as 120+ months depending upon how the AUSA decides to argue the level points and criminal history.

He'll get a 2 point reduction for pleading guilty. I've got him at a MINIMUM of 21 points with a zone 3 or 4 criminal history - for 51-68 months minimum under the guidelines.

The AUSA may argue for an upward departure based on allegations by the jail staff of having video evidence of Jim faking medical conditions (ongoing deceptive behavior post-arrest), and his Shimoda-Atlantic misrepresentations and trial in 2006/2007 which while not resulting in convictions may be considered by the court as evidence of deceptiveness (claiming to be a Ph.D. and a medical doctor).

Jim will ask for a downward departure based on being a single parent to a minor child with no means of financial support. I doubt that will help him much. He'll also claim to be medically infirm, but the court is not likely to be receptive to that in view of the jailers' allegations of faking.

Needless to say, I'm hoping for something closer to the 120 months.

Of course the judge could sentence the three counts consecutively instead of concurrently - very unlikely - and put Jim away for 30 years.

"On the Monday after the search warrants were served, I left with my son and drove to Las Cruces, New Mexico in order to try and locate someone I believe to be a valuable potential defense witness. From Las Cruces, we drove to Truth of Consequences, NM and then back to Rogers, Arkansas."

"... recalling telling Mr Cessario that I had told her of plans to flee to Belize..."

"On the Monday after the search warrants were served, I left with my son and drove to Las Cruces, New Mexico in order to try and locate someone I believe to be a valuable potential defense witness. From Las Cruces, we drove to Truth of Consequences, NM and then back to Rogers, Arkansas."

"... recalling telling Mr Cessario that I had told her of plans to flee to Belize..."

When you have no money and your lawyer is going to withdraw, and he's told you you're going to be convicted, and you have nothing to offer the FBI on a vast rightwing conspiracy, you may as well plead guilty and try to get a lighter sentence than if you get a public defender and get convicted on all counts and get 90 years.

Jim doesn't look happy:

Cowtownjay, you wrote:

"there would have been an additional $34 million sought in disgorgement. That would have been enough to pay all unpaid creditors, and leave a balance of $17 million"

You seem not to understand that disgorgement does NOT go to the company, and thus would not be able to pay creditors. Spongetech would still be bankrupt and creditors would get little to nothing.

Disgorgement goes into a segregated account that is used for the SEC to recoup costs associated with bringing suit and recovering the disgorged amounts, and then the remaining amount, if any, can be distributed to specific investors defrauded by the specific acts that were the basis of the conviction itself. In the case of Eisenberg, the amount attributable to his acts was just over $2 million and there appear to be 51 claimants who can show that their losses were directly attributable to Eisenberg's acts that underlie his conviction (i.e., they were direct recipients of Eisenberg's illegally transferred/sold shares).

Disgorgement does not go to the company, as the company was not the injured party - SOME of the investors were. Each investor making a claim to a disgorgement needs to show how they were specifically damaged, and in what amount, by the specific action that led to the disgorgement - and trading records are needed to substantiate those claims.

But more importantly, you do know that there will never be $52 million found and retrieved from Mosky and the co-defendants. So it's really a moot point(or technically not moot but simlply academic as it has no basis in reality to expect any such recovery).

Ben takes the bad news on the phone:

Rufus takes the news lying down:

Well, maybe OODH CEO Randy Hoff has fled the scene. OODH World Headquarters appears deserted.

Oh, I'm sure CEO/Idiot Randy Hoff is using his time to mine those hundreds of billions of dollars of gold just waiting to be picked up.

If you were sitting on $309 BILLION if gold reserves, wouldn't you be spending your time mining that stuff rather than pumping a pennystock on chat boards and making poorly composed Photoshops of yourself in a pic of a private jet?

I mean if you're sitting on $309 BILLION of proven gold reserves, you wouldn't waste your time cutting firewood to sell would you? Wouldn't you be 100 percent devoted to pulling out that first billion as fast as possible?

But then, Randy is doing what you do when you DON'T have any gold reserves and all you've got is boolsheet, lies, and an imminent SEC investigation for securities fraud.

Chop, chop, Randy - those logs ain't gonna cut and split themselves.

Last year (2013), Alf said "there will not be a reverse split this year (2013)" - well 2013 is over and the stock is nearing the fatal 0.0001 no bid zone.

So Alf and Joe should tell you what the reverse split ratio is going to be.

"Culbertson, Brooker and the Elohim City type boys"

And which of these clowns is the genius maserminding your imagined huge rightwing conspircay?

They are all low-income, rural hicks with low IQs and no educations. GECC was a farce run by idiots like Bolt and Brooker.

None of them has ever amounted to anything.

And still waiting for you to explain what the conspiracy is about - what is the gameplan and what are they all conspiring to do SPECIFICALLY?

They're just a bunch of dumb trailer-trash losers, man.

BTW, you do know that Jim Bolt claims to be a Catholic and sends his kid to a Catholic boarding school, right? I don't think he'd be fitting in with the fundamentalist nuts in Elohim City.

Has Alf said what the reverse split ratio is going to be? 1 for 100? 1 for 10000?

From RPH (via Trulincs)

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Holy crapola - I gotta make these shower shoes last for another 17 years?

Damn.


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Have Alfie and Joe announced the ratio of the reverse split yet?

1 for 100?

1 for 1000?

1 for 10,000?

Any ideas how much the Enron shareholders got back? Zip - well, if you spent a 44 cent stamp and had 35,000 shares you might have gotten a check for like 13 cents - total.

CSHD - bagholders got bupkis. SPNGQ bagholders will be the same.

Your money is G-O-N-E. You didn't take care of it and it left. It ain't coming back. You were RECKLESS and JUNIOR in your handling of your money - so it split on a one-way ticket out of town. It ain't gonna call or write. No postcards are coming from it. Your money is simply GONE.

Like all other pennystock scams, SPNGQ bagholders will slowly drift away and the board will fall silent - all the gum-flapping and blue sheet Charmin-reading for naught.

No NSS will be found. Mosky's money is hidden in the names of his Israeli and NYC family and friends and stashed in Europe and Israel - it will not ever be recovered.

It's all over, man, but for the shouting on this message board and a couple of sentencing hearings to go, then revocation of the ticker eventually.

Under the Federal system, they serve 85 percent of their sentence in prison - and that is the projected release date on the BOP Inmate Locator website - so Roofie is in until 2031.

Yeah, baby!

I just read the 1998 Cavanagh case you cited - S.E.C. v. Cavanagh,155 F.3d 129, 136 (2d Cir. 1998).

And what is your point about that case re: SPNGQ?

Eisenberg moved HIS shares illegally.

The SEC's role is to protect the public in general - investors at large - the community of people who may be exposed to frauds like Moskowitz and Metter. It is shareholders' duty to protect their own interests.

BTW, do you know the statute of limitations for a private shareholder lawsuit for SPNG, right? Shareholders were put on notice the day the stock was halted - and certainly by the time the first SEC complaint was filed or Moskowitz and Metter were arrested and the indictment handed down.

Check your calendar - I think you are very much too late.

BTW, where's the proof of even 50,000 shares of NSS, let alone billions?

Sounds like you came up dry on the NSS. The court will do nothing, BTW - either shareholders sue the company (but I believe it is too late - check the SOL) or they lost that right when the statute expired.

The SEC is only interested in the 51 who directly acquired the shares Eisernberg moved - and the SEC is interested in that because the $2 million restitution that Eisenberg is dinged with would go to those who directly bought shares he controlled/sold illegally.

And the DOJ will specify (in conjunction with the SEC) the amount Moskowitz is liable for in the pre-sentencing brief (last count was $52 million). Likely they will raise that number for Mosky and then Mosky's lawyers will file an opposition broef arguing that it's too high.

This is important because the amount of the fraud goes directly to the calculation of Mosky's setntencing guidelines sentence range - the more money, the higher the points and the longer the sentence.

The last fraud of this sort I followed was Conversion Solutions (CSHD) where the CEO and CFO defrauded $42 million. They got 22 and 16 year sentences, respectively. They just lost their appeal on 06 January 2014, BTW. Now they're in until 2031.

Ah yes, the entire GECC cabal was run by a chupacabra. That is why Jim kept the UFOs hidden inside and left the boat and trailer outside GECC headquarters.

It was all a grand deception by a group of evil geniuses from hickland.

Meanwhile Terry Nichols has not been silenced and might deal the information for a pardon now that Jim Bolt might spill the beans.

Got it. That just makes SOOOOOO much sense.

Tell us the conspiracy story grandpa .... please... please...

Roofie and Ben got GOBSMACKED by the Court.

See you in 2031.

Where is GailsWaters when you really need her? LOL!!!