Spongetech Delivery Systems, Inc. (fka SPNGQ)

[pragmatist]

This is ridiculous, and a huge red flag. Spongetech sends out a PR everytime they sell a sponge or put a sticker on some race car, but they cannot communicate a word about the most important filing the company has ever had! They've known about this deadline for a long time. They also know that they have questionable credibility to begin with, and they've blown a major chance to increase that credibility, regardless what the 10K says. They say they want to be on the NASDAQ, but they keep playing stupid games. This is a major red flag IMO. They don't need (or have) a machavellian masterplan as some of the conspiracy theorists seem to believe. All they need for the share price to go up is to be transparent and credible, and they've blown there chances for that a few times. Why would a company do that?? I don't know.

Full disclosure...been long 150k on SPNG since .02. sold 1/2 my position today. maybe the rest tmrw