Spongetech Delivery Systems, Inc. (fka SPNGQ)

[PashkaVl]

Letter to SEC to investigate volume-
This is my official complaint but if you want things to change than write a letter yourself to demand attention to this egregious misconduct and criminal behavior of market makers and FTD procedures.
http://www.sec.gov/complaint/selectcondu...
- Manipulation of price and volume


COMPLAINT INFORMATION
Providable Documents:
Description:
In the last 10 days Sponetech Inc (SPNGE) had massive volume many times it's float. The company has also been showing up on the SHO list daily. As a retail investor I am very upset and disappointed that there is no information on the number of shares that have failed to deliver on a daily or at least weakly basis for individual securities. This lack of public information allows market makers to naked short sell and manipulate the share price, stealing money from retail investors and destroys companies by increasing borrowing costs for the issuer because of a deflated stock price. The FTD loopholes that allow unchecked naked short selling need to be addressed because these practices only destroy shareholder value and choke of credit to fledgling businesses.

Since the new SEC chairman stated that increasing corporate and market transparency is the main charter of the SEC, FTD disclosure and abusive NSS practices have to be one of the top priorities to protect retail investors from share price manipulation. How many companies will go out of business, employees laid off, technological innovation discarded, and shareholder values whipped out before the SEC changes FTD and SHO rules?!?
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(Official reply from SEC)

Dear Mr. Vladimirsky:

Thank you for your email and taking the time to provide us with your comments.

We welcome your comments because they help us to regulate and enforce the laws that assure fair and orderly securities markets.

I have passed your views on to the people at the SEC who specialize in the issues you've raised. If they have any questions or wish to respond directly to your comments, they will contact you.

Once again, thank you for taking the time to inform us of your views.

Sincerely,


BRENDA E STANFIELD
Office of Investor Education and Advocacy
U.S. Securities and Exchange Commission
[phone]

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If you yell loud enough and long enough they will have to listen and change... we as taxpayers are their employers and with the a new administration interested in changing things for the better we have a chance to let our concerns be known. Investor activism is the only way the SEC will understand that we won't accept the status quo anymore!