Very good post. I have no idea what is happening or what securities violations are being investigated, but suffice to say it comes on the heels of the PR stating SpongeTech mgmt wanted the air cleared.
Add this to the fact that mgmt did NOT have to reveal anything about an SEC investigation. That was voluntary. Like I said, I have no idea what is going on, but isn't it funny how shorts jumped all over this to plant a seed.
I have seen plenty of scams and even now, this just does not add up. There was never a reason to do all the advertising, for that matter even to ever make a product. Most scams simply tell you they are "in the process" of blah, blah, blah.
This is only my feeling, so worth no more than others, but I have a feeling this may play out differently than shorts are hoping.
This is no kid's game being played right now, not with millions or even billions of dollars being shorted. In most cases like this, shorts begin getting nervous and contact the SEC repeatedly, even to to the extreme of contacting news agencies. There is nothing they won't do if they feel they might need to cover such large positions...NOTHING!!
Again, I could be way off base, but scams to not go to the lengths SpongeTech has gone to in order to sell shares on the market. It does not require that much effort.
Good luck and my sincerest best wishes to those holding out and hoping for the best.
