Spongetech Delivery Systems, Inc. (fka SPNGQ)

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SPNGE Insiders have been shorting SPNG stock for LONG time, they have made multiple MILLIONS of dollars shorting SPNGE, they make money as they destroy retail investors , they have played all "LONGS" like a bunch of chumps , if you go back into the early SPNG filings when they created SPNG the proof is right there for everyone to see.... see filing below , They use the RME unregistered restricted shares to short , it is hard to sell those unregistered shares but easy to use them as collateral to short , to sell they have to do the opinion letter thing , and we know that did not go well and is not easy , so they shorted it to the tune of 2+BILLION shares and make/made a kiling as "longs" buy and thus pay to destroy their own investment > IMPO of the FACTS

FROM EARLY SPNG FILING > THIS IS THE CORE MENTALITY AND CORE BELIEF OF THE SPNG SHARE STRUCTURE IMPO:


From time to time, the selling stockholders may engage in short sales, short
sales against the box, puts and calls and other transactions in our common
shares, and will be able to sell and deliver the shares in connection with those
transactions or in settlement of securities loans. In effecting sales, brokers
and dealers engaged by the selling stockholders may arrange for other brokers or
dealers to participate in those sales. Brokers or dealers may receive
commissions or discounts from the selling stockholders (or, if any such broker
dealer acts as agent for the purchaser of those shares, from the purchaser) in
amounts to be negotiated (which are not expected to exceed those customary in
the types of transactions involved). Brokers and dealers may agree with the
selling stockholder to sell a specified number of shares at a stipulated price
per share and, to the extent those brokers and dealers are unable to do so
acting as agent for a selling stockholder, to purchase as principal any unsold
shares at the price required to fulfill the broker dealer commitment to a
selling stockholder.


http://www.sec.gov/Archives/edgar/data/1201251/000114420406015283/v040558_424b3.txt