Spongetech Delivery Systems Inc (fka SPNGQ)

[TEX]

About this?

The way it works is this. If you get suspended from trading by the SEC for any reason, and you are a pink or OTC, FINRA kills your 211 on file after 4 days of non-trading. You then have to refile another 211, which is a relatively simple form that requires 3 signatures.

UNLESS you have an appeal hearing with FINRA (which the company has to pay for) within 5 days of the suspension. If the appeal is granted, and evidence is provided (in this compliance and transparency was the issue) then you are allowed to 'piggyback' on your currently filed 211, and you resume trading after the suspension is over on the exchange as a listed stock.

I believe everything in bold is either misleading or imaginary or applies to something else.