Spongetech Delivery Systems Inc (fka SPNGQ)

[puppydotcom]

No not always, can lead to revoking by this
http://www.sec.gov/litigation/admin/34-49816.htm

Because, the company and officers engaged in “a scheme to defraud investors,” they no longer continued to file any reports ...

Respondent Gordon Novak (Novak) pleaded guilty to one count of conspiracy to commit
wire fraud and securities fraud for which he was sentenced to twenty-one months in prison.
Novak, in a related civil matter, was also permanently enjoined from violating Section 10(b) of
the Securities Exchange Act of 1934 (Exchange Act) and Rule 10b-5 thereunder, and from
aiding and abetting any violation of Section 13(a) of the Exchange Act and Rules 13a-1 and 12b-
20 thereunder. This Initial Decision bars Novak from participating in an offering of penny stock.

http://www.404.gov/litigation/aljdec/id297lam.pdf