Good post Donna - it is honest and I agree with your points made in the post but consider this:
Moskowitz and Metter both come from money and have been (and still are) involved as directors in both public and private companies. I have named a few below:
Azurel Ltd
Carter & Sons
RM Enterprises International Inc
Vanity Events Holding Inc
Evolutions Inc
Vanity Holding Group Inc
WESTERN POWER & EQUIPMENT Corp
Map VI Acquisition Inc
Map IV Acquisition Inc
ERC Corp
Solar Thin Films Inc
International Brand Group Management Inc
National Stem Cell Holding Inc
and Spongetech Delivery Systems Inc
While its believible that a power hungry lunatic might pull some crafty things in the name of greed, and risk his freedom, reputation, and quality time with family, I can not see that lunatic convincing 2 more people with equally good reputations and families to do the same. This would be taking the ultimate risk. While spng being a "scam" is not impossible, it just does not seem likely and if "a scam" we're truly the case it seems that one of the 3 scamsters would have gotten week and started singing to the SEC to save themselves. We're talking FEDERAL PRISON!
What does make sense and seems very likely is an attorney telling these guys "Put a lid on it. As difficult as it is... talking can only hurt you, cause delays and/or lead to misinterpretation, Speak NOTHING of revenues and financials until the SEC issues are cleared up". This is the safest thing they could do without complicating things even more or possibly provide reason to carry on an investigaion any longer than it must be.
Reading this board everyday makes this scenario appear more likely and I could go on with examples as to why but it would not take very much imagination to figure it out. We as shareholders feel very much left out in the cold AS WE SHOULD.
I don't believe the company wants its investors out of the loop but they know it is for the greater good. SM Still responds to emails and phone calls. His responses are weak but he takes the time to read and respond. This alone says something.
Keep in mind that every word that comes from the company is analyed, ripped apart, twisted and grossly misinterpreted. Every time a new delay presents itself it is quickly spun into "the company will NEVER put out another financial" or "this company is a scam and 2 cents per share will look like a gift in the very near future" We know the reasons for the desperate crys of some... I will not even get into that.
I am unhappy with the lack of comunication to the investors of the company. I am puzzled as to why the OS information is being withheld (but have an idea as to why), I think the current shareprice is ridiculas and above all I hate the lack of liquidity on the greys but with all that being said, penny stocks are a higher risk/reward situation and it is what it is.
I ask myself this: If I where late for an event and stuck in gridlock traffic, all I can do is wait it out. I can beep my horn, stomp my feet, bang my head or pray, but having faith that officials are ahead trying to clear up the problem is all you really have... its the reality. and so it goes with spong
If spng managment is truly S C U M ... we will know it soon enough. My bet (for the reasons stated above) is that they are not and that getting on track is their priority right now. Pike probably knows someone who knows someone who knows these guys are not crooks and he loves to make money. Imagine the kind of jack this guy is going to make if this takes off?
I say good luck to him... and you
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