Spongetech Delivery Systems, Inc. (fka SPNGQ)

[GolfAnyone]

AS TO DELAY IN FILINGS...

This was documented by another poster some weeks back. He mentions 51 days since suspension below. How many days are we now?

Now, this is EVIDENCE...

Probably the main reason Spongy hasn't released their financials is
due to the ongoing SEC investigation. I've attempted relentlessly to
get some info on how the investigation process works for the SEC, they
usually respond quickly to questions; however, I finally asked a
question that they never gave me a response to...

My questions to the SEC has only led me to one good answer that puts
to rest one of the many theories of why the 10k is not out yet. The
theory that the SEC is holding the 10k should be put to rest because
the "SEC does not prevent a company from filing required forms".


Finally, my best guess of when the SEC investigation will be completed
and reported to the public comes from looking back at the history of
'MRV Communications (MRVC)' a company that once traded on the NASDAQ
and went straight to the Pink Sheets when trading was suspended on
June 17th 2009 (see Jun 16 of the link provided below). MRV
Communications received a letter from the SEC on August 26th (2009)
stating that its investigation has been completed and that it does not
intend to recommend any enforcement action by the Commission (see 31
Aug. 08:30 of the link provided below). The company did not make
public the SEC's completion of the investigation till August 31st
(2009).


http://www.reuters.com/finance/stocks/keyDevelopments?rpc=66&symbol=M...


No, the allegations were not the same as Spongy; however, it still
makes for a good example of how the story may unravel for Spongy and
that it could come out of the investigation as a viable company. It
also demonstrates that the SEC did not announce to the public the end
of an investigation (because there was no enforcement actions) and
that the announcement of the investigation was left up to the company
to announce, which happened to be 5 days after the SEC notified MRVC
(I wonder if there is any limit to how long a company can wait before
having to make a public announcement) .


One last thing we can take from this example is that the SEC took 70
days from the time that they announced a trading suspension of MRVC to
complete and notify the company that the investigation was complete
and that they were clean. We are currently on day 51 from the day
Spongy's trading was halted...