Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Nikodemos]

Contrast the SPNG "story" to this point in time with another equity which was "flagged" around the exact same period (EESO, link below).

Note the differences in SEC actions b/n the two. Specifically if fraud was "obviously" perpetrated, as some posters here would lead you to believe.

Interesting contrast to say the least.

http://www.wane.com/dpp/news/local_wane_fw_Company_faces_stock_fraud_allegations_200909259


Additional Follow Up (on EESO):
Did some checking on Pacer. Trial date period is set for February 1, 2011. I understand the CEO (Jared) wants to supply a settlement for some issues, not all, by paying money to get some of the problems settled.
There is a court appointed Mediator and the parties have until
December 23 this year to object to the person appointed and to make a motion to stipulate and alternative mediator. If they don't object then they have until September 15 2010 to complete mediation.

Furthermore:
Thu Dec 17 16:59:21 2009 - DTC Suspension of Securities

Dear Valued Investor,
As a result of a complaint filed by the Securities and Exchange
Commission ("SEC"), the Depository Trust Company (DTC) has suspended all settlement services for the following securities:
CUSIP SECURITY NAME
22743P100 Cross Atlantic Commodities, Inc.
294113105 Enzyme Environmental Solutions, Inc.
46018A100 International Power Group, Ltd.
761379106 Revenge Designs, Inc.

Because DTC has suspended settlement services in these securities,
E*TRADE Clearing (ETC) has indefinitely suspended all trading in the securities outlined above. The position will continue to remain in shareholders accounts. To view the complaint that resulted in DTC`s suspension of settlement services outlined above please see:
http://www.sec.gov/litigation/complaints/2009/comp21224.pdf.

If/ when more information becomes available we will communicate with account holders/interested parties regarding the treatment.

Sincerely,
E*TRADE Clearing LLC


FULL DISCLOSURE: I am NOT an investor in either company. I have been watching EESO for over a year and was not convinced to buy (although I really wanted to) and am grateful I did not (to this point).

I have also been following SPNG (in all its variations E, greys, etc) and am VERY CLOSE to buying at these levels. Partially because of the trading range, PIKE, CVS & other store tracking I have done and seen with my own eyes, Marvel & other licensing deals, and a recent visit to the bustling NYC headquarters as well as the DICON facility prior to their move out of NJ.