Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

It's one year from the date of the report:
http://www.law.uc.edu/CCL/SOact/sec104.html

The Drakeford Show has some interesting timing lessons:
The 3/9/06 report dealt with inspections done in 11/04-12/04. I don't know when the audits themselves were done or what years were audited.
On 3/5/07, days before the deadline, Drakeford provided the PCAOB inspectors with information dealing with how they addressed the problems noted in the inspection report.
On 7/17/08 inspectors notified the firm that they found the information inadequate.
On 7/23/08 Drakeford provided workpapers in further support of their contention that they had dealt with their reported problems.

It'll muddy this up even more to tell you how, but the "integrity" of those workpapers is what resulted in Drakeford's revocation on 6/16/09.


Point is, Robison has until 1/30/10 to respond, as noted, and we shouldn't be surprised if they do.......how and when and under what circumstances we might hear about the response is another thing.

Obviously we need the SEC and the PCAOB, but COME ON ALREADY!