First off, it's sitting on his desk because SPNG has the option to file the 10K at ANY time. They have chosen not to file it, thus making it late for many months. Second, using the smallest amount of reason and deduction can enable someone to easily conclude the reason it has not been filed is because the information contained therein is false and fraudulant and was not signed off by their auditor. There is no...I repeat, there is NO other logical conclusion. Lastly, it doesn't matter one damn bit how many sponges they are selling or how manys stores they are because they have committed fraud and for some reason MANY on this board seem to think that great sales somehow will negate fraud. Sorry, it doesn't. The SEC investigation has not concluded or SPNG would have been allowed to relist on the OTC if things were peachy as many claim here. The last days of SPNG will play out with the DOJ formally charging management and likely a few others. After this takes place, class action will commence and will dismantle SPNG. There are thousands of shareholders who lost money in this fraud and they aren't going to simply roll over.
