Spongetech Delivery Systems Inc (fka SPNGQ)

[spit432]

Hmmmmmmmm, conspiracy theories? If you go to buyins.net you find alot more than theories regarding the existence of naked short selling strategies. And since SPNG has been one of the most shorted of all stocks in the entire market according to SEC information, I wonder what the SEC's policy is in regards to a situation guaranteed to create a MOASS? For instance, if 500 million shares of shorts exist in the float and SPNG or Pike or someone else buys up those shares and put hold onto them, then what happens? Don't tell me that is impossible because one of the nss favorite ways to get unaccounted for shares of shorted shares is to have a broker or MM "accidentally on purpose" mis-mark the forms they must fill out at the end of a day of trading...if they do this consistently over the course of two years (yes, records prove nss of SPNG has gone on for more than 2 years) then a few million shares mis-marked here and there for two years could account for many hundreds of millions of shares mis-marked and not being actively looked for by the SEC...even billions of shares could end up being marked as Longs when they were really short.....so if billions of shares of short shares existed in the float and someone like SPNG bought back and retired the entire float...what would happen? Not just a MOASS, but something much more sinister....an impossible to rectify situation. What would the SEC's position be in that situation? That is a question I would like to get the answer to....anyone have a guess?