Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Leirum]

This says all. Excellent link with ref. to Wells notice.
http://www.seclaw.com/docs/wellsnotice.htm

As you will see, there is much room for interpretation what could have gone wrong that the SEC issued such a notice. At least it gives the involved people a chance to represent their view. Whatever outcome, it is good for SPNG, the business is legitimate, a brand with strong growth and if the management made some foolish things, well they will have to pay for it, either by stepping down or paying a heavy fine. But such a company for sure, will have plenty of people filling their or his ranks. By the way, the way I read the article, SPNG knew, that a Wells notice is coming so PIKES for sure must have been informed about this, all other things would not make sense. SPNG will come out of this stronger, that is of sure.