Spongetech Delivery Systems, Inc. (fka SPNGQ)

[overachiever]

Pike is likely selling his stock at this stage. There has been no net buying from the guy since Jan 06 and this was before the news about the NY Mets and Madison Square Garden suing sponge for bounced checks.

Those are fairly large blocks consistently hitting the bids put up by all of the suckers who are buying because they think Pike is going to save them. In addition, no one has any way of knowing what his offshore fund is doing. He could be shorting into this every time he files he has bought.

And don't forget that the first 100 million shares under his ownership is a complete mystery as to how he acquired the stock. He could have easily been doing financing for SPNG and took those shares at a huge discount to market back when the stock was trading at 20 cents or so. .