Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

"if it's revealed that by their actions
mgmt needs to be replaced .. so be it"

Just how would that happen?

Management serves at the pleasure of the Board. Management, in this case, IS the board.

A new Board could be elected by the shareholders. The old Board holds the majority of the votes.



If this sounds like a philosophical question, it isn't. Should the SEC feel that SM and MM are no longer fit to act in their current positions in a public company, the question suddenly becomes a practical one.

"so be it" is a good bit trickier than it sounds.