Spongetech Delivery Systems Inc (fka SPNGQ)

[puppydotcom]

The insiders are spng and they control everything. If forced out or they receive heavy fines, spng is all done, including all the sub companies. They will just shift the product to another shell and someone else will run it. The liabilities spng is facing with the SEC, and all the lawsuits, is well into the millions. ( Mets along is over 2 million )

The sec is going after the company ( the shell/corporation ) and the insiders. As far as I understand, the company itself holds no rights or patents, the insiders hold all of them. I have no doubts the SPNG shell will file BK, if they get hit with big fines.

all share holders will be wiped out .. if so