Spongetech Delivery Systems, Inc. (fka SPNGQ)

[sponge_digger]

More GREEN flags for sponge.


This happened and is still happening. Can we trust what they are doing about it?

I think so

Management believes that our stock has been influenced by the illegal
practice of "naked short selling". These people, or entities, are trying to
undermine the shareholders' confidence in our Company, trying to induce you
to sell your stock, and, in simple terms, hoping that if you do they will
be able to buy back their short position sale at a significantly lower
price. They use detailed and complicated systems, and even sell from
overseas through other exchanges, to sell nonexistent shares all day long
trying to create a disparity between legitimate buy and sell orders.

These unscrupulous entities strategize to create stock price erosion in
an effort to try to force us to continue to dilute the Company to raise
funds. As you know, we have invested significant money into our Company and
hold a large position in stock that is not registered and cannot be sold.