Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

FWIW, this is the answer I received to my questions:
"http://www.sec.gov/investor/pubs/rule144.htm";

These were the questions:
“This timing also allows Lazauskas and Metter enough time to file Form 144s to unrestrict their shares in order to satisfy the court liquidation order.”
Please explain the reason for the restriction on these shares, when they were purchased if that relates to the restriction and what you*** mean by “enough time”. Finally, would these dispositions also have to be reported on Form 4?"


I guess it was a way of telling me to do my own DD.
But I have......my DD actually led me to the questions.
In fact I have more:
If Jean Lazauskas's shares represent shares purchased on the open market and transferred to her by FL why would they be restricted?
Do FL and MM have shares to sell above and beyond those reported on their Form 3's, filed on 10/22&23?
(The link provided in response to my questions says:
"Holding Period. Before you may sell any restricted securities in the marketplace, you must hold them for a certain period of time. If the company that issued the securities is subject to the reporting requirements of the Securities Exchange Act of 1934, then you must hold the securities for at least six months.")

Any help with ANY of these would be appreciated.