Spongetech Delivery Systems, Inc. (fka SPNGQ)

[overachiever]

ATTENTION NEWBIES! NEWLY UPDATED SPNG DD

A MUST READ FOR INTELLIGENT INVESTORS.


A Southern District of New York Federal Court Ordered Dump of 1 MILLION DOLLARS WORTH of SPNG shares is coming by the end of April. SPNG Principles CEO Michael Metter and BOD Member Frank Lazaukas lost a six million dollar judgment in a lawsuit with a media company and fell behind in the settlement payments after the SEC stopped the share printing at SPNG due to stock fraud allegations. The court ordered dump of SPNG stock was the only way the media company could get its money from those two losers. Enough clueless newbies are going to have to be found to raise one million in cash in less than 25 days here. Beware!

And it gets worse. SPNG is involved in many more lawsuits for unpaid bills that have the potential of sending this scam into Involuntary Bankruptcy.

Getting sued by CBS Radio for unpaid advertising bills

Getting sued by the NFL's New York Giants for unpaid advertising and food bills.

They are getting sued by the Major League Baseball's NY Mets for hot checks and unpaid bills

Getting sued by Madison Square Garden (New York Knicks and New York Rangers) for hot checks and unpaid bills.

Getting sued for unpaid royalties by the Florida company which produced their television commercials.

Getting sued by their shareholders in Six Class Action Lawsuits. Yep. SPNG has six class action lawsuits filed by disgusted wiped out shareholders in which this unique investment opportunity has been accused of lying, cheating, falsifying financials and otherwise engaging in general bad behavior.

A 3 billion A/S which has been raised over and over again while the transfer agent was gagged to keep all the ignorant shareholders blind as to the outstanding share count. which at this point is likely to be as high as 2.75 billion plus shares

400,000 dollars worth of liability for hot checks.

Liability for forging "over 100" legal opinion letters which they used to dump hundreds of millions of shares of unregistered stock onto the public. !

Liability for falsifying financials.

Liability for Refusing to file their 10K and 10Qs which sets the stage for the company to have its registration revoked. The stock will then no longer trade and will have a market value of zero.

Liability for lying in PRs while dumping hundreds of millions of shares of unregistered stock onto witless naive investors,.

Liability for Creating fake customer list which supposedly accounted for up to 99% of total sales

A stock which was suspended by the SEC,

Trades on the grey sheets, which puts them in an exclusive club of companies known for scamming the public

A Well's Notice, which means the SEC has notified them of their intent to sue for securities fraud. Not many companies have one of those.

And, after all of this, to top it off, Wayne Celia quit as CEO at Dicon. He got out with his rep intact, before the DOJ moves in.