Spongetech Delivery Systems Inc (fka SPNGQ)

[OldTymer]

Fire Lane, I don't believe that is correct...

You said: "the fact is neither act applies now as SPNG is no longer reporting and its no longer trading on any exchange. I hope this helps"

http://biz.yahoo.com/e/100416/gvbp.pk10-q.html

Read the information under "Forward Looking Statements." It shows that forward looking statements, even for grey market stocks are governed by the 1933 and 1934 act.

"Currently, bid and ask quotations for our common stock are not quoted on any exchange or quotation system, including the OTCBB or the Pink Sheets. Our common stock is a "grey market" security. Trades in grey market stocks are reported by broker-dealers to their Self Regulatory Organization (SRO) and the SRO distributes the trade data to market data vendors and financial websites so investors can track price and volume. Because grey market securities are not traded or quoted on an exchange or interdealer quotation system, investor's bids and offers are not collected in a central spot and market transparency is diminished. In addition, Pink OTC Markets Inc., the primary inter-dealer electronic quotation and trading system in the over-the-counter securities market, has labelled our stock "Caveat Emptor" and has blocked quotations of our common stock from its www.otcmarkets.com website".

One could assume that if they have to abide by the 1933 and 1934 act rules for forward looking statements, then they probably have to abide by those acts for everything else. Being on the greys doesn't give them carte blanche.