Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Virtual Drew]

Let's apply some EXTREMELY BASIC logic here! Shall we?

SpongeTech receives a written/formal suspension from the SEC on October 5, 2009.

For what?

"...questions that have been raised about the accuracy and adequacy of publicly disseminated information concerning, among other things, the amount of sales and customer orders received by SpongeTech, investment agreements entered into by SpongeTech, and SpongeTech’s revenues as reported in its financial statements."
http://www.sec.gov/litigation/suspensions/2009/34-60788.pdf

The SEC is concerned about "accuracy" and "adequacy" of
1) Amount of sales and customer orders
2) Investment agreements (GFGU anyone?)
3) SpongeTech's revenues and financial statements



But it doesn't end there...



SpongeTech, then, receives a written/formal WELLS NOTICE on December 24, 2009 --Merry Christmas STUCKS (longs)!!! and isn't revealed by the New York SCUM M&M until New Year's Eve --Happy New Year's STUCKS (longs)

How's that for shareholder's value? IN YO FACE!!!

http://sec.gov/Archives/edgar/data/1201251/000114420409067083/v170343_8k.htm

So, must I break down the Well Notice for you TheBlueHotDog? Seriously? Again?

Either way, here's the Reader's Digest version:

The allegations of the trading suspension 80 days prior to the Wells Notice: VALIDATED!!!

Oh yeah! Not just the company itself defrauding the public, Metter and Moskowtiz were in on it too!!!
Michael Lee Metter
Steven Yehuda Moskowitz

How much more do you need TheBlueHotDog??? Do we need to tattoo SCAM on everyone's foreheads?!?

BOTTOM LINE: We are witnessing the natural progression of a SCAM gone wrong!!!

Final note: The lack of "accuracy" and "adequacy" = FALSE! (ie inaccurate = FALSE! inadequate = FALSE!)

Having spent 80 days investigating SPNG, slapping a Well Notice on the very things triggering a suspension, tells me there is more than enough evidence to put a FALSE statement on any and all of SpongeTech's press releases and SEC filings!!!

Prove me otherwise! Show me a statement from either the SEC or SpongeTech's SCUM management (M&M) to the contrary!!!