Spongetech Delivery Systems Inc (fka SPNGQ)

[themanfromboston]

Ris, it wouldn't exactly be risking $18 million

here is a potential scenario:


1. Offshore entities though Pike buy $18 million worth of SPNG stock in the market.

2. Most of the $18 million is the result of illegal activivities offshore and it is desired to "clean" this $18 million.

3. SPNG issues shares to RME which then transfers the shares to a third party.

4. The third party in #3 above, then sells $18 million worth of SPNG shares into the market as Pike is buying $18 million in the market.

5. The third party in #4 above nets $18 million.

6. The third party in #5 above then transfers 90% of the $18 million of "clean" cash netted by selling SPNG stock into the market to the original "offshore entities" mentioned in #1 above.

7. Moskowitz and Metter end up with 10% of the $18 million or $1.8 million for the "laundering"

8. The entity in #1 above then transfers another 10% to Pike and ends up with 80% of the orginal $18 million, but in very clean cash, and the 180 million in SPNG shares which will go to zero eventually.

9. All of the Pike buying in the market, particularly because it typically was at the high of the day makes it seem as though something positive is happening with SPNG.

voila