Spongetech Delivery Systems, Inc. (fka SPNGQ)

[starfire]

Good read and great analysis....PArt I..........................

Letter Sent to the OIG and SEC, Part 1 27-May-10 04:11 pm
Greetings;

As a shareholder of SPNG stock, I have been researching information and following events closely throughout this ongoing investigation. The purpose of this letter is to communicate to you information about certain individuals and businesses that I feel is pertinent to your investigation. I therefore ask you to consider the following as it relates to Timothy Sykes, Michael Vlaicu, and David Patch.

Both Sykes and Vlaicu have ties to Covestor Investment Management. Sykes is rated their # 1 trader, as he indicates on his website. (Some links may need to be copied and pasted into your URL address bar).

http://www.timothysykes.com/

Vlaicu writes the StocksHaven blog, which appears on Covestor's website, as recently demonstrated.

http://www.covestor.com/mbr/stockshaven/...

In addition, Sykes writes various articles which appear on the Covestor site as related to Vlaicu's blogs, as seen here.

http://www.covestor.com/mbr/stockshaven/...


Vlaicu is the President and CEO of MiV Investments, of Ontario, Canada; as well as publisher of The Market Financial newsletter, a subsidiary. He also writes articles for various financial websites, such as the one regarding Hemispherx from Seeking Alpha, to which Sykes submitted a comment.

http://seekingalpha.com/article/141846-h...

Vlaicu also authored and published a document on docstoc.com regarding IVOB. In this document, Vlaicu said the following about SPNG antagonist "The Dean," on Jan 14th.

"Not only has The Dean been teaching the College Stock Community about $IVOB for the past six months, but The Dean is also the front-runner of the company's investor-awareness program."

http://www.docstoc.com/docs/22392482/The...