Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

"Anyone with a different take?"

The more I read about it, the more he seems like a getaway driver that offers the explanation that he just thought that they needed a lift.

He says "I either resigned or was asked to resign from Boards of Directors", yet the directorships claimed on his resume either ended well before he came to Spongetech....in most cases years.....or, in the one recent case, ending as a result of an acquisition. I know it isn't really relevant to the facts, but it just leaves me wondering about the rest of his "the Devils made me do it" protestations. He has been doing this stuff for 38 years, obviously bright and well-educated, if the rest of his resume is to be believed......what are the chances that he was oblivious to the motives of the powers-that-be?

And his pronouncement that he really didn't commit a series of "mistakes" but rather just made the same one mistake a bunch of times isn't quite a sound legal argument :o)

All that said, he was probably strategically smart to jump to the head of the line in responding. Interesting that his attorneys had requested delays and then came in ahead of schedule.