Spongetech Delivery Systems Inc (fka SPNGQ)

[patchman]

hoggey,

I am not sure what part of this mess you do not understand.

Dicon is the sole producer of SPNG products and had a whopping $7.7 Million in sales of which a paltry $1.7 Million involved SPNG products.

Regarding the lawsuits, they involved UNPAID debts so it is not a matter of a lawsuit, it is a matter relating to invoices that were not paid. In any receivership they will be considered a debt. M&M are stalling on all their lawsuits because they know they have no case. They have now lost control of these lawsuits by resignation and by turning over control.

As to a freeze on assets, it is completely disassociated with a receiver. The freeze is to prevent any business decisions to be made by the crooks. The judge can freeze assets until a corporate takeover is initiated.