Spongetech Delivery Systems Inc (fka SPNGQ)

[hoggey1]

"How many different companies have to sue them before you realize..."

Blah, blah, blah, nonsense patch. That's a tired old manipulation tactic. Try again.

You're so quick to believe the Fed's case is infallable:

What about the SEC is corrupt and/or incompetent don't you understand?

http://www.davemanuel.com/2007/08/07/think-that-the-sec-is-corrupt-meet-gary-aguirre/

Pequot & NSS

http://www.economicpopulist.org/content/evidence-deep-corruption-sec

Of course Madoff

Porn

http://abcnews.go.com/Technology/big-secs-porn-problem/story?id=10193518

What about the various allegations against the FBI don't you understand?

http://truthinjustice.org/scandal-labs.htm

What about Prosecutorial Misconduct from the DOJ don't you understand?

http://blogs.findlaw.com/courtside/2009/04/judges-bang-the-gavel-on-prosecutorial-misconduct.html

What about short and distort (and naked short and distort) manipulation don't you understand?

http://cmkxunitedforum.proboards.com/index.cgi?board=frontrunning&action=print&thread=13367

I could go on but no point. But since you're so quick to believe any and everything presented by the FEDs, just remember the Fed's complaint alleges that SPNG's business is a complete fraud, or completely phony with 99% of the business being phony. However, Alvarez & Marsal have just about blown that allegation out of the water by proving up some $7.7 million in sales. Furthermore, the sales reviewed by A&M were all domestic. No foreign sales appear to have been included in those "selected transactions" reviewed by A&M. So it's more than possible that those "total sales" listed in the A&M report are total domestic sales. Now I honestly don't know and don't assume the company has anything more than the $7.7 million in sales. But then again, it seems anything is possible considering the FED's would have us believe that SPNG was a complete fraud. Apparently NOT.

And if the feds are so terribly wrong in that key allegation, then what else have they managed to get wrong?