Spongetech Delivery Systems Inc (fka SPNGQ)

[hoggey1]

I believe you're referring to the application for the excludable delay asking for more time. That was the one where Tao and Moskowitz appeared on the same page and working toward a settlement or plea. Then it appears the SEC just up and withdrew from any further negotiations - who knows why? Coincidentally the Involuntary Bankruptcy Petition was filed shortly after the App for Ex Delay.

That was curious indeed. And I've often wondered if Tao knew that BR petition was coming, and so duped SM into thinking the SEC would settle with him and SPNG. I've wondered if the guy is playing it straght since his efforts to look after the shareholders seem dubious at best. DUBIOUS!

Why did JT pull away from those settlement negotiations? So yes indeed I have wondered about Tao because he did suspicously withdraw from what looked like a forthcoming settlement. Now it seems undoubtedly clear he's out to destroy the company in order to cancel out the shares. If so, then he shares the same goal as the short and distorts who'd like nothing more than for the shares to be zeroed out and destroyed. You don't have to cover when shares are cxl'd out thorugh BR.

Disappointing because you would expect the SEC to be looking after the shareholder's interest by trying to save and preserve as much of the company, as many of the assets and especially Dicon...