Spongetech Delivery Systems Inc (fka SPNGQ)

[OldTymer]

puppy, once they went into chapter 11, I pretty much had already assumed the shareholders would lose everything. There just isn't enough money or assets to go around. Shareholders are always the lowest rung on the ladder, which seems contradictory, considering it's the SEC's job to protect the shareholders. If they're so interested in protecting the shareholders, you would think they would be paid first, if not in full, at least a percentage of what they lost. I know the argument that shareholders had plenty of warnings about SPNG, but that's not the point. I'm looking at it from the viewpoint of what the SEC's credo is. Oh well.