Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

Biting the hand......

The uncompensated attorney who has been acting on behalf of himself and some Spongetech "longs" is W. Darrell Whitley.
http://viewer.zoho.com/docs/gqq9e

"mktgmatters" posted this today:
"UPDATE TO SHAREHOLDERS FROM DARRELL WHITLEY, AUGUST 7, 2010:
Many shareholders are concerned over their investment in SPNG.
Everyone is concerned about its value being diluted or stolen by other
entities. One thing shareholders can do to avoid reducing the value of
their investment is to minimize the cost of the administration of the
bankruptcy estates, both in NY and Ga.
Every letter, call and email to the trustees in the Dicon and
Spongetech bankruptcies in effect costs shareholders money. Both the
courts in NY and GA are well aware of the issues at this point. The
fiduciaries cannot keep administrative costs to a minimum if they have
to review and catalogue numerous letters, let alone respond to them.
It also takes time away from working on resolving the issues at hand.
Although I cannot ask you to stop contacting these entities, I would
like you to consider if the continual communications at this point in
time are in our best interests as shareholders.
SPNG Bankruptcy:
Shareholders have been asking for accurate and current information
about Spongetech and its ongoing bankruptcy. Soon a website will be
set up by the Trustee to provide links to court documents and other
information of concern to shareholders. The website will also be
interactive so shareholders can get feedback. Though each day may seem
like an eternity for waiting on transparency into the process, we are
actually early into the bankruptcy. As a shareholder, it is my opinion
we need to let the Trustee perform his duties of gathering facts and
information so he can make informed judgment calls on what future
actions need to be taken with Spongetech.
In addition to the website, once sufficient information is collected,
a meeting will be held in a town hall format. This may be live or in
the form of a webinar. Shareholders will then be updated on more
details and will be given a chance to ask questions of the Trustee and
counsel.
DICON Bankruptcy:
In response to concerns regarding the Dicon bankruptcy, it appears
from court records that the Dicon Bankruptcy is proceeding normally –
if there is such a thing with bankruptcy. Contrary to what many have
indicated in blogs, there does not seem to be any predisposition on
the part of the fiduciaries to liquidate the plant. It appears they
are acting to determine assets and liabilities, as is their
responsibility. I expect schedules to be out by the due date and
shareholders will have more transparency into the overall situation
concerning debts and assets.
TERMINATION OF CASES:
Some confusion exists to the termination of the criminal cases of
Moskowitz and Metter. The two were initially charged under a criminal
complaint. With the indictments, the complaints became unnecessary to
the criminal charges against the two. The DOJ will proceed with the
prosecution of both cases pursuant to the indictment, thus the
termination of the complaint."

The "Owner" of the SPNG Long Board responded:
Musicman
Aug 7, 3:10 pm
"We have been excluded from working with Daryll. We are not allowed
input to Daryll. We appreciate the updates, however this one sounded
more like an order to back off. The Long Board will do as it always
has. Which is to look out for our own best interests. Nobody cares
about us like we do and we've proven we can take care of ourselves.
Since I have been left with no other venue to talk about this I have
been forced to talk about it here. Sorry if this offends anyone."