Spongetech Delivery Systems, Inc. (fka SPNGQ)

[starfire]

How much of a fraud can that be when compared to the fact that he sold Dicon for $4.5 M which includes SPNG to payoff $2.5M loan to Wachovia Bank and then turning around, forcing (indirectly) Dicon into BK with about $150K in Liabilities and further offering to buy Dicon for $825K which is less than the value of the inventory and has a break up fee clause indicating about $70K! I think what he has in hand is the agreement with HHBrown & Diversified Technologies (Note: WC is owner or principal of DT LLC). HHBrown questionably terminated the agreement with Dicon.

edit: HOWEVER, it's possible that WC could establish that he was fraudulently induced to sign the agreement in the first place. In which case you can probably trash this whole post :O)