Spongetech Delivery Systems Inc (fka SPNGQ)

[grongron50]

Situations like this mess provide a golden opportunity for folks to better understand the markets, regulatory issues and many other factors that influence what will happen to their money when they decide to plunk it down in the cesspool created by people like Moskowitz and Metter. Some of those folks realize that expanding their horizons and opening their minds will serve them well the next time they get ready to buy any OTC stock. Spongetech has run the gamut of nearly every pitfall one can imagine and it, therefore, could be a perfect learning experience for those who fell victim to the lies and deceit foisted upon them here. Others choose to ignore the lesson and make the same mistakes again and again.

The bottom line here is
1. The management of this company financially pillaged the shareholders.
2. The company (Spongetech) is worth less than nothing and is therefore being shut down. Shareholders will get nothing from it.
3. The ticker (SPNGQ) is a toxic shell and anyone who is foolish enough to buy into it deserves exactly what they get, when they could simply select another shell without all the baggage.

Those things are the truth whether you choose to accept them or not.

I truly hope there are many lessons learned from this quagmire of a company.