Spongetech Delivery Systems, Inc. (fka SPNGQ)

[big lug]

Can't this simply be done electronically? Can't ETRADE for example release a share count of SPNGQ shares in all their customers accounts? And couldn't the same be done for all the brokerage houses?

If there are phantom shares in excess of Issued and Outstanding that shareholders are trying to prove, it requires account statements that prove share ownership in an account. That requires a law firm to operate as a trustee to this info and would require individual shareholders to fax in account statements that can be verified for authenticity showing the shares owned. Regardless of clearing issues or anything else, this is absolute. why you need to have the stock halted is that this takes a huge amount of time and will be entirely dependent on people reporting them in (highly unlikely),