Spongetech Delivery Systems Inc (fka SPNGQ)

[scion]

Correction - Extract - Page 17

While the Government’s application presumes that Mr. Metter will assert his Fifth Amendment privilege and even that he would be convicted in a criminal trial, Govt. Mem. at 14-15, Mr. Metter has and will continue to defend against these allegations. To be clear, whether other defendants are content with delays in these proceedings, Mr. Metter seeks to defend himself in this case and in the criminal case. While other defendants have asserted their Fifth Amendment privileges, Mr. Metter has not. His position is no mystery: he, like many others involved with Spongetech, believed that the foreign sales had occurred. His belief was well founded and more than reasonable. He did not participate in an unlawful distribution of securities. And one need only trace the proceeds of these sales to find persuasive evidence of that: while, according to the Government, tens of millions of dollars were generated by Steven Moskowitz through those stock sales, Mr. Metter received a total of approximately $300,000 in loans from Mr. Moskowitz.

Extract - Page 17
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