Replies to post #345175 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[cowtown jay]

If it was the SEC making the recovery, as they should be, the money would go to shareholders. I don't know about IIROC recovery.

There are still 2.2 billion more shares that were sold illegally, according to the SEC. If the SEC:

a. does what they have done in the past (when they felt like it), they will charge the people who benefited from selling the unregistered shares, and thus act in accordance with the law, especially when you consider that there was an established stock distribution network, and the beneficiaries received numerous issuances, each. Or,

b. if they have forgotten how to do that, they can do exactly what IIROC has done. Just follow IIROC's almost perfect lead.

Then...maybe the SEC can drill down a little more. There are those two Registered Reps I discussed in my Summary (or Update) to the bankruptcy judge, who seemed to have trouble marking short sells accurately. Every day. Day after day, week after week, and month after month. And wouldn't you know it? They work in the same branch office as...well, never mind. The SEC can figure out whether there were internalized trades that were not reported.