These Amendments, going back to March 2007, were filed 10 days after the company was notified that the SEC was progressing to the Formal Investigation level. The Informal Investigation was commenced in May 2009.
"Item 8.01. Other Events
On September 18, 2009, the Company received a formal order of investigation issued by the SEC regarding possible securities laws violations by the Company and/or other persons..."
The Complaint itself was initiated one full year after the Formal Investigation was commenced. The Complaint began as follows:
"1. This case involves a scheme to increase demand illegally for, and profit from, the unregistered sale of publicly-traded stock in Defendant Spongetech Delivery Systems, Inc. ("Spongetech" or the "Company")...
6. Defendants Metter, Moskowitz, and Spongetech illegally distributed approximately 2.5 billion Spongetech shares in unregistered transactions through Defendant RM Enterprises and other affiliates, which acted as conduits for the Defendants to distribute restricted shares in unregistered transactions to the public."
Registering the stock "as of 28 September 2009" is kinda like closing the barn door after the horses have gotten out, isn't it?
As far as the SEC's charges regarding the sale of "...2.5 billion Spongetech shares in unregistered transactions..," I usually say "if the SEC's charges are correct," when I speak of things like charging those who resold the shares they received. You're not saying that, too, are you? Because my reason for saying that really has nothing to do with these Amended filings.