Replies to post #31772 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Carpedeim357]

Dark lady when we see crazy runs like we can with penny stocks forced covering is just one reason why. I know my broker sure doesn't want to pay me for shares that he is supposed to get delivered. He will force them to be before they pay. There is a reason why mb's on BIHC have increased in negative attacks since cash div pr. Many did not think Galo get bd to approve a cash div of any amount. Brokers will force delivery by pay date. Until they know date all they can do is try to get people to sell. Once date is known they have deadline. With penny stock always remember when the negative attacks pick up ask why? What do they gain from working so hard to get people to sell? SHort covering of BIHC is why.

[WatersWarm]

Darklady, I am pretty sure they have to carry insurance. Scottrade assured me that on any settled trades they would back them up, and that I had no need to transfer them into certificate form. Then the guy went on to say that each investor is insured for $400,000. Something to press your broker on.
All IMO and GLTA