Replies to post #147498 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[eelfland]

I think they are lying in their 10-q, too. Or maybe it was true at the moment they filed, but they have gone on about their dilutive ways. I don't think these guys are to be trusted any more than any other penny stock promoter. They are in the business of selling STOCK, and little else, IMO. Further, I think that they're hiding behind that gagged TA, jacking up the AS so they can raise the OS (and lie about it in the PRs) and dump stock into the float. I don't have any proof of any of this, but it's the prudent assumption to make, under the circumstances. I still think that the highs are in (too many shares got dumped into that rally for it to happen again), and eventually these guys will be busted for some of the stuff they've pulled, and the stock will be halted, grey-sheeted, and delisted, or maybe RSed into some other line of business. Common shareholders will be left with nothing, as usual, once the facts are known.

Never believe what a stock promoter is telling you, if you want to make any money and keep it. And that goes for SPNG insiders, too. They'll lie to you to get your money. Otherwise they'd ungag the TA and get a real audit done.