Replies to post #162321 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[SRV-90]

Correct, SHO and phantom shares are a separate issue.

[CYRXorbust]

the price is not moving because there is no current demand for the stock.. i do believe that there is a NSS but i dont think the MMs manipulate the price everyday. if we get enough demand then the price will move up accordingly.. i think investors are just waiting on the sidelines for a sign that this is goign to shoot up.. until then sideways we go

[Jamsta]

When the 10 comes out, PPS will rise.

How can MM walk down the PPS of the stock?

[Playtowin]

You can bet the SEC is watching this situation. They have a database on this stock and the counterfeit shares. I filed a complaint on 4/9 about this perceived activity. Here is the response:

Dear Mr. XXXXX,

Thank you for contacting the SEC regarding your concerns. We welcome hearing from you because we keep a database of information about the complaints and inquiries we receive.

This database allows us to track whether a troubling situation may be developing about a particular issue, company, broker, stock, or other securities product. The information you have provided will be reflected in our database.


Sincerely,

SALVADOR P NERI
Office of Investor Education and Advocacy U.S. Securities and Exchange Commission 100 F St, NE Washington, DC 20549-0213
[phone]



---------------------------------------------------------
COMPLAINT
---------------------------------------------------------
Submitted: 2009-04-09
Send Copy: A copy of this may be sent to the entity.


INVESTOR INFORMATION
Name: Mr. XXXXX
Address: XXXXX
XXXXX
XXXXX
UNITED STATES
Day Phone: XXX-XXX-XXXX
Alt Phone:
Fax:
Email: [e-mail]


ENTITY INFORMATION
Name: NITE, UBSS
Type: Market Maker
Rep.:
Address:



SECURITY INFORMATION
Name: Spongetech
Symbol: SPNG.OB
Type: Penny stocks


COMPLAINT INFORMATION
Providable Documents:
- Nothing is Available to me.

Description:
As long as these market makers are not regulated they continue to NSS to their delight and Advantage. Counterfeit shares are everywhere. The only liquidity they provide is for themselves and the shorts as they attempt to drive statups and others into the ground so no one has to cover. Also where can we begin comment on the new shorting rules during the next 60 days. It is rumored that SPNG.OB is massively shorted. Nothing shows on Regshow lists because the mm's cover each other within the proper time frames. All this is IMO of course At least put a mechanism in place so there is transparency in OS shares and TA's cannot be gagged. There is just as much illegal activity in the OTC market as there is in the larger markets. This is where the poor people live and try to invest. Hire more people to police activities but don't get them from wall street.




ACTION INFORMATION
Complained to:
Legal Action:
Description:

This is not a fake document. LOL
Everyone needs to file a complaint (IMO)