Replies to post #170673 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[phrantic]

None, only the amount is the million dollar question. IR says 1.5 billion, yet they are not willing to put that in writing, nor are they willing to publish the NOBO, hence the wild speculation now assumed as factual regarding the numbers. There are other ways to create the manipulation that's plagued SPNG for over a year now and NSS is only one of them. Based on management's refusal to publish the NOBO or put in writing what IR so boldly claims, IMO it is highly questionable the numbers bandied about as factual are anywhere near reality, although there is no doubt the resulting MOMO is a great lure to those looking for that kind of play.

[overachiever]

What are some of the other possibilities, that would cause REG SHO for 19 days?

The most common cause with penny stocks is contract short sales through Europe whereby insiders (most likely RME in this case) with large holdings liquidate restricted stock early. The stock position is balanced out when the restrictive legends are removed. In the meantime, the insiders pay a fee to the European liquidators. These programs have been around since the early 90s and take advantage of international arbitrage laws.

This stock is listed on the Frankfurt, so there you have it.

[spongeboy]

RegSHO and naked shorts

We are on the RegSho list - this is the list for naked shorts - think about it - there are i think 11,000 +/- stock tickers on public companies and 33 or so are on the RegSHO list-- and we are one of them. if we have 722M shares outstanding we need to have 3,610,000 FTDs reporting by DTCC to stay on the SHO list every 5 days. I think today is day 20 but it doesn't matter - we are on the list. With the 10k coming in 6 days - and with the sales figures to be $50-60 million-- and we did $50 mill in the last 90 days or so. if you were short today-- Why would you not cover. Unless you are naked at .03-.06 .? Management talked about NSS in June of 2008 . The fact that we are on SHO makes this real. do a member search for spongeboy and read my posts. NSS are real that is why our volume is so low - that is why I am so long.