Replies to post #170864 on Spongetech Delivery Systems Inc (fka SPNGQ)

[phrantic]

Well, IMO if they are still here in the huge number being touted then certainly there is no doubt they have made millions and millions over a year+ in time and any forced covering at this point would then be inconsequential to them. Just really nags at me, these hedge fund guys that so often are behind shorts/NSS just are not that stupid, they know how to play the game. Someone will make bank writing about the covert machination that's plagued this stock one of these days regardless of the source.

[SirZ]

I remember reading somewhere about some advice that people were giving to those hit by Madoff to keep their assets from being confiscated to pay for the clawbacks they're doing -- that certain asset classes could not be taken if you declare bankruptcy.

I believe it's a possibility of what they're dragging this out for, to transfer assets to somewhere that can't be touched if the poop hits the fan for them in this SPNG play...

[no_BS_plz]

If you don't mind my getting in this conversation. I am of the mind that the NSS does go way back and had been long since forgotten like so many other penny stocks shorted into oblivion.

This one just put a plan in place that seems to be working, and now those shorts may be exposed.

I kind of agree with SirZ regarding the current situation, in that shorts are still being sold, but bought back by the same ones who did the shorting.

The reason I believe this is because the people holding this right now is just not willing to part with their shares. Trading, of course, will continue.

I just think there is a lot of old shorts that remain uncovered, from the .01 and .02 days.

All JMHO.

[WatersWarm]

Wadi,
I've thought the same thing. These guys knew they were cornered and have had time to move there assets. As a broker backing these guys you would think they would have hit a margin call by that point? If the position is really that large these brokers have really stuck their necks out for some crooks.
Either way as long as we get paid and these guys don't get let off the hook for this thing.