Replies to post #211145 on Spongetech Delivery Systems Inc (fka SPNGQ)

[mms1]

I think the Government wants their money regardless of the validity of the shares. If that money goes into an account it would get reported.

Now if the people or companies are crooks they can hide anything. Just ask SPNG management how they would work the system.

[Mingy]

Of course they would have to pay taxes, capital gains, however I think your confused. The shorts have not covered their position, to think they could cover 500M shares without the price exploding is silly. They are still sitting on a short position between 2 and 5 times the float. They will be losing billions on this when all is said and done. Don't get fooled into thinking the shorts have covered. Sure maybe the children bailed, but there is a strong group of people holding, who know they have shorty trapped.

[JohnnyCasino]

Thats a great question Spin. And may shed some light on their legal standing. They remind me of the credit default swap situation. Except there will not be a bailout this time.