Replies to post #214445 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[extremeapathy]

why would anyone be surprised at this point? if they are shady, it was coming. if this is all a set up and shorters/others have it out for the, they probably flooded the SEC with complaints along with a bunch of bitter shareholders.

[lucky, mydog]

wow, an sec investigation.

[lucky, mydog]

Now WHY won't they tell us what the o/s is?

hummmmm?. that new a/s seems to be a very odd number. i wonder why? lololol

[wadirum1]

I wonder which of the sellers this week got early wind of this... Meanwhile, retail is left scratching its head over the declines. Stinks IMHO.

I used to hold my shares and my nose. Now just the latter.

[nWo]

the o.s is 2 billion at least the volume activity alone is a red flag that makes you wonder on this security...this company has been massively dilluting shares.

[MorningLightMountain]

I haven't seen a Sponge commercial on the tube now for some time.....or am I just missing them????

[Anvil]

Looks like this may be temporarily suspended on Monday, then go to the greys. Been happening alot these days. Glad I sold out.

[coffee02]

So Janice does this mean that the pps will continue to go down or is there hope?
Mrs Coffee

[liable]

A formal investigation, wow.

This usually happens after months of informal questions and communications from the SEC. This didn't all of a sudden just happen. SPNG management has not been fully cooperating, hence the formal investigation with subpoenas.

Next stop Grey Sheets.

[hasher]

Item 8.01. Other Events


On September 18, 2009, the Company received a formal order of investigation issued by the SEC regarding possible securities laws violations by the Company and/or other persons. At this time, it is not possible to predict the outcome of the investigation nor is it possible to assess its impact on the Company. The Company and its officers and directors have received subpoenas requesting the delivery of certain documents. The Company has been cooperating fully, and intends to continue to cooperate fully, with the SEC with respect to its investigation.

been away for 4 days. Just saw this item. This cant be a good thing, if I am not mistaken