Replies to post #217576 on Spongetech Delivery Systems Inc (fka SPNGQ)

[big lug]

Again from the SEC website...

"the SEC suspends trading only when it believes the public may be making investment decisions based on false or misleading information. Suspensions give notice to current and potential investors that we have serious concerns about a company. A suspension may prevent potential investors from being victimized by a fraud."

So once again if the published O/S is 722 million and the company has dumped legitimate shares into the market and the O/S is now 3 billion why hasn't the SEC halted trading already?

Big Lug

[wolveryne9]

to counter that argument and i hope this doesnt get deleted because this is countering in arguement pcso the ceo was indicted for 13 counts of fraud and the sec still hasnt stopped trading on that.

[ELEA]

OS of 3 billion shares???? The pps would barely move! It seems to move up and down pretty well... 500 - 1 billion maybe.


-E

[Stock Stallion]

When and IF the SEC finds it has just cause, then it will halt a stock. I have no idea of the SEC time frame to implement a halt. Seems no one does except the SEC.

[sponge_digger]

Absoolutely!

Too many things point to the SEC investigation as a good thing lug. It would take some shocking news for me to sell one share at this time. Good luck to those who sell at the bell in hopes to buy back cheaper. Not to say it cant be done but to me that is high risk with so many sideliners. IMO, any word from company PR will be looked at as gospel in the midts of this scrutiny.


If you have had a chair for this long it does not make sense to give it up now and get caught without one. BUY - SMART, HOLD - SENSIBLE, SELL - HMMMMMMMM make up your own minds