Replies to post #225658 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Mo-John]

AT LAST SOME NEW INFORMATION! (I WAS GETTING TRIED OF PEOPLES OPINIONS -BOTH PUMPERS AND BASHERS!) THKS - BS

Moving on to the D&T situation, I have spoken to several members of Big 4 firms, the sources I would NEVER reveal on this board. They have all told me, in no uncertain terms, that D&T is overseeing the entire SEC investigation and helping Robison to get everything in order by the filing date. To a person, they said they would be shocked if the 10K is not filed by Oct 16. When asked about the FINRA appeal, they said this is SOP (stndard operating procedure), as we are now within 2 weeks of the 10K being due...no mystery, nothing to read into it.

[hasher]

I have absolutely no confidence in your pro spng posts.
Everything thats been exposed in the last few weeks, together with the nice SEC investigation makes me remain confident that this is merely a scam and nothing else.
So far, the trend shows I may be right and the amount of longs throwing in the towel is one more indicator of low investor confidence.

[Nadar]

Thanks again no_BS_plz. I knew I wasn't dreaming these facts!
snipped
- Moving on to the D&T situation, I have spoken to several members of Big 4 firms, the sources I would NEVER reveal on this board. They have all told me, in no uncertain terms, that D&T is overseeing the entire SEC investigation and helping Robison to get everything in order by the filing date. To a person, they said they would be shocked if the 10K is not filed by Oct 16. When asked about the FINRA appeal, they said this is SOP (stndard operating procedure), as we are now within 2 weeks of the 10K being due...no mystery, nothing to read into it.

nadar

[Caddyshaq]

no BS - there were posts earlier indicating that RME and Alfie had liquidated their positions and another showing an enormous outpouring of issued shares since 6/1/09...

have you had an opportunity to review those posts and if so, what's your take?

thx in advance

[mem22]

Excellent post no_BS
Good to see there are still some clear thinking posters around
We could all benifit from useing our brains and not our emotions at this time.

[Ret Mil]

No BS-
Your name truly says it! Thank you for clarifying things about all the info (or disinfo) that we read on the board nowadays waiting for the 10K to come out. I for one as a long SPNG investor who does not do this for a living appreciate your insight and honesty.

Retired

[riverandfold]

thanks for the post No_BS....very nice. I too am a Global Finance mgr for a $1B chemical company and I concur with everything you have posted.

River~

[just_an_ant]

I say BS no_BS_plz

" RME has been providing the LOC, in essence, by financing SPNG A/R. Nothing more, as it was paid back at cost, which is better than to be obtained at a bank or other financial institution, which charge interest usually based on an average daily balance for the month, similar to our credit cards, which is essentially what it is."

that's horrible.

is it really shown as a loan?

but not arms length?

while no interest may have been charged (uh oh)? the IRS would surely look for imputed interest....

http://www.answers.com/topic/imputed-interest

now you want to open that potential exposure risk?

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i've exceeded my personal restricted amount of posting on this board lol

[ckayela]

Definate member mark for you! Glad to have someone that can clearly explain things without "BS". LOL

[ELEA]

Another most excellent post tonight!!! -E

[big lug]

Thanks No BS,

Another quality post. And a keeper!

Big Lug

[janice shell]

They have all told me, in no uncertain terms, that D&T is overseeing the entire SEC investigation and helping Robison to get everything in order by the filing date.

Accounting firms do not "oversee" SEC investigations. The SEC has its own forensic auditors, you know.

We don't even have proof that Deloitte Touche has signed a contract with SPNG.

These same forensic acoountants/auditors have said that if the SEC thought things were not on the up-and-up, the stock would have been halted immediately.

Really? EESO is being sued by the SEC, and there's no trading suspension.

[Fire Lane]

DT didnt say that, I have talked to them at length , they are not doing anything for SPNGE at this time

[hasher]

- Moving on to the D&T situation, I have spoken to several members of Big 4 firms, the sources I would NEVER reveal on this board. They have all told me, in no uncertain terms, that D&T is overseeing the entire SEC investigation and helping Robison to get everything in order by the filing date. To a person, they said they would be shocked if the 10K is not filed by Oct 16. When asked about the FINRA appeal, they said this is SOP (stndard operating procedure), as we are now within 2 weeks of the 10K being due...no mystery, nothing to read into it.

These 'members' dont sound like the best sources