Replies to post #238991 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[fourkids_9pets]

mingy ..

imo the person to go to for
any of that kind of info is
jim bishop .. i have to say
his *factual* posts where
all the regs are concerned
complete with links ~ have
been an asset to this *venue*

that said i agree .. there
is no in between here ..

it's all or nothing <and when
i'm referring to nss it's a
broad based application to
include all counterfeit shares
and the impact that would have
on the co./stk

--
4kids
all jmo

[Nadar]

We need another record revenue month for Spongetech.
I ordered thru SVC and it took 1 week to get my order of proprietary, patented, soap and waxed filled car wash
"ALL IN ONE" delivery system "SMARTER SPONGES".
From flyer
Coming Soon!!
-Kitchen & Bath Sponge
-Floor Sponge
-Medical Sponge
-Health & Beauty Sponge
-And much more!!

Nadar

[iKauai]

"the SEC halted to look into the company and see if it was lying, or a scam, correct?"

I'm afraid you are completely wrong here. SEC doesn't halt trading just to "see if it was lying" etc. That is what the initial investigation was for, hence the formal "SEC investigation" prior to the halt in trading.

Obviously the SEC found enough evidence from their formal investigation to give several examples of wrongdoing directly related to SPNG management in their letter that called for the halt in trading of SPNG.

What part of the formal investigation and then the subsequent halt don't you understand? And did you read anything from the SEC that referred to NSS? I think not...

[TEX]

So if they allow the market to open Monday, regardless of what exchange, if we are allowed to trade, shouldn’t we assume they didn’t find any fraud? If they found fraud, they would not let the stock open in my mind.

No, that's not the way "the system" works. The SEC considers a suspension to be a major warning to traders, investors, brokerages and broker-dealers. And because they abused their powers of suspension in the past, the SEC is limited to one, 10-day suspension for any given reason(s).

Your question is *entirely* understandable, btw. Lots of people ask the same question, especially when going through their first suspension.