Replies to post #249655 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Hedge Starz]

if the "SEC has serious doubts about certain aspects of the company" they would do more than stop trading for 10 days and then let the public sit in the dark for months........maybe they don't have "serious" doubts then

clearly they don't feel the need to comment on SPNGs situation....they are fine with placing a blindfold over the publics eyes

[thegoodlifeGeo]

You are Kidding right???
All this talk regarding the so-called SEC "investigation" would be incredibly funny if it were not so pathetic.
You do understand that the SEC is the most totally and hopelessly inept US Government agency ever created???
Many even believe they are so thoroughly corrupt that a complete wash of the entire staff is the only solution, which will Never happen, but the fact that many believe this is the only solution is a bad enough statement.
The SEC has missed SO much, (Madoff, Lehman just to name the most recent cases) that I have no reason to believe Anything that comes from this organization.

Here is one person's slant on the SEC:
"Simply put, there is now an abundance of evidence that at least one of the “big three” ratings agencies is corrupt to its core. However, this report also provides yet more evidence that the SEC is also rotten to the core. When a regulator won't initiate investigations on its own – even during the most rampant wave of mortgage and securities fraud in the history of markets and it also ignores any and every “whistle-blower” who tries to report such fraud, there can be no justification for allowing this bureaucracy to remain in existence."
http://seekingalpha.com/article/164405-sec-ignored-warnings-of-ratings-fraud

And another:
"As I said, Markopolos warned the SEC about Madoff in 1999. He then met with an SEC official in 2001. Markopolos refused to back down from his stance that Madoff was a fraud, sending a damning document to the SEC in 2005. Acting in part on information supplied by Markopolos, the SEC once again investigated Madoff in 2007 and didn't find any evidence that he was operating a "Ponzi scheme".
You really have to wonder what happened at the SEC. How could they not have realized that this was a "Ponzi scheme"? I mean - it WAS a Ponzi scheme! Surely the SEC would have realized this after turning over a few stones at Madoff's operation. Was this negligence at the SEC, or something more sinister?"
http://www.davemanuel.com/2009/01/09/harry-markopoulos-completely-nailed-the-madoff-fraud-but-the-sec-did-nothing/

The SEC has also been accused of pulling the trigger way too early in some investigations while totally blowing others. Whether the reasons for this are ineptitude or corruption is totally besides the point. Nothing the current incarnation of the SEC can be believed or relied upon as either truthful or unbiased, which is what I want in an Oversight body.

"Innocent until Proven guilty" is not just a saying, it's our way of life.
I have yet to see anything but hearsay and supposition on this. Until Much more information is released or the DOJ becomes involved and starts indicting people, I reserve my judgement on SPNG.
All this is IMHO. GTLA still in this one...