Replies to post #250077 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[no_BS_plz]

I thought this may be a good post to reveal a few things regarding the light trading of SPNG today...especially if attempting to place a buy through Scottrade.

1) I believe it was fourkids 9pets who posted the breakdown showing NITE as the highest seller of SPNG...so if a large short position exists, logic tells us that NITE would be a major player.

2) Testing this theory, I placed buy orders thru ST today at .04, .043, .045, .049, and .05, none of which filled, leading me to believe ST cannot find a seller. But, other trades have gone thru...Hmmm...

3) I also have been trying to buy AS*X thru ST and remarkably they are only filling sell orders, after the PPS recently dropped from over .07 to below .02. I was ready to make some good coin, but lo and behold, no buys as there appeared to be some "settlement issues" according to ST. Hmmm...could it be NITE shorted this company at .07+ as blatantly as they have been doing with SPNG? Once the price rises above .03 or .04, my guess is NITE will start selling again.

4) This begs the question, "Why pick on NITE and ST?" Good question.

5) The following quote comes from "the street" and can be easily found by googling for the link, but you must have a membership to read the complete article..."Amid some controversy, the Securities and Exchange Commission released a study ... Scottrade sent 66% of all Nasdaq orders that were nondirected to Knight Securities."

6) Ah, nothing but more conspiracy theories right? Well, maybe not after reading the article in the link below.

http://www.stockbrokerfraudblog.com/2009/10/scottrade_fined_600000_by_finr.html

7) Hmmm..."Inadequate Anti-Money Laundering Program." If memory serves correct, isn't money laundering exactly what our naysaying friends have been accusing SPNG of? Now, mind you, FINRA never mentioned those words with respect to SPNG, AS THEY DID WITH SCOTTRADE, who of course, places 66% of trades thru NITE.


This, of course, begs the final question...Just who is under investigation now? We see the recent filings, a sign of SPNG getting their house in order before completely catching up on remaining filings.

Are other houses in order? Well, we see already that ST has been fined by FINRA...oh, and 66% of ST trades go thru NITE...oh, who has provided the highest volume during the past few months' trading...Hmmm...it all makes me feel a little better about holding my shares until everything plays out.