The magic letters with forged signature somehow appeared at the transfer agent and the insiders' restricted shares were thought by the transfer agent (relying on forged letters) to be unrestricted, free-trading shares.
Gulp! .. gee, how could anyone ever figure that one out ~
I think SPNG paid some stock promotion company in 6 month restricted shares and the promoter photoshopped the letter to lift the restriction ledger to get paid. I also think Moskowitz found out and didn't tell anybody which makes him an accessory after the fact. JMHO
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