Replies to post #259177 on Spongetech Delivery Systems Inc (fka SPNGQ)

[alien42]

i would not use the term 'okay' however i would say the SEC 'allows' plenty of scams to exist on the Pink and Grey Sheets.

considering that neither the NASD, nor the SEC require Pink Sheet companies to maintain current reporting status or file audited annual statements is a good indicator of that. the vast majority of Pink Sheet stocks are share printing pump and dumps or dead shells/startups.

[alien42]

SPNG is

Latin for 'let the buyer beware'

yes the SEC has done their duty.

[puppydotcom]

So, the SEC is okay with total scams just as long as they are trading on the Grey's? Is that how it works?

they suspended them so people will know there are serious problems with spongy .. and thats how investigations work

they must investigate .. and are not interested in your time tables