Replies to post #272460 on Spongetech Delivery Systems Inc (fka SPNGQ)

[puppydotcom]

looked more like a standard issue warning to me..they saw something they didnt like and indicated they would be investigating everything and everyone..

yea, its pretty much the standard boilerplate type notice when investigating a company for securities fraud

suspending them along with the investigation .. did get everyone attention ..

and spongy not filing by now is even keeping more attention on spongy .. and not in a good way ..

the company should offer some kind of PR .. explain at least something .... to ease the pain

[Risicare]

You have not read many SEC releases then as many times they address a single issue. When they blanket all the filings and releases by the company that is a very, very bad sign.

[pantherj]

The suspension letter was far from standard issue. Note the reference to multiple issues and the severity of the implications. If the SEC had questioned one or even two areas, one might be able to make an argument that there was a simple misunderstanding or some over sight that could and would be corrected. The SEC, however, questions everything about SPNG. The sales, the revenue, the customers, the investments, the past filings ... everything. SPNG is surrounded and under seige.