Replies to post #273216 on Spongetech Delivery Systems Inc (fka SPNGQ)

[ozz112]

First off, it's sitting on his desk because SPNG has the option to file the 10K at ANY time. They have chosen not to file it, thus making it late for many months. Second, using the smallest amount of reason and deduction can enable someone to easily conclude the reason it has not been filed is because the information contained therein is false and fraudulant and was not signed off by their auditor. There is no...I repeat, there is NO other logical conclusion. Lastly, it doesn't matter one damn bit how many sponges they are selling or how manys stores they are because they have committed fraud and for some reason MANY on this board seem to think that great sales somehow will negate fraud. Sorry, it doesn't. The SEC investigation has not concluded or SPNG would have been allowed to relist on the OTC if things were peachy as many claim here. The last days of SPNG will play out with the DOJ formally charging management and likely a few others. After this takes place, class action will commence and will dismantle SPNG. There are thousands of shareholders who lost money in this fraud and they aren't going to simply roll over.

[K3RZD]

I believe that the only reason SPNG has settled the last two law suits ( where they would have won many $$$ ) is they didn't want to produce their financials as would have been required in discovery. They paid a heavy price to keep their financial records under wraps. SPNG might be negotiating with the SEC to settle with no claim of wrong doing. SPNG has to make lots of $$$ to pay the fines or move up to the NASDAQ or both.

We have to remember that we shareholders are ALL in this together - Metter, Moskowitz and Lasauskas and US. And what helps Metter, Moskowitz and Lasauskas, helps US.

[TEX]

And so why do people keep posting about this stock? Why does it remain a favorite of investors on IHUB and other boards?

Just my informed, experienced opinion (JMIEO), it's because it's so outrageous: peeps are drawn to outrageous plays.

Why has the pps held firm in this range?

Who can say?

However, many were notified in advance that grey trading is weird.

Can you support your claim that the 10K is on Moskowitz's desk? Where does that information come from?

Not aware of anybody credible claiming the 10K is "on the desk." I *do* see peeps claiming the 10K is already filed, or the SEC or FINRA is somehow wafting magic dust over those documents: makes *no* sense to me.

Why do you present it as a fact when it is clearly just an opinion based on nothing but speculation?

Why does Spongebob remain the best seller in the bath category on Amazon.com?

No idea--not following this part...

Why hasn't the SEC halted trading?

The SEC did suspend trading--that's exactly why this issue trades grey.

Why do management continue to add retailers such as Publix? Why? Why? Why?

Apparently, it's in their best interest.

And why are you here, again? What is the point if this stock is so done? Why not just go on about your life? Who are you saving?

I think it's from the general sense of outrage. Sure, you can be angry about the SEC's lack of competence.

But it's also the raped-raw-feeling of countless ENRONs and WorldComs and innumerable scammy BBs and pinks.

Basically, public companies are supposed to be transparent.

That includes float, O/S, and A/S.

Thanks for your honest response...smile.

You're welcome.

*smiling*, too