Replies to post #273238 on Spongetech Delivery Systems Inc (fka SPNGQ)

[Ralph22]

You prefer that a government agency would have the power to remove corporate officers and insert others? .....yikes. Facism at its finest

[MorningLightMountain]

wow, we would need a boatload of new legislation to give the SEC all those powers!!!!!!

[TEX]

then I would prefer the SEC remove them from their positions and insert honest officers into their places.

Yes, it is possible that the SEC causes such a removal.

BUT, they can't do it unilaterally.

That is, it's not like a 10-day suspension; in order to get some scamball bounced outta the picture requires a judge to order that said scamball can't be involved as a principal in a public company for "x-amount" of years.

Not easy, not quick, not cheap...