Replies to post #273303 on Spongetech Delivery Systems Inc (fka SPNGQ)

[ozz112]

NSS is extremely rare IMO and maybe nonexistent in today's market except for very short holding periods. Any company has access to a list of their shareholders right? The list includes the number of shares owned by each shareholder right? So let's say SPNG's lists all added up come to 2 billion shares owned by their current shareholders, but SPNG has only sold 500 million of their own shares. I'll tell you what...I wouldn't go around releasing press releases about having naked shorts and the such. I'd walk into the SEC and provide them documented proof that 1.5 billion shares are owned by shareholders which my company did not sell and demand the SEC enforce naked short selling laws by getting rid of them and prosecuting them...I'd also take a prepared press release into the SEC and tell them if they did not take immediate action, I would release this press release stating that the SEC was presented undeniable evidence of 1.5 billion naked short shares and they refuse to do anything about it and I would release the evidence of the short position with the press release. I would also give them a list of news outlets that I have contacted and plan on giving interviews to if action is not taken.

You don't think if NSS exist and a company does that, the SEC will not take action? Why hasn't a company tried taking such action? Because 99% of the companies which cry naked short are lying and the other 1% have small amounts of naked short positions and those are very short-term and disappear quickly. Use your common sense people.

[TEX]

buyins.net

not exactly credible...

You get the background there, right?

[gentlegiant45]

IMO the SEC would do what I believe they are doing now orchestrating a safe and sane correction to the extent they can before letting it loose for the markets themselves to correct. I believe there will be a short squeeze, but much less destructive to the OTC markets than it could have been. IMO the SEC was presented with factual ,evidence of a rather large NSS position in SPNG and they have chosen to avoid another VW like the German markets had.

If anyone thinks the trading that has been going on recently is normal they are sadly mistaken. This trading is being manipulated by the powers that be. I already hear the peeps saying that is against the law! You are correct, but the SEC has taken the lesser of two evils in this case and there will be very little evidence to prove manipulation when they are through here.

I have flipped this a few times since my initial buy in, but I am in it until the end, this is just too interesting, to watch from the sidelines.

This is all just my humble opinion so take it for what it is worth. GLTA Go SPNG

[Nikodemos]

Hmmmmmmmm, conspiracy theories? If you go to buyins.net you find alot more than theories regarding the existence of naked short selling strategies. And since SPNG has been one of the most shorted of all stocks in the entire market according to SEC information, I wonder what the SEC's policy is in regards to a situation guaranteed to create a MOASS? For instance, if 500 million shares of shorts exist in the float and SPNG or Pike or someone else buys up those shares and put hold onto them, then what happens? Don't tell me that is impossible because one of the nss favorite ways to get unaccounted for shares of shorted shares is to have a broker or MM "accidentally on purpose" mis-mark the forms they must fill out at the end of a day of trading...if they do this consistently over the course of two years (yes, records prove nss of SPNG has gone on for more than 2 years) then a few million shares mis-marked here and there for two years could account for many hundreds of millions of shares mis-marked and not being actively looked for by the SEC...even billions of shares could end up being marked as Longs when they were really short.....so if billions of shares of short shares existed in the float and someone like SPNG bought back and retired the entire float...what would happen? Not just a MOASS, but something much more sinister....an impossible to rectify situation. What would the SEC's position be in that situation? That is a question I would like to get the answer to....anyone have a guess?


Well put. I often find this subject brushed under the rug. Unfortunately, even with RegSHO, leading to FTD's & grandfather clauses, the system is purposely ineffective. Such that a law, which goes unenforced (sans prosecution) is really no law at all. The US Capital Markets are too steeped in fraud, with NSS, and although I am hopeful that might change,...I find it naive of me to believe it will.

[puppydotcom]

I would like to get the answer to....anyone have a guess?

my guess is

it has nothing to do with spongy being suspended and under formal investigation for stock fraud

every penny stock I follow - has a massive NSS conspiracy and if they get suspended or investigated .. the conspiracy grows leaps and bounds .. clearly focusing the blame for the company woes on the phantom NSS ... with zero proof .. just like spongy