Replies to post #273796 on Spongetech Delivery Systems Inc (fka SPNGQ)

[zomniac]

It is amazing that cult investors always think the world is watching,
and earth shaking events are about to be caused,
by the particular promoted scheme they've fallen for.
and then there's
Some sanity on an insane board:

To FINRA, who deals with the entire community of stocks both large and small, SPNG was nothing but an unimportant bulletin board stock... an inconsequential speck of dust in within the greater markets. Now that the SEC has kicked it to the gray markets, it is less than a speck of dust to them. To them it is a pariah and unless and until it can get its act together, get current in its filings and convince a market maker to file on its behalf, it won't be given a second thought by anyone at FINRA.

Many people here have an exaggerated opinion of where SPNG fits in the greater scheme of things. While the money you have wasted on SPNG stock may make it important to you, I assure you, to those in the industry, it's nothing but another bulletin board scam that was caught and is now in its death throws.

Check Investors Business Daily, the Wall Street Journal and Business week. Check the Motley Fool for that matter for recent updates on SPNG. You will see, it only matters here and here is as close to nowhere as you are going to find in the world of stocks.

[spongeboy]

I called e-trade

I asked the rep who answerered to explain to me how we could trade between .04 and .05 for 60 days in a row. I said I had put in sells for .03 (that filled at .04) and when the stock showed an upternd with last trade at .05 I put in a "market buy" that filled at .04. He said the grays are tough and alot of trading is manual and in his experience grays usually go on a slow decline in PPS and volume until they hit PPS at par (.001 or .0001) and volume of zero. SPNG , he said, is unusual. He could not explain the ceiling at .05 but said that "someone is definatly supporting the floor price at .04" -- "this just doesn't look right" based on that I thanked him and asked for a supervisor who might have a better handle on grays. I was transfered after a short hold and the conversation was almost identical. "The floor of .04 is support from somewhere" I asked if etrade had any note in the system regarding the SPNG Situation. He said that "all info is public and we (etrade) don't have any special notes in the system." He remembered the runup to .28 and asked me what happened. I told him I did not have the time and would have to go.