Replies to post #274042 on Spongetech Delivery Systems Inc (fka SPNGQ)

[Risicare]

You realize with the severity of this Wells notice parallel criminal criminal charges are quite likely?

[puppydotcom]

"The key point in the definition is 'CIVIL ACTION' not a crimminal action. This is the beginning of the end and it is not looking to bad IMO."

thii is not the end .. it simply means they plan on charging the company with numerous counts of civil fraud and as they proceed and if they find other issues at anytime they can refer the findings to the DOJ and the DOJ can refer them to the IRS .. that's how this process works .. It would be best to learn these things before you start posting misleading statement to the share holders based on your opinions

[Stock Stallion]

ummm NO, SEC will pass on it's findings to the DOJ ( dept. of justice) this is only the beginning of where this mess is going. stay tuned

[weeblewobble09]

Except that actual revenues are probably a fraction of the numbers they provided and actual O/S is about 6 times as great.

[overachiever]

The SEC doesn't do criminal penalties. They only do civil. The criminal side will be initiated against the SPNG crooks by the US Dept of Justice. They have been on this thing since early in the fall. Within the next two years, I expect to see Fat-Boy Moskowitz pounding rocks at a hard time hoosegow.


"The key point in the definition is 'CIVIL ACTION' not a crimminal action. This is the beginning of the end and it is not looking to bad IMO."