Replies to post #274059 on Spongetech Delivery Systems Inc (fka SPNGQ)

[rsqfyrmedic]

Am I assuming correctly that the SEC just told us the investigation is complete?

[puppydotcom]

A Slap on the wrist for the M & M boys....a fine to pay and "don't do it again" by the SEC....time to move ahead.

nope .. not this time and not with spongy .. its going to be down and dirty ...

[TEX]

Lord knows the SEC has handed out way too many "slaps on the wrisst" over the years; however, the Congressional interest in the agency' major oopsie with Madoff, it seems keen on ramping up its reputation as an effective enforcement group.

[KLee]

I think once again they are giving us an opportunity to digest this information and not act on EMOTION come Monday. If Sponge boys have so much to lose, and their careers and company is finished, why not file this at ANY time? Things that make you go hmmmmm....

[frankdenver]

Agreed Jackie.

I didn't see anything about disgorgement, Officer and Director bar, etc.

I'll guess a civil penalty of $100K each against M & M. "Without admitting or denying the allegations" of course.

Slap on the wrist for their idiotic actions. I just wish they could run a business as well as they market their products. I hope Pike's intention is to inject some qualified business people into this BOD.

Frank