Replies to post #278803 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

The Form 4, as to the purchases of the 6th, was due. See Section 1.(a):
http://www.sec.gov/about/forms/form4data.pdf

The SC 13 D/A due date is less specific:
Rule 13d-2 -- Filing of Amendments to Schedules 13D or 13G
a. If any material change occurs in the facts set forth in the Schedule 13D required by Rule13d-1(a), including, but not limited to, any material increase or decrease in the percentage of the class beneficially owned, the person or persons who were required to file the statement shall promptly file or cause to be filed with the Commission an amendment disclosing that change. An acquisition or disposition of beneficial ownership of securities in an amount equal to one percent or more of the class of securities shall be deemed "material" for purposes of this section; acquisitions or dispositions of less than those amounts may be material, depending upon the facts and circumstances.

"Promptly" is defined in the rules somewhere.......but not so's any human could understand it. And his purchases did not meet the materiality test (7.22million). So it appears that it could be said that the 13 D/A wasn't due at all. I wouldn't be surprised if Pike has the practice of amending a standing 13D whenever he files a transaction on a Form 4.


Always check my work.