Replies to post #286242 on Spongetech Delivery Systems Inc (fka SPNGQ)

[Stock Stallion]

How many Sponges are being sold every day?
If Scam why would the SEC not shut down the operation?
Why doesn't SEC publish something after months?

More Perplexing than unregulated NSS!

Nadar

for one we have no idea what is being sold and what the REAL revenues are without the filings.

two, the SEC can't shut this down. they are only allowed to suspend trading in SPNG and they did that. the SEC investigated and issued a WELLS NOTICE.

three, SPNG has until the end of the month to answer the wells notice with a WELLS submission. ( which i doubt they will do)

[Virtual Drew]

SEC has it's own bureaucracy it's required to follow.

It's the US Government, for Pete's sake!

SEC would hope most prudent investors would think twice before investing in SPNG, considering they

- Suspended SPNG
- Served a Wells Notice on numerous counts of securities fraud

Do people need a tattoo on their forehead that says "Think Twice"?!?

[WPOSullivan]

The Sponges are out there...

CVS, Walgreens, Kmart...

I have bought them in stores myself.

I have stopped in every local CVS & Walgreens in the ChicagoLand area close to me, some had them, some didn't.


The big questions is, how many are getting sold and what's the profit margin?

There is no doubt, the product is out there. For how long?


WP

[puppydotcom]

How many Sponges are being sold every day?

thats what the SEC is going to tell us .. and how can the SEC shut down spongy? They enforce the rules and regulations of the SEC
the courts will have to do that under special circumstance

SEC, FBI involvement = court order


http://www.ocregister.com/articles/sec-228260-labry-cherokee.html