Replies to post #292407 on Spongetech Delivery Systems Inc (fka SPNGQ)

[LoanStew]

Mingy,
Let's get a few things straight.
1.You are blaming the wrong people for destroying Spongetech. First, you have no absolute, 100% proof that any significant short position exists in Spongetech. Making the NSS list takes the most minute percentage of a position, relative to the volume of the stock. And the SEC has made it clear that L2 is NOT valid proof of anything, and that they flat out toss such "evidence."
The people who destroyed SPNG are THE PEOPLE WHO RUN SPNG. Companies that are profitable, that have revenues 9 times the prior year, do NOT miss filings. They can afford the BEST audit teams, the BEST financial gurus, the BEST anything. You can pay a team of accountants when you're bringing in that much dough. However, they DID NOT. Instead, they have NOT FILED, they have NOT released audited, updated sharecounts via an UNGAGGED TRANSFER AGENT.
2.If you are doing anything, you are bringing more attention to the company, to the Wells Notice, to the bouncing to the greys, to the lack of filings, to the lack of any documentable information to accurately, AUDITED-ly (if that's a word?!), show the CURRENT FINANCIAL STATE of SPNG, including who they have given shares to, if they were given legally, if they were registered legally, and exactly how many shares are out there.
Considering all of the charges that SPNG listed in the 8K that were in the Wells Notice, I think you might want to be rethinking WHO the criminals are.
3.If you want to "protect" your investment, you're going about it 100% backwards. The more eyes you bring, the more likely the bad stuff will be found in the COMPANY, and that your theories, as that is all they are (including attacking someone here and posting information that is not even on topic), are way off base.

Oh, and for the record, I don't own a share, never shorted it, never owned it, don't plan to ever own or short it (the latter because it's not possible, but that's another story). Having seen this before, in many other stocks (all with horrible endings, I might add), I am quite interested in the story, in the psychology of the story, and how people react to it. I post my opinions based on the information I have read and compiled on my own. And will continue to.
IMO/FWIW

[bballcoach10]

I, and I know many others, appreciate your work here

[sponge_digger]

EZ cowboy! I'm on your side. Just making a point that (IMO) this is much bigger than you think. You can stand up and pound on your chest all you want but until you get the right people in front of the right judge and the right jury... your just a pissed off long like many here.

If you think you can make a change without defending a legal position then more power to you. GOOD LUCK. My guess is that M&M have much more power and resource and they cant seem to get the job done. I am watching and waiting for them but I'm very entertained by you.

As far as getting involved... I am as involved as I want to be. You found a few links to some potential corruption and I am happy for you but that is no reason to send a "get involved" directive my way. Step down from your high horse and remember that you do not know who is on the other keyboard


I look at the facts Mingy and here they are:

The company has lost 90+% from his June high

They are back logged 3 filings

They have not uttered a word to their investors Since October

The AS remains 3BIL as of this year

The trade volume is extremely high for a 4 month old gray

Pike has a very serious interest in this company and quite possibly purchased the entire float

The SEC Wells has NOT been resolved as of yet meaning we have little knowlege of the severity of the charges.

The spongebob sponges ARE in wallmart

The company is being sued by its own investors

They have issues with thier advertisers

They have settled most of their legal issues rather quickly

While their are many more facts... these are the ones I look at to try and figure out what the hell is going on. Have you ever considered the possiblilty of the company being involved in their own dirt? I know I have. While I do believe the managment team are good people and really want the companies shareholders to benefit from their sucess, I would be an idiot not to consider many other possibilities.

Your on a road and I wish you luck Mingy. As for me... I prefer to watch and wait for Moskowitz, Metter and the SEC to make the moves.

[patchman]

Mingy, exposure requires evidence and you have provided none. Kaja Whitehouse is a financial reporter, she will talk to hedge funds from both a long side and short side interest. It is her job. The fact that she interviewed Chanos is hardly a smoking gun.

As for her family, is it a conspiracy that they moved to Florida. Could it be that they simply did not like the cold? You are likewise accusatory about her father and the firm he works but have no ties between that firm and Spongetech. in fact, you have never even heard of that firm until you researched her family. so again, what do they have to do with Spongetech?

Some want to think this is some kind of smoking gun and a major find. I look at this "evidence" you codgerred up and say it is nothing more than a tin foil hat conspiracy theory.

Show me the proof. Show me the link to a small firm in Florida to Spongetech. you can't even prove a massive short interest exists let alone this conspiracy you dreamed up.

News Flash: Kids who grow up with their parents in the industry have a high tendency to get involved in the same industry. Kaja's Dad has been involved in the industry which allows that experience to carry into financial reporting. I guess you missed her coverage on those nasty short sellers in years past. But those stories did not fit your agenda.

Kool-Aid taste best with ice.