Replies to post #292942 on Spongetech Delivery Systems Inc (fka SPNGQ)

[desie]

Posted by: councilmanward1 Date: Thursday, July 16, 2009 12:01:45 AM
In reply to: None Post # of 292942

SPNG IS NOT A FRAUD. So you can take that one down from your agenda.

It is NOT a scam.

and they just forged a link to HHBROWN.

IN the 8k.

lol

[spongeboy]

Read it again. You can get Paper stock certificates from your transfer agent:

The Securities and Exchange Commission has approved a rule change by The Depository Trust Company (DTC) to eliminate issuing physical certificates for withdrawals-by-transfer (WTs) beginning January 1, 2009. The move will cover all issues that participate in DTC's Direct Registration System (DRS) which currently includes more than 5,500 issues.

DTC announced the next step in reaching dematerialization – eliminating WTs of physical certificates for all issues participating in DTC's Direct Registration System (DRS) – in July when it filed the proposed change with the SEC. DTC will now process WTs in DRS statement form. (If permitted by an issuer, investors may take their DRS statement to their transfer agent and exchange it for a physical certificate.)DTC's DRS is a book-entry system that enables investors to register their shares electronically with the issuing company or its transfer agents. Instead of a paper certificate, investors receive a statement of their holdings. In 2008, all the major and regional exchanges in the United States mandated that DRS become a listing requirement for all issues.

Eliminating the issues of physical certificates in WTs is part of DTC's overall dematerialization efforts aimed at eliminating all paper certificates in the securities industry. Both the industry and the U.S. government continue to encourage dematerialization, knowing that paper certificates are inefficient and increase the risk of lost or stolen certificates.