Replies to post #293924 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[ThomCa-ching]

Well SPNG is trading 30% lower every month now and trading in the dark. Admist all the problems, a year later, they magically produce their 10K?

They're losing their business, people aren't interest or simply don't want to do business. No one cares.

[big lug]

The 10K question is simply a matter of if and when.

If you think it's a matter of if it will come out then you probably don't sleep well at night.

If you think it's not a matter of if, but simply a matter of when, then you're probably sleeping OK.

I sleep pretty well at night. I believe in SpongeTech and their products. If I didn't I would have sold a long time ago.

Be at peace.

Big Lug

[bigbadralph]

Mingy, I would think the opposite is true. Why put out that PR if they are going to release the 10k very shortly? In other words, more action less talk. I am glad they said something though.

[dalessan]

Mingy I think the 10K is on the way

I believe they sent this update out to:

1. Give the shareholders something...they've been silent for too long.

2. Try to prop up the decaying PPS, at least slow it's decent.

3. Generate a little hope and interest.

30 days? we'll see

Good luck and hang in there!

Keep up the good work.

dalessan

[alien42]

if the 10k was right around the corner, and the SEC only slaps M&M on the hand i might actually contemplate buying back in at some point.

not that i expect that to happen since the Wells Notice specifically said...

"The Wells notices advised that the Commission Staff intends to recommend that the Commission bring civil injunctive actions against them alleging violations of the federal securities laws"

"Civil injunctive actions remain the only process by which the Commission may obtain a civil money penalty against a person who is not a regulated entity or associated with a regulated entity. In addition, the Commission may obtain the monetary sanctions permitted under the Insider Trading Sanctions Act of 1984 ("ITSA")--fines of up to three times the profits realized or losses avoided from the illegal trading--only civil injunctive action. Because the Commision considers monetary penalties to be one of the most effective deterrents, it typically prosecutes non-regulated persons through civil injunctive actions."

http://books.google.com/books?id=XdBN7IRt0NcC&pg=PA325&lpg=PA325&dq=%22civil+injunctive+actions%22&source=bl&ots=6yeVTzRDJk&sig=YU0BFUmN5cswXIsuswJUFpS7DNg&hl=en&ei=3T5ZS5X2Ksuztgf3kJSnAg&sa=X&oi=book_result&ct=result&resnum=3&ved=0CBEQ6AEwAg#v=onepage&q=%22civil%20injunctive%20actions%22&f=false


i do believe that as long as SPNG remains a non-reporting company, they are considered "not a regulated entity"