eliaman, the only criminals here are SPNG management who lied to and decieved investors. you are right, the SEC should bring a lot of hurtin and pain to management in the form of legal justice for all investors.
there is a reason that SPNG is so behind on audited financials and that is because if they were to publish them, it would prove their guilt.
So, you are basing your argument on evidence which does not exist and may never exist. Moreover, the fact the evidence has not been produced is solely the fault of those who would benefit from such evidence. Not much logic in that theory of yours ....
Once the financials are released, that will be enough EVIDENCE!!