Replies to post #314064 on Spongetech Delivery Systems Inc (fka SPNGQ)

[puppydotcom]

But the inter workings of RME is a HUGE mystery. So who really knows. It appears to me an IRS agent would have a "field-day" with RME. I wouldn't be surprised if the SEC referred RME, Mosky and Metter to the IRS clowns. "Construction Receipt" is a Bitch. That Class B stock could be interesting. But like I said previously,

Christy,

CEO's who continue to write bad checks and checks drawn on closed accounts .. I'm sure any business inter workings is a mystery to them too

[harvard homeboy]

IMO its a three year amortization of their comp package, on the date they had "construction reciept" (2008 ~ 2010) and fully taxable to them individually in 2008. Just not material.


christy,

I'm not talking about their compensation packages, which are paid in stock. I'm talking about the hundreds of millions of shares of stock SPNG sold to RME, Moskowitz and Metter at 40% discounts to fair market value.

All of those option grants should have flowed through the income statement and didn't. And the dollar amounts we're talking about are absolutely material. The compensation arrangements -- from memory 4 million shares to Moskowitz and Metter, 2 million shares to Lazauskas -- are, as you suggest, immaterial.

[themanfromboston]

you mean RME and its dozen or so stockholders?

[wink][wink]

It appears to me an IRS agent would have a "field-day" with RME.