Replies to post #315413 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[underdog150]

The company has no money to pay bills, and whatever they
do own, will be liquidated to pay lawsuits.
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Pike is buying....there is still a company here and distribution of products happening,extremely bad news today for execs and company, it only makes sense that pike would cheaply increase position and control of company, how much real value is there is questionable but Pike wasnt buying his position without a plan, my guess is he had info on real #s and see's future for co. under himself, could be a stupid move or a brilliant one, again there is a company and product selling...JMHO

[Letgo]

Large - large blocks of someone buying now in the one cent range! Most likely it is Pike !

[bigbadralph]

We don't need any bs right now, there has been enough of that. Pike could be bailing for all anyone knows. This is what I deciphered so far.

* M&M got arrested
* The 5 customers that Kaja Whitehouse mentioned in the article apparently do not exist (as she stated)
* Those 5 customers represented up to 99% of sales through May 2010. (This is a little bit broad because it could be 99% 2 years ago, and nothing now)
* While I am not shocked, I am suprised that these guys really thought they could get away with this.

Its probably a safe assumption there will be no 10k released today.