Replies to post #321486 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[xDREWx]

No but in retrospect I think the reverse split was a signal. There wasn't one bad bit of news until that happened. It triggered issues with the AS and then just before the split was suppose to happen we had the suspension... Then the lawsuits... Then more lawsuits... Then unable to pay... Then SEC... They told us it was over.

On a side note I'd still like to see who AYME was. People had all kinds of stupid figures for them... But their volume was about 400,000,000 if I remember correctly all on the bid side. They did sit on the ask once or twice for a few minutes... but that's it.

Did someone try and buy back the restricted shares when they knew they were caught and when they couldn't buy them all back they went for the last ditch effort - the split?

I know the SEC has addressed the bulk of it... But I want to know about the side stories... And when the company said "our buybacks have lifted the share price"... did they really buy back just to lay the scam down to level 2? Or was even that MM someone else gobbling up about 100,000,000 shares...

And Pike...

Lots of side stories.

[Virtual Drew]

In the past, fanatical longs used to suggest that PRs cost a lot of money to release. Same thing about filing 8Ks and updates to the Delaware Secretary of State office.

I never believed those claims. Another ruse to keep those invested, invested.

Pike isn't in this anymore, just like Furth isn't in it anymore. They've dumped or are still in the process of dumping. Just like many other third party investors, who were NOT lucky enough to get a forged Pensley/Halperin/Bomart opinion letter.

They, too, are stuck with worthless paper, but at least they got those shares FOR FREE to continue to promote SpongeTech and why it's such a great investment, still, to this date.

THE KICKER!!!

As soon as they meet the required holding period under Rule 144 of the Securities Act, they sell them off and disappear. dpilon most likely (IMHO) is associated with such entities, still stuck holding restricted shares!