Replies to post #323989 on Spongetech Delivery Systems Inc (fka SPNGQ)

[Risicare]

Pike is the new rallying call of the mentally deficient, somehow somebody got it going that pike is going to save them once again....... It seems they did not learn the first time around. This time it is even more utterly absurd. Anyone who thinks Pike is going to save them should seriously consider self sterilization for the good of mankind.

[Xenophon]

The conflict of interest is because Greenberg, Taurig represent both Spongetech and Metter - and the interests of Spongetech shareholders (Spongetech) is not the same as that of Metter, hence a conflict of interest between two parties represented by the same lawyer(s). Ergo, Greenberg, Taurig must withdraw from representing Spongetech because they represent Metter.

Metter may oppose an appointed receiver, but it is in the best interest of Spongetech.

I'm sure Metter wants to appoint some of his buddies to manage Spongetech, whereas the SEC wants an independent receiver.

This has ABSOLUTELY nothing to do with Pike.

[puppydotcom]

first of all I don't see how Pike could ever be the receiver. The receiver is court appointed. Since most are lawyers or CPA depending on the appointment and clearly Pike would be a serious
conflict of interest ..

I have no idea what eliaman is going on about or why he even said that?

don't know why the attorney withdrew .. maybe the conflict of interest - is his interest in getting paid by SPNG and its not happening because Mosky will be removed and he knows the new receiver will not pay. The attorneys hired by Moskey will be the very first to go if funded by spng.

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In law, receivership is the situation in which an institution or enterprise is being held by a receiver, a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights."[1] Various types of receiver appointments exist:[1]

1. a receiver appointed by a (government) regulator pursuant to a statute;
2. a privately-appointed receiver; and
3. a court-appointed receiver.[1]

The receiver's powers "flow from the document(s) underlying his appointment – a statute, financing agreement, or court order.

[overachiever]

Welcome to pennytardland. Where everything must be misconstrued to the psychological benefit of a bad decision. A place where egos are left intact and unbruised no matter how much money has been thrown down a bottomless pit.

Otherwise people would have to admit to themselves that they didn't know squat about the market, SPNG, or anything else for that matter, and were all sitting ducks the moment their "analysis" of this scam concluded it was a good buy.