Replies to post #325173 on Spongetech Delivery Systems Inc (fka SPNGQ)

[alien42]

those assets are the result of fraud and money laundering. M&M are going to prison and shareholders will be left empty handed.

[puttzy3]

shows what you know, chapter 11 can't cover up fraud!

[toxicdebtspiral]

"now that they have filed and assets exceed liabilities they are in good shape."

Just curious, do you think the bankruptcy court will allow this if assets exceed liabilities for an operating entity? For an entity that had significant capital assets and a liquidity problem bankruptcy is an option, but that is not the case here. It looks like they checked the wrong boxes - whether intentional or not only they know.

[puppydotcom]

the bankruptcy court takes priority over the SEC, the DOJ and all civil suits

no, not hardly

the SEC is a civil suit against the insiders and spng

the criminal charges are against the insiders ..

[castboy]

I am sorry this will go to chapter 7 mark this post.I have been involved in several pos stocks that file BK.They almost always start off in ch11 and than go to ch7 and share holders get nothing in ch 7 and 99% of the time they get nothing in ch 11.