Replies to post #325893 on Spongetech Delivery Systems Inc (fka SPNGQ)

[badshah]

hoggey1...good work...what you say about he SEC and Tao's motives are right on the money...this is deja vu all over again for me...USXP chairman sold over 40 billion shares to "resellers" who sold them into the market to hapless investors who believed the SEC was watching over any wrongdoing, especially since the SEC had sued the company BEFORE ALL THESE SHARES WERE SOLD INTO THE MARKET...the SEC got the courts to levy over 20 million $ in fines to USXP officers and the company, another 30 million to the resellers...not a penny was given back to the shareholders who took the brunt of it all...and this does not even include all those counterfeit shares sold into the market for which more ordinary investors took a hit...the SEC is corrupt and Tao is no doubt in bed with these guys...somehow whats left of the judicial system in NY should be convinced to force the SEC to open the books on these crooks...the judge should be guided towards asking the SEC to uncover where all the money went, to recover every penny and reimburse the funds to its rightful owners, those with legitimate shares in the company (after the creditors have been paid)...

[loanranger]

"I believe you're referring to the application for the excludable delay asking for more time."

Wrong.
My post says "The SM response to the original complaint was filed EARLY (on 6/16)".
What I was referring to was the SM response to the original complaint that was filed EARLY (on 6/16):
http://viewer.zoho.com/docs/scKcUb

People who are following the filings realize that the applications for excludable delay, which you mistakenly suggest that I am referring to in my post, were filed in the DOJ's criminal case and have ABSOLUTELY NOTHING to do with SM's response to the original complaint in the SEC's case.


The rest appears to me to be more off-base musings:
"That was the one where Tao and Moskowitz appeared on the same page and working toward a settlement or plea. Then it appears the SEC just up and withdrew from any further negotiations "
"Why did JT pull away from those settlement negotiations?"
"I have wondered about Tao because he did suspicously withdraw from what looked like a forthcoming settlement."
"it seems undoubtedly clear he's out to destroy the company in order to cancel out the shares."
"If so, then he shares the same goal as the short and distorts who'd like nothing more than for the shares to be zeroed out and destroyed."

I can't believe that all of those wonderings and vailed accusations result from the changes from the first SM delay application to the second SM application, which are:

NONE.

6/4/10
(x) they are engaged in plea negotiations, which they believe are likely to result in a disposition of this case without trial, and they require an exclusion of time in order to focus efforts on plea negotiations without the risk that they would not, despite their diligence, have reasonable time for effective preparation for trial.
http://viewer.zoho.com/docs/a9Eke

7/2/10
(x) they are engaged in plea negotiations, which they believe are likely to result in a disposition of this case without trial, and they require an exclusion of time in order to focus efforts on plea negotiations without the risk that they would not, despite their diligence, have reasonable time for effective preparation for trial.
http://viewer.zoho.com/docs/baXVai


You read this stuff, right?

[puppydotcom]

That was curious indeed. And I've often wondered if Tao knew that BR petition was coming, and so duped SM into thinking the SEC would settle with him and SPNG. I've wondered if the guy is playing it straght since his efforts to look after the shareholders seem dubious at best. DUBIOUS!

the SEC settlement talks with the crooks .. have nothing to do with any share holders - its to settle the civil charges filed against them personally for securities violations

just like the DOJ .. with criminal charges

unfortunately the crooks just the company charter as the vehicle to rape and pillage the public .. and the company will pay the price for its part in the crimes and civil actions