Replies to post #327030 on Spongetech Delivery Systems Inc (fka SPNGQ)

[pantherj]

It would seem these petitioners have done more DD (faulty as their conclusion is) on Mr. Hays thn they did when they threw their money down the toilet with the Mutts.

[Virtual Drew]

So, this is the list of people that didn't heed the SEC's trading suspension nearly a year ago (Oct '09).

SpongeTech was on of only 30-some companies to get it's securities suspended from trading!

Why should the judge care if they were "too captured" and continued to fall for M&M's scam?

Oh, don't forget...these same people ignored the SEC Wells Notice in December 2009 as well.

This long list of people FAILED to grasp the harsh realities, SpongeTech was NEVER a viable company! It was a share "print house", with a lying CEO & COO/CFO!

Yes! The company and executives were cooperating. That's why they were slapped with an Obstruction of Justice CRIMINAL charge!

Yes! The company was buying back shares. That's why the O/S is 3 BILLION!


Should have listened to the SEC nearly ONE YEAR AGO!!!

[zomniac]

After reading the comments in the petition...........
The courts should be given the power to ban people from trading.
It's for their own good.

[alien42]

226 suckers signed that worthless petition.

it blows my mind that so many people could possibly not realize that they were scammed by the fraudsters Metter and Moskowitz. as the SEC has stated...

"Spongetech at its core has been a fraudulent enterprise since at least 2007, when it began fabricating the vast majority of its significant revenue and customers"

when one invests in a scam, they are flushing their money down the toilet, it is just that simple. even when one invests in a legitimate penny stock they are risking 100% of their investment.

[overachiever]

The fools just do not get it. Shareholders have last priority in a bankruptcy. The claims of the creditors and how to satisfy them are given first priority and are the primary consideration of any bankruptcy proceeding.

In the case of Spongetech, current shareholders will be left with nothing even if by some miracle, the company is reorganized and allowed to continue operations.