Replies to post #330406 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Virtual Drew]

Answer 1: Yes. They hit the tape. Remember the months of HUGE and MASSIVE Form T's posting, after the closing bell? Hmmm

Answer 2: No. It was strictly Steven Moskowtiz, Michael Metter, and their band of promoters (Soapy/Alfie) diluting the living daylights out of the stock, via ex-clearing, that showed up on the tape as many, many Form Ts.

I remember the days, great news came out, but we went down.

I am almost 100% confident, the downward pressure on those great news days came from pure dilution. Than M&M had the gull to press release or speak on the radio, the company was repurchasing shares in some contrived "Share Buy Back" program. In reality, they were releasing billions more shares via Form Ts!

[overachiever]

ex-clearing trades hit the tape. Try making one and watch it happen. Most of the firms which still accept penny stock certs use ex-clearing to process paper to avoid the large deposits required for exceeding maximum trade weekly share volume totals (as little as 100,000 shares per week through a BD can trigger huge deposit requirements)

The deposit requirements have slowly weeded out the firms willing to accept physical cert deposits into client accounts. In The USA, there are few firms left which will accept a penny stock cert.