I agree with the gist of your post regarding the need to be constantly concerned about their whereabouts.
But I have the feeling that they (SPNG,SM,MM) may seek an extension for their accountings using some kind of funky excuse. But to be fair....'tho I don't see why we should be.....what the court is asking for is probably something these characters never thought that they would have to come up with. And it's complicated. SM and MM are being told to provide the same detail that SPNG is being asked for here:
(a). all assets, liabilities and property currently held, directly or indirectly, by or for the benefit of Spongetech, including, without limitation, bank accounts, brokerage accounts, investments, business interests, loans, lines of credit, and real and personal property wherever situated, describing each asset and liability, its current location and amount;
(b). all money, property, assets and income received by Spongetech, or for its direct or indirect benefit, at any time from January 1, 2007, through the date of such accounting, describing the source, amount, disposition and current location of each of the items listed;
(c). the names and last known addresses of all bailees, debtors, and other persons and entities that currently are holding the assets, funds or property of Spongetech;
(d). all assets, funds, securities, and real or personal property received by Spongetech, or any other person controlled by Spongetech, from persons who provided money to Spongetech in connection with the offer, purchase, or sale of Spongetech securities, from January 1, 2007, to the date of the accounting, and the disposition of such assets, funds, securities, real or personal property.
Hell, if they could do that they could have published the 10K.
I don't know how this will play out, but it seems to me that the court may be requiring them to do something that shouldn't be impossible, but for these guys may well be.
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