Replies to post #337893 on Spongetech Delivery Systems Inc (fka SPNGQ)

[loanranger]

It's true. I confuse easily. I'm still waiting for you to clear up your contention that the SEC approves the number of shares that a Board of Directors authorizes by pointing to the specific law that provides for that.
I'm sure that it must be in the Security Lawyer's Deskbook, but I can't find it.

http://taft.law.uc.edu/CCL/

"SEC regulation on approving authorized shares proposed by BOD abundantly clear."
It appears to be so clear as to be downright invisible.

Your first post to me began "Don't know you nor your level of expertise in securities law". Fact is, I don't know very much about it. If you could just support your statement above by providing the specific regulation, at least I would then know that.

[puppydotcom]

in trying to keep this topic simple

the shares were not legally authorized to sell .. they were restricted .. that means they must meet the restricted rule before they can be sold LEGALLY the shares were no longer restricted when the attorney released the shares by the phony opinion letter

I'm not sure why you don't get it?