Replies to post #338707 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[pantherj]

That simply is untrue.

Any number of issued shares(not by the company) but by a third party, over and above the OS are NSS, be they counterfeit paper certs and/or book entries.

[harvard homeboy]

Hey starfire,

You do know, I guess, that what happened (or did not, as the case may be) with yet some other penny stock fraud of the not-too-distant past adds nothing by way of incremental cash flows available to be distributed to Spongetech shareholders, don't you?

And especially so with a company like Spongetech which was never a company to begin with, but just a conduit to funnel money from unsuspecting novice investors looking for a get-rich-tomorrow lottery ticket, and whose view of investing is a combination of greed and belief in the greater fool theory of investing at work.

But then, that's the problem with people who predicate their buy-side analysis on the mythology of naked short selling, whether it's people on this message board, people on the message board of some other penny stock scam, or people on the overvalued-stock-dot-com message board, the Mecca of naked short selling conspiracy theorists.

By the way, there actually was a point in time when Patrick Byrne could have given Jeff Bezos and Amazon a run for their money, maybe 8 years ago or so. However, at that time, Byrne got off track with proving that he was being victimized by the Sith Lord and he gave away the online sales marketplace in the process.

It's hard to be a visionary business leader when you use the mythology of naked short selling as a crutch to explain away your own incompetence as a manager, or for that matter a successful investor.

Spongetech was an outright fraud, and an especially easy outright fraud to spot. You would have known this if you'd ever bothered to take a peek at the company's financial statements, since they reeked of fraud from the get-go, or if you'd ever bothered to talk to any of us who did.

Just sayin'.