We're going to have to disagree on that one. The LAST thing that the SEC ever does is protect existing or potential shareholders. They protect their next employer, Mr. or Ms. Hedge Fund. Funny how we don't see those star SEC employees like Tao around to "finish" this case. Where did he go? Working for an Investment Firm most likely is my guess.
How many days sponge trades or doesn't trade is irrelevant in the end. Funny how SEC doesn't seem to care about the ILLEGAL counterfeit shares dumped into the market. And as far as I can tell, all Sports Venues were paid, only future contracts were canceled and replaced by higher paying customers for that space, so where is the loss?
Many companies have fraudster CEO's at the helm, do you see the SEC destroying GS? How about AIG? BoFa? Oh, well lets go after the little penny stock company and show everyone we aren't asleep at the wheel after all. LOL!
The company owned a manufacture company, they put out a great car wash sponge, children's sponge like Dora, Pink Panther, SpongeBob Square Pants... we used these products, we put them to the test, and like it or not, we had employees that were busier than crap filling orders.
Why is the premise that the company didn't have to be destroyed so difficult to comprehend? Arrest management, prove your case, and leave the business intact.
Replacing management that would run the company right would not have been so difficult. But nooooooooo... it's so much easier to destroy in this country.
SPNG
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