Replies to post #339611 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[SRV-90]

Completely absurd to even think SPNG can come back to life. All the facts in this case point to the insiders...

In fact that's why the insiders PLEAD GUILTY to SECURITIES FRAUD!

What part of that don't people understand?!?! How can something like that be construed as good?!?!

[alien42]

Oilspec...that's pure speculation on your part.

what you call speculation, most would call common sense.

reality is that SPNG stuckholders will never see more than a penny and a write-off for their shares.

[oilspec]

Starfire - The following is NOT speculation:

1. Spongetech has been completely out of business for 2 years.
2. They have no employees and no office
3. Dicon was their manufacturing arm. They are also bankrupt, so Spongetech has no manufacturing capability at all.
4. Almost all the SpongeTech assets were already sold off for $500k.
5. All the principal players have been indicted, with most already having plead guilty of various offenses. There is no one in place to re-start Spongetech.
6. No one in their right mind would ever be associated with this blatant scam. Anyone interested would have no access to capital because no one would remotely consider investing in a "new" Spongetech.

[pantherj]

Oilspec is right on the money. there is no reason to think that SPNG could be resurrected. There was nothing there to resurrect.

The worse that could happen is that he would have to file an amended return. i give that about a one in 100 Billion chance.

SPNG was a fraud inside & out, top to bottom, beginning to end. It lived as a fraud and died as a fraud.