Replies to post #343211 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[starfire]

That is absolutely false.

[oilspec]

Renee: Don't you understand that the 2.5B in unregistered shares WERE ALREADY SOLD INTO THE MARKET??

That's what constituted the FRAUD! M&M ILLEGALLY SOLD those shares! Along with their friends at bogus and semi-legitimate "investment" companies, all these shares already made their way to the market, purchased by people like you on this stock board.

This is why SPNGQ is still locked down. There are a whopping 3 BILLION outstanding shares, most of which were sold illegally. The SEC is trying to protect idiots from buying a worthless chapter 7 company with billions of unregistered shares. It's amazing that there are still idiots who WANT this to trade!

ANY SETTLEMENT/RESTITUTION (which is highly unlikely) WOULD HAVE TO BE DIVIDED ACROSS 3 BILLION SHARES! Do the math and you will see that your paltry number of shares are virtually worthless!