Thoughts, Comments and Research on Publicly Traded Companies and Internet Stock Message Boards

Sunday, January 30, 2011

[SPNG]: Promoter Stephen H. Pitell (spitell1951) claims to have traded on CONFIDENTIAL INSIDE INFORMATION

regarding scam company Spongtech Delivery Systems, Inc. (SPNG)

Here you have a post that he made about a year ago on the Yahoo stock message board for SPNG with his alias "spitell1951":

"OK. I do not have a link for this DTCC data. It was passed to me in a whisper. It's been seen by someone. If police ask me for my source, I will claim a journalists exemption and if necessary go to jail to protect my source. Is it believable? Yes and no. It is not NY Times
reliable. In other words, I only have a single source, and no second source of verification. So it is more than interesting speculaton, but not enough more to take to a bank."



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