I see tons of buys coming in...is someone else seeing this?

The A/S is not 300 mil now, that is post reverse split...read the PR WELL.

Email response from IR

Sent: Thursday, September 10, 2009 12:49 AM
To: (hfried@lhai.com) Harriet Fried
Subject: SPNG pre-split Authorized common shares



Hello,

I am a current share holder and was a little confused by the latest Reverse-Split PR; I'm not sure if it was an error so please clarify.

The PR states: "The post-split authorized capital will be 900 million shares of common stock..." (to my recollection, it was suppose to be reduced to 900 mil even before a reverse was announced, so surely after 100 for 1 reverse split it should be significantly less).

Was this suppose to read "The pre-split authorized...."

I ask because if indeed 900 mil is the Authorized post-split amount, does the reverse not affect the existing Authorized common shares?

Thanks in advance,


THE RESPONSE (which I don’t understand how A/S will not go down)


RE: SPNG pre-split Authorized common shares
Thursday, September 10, 2009 9:27 AM
From: "Harriet Fried" <hfried@lhai.com>

Thanks for your inquiry about SpongeTech. The press release was accurate regarding the post-split authorized capital of 900 million common shares. The split itself does not affect the number of authorized shares, only the number of outstanding shares.



We have been getting a number of questions on this matter and hope to be able to clarify it further soon. Thank you for your patience and your interest in SpongeTech.



Sincerely,



Harriet Fried

LHA

The Amendment also reduces the aggregate number of authorized shares of the Company’s capital stock to 965,000,000 shares, consisting of 900,000,000 shares of Common Stock, 25,000,000 shares of Class B Stock, and 40,000,000 shares of Preferred Stock (the “Authorized Share Reduction”).

I think it is 900 mil authorized pre-split based on the 8k, maybe the PR is incorrect and should have stated pre-split instead of post-split.

Any thoughts??


http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6789901-868-6615&type=sect&dcn=0001144204-09-047372

FORM 8-K

Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year.

On August 28, 2009, Spongetech Delivery Systems, Inc. (the “Company”) filed a Certificate of Correction to the Certificate of Amendment to its Certificate of Incorporation (the “Amendment”) with the Secretary of State of the State of Delaware that effects a one-for-one hundred reverse split (the “Reverse Split”) of all of the issued and outstanding shares of each of the Company’s common stock, par value $0.001 (the “Common Stock”), Class B stock, par value $0.001 (the “Class B Stock”) and preferred stock, par value $0.001 (the “Preferred Stock”). Any fractional shares will be rounded up to the next highest whole share. The Amendment also reduces the aggregate number of authorized shares of the Company’s capital stock to 965,000,000 shares, consisting of 900,000,000 shares of Common Stock, 25,000,000 shares of Class B Stock, and 40,000,000 shares of Preferred Stock (the “Authorized Share Reduction”).

It is anticipated that the Reverse Split and Authorized Share Reduction will be effective on the close of business on September 22, 2009, subject to the receipt of necessary regulatory approvals.

The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, which is filed as Exhibit 3.1 hereto and incorporated by reference herein.

On September 8, 2009, the Company issued a press release announcing the Reverse Split and Authorized Share Reduction. A copy of the press release, which the Company is furnishing to the Securities and Exchange Commission, is attached as Exhibit 99.1 and incorporated by reference herein.

wow, I stand corrected...lots of trade at .0002 so I'm assuming all sells. I might have to cut my losses on this one and move on.

I've been seeing majority buys today. Anyone else noticing the same?

Anybody uses charles schwab???

Please let me know if you got your shares right away. I think someone here said they did.

I'm considering switching to them just in case i play splits again. I use TOS and finally got mine this afternoon and got out; but, I watched my profits go down by $9k.

Yeah, I saw that after I posted mine...I hadn't reached that far yet. Thanks though.

4Kismet,

Where you trading ATNP with thinkorswim? If so, please tell me what to do so I can get out. I called them and dealt with the trading desk (Chris Bolson) and we talked on about 4 different occasions and he said the shares were not available each time.

I want out so bad as I'm sure a lot of people will. If you were able to get yours with ThinkOrSwim, I should be able to get mine too.

Please HELP. Who did u speak to?

Yogiba16

who do u trade with?

Explained nicely...


Why does your stock split calendar not list the record date? (August 17, 2007)

You will not find a record date on our stock split calendar because the record date is meaningless. Here's a definition of "record date": The record date is a date, set by the issuing company, on which an individual must own shares to be eligible to receive a declared dividend or capital gains distribution. With regard to stock splits, the record date is used for accounting purposes only and has no significance to individual investors. Your shares will split as long as you bought them before the ex-date (also known as ex-dividend date).

Again, the record date is meaningless. Don't concern yourself with the terminology. It's simply an "accounting thing" with the company. The split will take care of itself. There is nothing to ever worry about. In its very simplest form, assume a stock is trading around $100 and is to split 2-1. If you pay $100 for the stock AND you still hold it when it actually splits, (ie, when it starts trading at about $50 --assuming it hasn't fallen in price dramatically), then you can be assured that you will receive the "extra" shares. However, if you pay $50 for the stock, then you know that the shares have already split.

So, why even state a "shareholder of record" date?

The "shareholder of record" date goes back to the time when most shares were held individually as paper certificates. On the record date, the company would actually send a certificate to the shareholder for the additional number of shares created by the split. Today, most of us hold shares in a brokerage account. The broker, then, is the owner of record. The additional split shares are distributed to our broker, who will transfer them to our account. The paperwork involved for shares bought or sold between the date of record and the payable date is usually handled between the company or its transfer agent and the broker.

Explained nicely...


Why does your stock split calendar not list the record date? (August 17, 2007)

You will not find a record date on our stock split calendar because the record date is meaningless. Here's a definition of "record date": The record date is a date, set by the issuing company, on which an individual must own shares to be eligible to receive a declared dividend or capital gains distribution. With regard to stock splits, the record date is used for accounting purposes only and has no significance to individual investors. Your shares will split as long as you bought them before the ex-date (also known as ex-dividend date).

Again, the record date is meaningless. Don't concern yourself with the terminology. It's simply an "accounting thing" with the company. The split will take care of itself. There is nothing to ever worry about. In its very simplest form, assume a stock is trading around $100 and is to split 2-1. If you pay $100 for the stock AND you still hold it when it actually splits, (ie, when it starts trading at about $50 --assuming it hasn't fallen in price dramatically), then you can be assured that you will receive the "extra" shares. However, if you pay $50 for the stock, then you know that the shares have already split.

So, why even state a "shareholder of record" date?

The "shareholder of record" date goes back to the time when most shares were held individually as paper certificates. On the record date, the company would actually send a certificate to the shareholder for the additional number of shares created by the split. Today, most of us hold shares in a brokerage account. The broker, then, is the owner of record. The additional split shares are distributed to our broker, who will transfer them to our account. The paperwork involved for shares bought or sold between the date of record and the payable date is usually handled between the company or its transfer agent and the broker.

and by the way when a stock splits, it uses the trading price the day before the split....it doesn't go back and use a price from another trading day.

THE STOCK CLOSED AT .04

You can still buy and get split today! The last day is always the date before when it's a stock split.

Record date ONLY matters when it's simply a cash or stock dividend; when the stock price isn't splitting.

Reason is becuz AMNE ExDate was 8/5/2009 so u have to own shares at close of business 8/4/2009.

Record date of July 31st 2009 didn't mean CRAP.

JT, thanks....you are one of the few that actually realizes record dates for stock splits don't mean crap. A lot of people are confused.

I post this to yahoo board earlier, sorry to say but it was from slightly being irritated. See below...

Why is a stock split so confusing to you all. RECORD DATE IS ONLY IMPORTANT WHEN A COMPANY IS GIVING OUT DIVIDENDS (whether in stock or cash). IN THIS CASE THE STOCK IS SPLITTING SO RECORD DATE DON'T MEAN CRAP. If ATNO was just giving out 10 shares for every 1 share you own and the stock price is not splitting...that is what i'm calling a dividend (just to clarify).

YOU CAN BUY A STOCK THE DAY BEFORE IT SPLITS (plain and simple, look for the ex-date). I'm posting this explanation again so maybe the CONFUSED CAN UNDERSTAND.

Sorry but people keep asking the SAME THING OVER AND OVER.

READ PLEASE: I posted this earlier
You can buy the last day before a split. Think about it. So if you own shares and the split in price happens, do u think your share price would just remain the same and nothing happens to it.

Example: If a $10 stock XYZ is set to split 5 for 1 on 9/7; the last day to buy and get the split is 9/6. In your explanation, so you are saying people that buy on 9/6 won't get the split.

Assuming a person has 100 shares, so what happens to their shares & price on 9/7 if they don't get the split. So are you telling me that post split, the stock which is now trading at $2 would have a different price of $5 for the person who bought on 9/6 or will they just still have 100 shares but now at $2 a share......NO!

If you buy on 9/6; your acct would show on 9/7 500 shares at $2 per share (still worth $1,000).

Oh, and the stock is not splitting on 9/1 or 9/2....FINRA will most likely give a further out date.

See the link below for PKPL, ATNO will have something similar

The EX-Date of 9/3/2009 is when the split happens, Payment date of 9/2/2009 is when you have to buy to get the split (notice it's the day before the split). Record date of 8/31/2009 means nothing...for THE STOCK SPLIT

and again see PKPL
http://www.otcbb.com/asp/dividend.asp?sy...

3. It is possible that they won't do the split on time and didn't know that FINRA wants at least 3 weeks.

__actually its nearer 6 weeks

THE ABOVE IS WRONG

Look at PKPL, they filed with FINRA on August 18th and see...it doesn't take that long.

http://www.otcbb.com/asp/dividend.asp?sym_id=PKPL&dDate=9/3/2009&sDateType=ex_date

All I can do is LAUGH, WOW that was something (especially with all the buys today).

Oh, well I will be patient with this one...they've got too much going. It will be noticed one day.

GLTA

I hoping it opens higher right on the day of the split...maybe double, we'll see.

Oh, check out GDHI and see if you like; I'm heavily weighted on it. It's day is coming.

I didn't own AMNE, I just watched it so see what would happen after the split cuz I was wondering why in the world a penny would fs.

Anyhow, playing PKPL and ATNO, ATNO has been GREAT for me. Started out with 1.1mil shares; sold some and sitting on 400K share now and holding til post split. I've made tons on it already.

I trade with Thinkorswim, so we'll see how long it takes to get shares. Never went thru a fs while trading with them.

Sorry you are wrong on this. If you look at AMNE for instance, when they did a 5 for 1 split....the pps was .004 the day before the split.

The next day it went thru the split and was suppose to open at .0008 but it didn't; it opened at .0016. The current price is .0011 which is the equivalent of .0055 (so still good if u bought at .004 day before split).

GET IT NOW? If not, that is 100% gain if you held into the split. Another way to look at it is to take the post split price and multiply by 5 (5 x .0016 = .008; this tells u what it is w/o a split). Now that is good to me, day b4 split at .004 and .008 after split.

Some HOLD thru split bcuz it often times trades above the post split price.


Click on graph it'll open a price history window.

http://www.nasdaq.com/aspx/chartingbasics.aspx?symbol=AMNE&symbol=MIKP&symbol=GDHI&symbol=ATNO&symbol=QASP&symbol=IDOI&symbol=HYGN&symbol=CNOA&symbol=ECET&symbol=NBRI&symbol=BZCN&symbol=ARTI&symbol=HTDS&symbol=MSTF&symbol=ASFX&symbol=LFBG&symbol=MGLG&selected=AMNE&intraday=off&timeframe=1y&charttype=mountain&splits=on&comparison=off&movingaverage=None&lowerstudy=volume

It's on their website here...

http://www.gdfbhk.com/investors.html

Market Data
SIC: 5141
Symbol: GDHI
Exchange Pinksheets
Authorized: 3,000,000,000 as of Feb 20, 2009
Outstanding: 1,674,834,775 as of Jun 5, 2009

Total Restricted: 1,297,409,028 as of Jun 5, 2009

Float: 377,425,747

Market Cap. $3,900,000 as of Jun 5, 2009

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