Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Carpedeim357]

See 8K last July. This is simple. Management owns another company RME. They started providing the money last year to fund SPNG. They bought shares on first issue I think 146 million. The first shares RME got are not under buyback per CFO. He told me those are the long shares they will keep. I could be wrong on amount of shares but not that they are keeping first ones issued to them.

Then when bank lines with our credit markets this year did not happen that caused more need for money from RME. The shares to cover those are the ones issued they did not plan to but had to.
All those shares management has been clear about buying back from RME at same price issued at until 2010.

It's about trust if you like the management and how they are building this company investing their millions buy and hold. If not sell or trade it.

One thing is a fact even after dilution EPS is growing qrt over qrt not declining even with added shares o/s. Not many can say that or even have an eps.