Spongetech Delivery Systems Inc (fka SPNGQ)

[GeeMoneyDollar]

Soaps,

Trying to figure out how the 50mm buyback, and 79mm RME reduction PRed (10Q says 133,577,000, wonder why they didn't PR this) fits into the below cut and paste from the Q.

Also, recent PR said RME has about 600mm through that date. May help in calcing the float. Probably not.

Not sure which affiliate repurchased the 76mm shares and retired them, and why they would do this.

Hopefully we'll get a PR on this tomorrow.

"As of January 13, 2009, the Company had 1,170,332,648 shares of common stock issued and outstanding. The Company intends to return to the treasury and cancel an aggregate of 3,265,050 shares that were repurchased under the publicly announced repurchase plan through December 31, 2008 and an additional 76,623,293 shares that were purchased by certain of our affiliates through December 31, 2008 who have agreed to return these shares to treasury. In addition, the Company intends to return to the treasury and cancel an additional 133,577,066 shares that were returned to the Company by a principal shareholder. Thus, the Company will have an aggregate of 960,132,289 shares of common stock outstanding after giving effect to the cancellation of the shares to be returned to the treasury described above. For a complete description of the shares to be returned to treasury and cancelled(see Part II. Item 2. Unregistered Sales of Equity Securities and Use of Proceeds)"