Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Carpedeim357]

RD that is correct. As Steve told me last year the first shares issued to rme are not. When I asked him why they where not under the buyback like new ones where he said and I quote. We will make plenty off long term when we grow SPNG off the first shares those we will keep. The rest we have to issue becuase we did not get bank lines as planned last June. It was either provide funds to SPNG with shares as collateral per what RME bank required or shut down. That is why all the newer re shares all will be retired. People just do not get it was a loan but because of only collateral they could offer shares it has to be recorded like they did has shares issued under equity for funds received from rme. Now they are all going to be retired and rem get paid back as planned. Just sooner then planned. Good thing for us because once they are as soapy says in IBOX we are really going to like it this announcement.