Spongetech Delivery Systems Inc (fka SPNGQ)

[z4lover]

Here is what will most likely be said or though from how I see things and why your questions aren't straight forward..

1. Has SPNG sold any shares of it's stock at any time since the filing of the last 10Q?

- This implicates 1 share being sold and does not take into account that the RME shares are bought back and sold on a rolling base, based of the AR credit line... Net the shares could be going down which they are however to say any is assuming that they did not use RME as their AR credit line which they do... To all of a sudden expect them to stop this healthy process is absurd. Also note the stock issued to RME will start to drastically be reduced as the PPS increase has caused it so fewer shares need to be issued as collateral...

Now further I Really don't know why organic growth is so hard for you to understand but RME funding is just this... Yet for some reason it bothers you... Well then find another stock...

2. Is the O/S count today at or below what was stated in the last 10Q?

-There has been no significant change to the OS (in a good or bad way..) Outstanding and issued shares might be down though depending on if the company has placed the shares in the treasury yet or not but... Overall no major changes. At least none that will be reflected at this current moment

3. Will the company allow the transfer agent to answer investors questions about the share structure?

It is the policy of the TA not to release share information as that is not their duty. It is a favor for a TA to do this for you not a right. Furthermore they do not have the correct numbers at any given time in terms of the numbers that do matter... Outstanding and issued shares. Please refer to the 10q to see our OS as there has not been a significant change to date...


Now what you will see from answers of this nature is... Ok this isn't a yes or no... So it has to be a scam... But rather if you would ask the questions in a way in which you could get a yes or a no answer you would get one... rather than in an accusatory hidden agenda tone..

For example... here are a few questions you can ask.... and get yes or no answers..

1. Has there been any significant change to the OS?

Answer no...

2. Is the O\S still Aprox 722 million

answer yes...

3. I am concerned as I have never been involved in a company that has done organic growth. Is the reason for the switch of TA's because the Policy of this new TA is to never share the OS?

Answer no... (think deeper why would there be a need to change TA's based on recent events of the company)...