Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Mingy]

Jandrsn21,

I arrive at the figure of over a dollar for fair value using different numbers. I'll post below. But I have a question, why do you take net income divided by 92m? Isn't net income divided by total shares outstanding, regardless of who owns them?

I figure 5m a week in sales, not including any growth. 20 percent profit margin, with a 15PE, divided by 722m shares, and I get $1.08. this is conservative, as I don't account for any more share retirements or earnings growth. My quesiton is, why don't you divide net income by total shares? I hope i'm wrong cause taking your math PPS would be much higher.