Spongetech Delivery Systems Inc (fka SPNGQ)

[wadirum1]

I agree that those shares were issued at par, but I think you are reaching the wrong conclusion. The O/S contains all shares, regardless of whether or not they are issued at par or $100 each. The prs from Jan show a series of share transfers from RM to SPNG, but then in April it is unclear whether RM or SPNG is cancelling the additional 500mm shares. According to my way of looking at things, the share counts do add up and we emerge with 722mm. Apparently your numbers do not add up. Let's bring in ole Occam's Razor.

Wadi