Ok, first of all, it has been 16 days total, not business days. IDK where you are from but government offices:
1)aren't open on weekends
2)are extremely slow when it comes to processing paperwork, or anything else really
Further, according to the Delaware Division of Corporations:
"Regular (non-expedited) work takes on average between 10 and 15 business days to process. However, due to the large amounts of work received in June and December, your document will take longer to process at these times of the year."
If they mailed it on the day prior to the PR,the 26th of JUNE, it would not reach Delaware until a few days later- lets say it gets there on the 29th which is more than fair. Now it has been less than ten days. As stated on the Delaware website, it will take longer than the normal 10-15 days to process paperwork. I think it is also important to add that over 80% of all publicly traded companies are incorporated in Delaware so this office handles an immense amount of paperwork, which takes an immense amount of time.
Once Delaware processes the paperwork, they have to notarize/certify it and mail it back to the company. That is another 3-5 days, at least. Once the company receives confirmation of the amendment to SpongeTech's articles of incorporation, they now have to forward this documentation to their transfer agent who will then cancel the shares. This stuff takes time people- i mean, it takes two or more weeks minimum for you or me to just get a new license, ect.
If one actually knew the process for amending a companies articles of incorporation, they would understand how involved it is...and further, understand how long it takes to get anything done- it probably takes about a month if not more, so relax...
