Spongetech Delivery Systems, Inc. (fka SPNGQ)

[ID Supermoney]

Outstanding shares matter, HOWEVER the floating shares matter the most.

Outstanding shares are 722 million
Floating shares are 352 million

Even if they retire 200 million shares it means nothing the Float still remains 352 million and the share price remains the same.

It matters if they retire the buy back shares only and as of Feb 28, 2009 they have not retired the 55 million shares. Even if they buy back 150 million shares. until they retire them the float remains the same and therefore the share price remains the same.

therefore if you take 55 million shares out of the pie already there is actually only 300 million shares out at this time.

Why is the share price not advancing??

The other problem is that they may have not bought any more shares of the buy back before May 31, 2009. Therefore we will not know until Oct 2009. And the share price will remain at $0.14