What is there to say?
Im sure they are hard at work. I dont own this crappy stock anymore. Its obviously time to exit the markets in general right about now. The entire market is down on profit taking. Buy and hold it dead, have to always be a seller. THAT IS WHY THE SHORT SELLERS RUN THIS STOCK.
Ive tried to contact Spongetech many many times. If they wanted to talk to me or shareholders, they would. They dont want to, and they wont.
This is what they will tell you, but if they wanted to be "clear and transparent" and "enhance shareholder value" they would address the REG SHO LISTING, they would EXPLAIN THE A/S INCREASE when it was supposed to be a DECREASE. THEY ARE MUTE ON SHARE STRUCTURE AND NASDAQ.
BUT THIS IS WHAT THEY WILL SAY IN THEIR PRESS RELEASES:
"We are excited to be moving quickly to complete the process of reducing both our authorized and outstanding shares as well as provide clarity," commented Michael Metter, CEO of SpongeTech®. "This significant reduction is an expression of both the progress that the Company and its innovative product lines have made to date. We are confident that there will be more advances to come in the near future with regards to our product development and penetration of what we fell is currently a targeted market that is extremely large, yet grossly underserved." Metter continues, "I have always commented that it is SpongeTech®'s commitment to shareholders to gain their trust through transparency, progress and hard work. It always has been and always will be our goal to constantly build on our shareholders confidence."
"The reduction of the Company's authorized shares is being done to assure our shareholders that we are careful and prudent with the issuance of our stock," stated SpongeTech®’s COO Steven Moskowitz. "The significant reduction in both the authorized as well as outstanding share structure will serve to further enhance our overall earnings per share and make our stock more attractive to own for both current as well as prospective investors."
AI
