Spongetech Delivery Systems Inc (fka SPNGQ)

[z4lover]

Where are you getting this...

with a reverse of 50 to 1 that would give us an EPS of $1 dollar a share...

Then you take the AVERAGE PE of the industry 17.1... and we would have a pps of $17.1... That's average, however the company is one of the top 30% growth companies out there... as per Reuters... we would much more likely be looking at a PE of 30-40 if that's what happens... ie 30-40 dollars a share... (kinda more than the 4 dollars needed imo) THIS IS AS OF TODAY if they did this...

And then you take into account next years earnings which we are on pace to do 48 million in earnings... that would give us a PPS of $82.08... with the average PE ratio of the average company... however it is much more likely to get a PE of 30-40... Which would give us a PPS in the $144 dollar range...

I'm sorry... but this is just an absurd suggestion that this is need... there is no reason to need a 144 dollar stock...