Spongetech Delivery Systems Inc (fka SPNGQ)

[xDREWx]

Just a few questions since you are good at reading filings...

What does this mean: "In addition, during the quarter ended February 28, 2009 certain of our affiliates repurchased restricted and non-restricted shares and have returned to treasury and cancelled 149,365,993 shares of our common stock. Although the Company intends to cancel an additional 133,577,066 which one of its affiliates has agreed to return to treasury, to date such shares have not been returned to the Company’s transfer agent for cancellation."

It was on the last Q and makes me think we might have a reduction to the OS of over 133mm

Also...

What does it mean "purchased in cash" where it pertains to spending 4 million to buyout Dicon? Does that mean they had to have 4 million dollars in collected unspent revenue?

Maybe they got it from selling shares...

Which makes me wonder what this means: "its Chief Executive Officer, Chief Operating Officer and Board Members have been purchasing SpongeTech®’s common shares in the open market. Together the team has purchased approximately 18.2 million (eighteen million two hundred thousand) shares"

Does that mean they have been buying shares off the open market?

If you could please explain these a little further...