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underdog150

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underdog150

Re: xDREWx post# 189334

Tuesday, 09/08/2009 5:51:20 PM

Tuesday, September 08, 2009 5:51:20 PM

Post# of 346917
Drew, the A/S is still what it was before this RS announcment, meaning 2.75 billion. SPNG decided to send the info to the Deleware SOS about the O/S reduction 3 weeks before it was going to happen on 8/28, hence the supposed
lowering of the A/S to 900 million. How can you not see what they did? Please read the 8K filed today.
----------------------
Yes, you are missing something. They approved a decrease in SpongeTech's authorized capital (but we already know it because of Delaware - they are just alerting everyone here).

Think of it like this. You still think they have 2.5Billion authorized (like they did a few weeks ago) and now they are going to have a reverse split and also voted to reduce the AS to 900million.

See?

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