Ok, First I would like to say that I've been a shareholder since November last year. I've watched this board for the past 6 months or so and haven't really felt a need to post till today. So I joined. Ok with that said I keep hearing all this hype about the 10k, it’s going to say what the company has been saying, 50million in sales and 10million in revenues. As far as the outstanding shares it’s going to list the outstanding shares on the date of record which is 5/31/09. And at that time there were 2,060,000,000 shares authorized, not anymore not any less. Also I can't seem to find the PR's that mentioned the buy backs but I’m pretty sure that they were after the date of record 5/31/09. So if you’re looking for a major decrease in outstanding shares it’s not going to be on the 10k, I can be wrong but I’m pretty sure it all when down around the same time they bought Diacon.
Also as far as the Reverse split its seems like the right move for the company now. If you have been following the company like I have they have continually made mention that they want to go into the household cleaning products market and that where the real money is. This was said numerous times by the officers they also said that they were looking to get in that market through partnerships. Now any of the majors in the household goods companies don't want to go into bed with a little fly by Night company not listed on a major exchange. This is about building prestige and its going to hurt the stock price in the short run but in the future it will produce higher value, and possible dividends. I'm not saying this future as in 6months or a year. The company is doing what is best for the company. My predictions are the value of your holdings are going to be depressed for some time. In the future, next two years or so, when the company has developed partnerships with major cleaning manufacturing companies and brands there will be a major % increase. The Spongetech has been very strong on this point and mentioned they were in dealings with a couple of majors.
Now my personal move was to dump today I’m not sure if today was bottom or not but I can’t in my personal situation let it go any further, but if I was in a different position I would be holding this one for a long time.
