Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Byron00]

I doubt that's why.

I think when they decided to do the RS they also decided that they had to hit it hard, because there would only be one chance. If they did it 25:1 and then the share price didn't hold above $4, they'd be out of options. No way you could do a second RS on top of the first one without a game-ending total implosion and collapse of the share price. They only get one roll of the dice with this.

But if 100:1 turns out to be excessive, that can be fixed with a forward split later, no harm no foul. Not so if they miss in the other direction, and they are making darned sure they don't.