Spongetech Delivery Systems Inc (fka SPNGQ)

[OldTymer]

power_forward, then we've been at this the same length of time. I also used to do mergers/acquisitions. You are correct, I have only seen a couple of companies cancel the r/s. I forget the symbol; long time ago, but the officers were kind of new at this. They announced something like a 1:500 r/s ahead of time. After their stock tanked, they had to change the number to something like 1:1000. They couldn't believe their price actually tanked after announcing it in advance. lol.

Yes, they do think long and hard. Steve and Michael are old pros at this. They don't make silly mistakes like announcing a r/s this far in advance. Think about it. As crazy as this company seems to be run, it would make more sense that they are up to something. Whether it works or not, who knows? The whole purpose of a r/s is to get the share price up as high as possible. If you announce early, they knew the price would drop. Why would they do this intentionally? You keep the r/s to yourself and hope the price goes up or at least holds it's own, that way when you do the 1:100 r/s, the post split price is right at where you want it to.

Something doesn't smell right. Probably me. lol. Oh well, what the hell do I know? I'm just sitting here patiently, waiting.