Spongetech Delivery Systems, Inc. (fka SPNGQ)

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Hello! Read the PR!

An amendment has been filed with the Delaware Secretary of State that amends SpongeTech’s certificate of incorporation for the reverse stock split, effective as of 5:00 pm ET on September 22, 2009. SpongeTech has also begun the approval process with the appropriate regulatory authorities.

In conjunction with the reverse stock split, the Board of Directors and the holders of more than a majority of SpongeTech’s voting capital stock have approved a decrease in SpongeTech®’s authorized capital. The post-split authorized capital will be 900 million shares of common stock, 25 million shares of Class B Stock and 40 million shares of preferred stock.
http://app.quotemedia.com/quotetools/newsStoryPopup.go?storyId=24817347&topic=SPNG&symbology=null&cp=off&webmasterId=89753


"POST SPLIT" MEANING AFTER THE SPLIT HAPPENS , NOT PRE SPLIT - POST SPLIT - THE AUTHORIZED WILL BE 900 MILLION SHARES POST SPLIT - THAT IS AFTER THE 100 FOR 1 REVERSE SPLIT , MEANING THE AUTHORIZED SHARES POST SPLIT , 900 MILLION , IS EQUAL TO 90 BILLION SHARES PRESPLIT > 90,000,000,000 SHARES! WOW - Get ready for the Dillution machine , they wil be marketing stock like they do sponges , I bet they can sell as many shares as they can sponges , they know this....