Spongetech Delivery Systems, Inc. (fka SPNGQ)

[realfast95]

I can see just fine, with reading glasses.

"Another one who can't see the forest from the trees"

They could have announced the reverse split after the 10K was released and done a major short squeeze. Based on your case, they Shorts get off easy at a discount.

So why didn't they wait for the 10K before announcing the reverse split?

The most plausible reason is that they ran out of shares to sell. 900M shares after the reverse is equivalent to 9 Billion today. They must have already sold 2 billion.

And BTW my experience on Reverse Splits is that it takes 30 days after they file the paperwork. So you may be waiting until October 22nd if they said September 22nd.

If it walks like a duck and talks like a duck, IT'S A DUCK!