Spongetech Delivery Systems, Inc. (fka SPNGQ)

[wadirum1]

Spino,

If SPNG still has any shares that are owned by RM, then they are in essence selling shares in SPNG at a DEEP discount to invest in dot coms. What is the average cost of the RM shares? Well, that is effectively how GFGU was financed until such a time as RM has been retired.

Of course, maybe they have done so already and are just sitting on the news as part of the shake out of retail.

Also, they aren't a mutual fund. If I wanted to buy shares of Getfug, I could do so in my own account. If they wanted to own some shares they could have done so through RM.

I just hope we got one heck of a deal on those shares (and the same or better deal at SPNG as at VAEV) -- and yet if we did a deep discount, then what does that say about the quality of the investment?

This is a fairly big negative in my book, and it doesn't smell right to me. I really think they should include a statement of prior financial interests, if any, by board and/or mgt in GTFU in the subsequent events section of the 10K.

Wadi