Spongetech Delivery Systems, Inc. (fka SPNGQ)

[OldTymer]

toddean, basically that pr about the r/s is a forward looking statement. Until FINRA has the appropriate filings from SPNG, no r/s. That's what I was told. The Delaware SOS says that when a company officially amends their certificate of incorporation regarding an increase or decrease of their A/S, it becomes legally binding asap. SEC has nothing to do with A/S of a company. In fact, I called the SEC a while back and asked what their policy was on A/S. He said the SEC doesn't concern themselves with a companies A/S. He said they have nothing to do with it. A company can raise and lower their A/S anytime they want as long as they do it by the rules.

As far as the language in their 8K, that's a good question. The SOS is giving out the 300M A/S. The only way they can do this is if SPNG officially files their paperwork to do this. That means SPNG did indeed file an amendment to lower their A/S. Why SPNG is saying that it will happen on the 22nd is a mystery to me.