Spongetech Delivery Systems Inc (fka SPNGQ)

[underdog150]

Good post weeble, at least some here get it.
Why else would they delay the 10K until the last possible
minute. All those soon to be retired shares they bought back will look great in the maybe to be filed, already late, 10K.
This company manipulates everything to suit their stated goals
off the backs of shareholders, while they rake it in hand over fist.
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The theory would be that they filed on August 21st to reduce the a/s to 900m and have a 250/1 RS on sept. 22nd, knowing that Delaware would report the CURRENT a/s at 900M (which it's not, just like it's certainly not 300M now despite what Delaware will tell you). That sent the stock price higher. Then SPNG sold tons of stock in the high teens and 20s. Then revealed the r/s tanking the stock, allowing them, thru AYME, to buy back the stock they sold at a much lower price. Then could can the r/s and then sell stock again at higher levels if they want. Insider trading and stock manipulation at it's finest.

OR, they're still selling as much stock as they can and the 10K is never going to come out.