Spongetech Delivery Systems Inc (fka SPNGQ)

[weeblewobble09]

Logic? You mean reading comprehension? The 8k is the clearest answer to this debate:

It is anticipated that the Reverse Split and Authorized Share Reduction will be effective on the close of business on September 22, 2009, subject to the receipt of necessary regulatory approvals.


I don't know how to make it clearer than that. I don't know why SPNG failed to file an 8k for the increase from 2 billion to 2.5 billion. Maybe they never actually increased it? Who knows, this company sure could be more transparent.

In my opinion, 2.5 billion or 2 billion are far more logical than 900M or 300M for the a/s. Their last 8k makes it crystal clear that the reduction to 900M, and then the change to 300M, are both effective on september 22nd.