Spongetech Delivery Systems, Inc. (fka SPNGQ)

[TigerTrader83]

An R/S is the fastest way to NAS. If they bought back shares they would have to get their PPS up to $4. There is reason to believe there are NSS here and they would never let the PPS naturally raise to $4. By doing a R/S they can get on 5 days after the R/S and deal with the NSS in a more controlled environment, where the shorties dont run the show.

"NASDAQ will require that the issuer continue to meet the bid price requirement for a minimum of five consecutive trading days after the split takes place."

-http://www.nasdaq.com/about/FAQsInitial.stm