Spongetech Delivery Systems, Inc. (fka SPNGQ)

[thanley]

I bet they were hoping to rush it and get it done, or they were still afraid of shareholder revolt from the RS last week.

That RS screwed up the momentum, and this announced after that on the 11th really was a damper to their plan.

I was a believer that they had a series of plays in place this week to recover value once the 10k came out. Now they are backed into a corner.

I think we'll see the 10k sooner than later, the pressure is on them now.

I also think we might get a 10% haircut or so, but I don't think today is going down to single digits, at least I hope not.