Spongetech Delivery Systems Inc (fka SPNGQ)

[papaul]

Read these statements:

"The Amendment also reduces the aggregate number of authorized shares of the Company's capital stock to 965,000,000 shares, consisting of 900,000,000 shares of Common Stock, 25,000,000 shares of Class B Stock, and 40,000,000 shares of Preferred Stock (the "Authorized Share Reduction")."

"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."

Anticipated R/S & Share Reduction means we have a heck of a lot more than 900-million O/S correct? And since the R/S was canceled we have no A/S reduction correct?

Am I missing it?

papaul