***UPDATE FROM IR*** 28-Sep-09 07:14 pm From Poster ERICG - GOOGLE MB
Posted by EricG, Sep 28, 1:49pm
I did ask about the A/S shares of 3 billion. Here is what they answered: We would like to thank you as a shareholder of SPNGE.OB. To answer your question regarding the increase in the A/S. The increase is due to the previous announcement of the 1:100 R/S. When SPNGE "the company" proceeds with the R/S plans, the A/S will reflect the split
accordingly, so shareholders will not see the shares actually increasing as authorized. The O/S shares still stands the same as the end of the previous fiscal year according to our most recent information.
I asked them about the SEC investigation, and that's their answer. We appreciate clearing any doubts you might have as a SPNGE.OB shareholder. The company restated the facts regarding their business operations on 09/25/2009. We can't comment in details regarding the nature of the SEC filling, but since SPNGE.OB "the company" is a SEC reporting company, it is required to disclose any formal request it
might receive from the SEC on its behalf or on behalf of any of its business affiliates. The nature of the SEC filling is arising due to the company's previous accounting firm's troubles with the PCAOB. When the re-audited schedule 10-K will be released within few days, it will
officially state and shed more lights on SPNGE.OB "the company" financial achievements. We appreciate your concern and look forward to assisting you again at a later time.
