Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Need a New Alias]

Pedro-that's the only rational explanation. No hedge fund would purchase a ten (or whatever) penny stock on the open market as a play, particularly when 10 minutes of DD would reveal its scammyness.

Pike does list equity financing as a service, so I suspect they scored the shares at a forty or fifth per cent discount.

But spongy isn't diluting. Nope.