Spongetech Delivery Systems Inc (fka SPNGQ)

[spongeboy]

repost on Pike

If noboby lied - Pike makes $276 milion


If we ever get a 10k and get back on OTCBB - I think 10k will show $56M sales $11M Earnings 500M O/S. This is .0224 EPS (earnings per share). A P/E of 15 gives us the PPS of .336 - If the O/S is 250M the EPS is .0448 so a P/E of 15 gives us the PPS of .672

But stocks are priced on future earnings so.....

If the PRs were true we had $70M booked for the first 3 months of the new fiscal year we are already in.....

August was $29M and $29M x 12 months is $348M without further growth - Let's add Dicon and call it $350M for "easy math" .. Earnings should be $70,000,000 -- past profit margins has been 17%-22% but could be higher with volume and the Dicon aquisition--- so we earn $70,000,000 or .14 EPS at 500M O/S

Our industry
commands a 17 P/E (but I will use 15)

If the O/S is 500M .14 EPS 15 P/E = $2.10 PPS- easy
If the O/S is 250M .28 EPS 15 P/E = $4.20 PPs- easy

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Pike bought 142 million shares for - lets say $7,500,000

he can sell at $2.00 and walk with $276,500,000
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Provided all past filings and past PR's are true - and nobody lied..

JHMHO