Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Mingy]

'patchman' Let me try to make this a bit more simple to understand but using an example.

Frank buys 1000 shares of spongetech on Monday, then sells 1000 shares on Tuesday to Eddie. If in 3 days Eddie doesn’t have his shares from Frank, Frank has failed to deliver. Bottom line, whether the person who sold to frank didn’t deliver, or frank is holding the shares and not giving them to eddie, it doesn’t matter, there was a FTD.

There are 3 days to settle a trade, if a person doesn’t deliver, regardless, it’s a FTD. By mentioning longs failing to deliver, its just adding confusion when bottom line, shares are not being delivered, and more shares are owned then can be delivered, thus depressing the share price.

So while the original discussion was about whether Spongetechs FTD’s are included in the short interest, which was proven false, this is a different issue which actually doesn’t matter and just makes the bottom line more confusing when it doesn’t need to be.