Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

pj,
responding to 2 posts:
Didn't take much digging....stumbled over it. If you weren't aware of the following, it has proved helpful to me...just type in a name:
http://www.justia.com/

On the T/A thing, there has to be some consideration given to both cost and benefits, obviously. Nirvana in the form of daily access can only be achieved by the requirement that both the issuer or a T/A, if one is used, maintain the facilities to provide the information. That's Step One. Step Two is establishing a process allowing for the enforcement of the providing of the information by the parties (issuer or t/a) and confirmation of its accuracy. Cumbersome and expensive, right?

I was just trying to suggest a middle ground, like requiring its inclusion on ALL SEC FILINGS, that wouldn't add overwhelming burdens for ALL the parties. Obviously there would be no way to confirm accuracy......nor is there any significant auditing of same now, obviously, and one could hardly expect daily reporting to improve on that...at least in my opinion. But there would be a source for the information........SPNG has filed well over a dozen 8-k's since they filed the 10Q, on 4/20/09, that we still must rely on for an o/s number. Baby steps.

Finally, since there is a handy example, consider how many people who have experienced the drop in pps from its heights who:
1. would have noticed the status of the number of o/s shares on a daily basis,
2. appreciated its financial meaning and
3. done anything differently than they have done in the absence of that information.

That'll give you the economic benefit.....and I would suggest that we spend just a little less than your result on a reasonable solution.