Spongetech Delivery Systems, Inc. (fka SPNGQ)

[starfire]

Mingy,I disagree with your math and here's why..........
"
.....Total issuance to RME= 1,125,547,850

On January 13, 2009, RM agreed to return an aggregate of 133,577,066

On April 16, 2009, RM Enterprises cancelled 526,585,544 common shares to reduce the common shares issued and outstanding from 1,249,451,605 to 722,866,061 common shares. These common shares were put back into the treasury......
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1. "..On January 13, 2009, RM agreed to return an aggregate of 133,577,066..".
This does not mean that they cancelled the 133,577,066 shares.'agreed to' does not mean that they actually did it. In my books this number is included in the 526,585,544 shares that were cancelled.

So that leaves RME with a total number of shares equal to 598,922,306 (1,125,547,850 - 526,585,544) .

2. As of Dec 2009,As of 09/28/2009, RME is only left with 66,154,875 shares.
http://sec.gov/Archives/edgar/data/1201251/000114420409054225/xslF345X02/v163363_ex.xml

So that means RME shed 522,717,431 shares (598,922,306-66,154,875). I can only assume that the 522,717,431 shares were cancelled and returned to Treasury (based on their past actions).

3. Hence the expected O/S stands at 200,148,630 (722,866,061 - 522,717,431).

Finally, the above makes sense to me as Pike is scooping up shares and with their recent filings they would own 80% of SPNG. If Pike has been buying so as to increase their stake to 90% or more, look out for a negotiated takeover.