Spongetech Delivery Systems Inc (fka SPNGQ)

[puppydotcom]

lets say, .. the company survives the SEC wells notice and the lawsuits .. by that time they will be cash poor .. providing they're not broke now ..

they will need cash to operate - and the only way will be by selling shares .. to whoever!

they will most certainly Revers Split the share holders into the black void and increase the A/S . how many restricted shares are still out standing from the current holdings?

either way .. the current common share holder will be basically wiped out.. including PIKE if he is still holding shares

say thanks to this great management team

PS: the R/S was announced before the sec suspension

CEO Michael Metter said, “We originally planned for the reverse stock split to take effect after the filing of our Form 10-K for fiscal 2009 to give our shareholders the opportunity to evaluate our financial performance and growth prospects first. In light of the delay in filing, we have decided that to proceed with the reverse stock split would not be in the best interests of our sharehold