The 2.3 billion SpongeTech shares in the hands of honest retail investors... are PHANTOM SHARES!
Shorts don't have to have them "relinquished" by the honest retail investors! The shares DON'T EXIST!
What the shorts have to do is to find someone to sell them 2.3 billion REAL shares so that all PHANTOM (non-existing) shares becomes REAL (existing) shares.
And that "someone" to issue 2.3 billion shares can ONLY BE ONE PERSON -> SpongeTech.
REMEMBER:
1) The A/S is CURRENTLY 3 Billion. That is NOT a coincidence. That is NOT for fun.
2) The transfer agent is GAGGED
3) The company PUBLICLY ANNOUNCED they will do a 100/1 R/S
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.