Spongetech Delivery Systems, Inc. (fka SPNGQ)

[bigsage85]

Interesting find regarding O/S & A/S

On 9/25/09 the company filed an 8k raising A/S from 900M to 3B.
From the next trading day of 9/28/09 to 4/16/10 - a total of
2,122,571,908 shares have been traded - total the volume if you don't believe me. The difference from 3B and 900M shares is 2.1B obviously and as we see the total number of traded shares from then to now is 2.123B. The company has to have buyers when diluting which would be part of trading volume. You mean to tell me that all but 22,571,908 (assuming that the O/S at the time was 900M since it couldn't possibly be higher than the previous A/S) of these shares traded were from dilution & issued by the company and bought by investors when also considering that almost every day the short volume is over 65%?? Oh wait, I forgot to subtract the 15,050 shares that weren't issued per that very authentic document we all saw... Darn!