Spongetech Delivery Systems, Inc. (fka SPNGQ)

[patchman]

Starfire, lay it out for me...

New Management. Is it a takeover from a private firm? What should this firm offer existing shareholders who own essentially nothing. In a deal like a reverse merger, shareholders of a shell get 10%. that means 90% dilution. Is that what you suggest? why would new management and investors come here for anything less than 10% since the company is presently bankrupt and out of business (shell). The company is likewise liable to any damages declared by the SEC (bankruptcy does not exclude that liability).

So come on genius, lay out a plan as to how new investors and new management come in here and offer anything up to existing shareholders. Tell me in detail how you win out with any kind of return on investment. 3 billion O/S on a POS company filing bankruptcy. Reverse it down to 3 Million and then sell 30 Million to raise the capital necessary to restart the company. before you sell anything you are already at 33 Million shares and existing shareholders have 1/1000 what they had. Why even bother when Spongetech doesn't even own a patent on their product. You can buy Dicon out of the bankruptcy at pennies on the dollar and start clean private and/or public for much cheaper.