Spongetech Delivery Systems, Inc. (fka SPNGQ)

[patchman]

I saw all this BS on the SPNG longboard about how to get a share count. Funny thing is, it will not work the way they intend.

The Issued and outstanding as declared by the TA is already known so seeking out some declaration from them is moot. The TA has reported an O/S to the SEC.

now, to find out what is the number of shares in the market is a different animal and the "experts" they called upon are quite wrong in how to do this. The NOBO/OBO is not intended to be accurate to the levels intended. In a fluid market with 3-day settlement there is an automatic level of uncertainty that can not be quantified. Unless everyone reporting in is doing so at an exact time the trading itself will make the numbers inaccurate. If all reporting firms do not report on the exact snapshot in time you get errors.

The only way to get a full and accurate assessment of share count is to have account statements provided in a period beyond the date in which trading has stopped. After all, if a broker is hiding fails ex-clearing, would those same shares these firms are desperately hiding show up in a NOBO/OBO?

Not exactly rocket science.