Replies to post #343670 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[shajandr]

Even if that were so (which I doubt), there is nothing about increasing the AS that reduces the OS. That is crapola.

The only times I've heard of the OS exceeding the AS is when the corporation officers/directors are issuing share certificates outside the TA.

For example, in LOCH, Dennis Harris was driving around the South going to fundamentalist Christian revivals and selling LOCH stock out of the trunk of his car. Pay him cash and he printed and issued stock certs on the spot!

Of course when those certs were presented to brokers to deposit, the TA had no record of them and the numbering was wrong. They had duplicate certs - say the TA had #174 for 100,000 shares to John Doe in the register and the broker presented a certificate #174 to Al Smith for 550,000 shares with a different date.