Replies to post #30848 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[rdailey4]

I think they raised the A/S to accomodate a stock dividend which they decided not to do. ROB said earlier today that I was not right in that theory, but I think I was. They have not increased the O/S so at this point it is moot. I wouldn't worry about those extra shares. I think, just like the company has said, that we will be looking at a much lower share count and that is good for all of us. I think there is easily several hundred million shares naked shorted and I think that Doug, some insiders, and us are going to make a lot of money from a squeeze. I don't see how any other scenario works. Unless a lot of people are lying, which I don't believe. I have 1.25 million shares and I will tell you that I, without a doubt, intend to sell for 1.00+ per share. So, company people, let's get this thing going, the shorts are ripe for the plucking.

[Whiplash_Investor]

My theory, since Steve told someone here that increase in A/S was part of the "Plan", is that the increase is to issue a 1 for 2 or 3 stock divy to force accounting of shares. If that's so, the increase won't represent dilution. Our stock value will be the same before and after, but then...short squeeze and stock value to da moon.