Replies to post #42474 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Carpedeim357]

Unit series b has all the voting power so not up to us. Same reason no one can just buy control of SPNG either.

[z4lover]

It depends on what the offer was for if it was for all the stock or just part of the stock..

If it is for part of the stock, you would get a letter in the mail from your broker saying xyz company wants to buy x million shares and will pay you x pps. If you would like to sell please do this. (sorta like what happened with wendy's and im sure others I just owned wendy's thus the reason I give this as an example...)

If it is for all of the stock, i believe their would be a vote, (not sure) but in any case it would be on the company to say if they'd take the offer. (sorta like what happened with bud, from imbev)