Replies to post #56529 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[happyguy72]

the prefereds carry 100:1 voting rights...

no need to raise the a/s to protect against a take over..

[wadirum1]

Caution,

They already control the company through their super-voting Class B shares. Protecting against hostile takeover could not possibly be the reason of the A/S increase.

Guess again.

Another clue -- in December 08 they increased the number of class B shares to preserve their voting majority up to an OS of 1.5B.

Can't folks see what is happening? These guys will keep doing whatever it is they are doing as long as it works so well.

Wadi

[phrantic]

Caution, why would they raise the AS to prevent a hostile takeover when all they'd have to do is simply buy up the float? At these miniscule prices it wouldn't take much to do that, then if there truly is a NSS they are screwed.