Replies to post #113640 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[55VIKING]

Jim isnt it amazing how newbies show up and know everything?

[doesduediligence]

Jim54-i was simply asking if the fact that they own 256 million shares at .0184 free trading concerns anyone?

Then i then received the types of responses that denoted lack of basic knowledge, so i posted the 8-k.
(and lets face it-the only thing this board and I know for sure about the I/O is -----no one knows how much is out there. period. company wont tell. transfer agent wont tell.)

Any expert in dd will tell you that structure they utilized (debenture to themselves at a 40% discount) is questionable. Not good, not bad. Questionable. The lack of info on shares outstanding currently, makes this a very tough investment to understand from an investment banking perspective. And it shouldn't be- needs a lot more disclosure.

I'm not saying its a bad or good company.