Replies to post #123367 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[z4lover]

Legally shares held in the company's treasury are not issued and outstanding..

133 million as per the 10q were retired to the company's treasury... this has nothing to do with the float...

now to go further... the float is tradable minus insider ownership... which isn't what 220 million was.. that was the issued and outstanding minus the RME shares... not the float...

now if you want to give a low PE level to the stock that is fine.. but note this stock is performing better than 99% than others to discount it is fine... however you might want to look at the RME share structure and how it can be restructured before you assume anything further...

589-220 = 369 million shares... of which have a cost average of .01 cent and a value of .01 cent... now if you restructure them at todays price... with the 40% discount.. which can be done .1246 * 0.6 = .07476..

now that debt is about 3.6 million in debt... this dollar value of debt thus at a .07476 cost average would be 48.15 million shares..

now added to OS of tradable shares and you get 268.15 million shares...

Now lets do the calulations at this level...

10\268.15 = $0.03729

at an average PE of the industry which we are above average..

PE of 15.1... we'd have a PPS of $0.563

now at a average growth company's pe in the industry of which we are better than 99% of all companies in regards to growth..

PE of 30... we'd have a PPS of $1.119

Now there is a way to get to the nasdaq and stay on the nasdaq with a PPS of $1 dollar...

however we also have to take in regards that the company is buying back and retiring the RME shares, and that there are two buy back programs that the company is working on for the Tradable shares...

hope this helps... but RS is the last thing they need right now... and based off todays valuation they could get to a $1 a share...

[printmail01]

I agree SPNG is going to have to do a R/S to get uplisted. also Not saying r/s is going to happen.... IMO the whole uplist stuff is just smoke and mirrors.... SPNG left a long list of disclosure questions unanswered when they withdrew a share registration in 2006. Those same questions and I am sure many more will be required to be answered, SPNG is a whole lot bigger then it was in 2006 , lots of new info will need to be disclosed.... Plus some current disclosures from SPNG filings are NOT going to fly with NASDAQ , all of these "not charged back" expenses will need to be quantified and applied to past earnings and all this "controlled by the family of our Chief Operating Officer" stuff will need to examined , disclosed, and scrutinized....

"During the 2008 fiscal year, a portion of our selling, general and administrative expenses, including costs related to product and package design as well as certain consultants, were borne by (and not charged back to the Company) a privately-held company controlled by the family of our Chief Operating Officer."

http://www.sec.gov/Archives/edgar/data/1201251/000114420409021409/v146656_10q.htm

[royalscam1]

There are other ways to get listed besides doing what you suggest. Just remember that..