Replies to post #123899 on Spongetech Delivery Systems Inc (fka SPNGQ)

[z4lover]

Clearly the company has issued shares into the public float... It wouldn't be a public company if that wasn't the case. However that practice was not done as the sole means of the funding of the company..

Yes the company got proceeds from the issued shares however. That like a good company the money was invested into the company and growth took place...

SPNG has not always been profitable (shock a company doesn't make 100 million a year from day one lol).. In order to continue to fund some growth they did in past issue shares to pay for services rendered... thus the increase in the public float...

However now that SPNG is profitable they have been buying back that public float and shares are no longer issued in return for services rendered...

THere has been a significant change to their operations.. however rather than understand this change and accept this change as shown on the 10q you assume these practices still take place, even though you have no verifiable proof of anything of the nature going on.

And every time the company buys back stock or reduces the OS further you will be flabbergasted.

[lemon]

Why would posters on message boards be asking questions of other posters about Spongetech? Are these posters inclined to know more than the pr's have stated? Do they have insider info? It's obvious if one holds a hefty position in Spongetech shares, they will answer all questions in a positive manner. A lot of money is at stake and when that's the case, nothing negative can be tolerated. No matter how obvious things may look to the contrary.

If they are not selling shares into the float at current prices, so be it. The truth will come out in August. Hopefully!!!