Replies to post #145148 on Spongetech Delivery Systems Inc (fka SPNGQ)

[mrrhodes]

yeah baby!!

[hasher]

stock repurchase program from 100
million to a maximum of 150 million common shares. As reported in the Company's
3rd Quarter 2009 filing for the period ended February 28, 2009, the Company
repurchased 55,824,336 shares of common stock at an average price per share of
$0.0308 under its original repurchase program of up to 100 million shares of
stock.

Big deal.. an extra 50MM shares out of 2.3 billion. Only 55MM actually bought back at feb 09.
Its a big smoke screen, and their raising that number means nothing till they do it.
This company cant challange the numerous posters red flags so they put out totally meaningless PRs. They will probably unload at least another 50 million today alone, and continue till they run out of stock.
My only question is will they have to file their real numbers before or after the next raise in the AS

[crashman]

"As reported in the Company's
3rd Quarter 2009 filing for the period ended February 28, 2009, the Company
repurchased 55,824,336 shares of common stock at an average price per share of
$0.0308 under its original repurchase program of up to 100 million shares of
stock."

Now what happened to those 520 million shares from RME that "were returned to the treasury" as per the last 10Q. I read here that SPNG repurchased those, but that can't be true according to today's PR! They never repurchased that many shares, makes you wonder what kind of web they weave.