Replies to post #157308 on Spongetech Delivery Systems Inc (fka SPNGQ)

[lucky, mydog]

If SPNG and others in a group would own all issued shares then they could issue a dividend with the agreeement to give it all back to SPNG.

the slight little problem with that idea is that it is illegal market manipulation.

[rdailey4]

Nadar, let's assume that there are 500 million shares legally issued by the Company that are the only legit shares Outstanding. Let's also assume that the Company owns or controls all these shares. Then every other share held by any shareholder is an illegal air share issued by shorts. In order to cover, they do not have to buy a legit share to cover an illegal air share. They only have to buy up all the air shares from shareholders like you and me and have their brokerage firm mark them off the IOU they gave that brokerage firm when they sold the shares short. So, if there are 1 billion shares that are naked short, they have to buy 1 billion shares on the open market at whatever price we want for the shares. Once they have bought up the entire 1 billion shares, they are in the clear.

[KJ]

I LIke It :)

GO SPNG