Replies to post #166339 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[SRV-90]

taken from April 09 10-Q and is in all the other 10's if I'm correct.

Because of the nature of our relationship with RM, the above offerings and sales were deemed to be exempt under rule 506 of Regulation D and Section 4(2)((transactions by an issuer not involving any public offering.)) of the Securities Act of 1933, as amended.

This is of course talking about the A/S

People need to understand this more, as it is a key reason for what they are doing. Right Carpe? lol

Opus

[OldTymer]

Spinosaurus, oh absolutely. Currently the A/S is what the SOS says it is. Yes, they can file for a reduction to 900M anytime they want. It's just strange that he tells us he's going to reduce it, then raises it. However, not knowing what's going on behind the scenes, he may have a good reason for doing this. I know it doesn't make sense to us, sitting here, but there may be a good reason he's doing it this way. Can't wait for the 10K. Should be interesting.

[underdog150]

And how do you know this?
The first question that needs to be answered is why
they raised the A/S again when they said they were
reducing it to 900 MILLION.
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Old Tymer: Agreed. However, the SPNG Bd. of Dir. can again soon-- very soon, amend the Art. of Inc. to the 900 mil.; then file that change with the Del. SOS and deliver both to the TA at the same time, whereby the 8k will be filed with the number promised in the PR. I cannot explain why an interim 8k for the 2.7 has not been filed. However, SPNG's SEC attorneys certainly know more than we do and will do whatever is proper and required and legal. They have thus far. That said, I can only assume at this point an 8k does not have to be filed for the 2.7 bil. A/S amount.