Replies to post #170822 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[RyanTH]

Wouldnt that make the illegal shares legal?? Would the co then benefit directly by obtaining cash or issuing shares. True share holders wouldnt benefit from any squeeze and then they would have a true 2.5+ B O/S. I dont like that option IMO.

[wadirum1]

Say they are short 2B. Say that a MOASS begins and we are quickly at $2 and things are getting a bit out of control (some small hedges going BK and brokers and MMs getting upset). Sit down in a meeting with all parties who are "on the hook" and let them buy 2B at $2 each. Sure, the O/S would increase greatly, but SPNG would instantly be a major company with $4B in its coffers.

SM has repeatedly said he was not going to do this, but I like to think about all options. Heck, even if he wouldn't do it at $2, I have to think that he'd consider it if the price was high enough.

The only way that option stays open for SM is if he already has an adequately large A/S in place.

Wadi

[Fishforbreakfast]

Hello, Risk54.. For the sake of example.. Lets say the company did sell the Naked shorts the shares they would need to cover.

I will use 2.75 Billion A/S shares available for possible sale. Now take away 900 million with that being the A/S stated goal.

That leaves 1,850,000,000 shares that could be sold to the shorts for them to cover.

Let say for this example SPNG sells the shorts shares for $3 a shares rather than letting them cover in the open market.

The company would then have $5,550,000,000 dollars. Wow.

Now the good part.. Once the Naked short part is covered.. You still have 900 million A/S shares with 500 O/S shares in the float. What the shorts bought back never were issued they were all fake.. Counterfeit

The company takes some of that money and buys back all the REM shares maybe they have already done this..Thus reducing the O/S even more.

Then they issue a one time special dividend per share for $1 a share..Maybe .50 or what ever amount for share holders of record on a certain date. Thus rewarding them self's and existing shareholders.. And attracting new shareholders

Do you not feel some serious money would start to buy up the float to a high enough $$ Amount to make a Nasdaq Up listing.

So much to think about.. It makes me dizzy.. In any event the Truth will be know sooner rather than later.. The 10-K will tell the truth.. Buy & Hold.. The Forward Potential is real and it's huge.. GLTA FFB-Fish