Replies to post #191038 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[z4lover]

if that's the case who is buying and why??

[Spongewood]

Yeah, Hoss, I agree.
I am still holding shares with little or no profit at this point but this R/S was intended to prevent a squeeze not cause one in my opinion. Management took a shortcut to the Nasdaq at our expense. Just a little reward for "Average Joe" hanging in there with them. Sorry, I've been behind this company so far but, expectations have been ratcheted way down as a result of this. SPNG may still be an OK investment but, "life changer" is off the table unless there is a complete about-face. I have no reason to believe anything other than a 100-1 R/S will happen. Once that does, the multiples are just not there for huge gains. And I'm not trying to break the code of why the two announcements were made together. People are grasping at straws trying to figure this out.