Replies to post #191377 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[fyrman68]

Because the actually filed for the R/S on August 28,2009. Read the 8K

On August 28, 2009, Spongetech Delivery Systems, Inc. (the “Company”) filed a Certificate of Correction to the Certificate of Amendment to its Certificate of Incorporation (the “Amendment”) with the Secretary of State of the State of Delaware that effects a one-for-one hundred reverse split (the “Reverse Split”) of all of the issued and outstanding shares of each of the Company’s common stock, par value $0.001 (the “Common Stock”), Class B stock, par value $0.001 (the “Class B Stock”) and preferred stock, par value $0.001 (the “Preferred Stock”). Any fractional shares will be rounded up to the next highest whole share. The Amendment also reduces the aggregate number of authorized shares of the Company’s capital stock to 965,000,000 shares, consisting of 900,000,000 shares of Common Stock, 25,000,000 shares of Class B Stock, and 40,000,000 shares of Preferred Stock (the “Authorized Share Reduction”).

[Spongewood]

Krykuss,
Right now shorts are covering and longs are getting the shaft. This may be temporary but, any hope for a squeeze is vanishing by the day, IMO. I didn't get into this for a squeeze but, didn't think there would be a R/S either. I was just looking for steady appreciation of my investment. This may still happen but, the horizon line has just been moved out and the expectations have been reduced significantly. Not all bad but, not too pleasant right now for a long that went in the red today - namely me.

[eelfland]

In case you don't mind some friendly advice, you will be a much more successful and happier trader if you ignore/dismiss the spurious notion of NSS or wicked MM's or MOASS, etc. (the mantra of bagholders) being a factor in the marketplace. Your only friend and worst enemy is the insiders of the company in question. They are trying to lie you out of your money and everybody else's as well. You just have to figure out when and how they're working their devious magic. The SPNG guys are good. People who believe the story that OTCBB insiders come up with end up as bagholders. Every time. That's the nature of the game. It's you versus the insiders, and the only way to win is to mimic their trading, because they always hold the winning hand, and always will, because they own the company, as well as the marketplace, and make the rules, such as they are.

In my humble opinion.