Replies to post #191691 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[TTRADER]

Kinda what I was thinking...Something is brewing...Can't wait..to see what it is..

[Maxell46]

Interesting...and I would not be surprised if you are right about a r/s not happening.
This has become a chess game and the moves we are watching are confusing to me.

[flrda444]

The way i see it and i might be wrong, but as long as i have my shares and you have your shares and doug has his shares the shorts haven't covered and want

[SRV-90]

Well, their time is running out as they *need* this 10-K to be released without going delinquint. That would be very bad.

Make it happen already is what I say.

Opus

[Kung Fu Panda]

And one thing I don't hear very much us what the company stands to lose if the shorts are brought to the fire. You are right, the management is keeping their cards close. There is really only so much value in playing friendly with the market makers.

[huggarags]

Rd, love your numbers. From your mouth to SM's ears.
Debbie

[Digs]

Excellent post RD!!!!

Couldn't agree with you more!!!!

damn, i wish Mags didn't sell!


-digs

[JRoger]

I think the question is less of valuation and more of why this method. Assuming your O/S numbers are correct, why a reverse split at all? Based on your numbers, theoretically they could have realeased earnings and O/S and bam we're on Nasdaq in a flash.

Not only did that not happen, but we get a 100:1 r/s and it's said that 900mm shares will be available post split. If that's not baffling I don't know what is.

Also, if r/s is going to force a short covering, they're going to allow it at a much lower price than would be otherwise.

The only logical reason I can see for such a monumental split number (100, yet originally 250) is to create an incredibly low number of shares, so that the bigger the air count is, the more money shorts have to cough up post-split.

Either way, management needs to post the 10-K soon, as they have alienated many investors and continue to do so with each passing day. Failure to do so would mean one less (me) on next Wednesday. IMO

Best wishes to all hanging on,
JRD

[big lug]

RDailey,

It's not a matter of the company not wanting to take any air shares with them. The CUSIP change forces a full accounting and the air shares can't go along for the ride. They will all need to be covered.

I guess I disagree on the R/S. I do expect it to happen because the ultimate goal is NASDAQ and the R/S forces a CUSIP change and the cover.

As far as the O/S... I don't see it as far fetched to expect the unexpected.

Big Lug

[pragmatist]

There was 135 million shares traded just today. How could there possibly be only 10 million O/S!!!