Replies to post #194950 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[SirZ]

That's correct.

[caltrader]

Who cares.

The company needs shares for potential take overs, to prevent a hostile takeover and who knows what else.

Whether they have a few million or a few billion its whether they issue them or not.

You think the company is going on the Nasdaq to invite institutional investors in order to dilute. Their SP would drop so fast and they would be delisted under $1.

Come on people. They will be on the Nasdaq where less manipulation, a low float and lots of ammo to make good choices.

A company that wants to screw you, can do so with 200 million shares or 2 billion. Trust in mgmt or don't but who cares about a/s.

Show me o/s shares and 800% growth.

[xDREWx]

lol - (this question again). There's no ratio of reduction for authorized. The company provided a nice clear explanation this go 'round. Let me paste it here.


SpongeTech’s authorized common shares refer to the maximum number of common shares that the Company is permitted to issue. The term outstanding shares refers to the number of shares the Company has issued and are currently held by investors and shareholders. The Company’s outstanding shares are the shares that will be subject to the previously announced reverse stock split.

[ezey]

That alows for them to make the apropriate forward split after the dust settles without having to make another filling with Del.