Replies to post #197752 on Spongetech Delivery Systems Inc (fka SPNGQ)

[El_Jefe42]

Wadi ... the 30B A/S pre-split number has been floated around since the news of the R/S. I've wondered if they indeed intend to go through with the 100:1 RS long enough to get on the NASDAQ, then do a FS to bring the number of shares in the float up to a reasonable level for trading on the NAS. Then again, what is a reasonable number of float shares for the NAS, and what kind of FS would get us there?

[weeblewobble09]

If you contact Delaware they'll tell you the current a/s is 300M. Everything is effective to them from the date it's filed. There's no good reason to believe the current a/s is 900M. I'd say it's still 2.5 billion. If SPNG timely filed 8K's for every a/s change we wouldn't be having this discussion. The increase from 2 million to 2.5 was never 8k'd either.

[Spinosaurus]

wadi: Maybe I'm mistaken, but aren't only O/S effected by a r/s? Then assuming that is the case, and if the A/S of 900m would not have been reduced effective 9/22, then wouldn't the A/S still be 900m after 9/22?

So, in effect mgmt. is reducing A/S by 2/3 from what it was --because r/s do not effect A/S. What am I missing here?

So, You are looking at the A/S reduction to 300m post split as if it is a disguised 30 Bil. pre-split. And I do not think one can view it that way because r/s do not effect A/S. I guess my logic is different than yours. Spino