Replies to post #197817 on Spongetech Delivery Systems Inc (fka SPNGQ)

[weeblewobble09]

8K makes it clear that SPNG's intent was to lower the a/s at the same time of the r/s. They filed early just to get people to think that the a/s is 900M. Sure, Delaware will tell you the current a/s is 900M but all they are doing is reading from a piece of paper that SPNG handed to them a month early. SPNG never actually lowered it:

From their 8-Sep-2009 8k:

It is anticipated that the Reverse Split and Authorized Share Reduction will be effective on the close of business on September 22, 2009, subject to the receipt of necessary regulatory approvals.

http://biz.yahoo.com/e/090908/spng.ob8-k.html

That was the 8k reducing the a/s to 900M. 3 days later they changed it to 300M.