Replies to post #213181 on Spongetech Delivery Systems Inc (fka SPNGQ)

[polsih1]

Simultaneously with the Reverse Stock Split, at the Effective Time, the aggregate number of shares of stock of all classes which the Corporation shall have authority to issue is 965,000,000, consisting of 900,000,000 shares of Common Stock, having a par value of $0.001 per share, 25,000,000 shares of Class B Stock, having a par value of $0.001 per share, and 40,000,000 shares of Preferred Stock, having a par value of $0.001 per share.


from the exhibit. filed with Delaware

[alien42]

the Delaware SOS is as official as you are going to get around here and they say the A/S is 3 Billion

[papaul]

Read these statements:

"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")."

"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."

Anticipated R/S & Share Reduction means we have a heck of a lot more than 900-million O/S correct? And since the R/S was canceled we have no A/S reduction correct?

Am I missing it?

papaul