Replies to post #233078 on Spongetech Delivery Systems Inc (fka SPNGQ)

[wuyanks]

correct, assuming reported revenues are real, and the shares were distributed legally. glty

[weeblewobble09]

Except that a huge number of longs, at least as of that date, believed the o/s to be 722M or less. Had the true o/s come out before that date the PPS would have dropped well below 5 cents. Teh.

[patchman]

The stock is trading under a presumption of 722 Million shares and a business model creating $50 Million in revenues. if the 722 million is 2.7 Billion the PPS is overvalued. If the $50 Million is $5 Million the PPS is overvalued. If the O/S is 2.7 Billion and the Revenue is $5 Million it is severely overvalued.

This is why the SEC has halted trading. because you can't accurately trade the stock with the suspicions in the company, revenues, and O/S.