Replies to post #247130 on Spongetech Delivery Systems Inc (fka SPNGQ)

[El_Jefe42]

Something else interesting in the Form 3 instructions ...

Who Must File
1.(ii) ... as determined by voting or investment control ...

If I interpret this right, a person other than a director would have to own > 580M shares in order to be required to file the Form 3.

Class B = 28,000,000 x 100 votes = 2,800,000,000 
 Common = 3,000,000,000 x 1 vote = 3,000,000,000 
                     Total votes = 5,800,000,000

and 10% of that = 580M

Does this look right? If so, Furth would have to own a bunch more than claimed to have to file Form 3.

Perhaps only the outstanding would be counted?