Replies to post #257035 on Spongetech Delivery Systems Inc (fka SPNGQ)

[RAP1]

Mingy, I like the idea, but how could they gave a dividend to all of SPNG holders when they only got 5M+ shares?

[TEX]

for round numbers, latest count, use 100,000.

Multiplied by say, .05 = $5,000

[yellowdog1]

Yep. gonna be fun. Woof.

[jojothecircusmonkey]

yes naked shorts puking.....I like it...also I saw NSShedgefunds testing the trading waters toward the end yesterday.....playing with their 500,000 share blocks......wondering how much its gonna hurt....go spngy

[pantherj]

Mingy, IF there were a naked short, and IF RME decided to give all the GFGU shares as a divvy, simple math shows that it would make no difference whatsoever. There are only 5 MM shares for a divvy, which is only one share for every 144.4 in the SPNG OS .... even IF the OS is only 722 MM. The GFGU PPS is .35 this AM. So a divvy would only raise the theoretical value of a SPNG share by .0024. Do you really think any shorts would go into a panic over 2/10ths of a cent per share?

In reality it is even worse. The GFGU shares are restricted and only have "piggyback" rights. In other words, it would be difficult, if not impossible, for a small share holder to ever get their GFGU shares unrestricted. In essence the GFGU shares are worthless to individual retail SPNG share holders. The expense alone would be prohibitive.

Its all a moot point anyway, as there are no NSS shares, air share or counterfeit shares; and RME is NOT going to GIVE anything to anyone. But now you know, that if all your fantasies were credible, a divvy still would not work.