Replies to post #295599 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[overachiever]

Mingy, if they only had 350 million shares outstanding, why did they raise the A/S to 3 billion and raise their class b holdings to offset 2.8 billion common?

Sometimes you have to use a little bit of deductive logic when you are attempting to decipher the actions of fraudsters and con men. Anyone who doesn't do that is nothing but a mullet asking to be fished in. Before the SEC suspension and the grey sheet debacle, the average daily volume here exceeded 170 million shares per day. It's not rocket science, bud.

[Karmasaur]

Mingy, my point is that the best "ammo" of those that attack longs (3 billion O/S) is useless, as it could all be bought back for cheap.


And if the O/S is 500 mil, taking it to 300 mil would be super cheap.