Replies to post #308523 on Spongetech Delivery Systems Inc (fka SPNGQ)

[SteveF]

You've skipped a lot of the story. The AS was 3 billion, then the company announced a 1-100 reverse split coinciding with a reduction of the AS to 900 million. However, DE lowered the AS prematurely (giving the promoters a 3-week pumptard orgasm). When the R/S was canceled the AS promptly went back up to 3 billion.

[1jk1]

bs,nice explanation pretty sure you will have to break that down in lehmans terms.But i do understand where you are going with and i am in your camp.tia glta

[eliaman]

the market or hedge funds likely assumed the increase in the A/S and dumped counterfeir shares shares ino the market expecting to cove, just the opposite occured IT NEVER HAPPEND!! THUS, they are trapped!!

[puttzy3]

thanks but i'll go with deleware's numbers for a/s before i would use a number from moskowitz, you see that is exactly what he wanted you to think that the a/s was 900m when deleware had it at 3b on sept 21, 2009 and no changes were made!

Designation/
Stock Class No. of Shares Par Value/
Share No. of
Shares Issued Total
Gross Assets Asset Date (MM/DD/YYYY)
09/21/2009 COMMON 3,000,000,000 .001000
CLASS B 28,000,000 .001000
PREFERRED 40,000,000 .001000
Total
08/13/2009 09/21/2009 COMMON 2,750,000,000 .001000
CLASS B 28,000,000 .001000
PREFERRED 40,000,000 .001000
Total
06/24/2009 08/13/2009 COMMON 2,500,000,000 .001000
CLASS B 25,000,000 .001000
PREFERRED 40,000,000 .001000
Total
05/19/2009 06/24/2009 COMMON 2,000,000,000 .001000
CLASS B 20,000,000 .001000
PREFERRED 40,000,000 .001000
Total
04/13/2009 05/19/2009 COMMON 1,800,000,000 .001000
CLASS B 20,000,000 .001000
PREFERRED 40,000,000 .001000
Total
03/10/2009 04/13/2009 COMMON 1,500,000,000 .001000
CLASS B 15,000,000 .001000
PREFERRED 40,000,000 .001000
Total
12/12/2008 03/10/2009 COMMON 1,250,000,000 .001000
CLASS B 15,000,000 .001000
PREFERRED 40,000,000 .001000

[pantherj]

That is absolutely incorrect. The AS was only temporarily shown as 900mm by the Delaware SOS because of the confusion surrounding the announced Perverse Split. Since the Reverse Split was scrapped, the actual AS remained, and was always, 3bb.

There was an earlier post that detailed the sequence of increases in AS and Class B shares with their Super Voting rights. It was quite revealing and confirmed the AS was steadily raised to 3bb and never, ever retreated from that number. it also confirmed that tracking the increase in Class B as a means of projejecting the OS was 100% accurate. Bashers were right. Longs have been lied to by SPNG.