[SPNG]: New prediction on common shares outstanding for Spongetech Delivery Systems, Inc.

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As SPNG increases Authorized Common Shares to 2.5 billion from 2.0 billion, the_worm06 predicts that the SPNG common shares outstanding have been increased to


more than


2.2 Billion common shares outstanding





here is the previous prediction by the_worm06:

http://snipurl.com/kxyjy


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[SPNG]: the_worm06 prediction on common shares outstanding for Spongetech Delivery Systems, Inc.

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the_worm06 predicts that Spongetech Delivery Systems, Inc. (SPNG) has now increased its outstanding common shares from the 723 million figure of April 16, 2009 stated in the latest 10-Q filed with the SEC by SPNG ( http://snipurl.com/ktyme ) to:


more than 1.9 BILLION common shares outstanding

as of today's date




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[ONCP]: How a promoter defends the fraudulent actions of scam company "141 Capital, Inc."

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Pay attention as promoter "milo3" attempts to defend the fraudulent change of terms of a convertible preferred structure by the scam company 141 Capital, Inc. (ONCP).

First, scam company ONCP announced the terms of a conversion of common stock to preferred stock of ONCP and allowed ONCP common stockholders to decide whether they wanted to convert to the preferred stock.

The preferred stock was structured as a convetible security, convertible back into common stock. Once stockholders converted into preferred stock, ONCP fraudulentlhy changed the terms of the preferred stock by reverse splitting the preferred shares by a significant amount upon the conversion forcing the stockholders to take a big hit on the number of common shares that they would receive upon the conversion.

You might remember that this "milo3" character is the same promoter that has been defending scam companies SLJB and LBWR and is part of the "Stock Promoter - Scam Company Matrix" (http://snipurl.com/kqtfr).



http://investorshub.advfn.com/boards/read_msg.aspx?message_id=38984454


Posted by: milo3
Date: Tuesday, June 23, 2009 6:07:37 PM
In reply to: nicehit who wrote msg# 14064
Post #14069 of 14070

nicehit, I'm not saying what management did is fair. Fair would have been to do what it stated in their conversion offer without adding to it after the deal. However, things unforeseen to management occurred that caused - in their best opinion - the absolute necessity to attach an addendum (RS of convert' prefered) to their stated offer.
I don't like what happened either. I converted 65% of my xxis and had 35% RS that subsequently fit nicely into a thimble. Fortunately I bought more oncp after the xxis RS and sold recently near the top. I'm still in the hole thousands of dollars. You can bet I don't like it !
What's done is done....and gone. I'm focused on the future with a better understanding of the management team's weaknesses and strengths.





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[SPNG]: the_worm06 initiates research on Spongetech Delivery Systems, Inc.

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Initial stock price prediction by the_worm06 for Spongetech Delivery Systems, Inc. (SPNG) is:


$0.01 per share





[note: the stock price of SPNG closed at $0.1351 per share today, June 17, 2009, the last trading day before this stock price prediction by the_worm06]

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