[SPNG]: Promoter "z4lover" makes more false and misleading statements

This time on the definition of Issued Shares, Outstanding Shares and Treasury Shares.

It seems that this promoter of scam comany Spongetech Delivery Systems, Inc. has absolutely no concept of what these categorities of shares mean:


http://investorshub.advfn.com/boards/read_msg.aspx?message_id=40535623


Posted by: z4lover
Date: Friday, August 14, 2009 3:35:38 PM
In reply to: Kitt Proimos who wrote msg# 165438
Post #165446 of 165580

Yes.

Outstanding shares are shares that have been issued. Issued and outstanding are shares that are held. Further stock that is in the company's treasury, is considered Outstanding but not issued and outstanding.

Now lets look at what happened

The company put out a PR saying that they returned x shares to the company's treasury thus reducing the Isussed and outstanding down to aprox 700 million.

Then when the 10q came out and the company fully canceled these shares prior to the 10q to reduce not only the issued and outstanding but the Outstanding to 700 million. The people said they lied.

Yet they claim that the issue at hand is they are saying the company didn't put the stock in the company's treasury, of which they have no proof for. Only a misunderstanding of what issued and outstanding is. Assuming that because the Outstanding shares didn't go down that the company was lying, even though it wouldn't go down for returning the shares to the company's treasury.

This has been twisted endlessly to try to confuse the naive of what really happened.




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