According to Spongetech's chart used in their Noble Financial Equity Conference presentation, Spongetech claims that in a 9 month period ending 2/28/2009 they had -- $31,000,000 in Revenue
- a 20 times increase in Revenue over the same YTD period
- 20% EBITDA
- Soaring Revenue and Profitability
Lets see what the Shareholders got -
- May 28, 2008 PPS closed @0.044 ---(peaked on June 9, 2008 @o.o56) - A/S = 420,000,000
- February 28, 2009 PPS closed @0.0126 ---(bottomed on March 16, 2009 @ 0.006) - A/S = 1,250,000,000 --- March 10, 2009 A/S = 1,555,000,000
- Over 190% Increase in Authorized Shares
- Over 70% Decrease in PPS
I really should make a new chart but why bother, this one is a real SPNG chart ending on March 16, 2009 @0.006 and it contains real A/S counts,,, The Facts are the Facts People, you can't deny them. During the above mentioned 9 month time period, the A/S rose and the PPS sank.
So let me get this straight -Spongetech gets ---
- Increased Revenue 20% YOY for 9 month time period to $31,000,000
- A 20% EBITDA
Shareholders get ---
- Over 190% Increase in Authorized Shares
- Over 70% Decrease in PPS
Yeah, that sounds about right for Spongetech Delivery Systems, Inc.
Now all we need to do is to wait for the Reverse Spilt and we are Game, Set, Match!!!!!!
