Spongetech Delivery Systems, Inc. (fka SPNGQ)

[evac171]

That,s not a good thing about the OS, Hmmmm.

But the biz looks pretty good

Here’s some thumbnail calculations- feel free to suggest any changes .
But this business looks very profitable, even right now in the early stages.

Current Ratio 7.4
Quick Ratio 3.5
Gross Profit Percent 86%
Return on Equity (May07-Feb 08)-19.6%
Return on sales- (May07-Feb08)=15.6%

Calcs:

Current Ratio= Curr assets/ Curr Liabilities
2131880/289947= 7.4
Quick Ratio= Cash+Investments+curr receivables=/Curr Liabilities
19774+998,319/289,947=3.5

Gross Profit Percentage=Gross profit/net sales rev=
1,107,682/1,282,704= 86%
Return on Equity= Net income/Average equity (May07-feb08)
= 197,150/{(2,162,869+(158,519)/2)}
=197,150/1,002175=19.6%
Return on Assets- Net Income+interest expense/Average Total Assets
= 197,150+0/((2452816+110366)/2)
197150/1281591= 15.3%

Looks outstanding, really. For being at this very early stage, they are making great money. If the business plan continues forward, they should easily grow by leaps and bounds this year. gla