Spongetech Delivery Systems, Inc. (fka SPNGQ)

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SPNG News SpongeTech(R) Delivery Systems, Inc. Hits Grand Sl...

Thursday, September 18, 2008 1:43 PM

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News for 'SPNG' - (SpongeTech(R) Delivery Systems, Inc. Hits Grand Slam! SpongeTech(R)'s Auto and Pet Sponge Sales Hit a Grand Slam over the Past Few Days)


NEW YORK, Sept 18, 2008 /PRNewswire-FirstCall via COMTEX/ -- SpongeTech(R)
Delivery Systems, Inc. (OTC Bulletin Board: SPNG) is pleased to announce that
this past weekend the company started an aggressive marketing campaign utilizing
the combined values of Howard Stern, Chris Russo, and NASCAR Radio on SIRIUS
Satellite Radio. As a result of this, coupled with our aggressive TV
advertising, SpongeTech(R) has booked in the past five days over $1,000,000 in
gross internet sales. We are extremely excited about how we are positioning and
marketing our product, and feel very strongly that we are on our way to another
record quarter. This, combined with our on hand orders that will be shipped this
year, could bring our total revenue in excess of $35,000,000, with a
proportionate EBITDA to last year's P/L.

Our Stock Buyback

With such a volatile stock market comes tremendous opportunity. In light of
that, coupled with the change in the SEC shorting rules, the Board has decided
to increase our corporate stock buyback in the open market from 25,000,000
shares to 50,000,000 shares effective immediately. We have to date purchased in
the open market over 10,000,000 shares thus leaving 40,000,000 more shares to
buy. We will continue to communicate with our shareholders, and we thank you all
for your support.

Michael L. Metter SpongeTech(R) CEO

Steven Y. Moskowitz SpongeTech(R) COO

For more information, please contact Investor Relations at 1-877-SPONGE-T,
and/or visit the Company's website at: www.spongetech.com .

About SpongeTech(R) Delivery Systems, Inc.

SpongeTech(R) Delivery Systems is a development stage company, which designs,
produces, and markets a unique line of reusable cleaning products for household
use. These sponge-based products utilize SpongeTech(R)'s proprietary, patent
(and patent-pending) technologies involving hydrophilic (liquid absorbing) foam
and polyurethane matrices. The Company's sponges are specially configured with
an outer contact layer and an inner matrix, the latter of which comes pre-loaded
with specially formulated soaps and wax that are released when the sponge is
wetted and applied to a surface with minimal pressure. The Company's current
product line is designed for Car Care and Uncle Norman's(TM) Pet Sponge,
however, SpongeTech(R) is currently exploring additional applications for its
technology including an anti-bacterial, kitchen and bath cleaner, as well as a
unique 'foaming' bath sponge for children.

"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of
1995: The statements in the press release that relate to the Company's
expectations with regard to the future impact on the Company's results from new
products in development are forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. The results anticipated by any
or all of these forward-looking statements may not occur. Additional risks and
uncertainties are set forth in the Company's Annual Report on Form 10-KSB for
the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB
for the first quarter ended March 31, 2006. The Company undertakes no obligation
to publicly release the result of any revisions to these forward-looking
statements that may be made to reflect events or circumstances after the date
hereof, or to reflect the occurrence of unanticipated events or changes in the
Company's plans or expectations.





Contact:

SpongeTech(R) Delivery Systems, Inc.

Investor Relations:

Bill Young, 1-877-776-6438

[e-mail] or [e-mail]



The Investor Relations Group

212-825-3210

Investor Relations: Rachel Colgate or Michael Crawford

Media Relations: Steven Melfi / Lynn Granito



SOURCE SpongeTech Delivery Systems, Inc.



URL: http://www.spongetech.com

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KEYWORD: New York

INDUSTRY KEYWORD: AUT

OTC

SUBJECT CODE: PET

Source: Comtext Market News