Spongetech Delivery Systems, Inc. (fka SPNGQ)

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Nice spin crodad, but that is NOT what it says....

"In instances where" products are configured to customer requirements, revenue is recorded upon the successful completion of the Company’s final test procedures.

It CLEARLY says these custom sponge orders are booked as revenues even before the product is produced and fully shipped, the minute 1 test sponge is approved , they book the entire purchase order as sold and shipped, when in fact it could be a year or more until they produce and ship the entire ordrer, and most likely even longer unmtil they get paid in some cases.... .