Spongetech Delivery Systems, Inc. (fka SPNGQ)

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SPNG pay a dividend?! u jest? They had $17k CASH per most recent filing!

Cash and cash equivalents $ 17,016

Per the filing: RME buys debt for SHARES MONTHLY or SPNG runs out of CASH and FAST..... Now I hear they want to make a dividend as well? lol...

In September 2008, we issued an aggregate of 198,800,000 shares of our common stock to RM Enterprises International, Inc., a related party, in consideration for the conversion of an aggregate of $3,125,492.95 in debt or $0.01572 per share. The control persons of RM Enterprises International are Michael Metter, Steven Moskowitz and Frank Lazauskas, all of whom are directors of RM Enterprises International

In October 2008, w issued an aggregate of 157,003,436 shares of our common stock to RM Enterprises International, Inc. in consideration for an aggregate of $2,501,285.67 in debt or $0.01593 per share.

In November 2008, w issued an aggregate of 54,150,006 shares of our common stock to RM Enterprises International, Inc. in consideration for an aggregate of $692,789.96 in debt or $0.01279 per share.


AND REMEMBER > THE "PROFITS" IN THE SPNG FILING ARE NOT CORRECT - THEY ARE BOGUS - SPNG is using a form of off balance sheet tranaction to HIDE the TRUE Operating expenses and cost of goods sold. (IMPO=COOKTHEBOOKS?)

PER THE FILING:

During the last two fiscal years, we received some essential services at no charge due to certain business relationships established by our management. Had we been charged for all these services, these costs would be reflected as expenses in our financial statements. Some of the areas where these services were provided include, but are not limited to, art work, packaging, design and consulting. We anticipate that this arrangement will continue at least through the current fiscal year if and when this arrangement ceases, we expect that our costs of doing business will increase.


http://www.sec.gov/Archives/edgar/data/1201251/000114420409002030/v137081_10q.htm