Spongetech Delivery Systems, Inc. (fka SPNGQ)

[harvard homeboy]

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Because Spongetech has never had an audit done before, for one thing, and there is a ton of prep work that goes into performing an audit these days, given the compliance burden imposed by Sarbanes Oxley, among other things. And, second, the financial statments Spongetech has incorporated into its most recent Form 10-Q don't comply with GAAP accounting standards, as anyone who's ever taken a class in Accounting 101 can confirm.