I think it's pretty clear.
" the Company has retained Deloitte Touche LLP ("Deloitte") as the Company's independent registered public accountants for the May 31, 2010 financial statement audit. Deloitte's engagement will become effective upon the filing of the Company's Form 10-K for the year ended May 31, 2009. Deloitte has already begun working with SpongeTech's management team on the transition from the existing auditing firm that is completing the annual report for FY '09 that ended May 31, 2009. This is another step towards securing SpongeTech's future as a world class organization."
This is one of the top firms and are taking over after the 10k comes out... but has started to work with the company already...
Everything I say is in my own opinion do not buy sell or hold based off what I have to say.
