Spongetech Delivery Systems Inc (fka SPNGQ)

[no_BS_plz]

Having been on the SOX implementation team at the publicly held company that I work for, I can assure you that "kicking the tires" at Dicon will take a minimal amount of time, and that the only books an auditor would check would pertain to Tangible Assets (ie: PP&E and inventory).

They would check the physical inventory or accounting system showing how the inventory is accounted for, applied depreciation, etc.

I assure you Dicon could practically fit inside of one of our board rooms (figuratively speaking), and PWC spent a total of two weeks doing all necessary due diligence for Sarbanes Oxley requirements on all of our assets, both here and abroad.

I didn't know a "barn was burning" with Dicon, but that can be handled in a couple of hours by checking the debt assumption by SpongeTech and nothing more to it than that, especially given the fact it was a cash transaction.

They also checked our internal audit process, lasting a total of about a week, but as the nature of the critical path in doing a project is concerned (which is the longest time to complete simultaneous tasks within the overall project), our complete audit with PWC lasted less than a month and that included our overseas operations.

If you have facts that differ from mine, I would be happy to debate the subject.