Spongetech Delivery Systems, Inc. (fka SPNGQ)

[rdwild]

I do not have inside information. I'm suggesting this is one very plausible reason for GFGU to rescind the deal. If I was running a start-up I would not want to get entangled in investigations and legal issues that could cost potentially destroy my company. As an entity doing a deal with SPNGE, GFGU has done due diligence and has more insight into SPNGE and more information on potential risks of doing business with them. There must be something very concerning to GFGU to rescind a investment deal after it has been announced and 8k'd, particularly in this environment where venture capital financing is not easy to come by. When one asks why would GFGU do this, it is logical to conclude that they are afraid of what might occur if they were to proceed with SPNGE.

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That thought would hold water if SpongeTech was the only company they had done this with, but you will notice in the news release there was another company.

Rod