Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Carpedeim357]

Again the revenue recognition is very simple here. Ship and book the sale. The first thing any audit will require and so basic not even Drake missed doing this. No audit does.

YOu ask for support of sales to all the top 10 or 20 customers. That includes copies of invoices, proof of shipping and the big one proof of payment.

All those outside US clients where there for fiscal 08. So clearly when no revenue adjustments on 08 10K from what June 08 pr told us for sales they are real.

Right down to auditors seeing proof of shipment to them and proof of payment from them.

Make up again theories but this is accounting or auditing 101. You just do not miss doing what is required to verify sales. Just to basic and simple.