Spongetech Delivery Systems, Inc. (fka SPNGQ)

[caltrader]

GFGU said they would pay it back plus interest.

GetFugu Rescinds Investment Transactions With Spongetech Delivery Systems and Vanity Events Holdings

2009-09-24 06:00 ET - News Release

LOS ANGELES, Sept. 24, 2009 (GLOBE NEWSWIRE) -- GetFugu, Inc. (OTCBB:GFGU) www.getfugu.com, the revolutionary new method of accessing the Internet through mobile phones, announced today that it has notified Spongetech Delivery Systems, Inc. and Vanity Events Holdings, Ltd. that it has rescinded the previously announced financing arrangements with Spongetech and Vanity under which they would invest an aggregate of $5,000,000 in GetFugu.

To date, GetFugu has received only $1,750,000 of the proposed $5,000,000 from these investment transactions. GetFugu has informed Spongetech and Vanity that it will not accept any further funds and that it will return the amounts received to date, plus accrued interest, as soon as it is able.