Spongetech Delivery Systems, Inc. (fka SPNGQ)

[patchman]

badshah, SpongeTech is under an SEC investigation for wrongdoing. The claims against SpongeTech parallel those of the comopanies you offer. I believe each of those principles have lost their legal battles. As it relates to SpongeTech, business operations are in question as they were with the company you refer. Can you supply evidence of SpongeTech business Operations beyond that included in regulatory filings.

Specifically from the last SpongeTech Filing:

Revenue Recognition

Sales and services are recorded when products are delivered to the customers. Provision for discounts, estimated returns and allowances, and other adjustments are provided for in the same period the related sales are recorded. In instances where products are configured to customer requirements, revenue is recorded upon the successful completion of the Company’s final test procedures. For the six months ended November 30, 2008, three customers, SA Trading Company, Dubai Export Import Company and New Century Media, accounted for 82.9 percent of sales.


Can you locate these customers that represent 82.9% of their business operations?

TIA