Spongetech Delivery Systems Inc (fka SPNGQ)

[patchman]

SD.

1. D&T are not with SpongeTech. They have not even started and will not start until all filings are up to date. They have won a contract they bid for but to date have never opened a single book at SpongeTech. They did not run an audit of SPNG before accepting teh contract, they simply received an RFQ and responded to it with a proposal.

2. The PR you cite is clear. "The major customers cited in the SpongeTech’s financial statements for the fiscal third quarter of 2009 are all current and active customers of the Company." And that filing cited that three customers accounted for 83% of their business. I would be seriously concerned if NOBODY can locate these companies. I would likewise be seriously concerned in that the NY Post's investigation into these companies came off information provided directly by SpongeTech themselves.