Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

The company was carrying some prepaid advertising on the last published balance sheet.
Is it not reasonable to think that the source of same might be prepayments for ad space and that similar prepayments might've rendered the due diligence of the Cav's credit manager a little less diligent than usual?
Previous contracts have been filed as exhibits to 10Q's in the past. And while the terms were given confidential treatment, there was enough detail to make it apparent that the company was extended terms.......at least in the cases of the Yankees and Mets.

Things may have changed.