Spongetech Delivery Systems, Inc. (fka SPNGQ)

[tturner617]

Wadi--per FU's 8k--all the shrs went to RM. Looks like RM and SM are going to eat the bad investment.

On November 6, 2009, we entered into a Subscription Agreement with R.M. Enterprises International, Inc. for the purchase of 5,250,525 shares of our common stock in exchange for $1,750,000 which was previously paid to us. The shares issued to R.M. are restricted. R.M. was also granted piggy-back registration rights. The issuance was exempt under Section 4(2) of the Securities Act, as a transaction by an issuer not involving any public offering.