Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

spongeboy,
Your post is actually the footnote section from the following (please pardon the alignment):

PRINCIPAL STOCKHOLDERS

The following table sets forth certain information with respect to beneficial ownership of our common stock as of the date of the prospectus by each stockholder known by us to be the beneficial owner of more than 5% of our common stock, each of our directors and executive officers and all executive officers and directors as a group.

Shares of Common Stock
Beneficially Owned(1)(2)
-----------------------
Name Title Number Percent
------------------ --------------- ----------- -------
RM Enterprises International,
Ltd. (3) 12,000,000 63.2%
1350 Broadway, Suite 210,
New York, New York 10018

Joel Pensley (4) 3,666,000 19.3%
211 Schoolhouse Road
Norfolk, CT 06058

Rubin Family Irrevocable
Stock Trust (5) 2,555,568 13.5%
25 Highland Boulevard
Dix Hills, New York 11746

Michael Metter (6) President -0- -0-%
One Tinker Lane and a Director
Greenwich, CT 06830

Steven Moskowitz (7) Secretary -0- -0-%
1350 Broadway, Suite 210, and a Director
New York, New York 10018


Jerome Schlanger 985,314 5.2%
Suite 307
414 Eagle Rock Avenue
West Orange New Jersey 07052

Frank Lazauskas (9) A Director 883,654 4.7%
51 Niagara Street
Newark, New Jersey 07105


Kenneth Hubbard (10) 985,314 5.2%
19 Booth Court
Millbrook, New York 12545

Carole Klein (11) 985,314 5.2%
18 Aspen Way
Morristown, New Jersey 07960


Thomas Monahan Treasurer and -0- -0-%
3638 Oxford Avenue Chief Financial
Riverdale, New York 10463 Officer

Colebrook, Inc. (12) 3,000,000 15.8%
25 Highland Boulevard
Dix Hills, New York 11746

Officers and Directors 883,654 4.7%
(4 persons)


The above, filed on 3/16/04, can be found at:
http://www.sec.gov/Archives/edgar/data/1201251/000126210604000025/0001262106-04-000025-index.htm


If there are any lawyers reading this maybe they can answer a question. I'm reasonably certain that a certifying accountant, or an employee thereof, cannot hold the shares of a publicly held client due to conflict of interest considerations. Does the legal profession have a similar rule? I see that Mr. Pensley appears to have been both attorney of record and a shareholder at the time of this filing.

TIA