Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

veg,
p.F9 of same 10Q

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 nine months ended February 28, 2009, six customers, SA Trading Company, US Asia Trading, Dubai Export Import Company, Fesco Sales Corp., New Century Media and Walgreens, accounted for 99.4 percent of sales.

http://sec.gov/Archives/edgar/data/1201251/000114420409021409/v146656_10q.htm