Spongetech Delivery Systems Inc (fka SPNGQ)

[loanranger]

" Something doesn't add up here. Doesn't make sense that they would let SPNG go this long while still owing that kind of money."

O&T......
Completely agree. There is NO obvious reason for them not to have filed, which would have been using the proper method, resulting in a significantly lower tax. The idea that they would accept an extra ~$150,000 in tax liability for 2008 just to avoid disclosing o/s numbers as of 5/31/08 (when filed on 3/1/09) doesn't cut it. And it doesn't cut it for 2009 either, given that the filing itself, which would reflect the 5/31/09 o/s(whatever that is), isn't due for another couple months.......their only obligation for 2009 so far is for estimated payments.

I'm waiting for someone to tell me what we're missing.