Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Christy from Google]

Audit Risk Alert - 10s of millions on a handshake agreement. Thats what I call a major management internal control. As a shareholder I just feel so good all over. I can't wait the hear the details on WHY Dicon needed a $250,000 line of credit after advancing $10 to $20 Million between Feb 28th and and July 9th.

I'll bet Mosky's internal auditing team and one man Audit Committee were all over that handshake agreement. So much to be thankful for, a stock promoter doing handshake deals. I wonder if the SEC reviewed the related PR and 8K, to determine if internal controls were lacking in the control of the cash advanced to Dicon. I always wondered if there was a subsequent cover-up of the missing cash and inventory. Just wondering, because the $250,000 makes no sense. Never did find out exactly what was on the Dicon Balance Sheet that was purchased.

Just my opinion, but I'll bet the one man Auditing Committee was all over that transaction. The SPNG assets are safe. WHY???? The internal controls, of course.