Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Virtual Drew]

PIKE : NO SAVING GRACE!

This is why I called it a "theoretical scenario"! I never stated it was 100%. It's a theory, which means without more information, I made a lot of assumptions, applied numerous suppositions and mixed in a little conjecture, topping it of with common sense!

Pike is not here to help! No one but himself!

upper11, thanks for bringing it back up. I created that theory to try and think "outside the box" of: Pike's here to save us all!

Here is why Pike is "No Saving Grace"!

He can buy every single share out there! Doing so does not address SpongeTech's core problems! How does Pike's share acquisition address any of the following:

SEC Suspension (Oct 09)
- All previous PRs and filings in question

Late & Required SEC Filings
- FY08 10K: LATE!
- FY09 10K: LATE!
- FY10 10Q, Q1: LATE!
- FY10 NT 10Q, Q1: NON-EXISTENT!
- FY10 10Q, Q2: LATE!
- FY10 NT 10Q, Q2: NON-EXISTENT!
- FY10 10Q, Q3: Due April 15, 2010

Ousted from OTCBB to the Greys
Wells Notice
Numerous Lawsuits
Over 1 year old Share Structure
Gagged Transfer Agent
Numerous Increases to A/S

IT DOESN'T!