Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Christy from Google]

I thought you said January Mr gortarama. But I'll take April 29th. It doesn't really matter anymore. It appears to be over. The Knicks, Mets and CBS (and God knows who else) can force SPNG into a very serious legal situation. They can force SPNG into Bankruptcy.

You see sales, and I see legal and accounting fees for an unending list of lawsuits. Services were provided and bills were not paid; promises were made and promises were broken; just an endless stream of BS. End of story.

This "cash flow" problem is a result of not having an adequate financing package to support the production cycle, inventory and AR. The Mutt Boys cried this tune 3 times publicly. In addition, they issued a very serious warning to the shareholders that this "tight cash flow" was real and could bring down the company. It appears it has, and there's nothing the shareholders can do but watch (pray and hope also).

SPNG is a Private Company, thus normal shareholders have no rights. No way the M&M boys are walking away from annual $$$$$$$$ compensation packages. They have nothing to lose, and they'll go down with the ship. Its their only option. They are gambling with your COLD CASH.

JMHO of course. And lets not forget the SEC. Go Yankees.