Spongetech Delivery Systems Inc (fka SPNGQ)

[1jk1]

The recent press reports regarding SpongeTech are inaccurate. The major
customers cited in the SpongeTech's financial statements for the fiscal
third quarter of 2009 are all current and active customers of the
Company.*** We believe that a number of documents cited in press reports
about the Company are Internet forgeries being used by short sellers and
stock speculators to undermine the integrity of the Company and profit
from the adverse publicity. Statements in the press that SpongeTech must
"restate" its financial statements are wrong. As a result of our former
auditor's difficulties with the PCAOB (Public Company Accounting
Oversight Board), our financial statements for the 2008 and 2009 fiscal
years are being re-audited, not restated, by our new auditing firm,
Robison & Hill & Co. After the submission of the 10-K for fiscal 2009
year, Deliotte & Touche LLP will assume responsibility for the audit of
SpongeTech's financials beginning with the fiscal 2010 year that began
June 1, 2009.
http://www.tradingmarkets.com/.site/news/Stock News/2547780/

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