Spongetech Delivery Systems, Inc. (fka SPNGQ)

[starfire]

SPNG is moving FORWARD.

The audio: http://tinypic.com/m/a0jo85/2
Below is my best effort to transcribe precisely what SM said.

———end transcript
QUESTION Tell us an overview
Well Spongetech Delivery Systems got started about 10 years ago. When we saw what Swiffer was doing, and the wipes were doing, and, and, realizing that uh, you know I saw my wife, my mother using these wipes and these uh, Swiffers and they basically only used them one time and threw em out.

So I wanted to come up with a way, and somebody showed me how to use this new delivery system. Ah, that you can use this sponge or this foam that it's actually made out of, this super absorbent polymer, that allows you to clean your car, your pet, your child multiple times without having to throwing it away right away.

And what we developed was a way to get rid of products-out-of-a-bottle, and save the environment and just put everything into the sponge. And that happened about 10 years ago.

QUESTION Tell us about the legal issues
Basically, to get it down pat, as simply …some of the legal disputes are because the, the SEC starting investigation and, uh, is, I guess, ah, moving forward with it. And uh we are ..answered pretty much all the questions that they requested.
But, for all intents and purposes its more like dumping on. Nobody's won any of these lawsuits, nor anybody – most of these are just frivolous cases. But they figured that "you know what".. they just didn't wanna be associated with it.
But in the meantime, they owe us.. Some of these people owe us money, they owe us time, they owe us air and we will continue to make sure that, that for our shareholders, we get all the benefits that we deserve out of these deals.
And uh, the NY Post has made a case out of bringing this to the forefront. We recently sued them for over a hundred million dollars. For all intents and purposes, that is the reason why we are able to uh, move forward, because we are able to ship more products, do more products do whatever we have to.

QUESTION Tell us about the products
I think the main important thing is we're now in over 45000 stores here in North America. We've added from, uh, children's products to, to pet products, to kitchen and bath products, and now we we're doing medical sponges. We're in.. we're in some of the biggest retailers.. you can, you can now find us in every corner of America today. And uh, and North America, and probably throughout Europe and South America. And basically, we're gonna be, we.. Our objective from last year's Noble Investors' conference is to bring out new products every month, and we've been doing that. We started two years ago with one auto product. Today we have over 40 products on the line, and growing every month.

And the most I think will be the medical products. As uh, we are able to get into the medical field, I think that'll be our biggest development with suntan lotion, and uh, taking care of bedsores, and bandaids and everything else.

QUESTION Tell us about the future
We expect to see a lot more in the future. And we expect to, you know like I said, at least have like 5 or 6 more products here in the next year. And one every month for the rest of the year.
———end transcript

These paraphrasings are my take-aways to chew on:

[SEC starting investigation and moving forward with it]

[that is the reason why we are able to move forward]

[now we're doing medical sponges]
New medical sponge or bandaid coming out soon?



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