Spongetech Delivery Systems Inc (fka SPNGQ)

[harvard homeboy]

IMO its a three year amortization of their comp package, on the date they had "construction reciept" (2008 ~ 2010) and fully taxable to them individually in 2008. Just not material.


christy,

I'm not talking about their compensation packages, which are paid in stock. I'm talking about the hundreds of millions of shares of stock SPNG sold to RME, Moskowitz and Metter at 40% discounts to fair market value.

All of those option grants should have flowed through the income statement and didn't. And the dollar amounts we're talking about are absolutely material. The compensation arrangements -- from memory 4 million shares to Moskowitz and Metter, 2 million shares to Lazauskas -- are, as you suggest, immaterial.