Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Christy from Google]

You're wrong Harvard. Yes the SPNG "Cash Flow" statement was misrepresented, no big deal (just a reclass adjust). But there are no grants and the "40% stock" was properly acounted for on the Balance Sheet and Income statement IMO, but I didn't do an audit.

No offense, you're way off Dude. A Non-Issue for me. Just another example of sloppy disclosure in the 10k. Thats it. They just passed paper for services, and these services were properly expensed in the income statement. D&D may have made some mistakes, but he's not stupid. (I HOPE)

Now RME may have a problem, But I don't care about them.

The only thing I have ever cared about is "cash flow" and all the related problems. ("WOW No debt", YIPPEE)

Just look at P&Gs financing package. It covers 32% to 40% of their annual revenue. Not SPNG!!!!!!