Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Christy from Google]

LOL but I could actually prepare the SPNG Federal Corporate return for 2009, assuming the 02/28/09 numbers from the 10Q were the final numbers for the year.

Outside the state and local income tax accruals, its a very easy exercise. A properly prepared 10k, or Annual Report, has the return return included except its just not in the IRS format A very easy analysis, if one is comfortable with IRS business return formats (1120, 1120S and 1065).

Another example of the sloppy 10q work, is the lack of the state and local tax accruals.

Hopefully the IRS has the return and the related tax due. Same with the states. If NOT, Mosky is facing a very serious problem. I'm sure the "NY state revenue" guys are looking for unpaid taxes right now.

And "reasonable cause" is just a HUGE joke. Just because his own lawyers are advising whatever, Mosky and Metter control the situation.