Spongetech Delivery Systems, Inc. (fka SPNGQ)

[loanranger]

Excerpts from an analysis of revenues, performed by a firm hired by SPNG (apologies for my inability to provide a link):
I, Laureen M. Ryan, pursuant to 28 U.S.C. § 1746, declare as follows:
1. I am a Managing Director with Alvarez & Marsal, Dispute Analysis & Forensic
Services LLC (“A&M”). At the request of counsel, A&M performed a review of certain sales
documentation for the period June 2009 to April 2010 for Spongetech Delivery Systems, Inc.
(“Spongetech”) and for the period July 2009 (subsequent to acquisition by Spongetech) to April
2010 for Dicon Technologies LLC (“Dicon,” and together with Spongetech, the “Companies”).
XXXXXXXXXXXXXXXXXXXXXXXXXXXXXX
4. Dicon provided a schedule of sales by customer for the period July 9, 2009
through April 30, 2010 which reflects that its net sales totaled approximately $6.3 million.
Attached hereto as Exhibit 1 is a summary of Dicon sales by customer for the period July 9, 2009
through April 30, 2010. For the period June 1, 2009 through April 30, 2010, Spongetech
provided a schedule of sales by customer which reflects that Spongetech’s net sales totaled
approximately $1.3 million. Attached hereto as Exhibit 2 is a summary of Spongetech sales by
customer for the period June 1, 2009 through April 30, 2010. Accordingly, the Companies’ total
net sales for the period June 1, 2009 through April 30, 2010 (the “Current Period”) reflected on
these schedules is approximately $7.7 million.

The above was submitted "in support of Defendant Spongetech’s Opposition to
Plaintiff’s Motion for Preliminary Injunction, Asset Freeze, and Other Relief" and posted to Pacer last night.

For the record, Nasdaq.com shows the following, indicating that it was posted there on 9/1/09:
"SpongeTech(R) Delivery Systems, Inc. Reports Record Booked Orders of $70 Million during the First Quarter of FY '10" (Edit note:equals June thru Aug '09)
http://www.nasdaq.com/aspx/company-news-story.aspx?storyid=200909011130bizwire_uspr_____bw6137&title=spongetechr-delivery-systems-inc-reports-record-booked-orders-of-70-million-during-the-first-quarter-of-fy-10

Reading the above PR will show exactly how the company (and its officers) got to where it is today.