Spongetech Delivery Systems, Inc. (fka SPNGQ)

[starfire]

patchman, I was not looking for answers!! Facts can be gotten only after rigorous due diligence which may/can happen under chap 11. Until then all of the responses are just assumptions inclusive of the OS as there are glaring blunders made by the TAs.

Quote:1. what is the intrinsic value of SPNG
--------- Dicon, Licensing Agreement with HHBrown That agreement is null in the bankruptcy and a new agreement would be required of new operators. No guarantee that will ever happen.
--------- Licensing Agreements with Viacom, Marvel, Disney, etc They are only as good as the product you can sell. To date, those sales, with all that advertising, is nominal at best. Not enough to turn a profit at the Spongetech level.
--------- Retail Outlets & Sales How has that worked out will all that free advertising? Take away Spongetech longs and Spongetech buying out their own products, what really do you have?
--------- Plant, facilities & equipment. Bankrupt. Don't think they walk away with a fully clean slate and workers wanting to come back without a cost associated with it. Can't stiff them on past paychecks and then think they will come back running. That Plant was operating at a loss.
--------- Warehouse, facilities & equipment Really. where and at what value?
--------- add anything that I may have left out
--------- Liabilities .. business --- Huge
--------- Liabilities ... Legal --- Even bigger.

2. what is the OS ..after a forensic audit. 3 Billion. Spongetech and Transfer Agent have both said the same.

3. Write up a business plan. Find an investor first. business plan for Dicon has never been profitable. Berkshire cut their ties based on failing business plan. Spongetech sponges were high priced novelties with limited interest.