Spongetech Delivery Systems Inc (fka SPNGQ)

[pantherj]

Wowser! That's the death knell, and we can be very certain that the Trustee is not going to violate the terms and try to off load the dead inventory.

Spongetech provided the Trustee with a letter from Nickelodeon which was sent to and received by Spongetech on May 7, 2010 wherein Nickelodeon purported to terminate the license agreement pursuant to which these sponges were manufactured. The letter further states that the Debtor can no longer manufacture or sell any product manufactured pursuant to a Nickelodeon license."