Replies to post #49 on DN's Angels

[Willboat]

Interesting post from SPNG

SpongeTech(R) Delivery Systems, Inc., President and CEO, Michael L. Metter; Clarification Statement to Our Shareholders and All Interested Parties
SpongeTech(R)'s President and CEO Releases Statement
Aug 12, 2008 9:00:00 AM
View Additional ProfilesNEW YORK, Aug. 12 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC Bulletin Board: SPNG) President and CEO of SpongeTech(R), Michael L. Metter, states, "The last audited financials for our 2007 fiscal year, which ended May 30, 2007, shows very clearly that we did under $100,000 in revenue. The 2008 year that has just ended May 31, 2008, which we will be reporting on shortly, will show in excess of $5.3 million and will be very profitable. Respectfully, what bank, or investment-banking source, would lend us significant capital to grow our business with such a short track record without major dilution, especially with the horrible credit crunch that the American economy has suffered over the last eight months? The officers, directors, and key investors of SpongeTech(R) have lent the business, interest free, approximately $5 million. SpongeTech(R), as our numbers will confirm, will grow rapidly during the 2009 fiscal year, and we are right on target to meet or even exceed projections in excess of $30 million. We are growing SpongeTech(R) for all our shareholders and, as we have stated in a recent 8K Filing, we expect to buy back the stock that has been issued for financing and advertising purposes within 18 months. These shares are definitely restricted and cannot be sold. I hope this answers some of the questions that have been directed to the company. I want to thank all shareholders for their continued support." Sincerely, Michael L. Metter, President and CEO SpongeTech(R) Delivery Systems, Inc.

For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: www.spongetech.com.