Replies to post #5733 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Carpedeim357]

Stock you can see by sales for qrt and A/R at year end they are doing find collecting A/R. When sales are growing A/R will always go up each qrt it has to if sales growing. This company has a great 10K for sales, profits, EPS and strong balance sheet. As far as future they have said they have signed deals to ship this year over 30 million going into this new year. They have signed more deals since. Here is one fact auditors issued audit with no going concern statement. How rare is that and shows how healthy this company is for first year of good profits and growth!

Here are facts when it comes to are numbers real?

1. 10K year end results are required to be "audited". The reason for that is so investors and bankers can trust the results. So they are per gaap and can be compared for EPS on same basis as all stocks. They where audited and came in after audit better then management said months before. So why does anyone think when what they told that stood up under an audit is not real? I know bankers look to see if they can trust company projections or unaudited results. So when audit shows what they where told is same after audit they trust management from then on. They don't trust until they see that audit. Why should we be any different?


2. We complain about dilution? Fact they have growing EPS after dilution. EPS went up not down because of that funding. There job is to increase EPS and they did. They did the only way they could for now and its management risking millions not some 3rd party toxic funder. Management who agreed to let SPNG buy share back shares at no gain until 2010. Be happy it is management and they have stake in success so we have a growing EPS. Most penny stock just never seem to see a growing EPS or any EPS. You like ones with no growth in profits and EPS but fewer shares buy them. Since they don't make money you will see dilution that never ends and get no results. They will never be able to get bank lines until they shows profits. SPNG has great profits and now will get bank lines.

I suggest people stop making up numbers when 10K is audited and the only valid numbers. Next will be 10q.