Replies to post #154696 on Spongetech Delivery Systems Inc (fka SPNGQ)

[harvard homeboy]

<< How did you assume a negative amount? >>


I didn't assume anything. The numbers speak for themselves. But please, don't take my word for it, okay? Like I said, just take Spongetech's most recent Form 10-Q for the period ending Feb 28, 2009 to the CPA of your choice and ask the following question: "How much cash did Spongetech take to the bank for the 9 months ending Feb 28, 2009 from the company's normal, ongoing, day-to-day business activities?"

See what he says. The number isn't the $4.9 million figure that Spongetech reported as Net Income for that reporting period. It's a negative number, like I said, and it's big.

But ask your CPA that question -- it really shouldn't take more than 3 minutes max for him to answer it, and probably less.