Replies to post #172145 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[spongeboy]

And the award for best post of the day goes to post 171986

[miami_vice]

Soooo, they go and get the 4th largest accounting firm in the world?

Good logic.

[TigerTrader83]

hahaha nice. I suppose all these so called 'problems' between SPNG and R&H were sent to you in an email in which the sender asked to remain nameless so you cant provide any proof of them?

[CYRXorbust]

can you lend us your insight on the AS reduction confirmation? some have stated on here (and even provided a forgery) that the OS was north of 2 billion but today's AS is actually only 900mm.. sure this is great news correct?

[dmans]

Objective observer? Hardly. Not to mention your are taking a lot of liberty with your "facts" that are pure speculation on your part.

[OldTymer]

harvard homeboy, you just embarrassed yourself beyond belief...

LOL. Wow, can you ever shovel it!

(You do have proof of this, right?)

1. Related party transactions and the auditor's insistence to increase transparency related thereto, confronting Moskowitz's insistence that everything has been disclosed that needs to be disclosed;

(Didn't you yourself say that no one collects 100% of the A/R? I believe you did. So setting up a reserve is bad?)

2. Setting up a reserve against bad receivables, which are really, really bad when it comes to those on the books from places like Russia and South America;

(I thought a couple of knowledgeable people here already dismissed your GAAP scenario)

3. Cleaning up the cash flow statement so that it actually has some congruence with economic reality, as opposed to the clearly non-GAAP compliant nonsense on there now where cash inflows from stock sales are shown as "operating cash flows" lol;

(Last I heard, their products, as a whole, were selling very very well. Lots of reorders)

4. Writing down the value of the inventory, since it's already in the process of being written down in the marketplace and, like most inventory sitting on the shelves is depreciating, and rapidly so;

(You actually spoke with someone at Robinson? They told you this? And you didn't post it? Shame on you. lol)

5. Robison's insistence that they need more time to complete the 10-K past the Aug 31 deadline, versus Spongetech's insistence that the 10-K needs to be delayed forever;

(Wow, you verified this, too? Or is this just more dribble?)

6. Problems Robison is having getting back those pesky confirmation letters from places in Russia and South America, which is gumming up the works and slowing things down to a crawl;

(This is the best one yet! Dicon shut it's doors? No, not really. They were purchased by a private investment group in 2007 and went private, breaking away from the H.H. Brown Shoe Company. The money man behind the investment group was a guy named Matt Selvin. I'm surprised for a guy who claims to know so much, you know so little. This post reminds me of that commercial, when the guy says: "Wish you were somewhere else?" LOL)

7. Problems Robison is having with confirming balances on Dicon's books. After all, and as we all know, Dicon had shut its doors back in 2007, and the first thing to go was the debits and credits guy since if you have a failing business what do you need to keep the books in order for while you're imploding?;

[Spinosaurus]

harv: Old arguments, tired, ineffective more now than before. No one believes anything you are writing. You have NO facts to back up anything you say.

You have no idea what you are talking about re Russia/So. America bad debt reserves.

Inventory is flying off the shelves, literally, according to COO. There is no inventory which needs to be written. Orders are taken, shipped, A/R, thereafter converted into cash.

You know NOTHING about Robison's discussions with SPNG mgmt., deadlines, everything you say about Robison is pure BUNK, BS, no factual basis to anything at all.

You should be ashamed using these old, ridiculous arguments. A definite sign the end is near for you shorts, time to cover, time to experience the MOASS. Time for SPNG to move up to NASDAQ.

[Smallville]

They always planned to hire D and T but they were unable to get the 10K out in time and the company didn't want to file late. Robison has an impeccable reputation and it was very important for SPNG to silence all but the insane and hired help for the shorts.
Good try Sykes. I give you a B for creativity.

[Revenger]

Your logic is mind numbing. So youre saying that Robison and SpongeTech are at eachothers throats because SPNG is trying to cover and hide stuff from them so they dont file it on the 10k. So if that were true, why in the world would they hire one of the BIG 4 to do the FY10 report??????

Again, it makes no sense and your argument is ridiculous and unfounded. More lies from board members.

This coming from the same people who did NOTHING BUT BASH ROBISON when we announced them as our auditors for FY09 a short time ago. AND NOW they are the greatests auditors out there, a real stand up organization, only because now it works in your favor in a twisted and corrupt argument, that, simply put, IS A FLAT OUT LIE.

This is an amazing day in SPNG land!