Replies to post #196554 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[ID Supermoney]

I read somewhere over the last few weeks, that they lose 1933 loopholes as of June 1, 2009.

When sales go over $50,000,000.00 anually!

Not sure though!

ID

[pennypacker]

Wadi, I'd appreciate your take on these questions:

1. What is the purpose of buying $4M in GetFugu? Is it in the form of restricted stock or preferred or other? Why invest in such a longshot, upstart company in the first place? The $4M sure seems better used for our own company right now (advertising, D&T bills, production, etc)

2. Why 300M and not 9M A/S after the 1:100 reverse split? Is this to prevent a hostile takeover, merger or other reasons?

3. Is the 10K due by COB 15 Sept or risk being delisted to a pickie?

4. Is Bill Young still the PR guy or do we have another firm representing us now?

5. What is a realistic timeframe for uplisting to NASDAQ? Do you think SPNG can pull it off prior to year end?

6. Do we get inflows from institutional investors right after the reverse split and/or sometime after NASDAQ uplisting?