Replies to post #223773 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[BadRonald]

The hits just keep on coming...nothing we did not know already though.

[freemarkets4ever]

Ouch. Well this certainly won't help the share price.

[Hedge Starz]

geeez....they don't need to appeal....they just need to get it done....are we wasting time and manhours on appealing

[riverandfold]

This is silly.....why even PR this...everyone already knew this was the rules. Were they required to PR it?

Just curious....not compalining too much cause I just picked up a ton of dirt-cheap shares.

[Fastmandoo]

THE SPNGE IS DONE.... ANY LONGS LEFT??

[Pennyprof]

Meh, SPNGE is dirty in my opinion, they received this on the 25th and they decide to tell us now...

Gotta wonder what we're gonna hear next week....a week late AGAIN.

[MagShoe]

Filing Date: 10/2/2009 Form Type: 8-K

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549


http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001144204%2D09%2D051369%2Etxt&FilePath=%5C2009%5C10%5C02%5C&CoName=SPONGETECH+DELIVERY+SYSTEMS+INC&FormType=8%2DK&RcvdDate=10%2F2%2F2009&pdf=
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FORM 8-K

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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 2, 2009

SPONGETECH DELIVERY SYSTEMS, INC.
(Exact name of registrant as specified in its charter)



Delaware 333-100925 54-2077231
(State or other jurisdiction
of incorporation) (Commission File Number) (IRS Employer
Identification No.)



10 West 33 rd Street, Suite 518
New York, New York 10001
(Address of principal executive offices and Zip Code)


Registrant's telephone number, including area code: [phone]




Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))




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Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.


On September 25, 2009, Spongetech Delivery Systems, Inc. (the “Company”) received a letter from the Financial Industry Regulatory Authority (“FINRA”). The letter states that, pursuant to NASD Rule 6530, the Company is required to file with the Securities and Exchange Commission its Annual Report on Form 10-K for the year ended May 31, 2009 (the “Annual Report”) by no later than October 16, 2009. The Company’s shares of common stock will not be eligible for continued quotation on the OTC Bulletin Board if the Company fails to comply with this requirement. As previously disclosed, the Company is filing its Annual Report late because its former auditor, Drakeford & Drakeford, LLC, had its registration revoked by the Public Company Accounting Oversight Board.


If the Company does not request a hearing with a FINRA Hearing Officer, or file its Annual Report by October 16, 2009, it is anticipated that the Company’s shares of common stock will be delisted effective October 20, 2009 as set forth in the FINRA letter. On October 2, 2009, the Company requested an appeal hearing with a FINRA Hearing Officer. In addition, the Company and its auditors are using their best efforts to complete the audit and file the Annual Report by October 16, 2009.




Item 9.01. Financial Statements and Exhibits.


Exhibit No. Description

99.1 Press Release, dated October 2, 2009.







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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


Spongetech Delivery Systems, Inc.



Date: October 2, 2009 By: /s/ Michael Metter
Michael Metter
Chief Executive Officer







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EXHIBIT INDEX


Exhibit No. Description

99.1 Press Release, dated October 2, 2009.








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October 02, 2009 03:30 PM Eastern Daylight Time




SpongeTech® Delivery Systems, Inc. Receives Delisting Notification from FINRA and Requests Appeal Hearing

NEW YORK--( BUSINESS WIRE )-- SpongeTech® Delivery Systems, Inc. (the “Company”) “ The Smarter Sponge ™ ” , (OTCBB: SPNGE), today announced that on September 25, 2009, the Company received a letter from the Financial Industry Regulatory Authority (FINRA) stating that, pursuant to NASD Rule 6530, the Company is required to file with the Securities and Exchange Commission its Annual Report on Form 10-K for the year ended May 31, 2009 (the “Annual Report”) by no later than October 16, 2009. If the Company does not comply with this requirement, the Company’s shares of common stock would not be eligible for continued quotation on the OTC Bulletin Board. The Company is requesting an appeal hearing with FINRA regarding the determination of the Company’s security listing eligibility.

The Company previously announced that the delay of its filing Form 10-K for FY ’09 was due to the Company’s former auditor’s difficulties with the PCAOB (Public Company Accounting Oversight Board). As a result, the Company’s financial statement for the 2008 fiscal year is being re-audited and the financial statement for the 2009 fiscal year is being audited by the Company’s new auditing firm, Robison, Hill & Co. The Company and its auditors are using their best efforts to complete the audit and file the Annual Report by no later than October 16, 2009.

After the submission of the 10-K/A for fiscal 2008 and the 10-K for fiscal 2009 year, Deliotte & Touche LLP will assume responsibility for the audit of the Company’s financials beginning with the fiscal 2010 year that began June 1, 2009.


About SpongeTech® Delivery Systems, Inc.


SpongeTech® Delivery Systems is a company which designs, produces, and markets unique lines of reusable cleaning products for Car Care, Child Care, Home Care and Pet Care usages. These sponge-like products utilize SpongeTech®'s proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponge-like products are pre-loaded with specially formulated ingredients such as soap, conditioner and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech® is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech® Delivery Systems, Inc. intends to globally brand its products as The Smarter Sponge™ .


Safe Harbor Statement


Under The Private Securities Litigation Reform Act of 1995: The statements in this press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the fiscal year ended May 31, 2008 and the Company's Quarterly Report on Form 10-Q for the third fiscal quarter ended February 28, 2009. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.


Contacts


SpongeTech® Delivery Systems, Inc.
Investor Relations:
Bill Young, 877-218-8393
[e-mail] or [e-mail]
or
Investor Relations:
Corporate Evolutions, Inc.
Susan U, 877-482-0155
[e-mail]



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