Replies to post #274735 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Gastrodamas]

I remember a cheap company that sounds exactly the same , a mini Me. EESO

[overachiever]

In other words, they are scamming con artists who defrauded investors. Don't soft soap what these crooks have done to the investing public. They belong in prison for financial fraud.


A matter of a little creative accounting. Management getting a tad too far ahead of themselves. Too aggressive relative to the issuance of securities to RM Enterprises. To maintaining the parent company as entirely debt free. Equally overly aggressive relative to the manner in which revenues have been recognized. Additionally, the way in which current assets have been accounted for. Management being desirous of both attracting a fitting buyout offer and precipitating a near-term move upstairs. Securing a senior listing.

[cowtown jay]

Hi, stox

Always good to hear from you.

You have been the staunchest defender of management. Any failure of management to live up to the level of expectations you had of them, no matter how slight, is only a reflection on them. It is unfortunate that there are those who do not realize that. They would be better served to see that here you are, yet, and that you have addressed the activity of management as you have in this post.

For me, it has ALL been about the 10Q for Q1, and going forward from there. In that regard, I was disappointed to see that those numbers have been adjusted. We will just have to wait to see the extent to which they were adjusted.

Settlement of the Wells Notice now to the forefront. I'm looking forward to it. The strongest of all possible foundations for moving "onward and upward" in an unquestioned way.

Thank you, stox.

jay

[tturner617]

Jives with my expectations.....this interp is kinda what I have expected for the last 3 months or so--just thought it would have been sooner. NOW, I expect some real numbers that are NOT materialy diff from past PRs...........time will tell.