Replies to post #280927 on Spongetech Delivery Systems, Inc. (fka SPNGQ)

[Fatmonkey]

NY Daily News also has a story. 2 bounced checks

[spongeboy]

The Mets were to be paid with 900,000 Pink Panther Sponges, but refused payment.

[Rav4James]

Aaa Good Ole Kaja!

Now why doesnt that surprise me that he would be involved in yet another sledge hammering of SpongTech.

Now lets see how this turns out and the other BS going on for our favorite"Americas Cleaning Company" SPNG!

Good luck to SPNG....! "They really do need it"

[JTORENCE]

Wonder if Pike's DD missed this. I am long but think The fat lady is starting to get in tune for her song.

Pissed and upset on LONG ISLAND.

JT

[tim3458]

WOW!!!...not good!!

[spongebob_poorpants]

Kaja is such a POS...just because SPNG bounced a check, she feels the need to educate us on what a Wells Notice is? GFY, Kaja.

[TEX]

ooops...o my--guess they weren't all prepaid.

Here's the Daily's piece, much shorter...maybe differing accounts of the amounts (just skimmed it):

http://www.nydailynews.com/news/2010/01/14/2010-01-14_mets_sue_advertiser_over_400g_curveball.html

[Virtual Drew]

How much longer is SpongeTech's MASSIVE Super Bowl <snicker>, going to last?



When will ALL the claims from the various sports venues begin reporting other bounced checks begin?

May favorite lines in the NYP:

SpongeTech initially made its installment payouts to Citi Field on time, but fell behind in October 2009, shortly after the Securities and Exchange Commission suspended trading in SpongeTech's stock for failing to file financial results with the SEC.
NYP Full Article

If they actually had reached Metter & Co., the companies response could have been something like:

"The NY Mets should go after the SEC! They took our ability away to pay our contract with the NY Mets. We were suspended you know. We couldn't sell stock! How else are we supposed to make money"

Let's spin this one into a positive.

See you in court! (with yet ANOTHER lawsuit!!!)

[scion]

On February 4, 2009, we entered into an advertising agreement with the Queens Ballpark Company ("QBC") to advertise our cleaning products and for certain advertising rights during all games (including practices or workouts) played by the New York Mets during the term of the Agreement. The term of the agreement commenced on the opening day of the 2009 Baseball Season and expires on December 31, 2011. The Agreement may be terminated by (A) either party if (i) the other party materially breaches the representations and warranties contained in the Agreement, (ii) the Mets permanently relocates to another facility as its primary baseball facility; (B) by QBC, (i) if the Company fails to pay any payments under the Agreement, (ii) if the Company files for bankruptcy or is adjudicated bankrupt or insolvent or files a petition or seeking reorganization or otherwise under any applicable bankruptcy or insolvency statute, (iii) the occurrence of any factor which in the judgment of QBC will cause an adverse reflection upon the goodwill, reputation or integrity of the Mets and its associates.

SPNG.OB < SEC Filings for SPNG.OB < Form 10-Q on 20-Apr-2009
http://biz.yahoo.com/e/090420/spng.ob10-q.html

[Risicare]

The end is nigh