Replies to post #313732 on Spongetech Delivery Systems Inc (fka SPNGQ)

[musicalchairs]

Just about when I lost faith the subject of factoring came up. Now the gorilla is in the room. Spin it anyway you want, if a company can get a factor to buy in then its real. And if it can survive with money at this price then, as the song goes, it can make it anywhere.

[nilremerlin]

Your math is fuzzy. The percentage is still 4.67% regardless of the length of time. 4.67% per month, per year, per 100 years. You're not supposed to multiply the percentage by the number of periods...that's totally misleading.

nilremerlin

[Welcome2Pinkyland]

4.67% on every $30,000 - what is so hard to understand?

i give X $30,000 in receivables

X gives me $28,600

the deal is done - nothing more to calculate