Replies to post #313831 on Spongetech Delivery Systems Inc (fka SPNGQ)

[themanfromboston]

selling receivables?

oh, ok......

and as I have shown, it is costing the hurting company 7 times more by selling those receivables with a factoring arrangement, than if the money was borrowed from a bank by a credit worthy company:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=49617184


thanks for playing and please don't forget to come back and play some more

wrong again - sorry to do this to you - but you are mixing apples and oranges

company A is not borrowing money

they are selling receivables

[pantherj]

However you wish to describe what they are doing, it is costing them 4.67%/mo for the money, 56% on an annualized bassis.