Replies to post #313855 on Spongetech Delivery Systems Inc (fka SPNGQ)

[harvard homeboy]

FACTORING IS GOOD!!!!


What is SPNG's cost of funds in the factoring agreement? Something above 20% per annum, and probably a lot higher right?

Now, what are SPNG's pre-tax profit margins based on the last set of financial statements the company submitted to the SEC? Something in the area of about 20% or so, right?

Hint: If you think SPNG is going to make up the spread based on sales volume, you're off track.

GLTA