Replies to post #314125 on Spongetech Delivery Systems Inc (fka SPNGQ)

[loanranger]

Jeff,
I'm sorry to interrupt. The fact is, absent information supplied from someone within the company or the tax preparers themselves, no one KNOWS whether the Spongetech 2009 IRS1120 was filed. Some folks have a manner of speaking, however, that might lead people to believe that they KNOW "something" when in fact they are merely concluding that "something" based on their experience and their version of what they feel is logical.

If you have some time on your hands, the thread starting at the following link may give you a better feeling of what I'm trying to say:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=47499156

I certainly don't know whether the SPNG return was filed and I'll bet that your guess is good as anybody else's. But no matter what we might think, I doubt either of us would say "The SEC have the "FINANCIALS". Via 1120 Corporate tax return filed on Feb 15th, 2010" just because it made sense to us. Others apparently would.



PNG

[Christy from Google]

LOL but I could actually prepare the SPNG Federal Corporate return for 2009, assuming the 02/28/09 numbers from the 10Q were the final numbers for the year.

Outside the state and local income tax accruals, its a very easy exercise. A properly prepared 10k, or Annual Report, has the return return included except its just not in the IRS format A very easy analysis, if one is comfortable with IRS business return formats (1120, 1120S and 1065).

Another example of the sloppy 10q work, is the lack of the state and local tax accruals.

Hopefully the IRS has the return and the related tax due. Same with the states. If NOT, Mosky is facing a very serious problem. I'm sure the "NY state revenue" guys are looking for unpaid taxes right now.

And "reasonable cause" is just a HUGE joke. Just because his own lawyers are advising whatever, Mosky and Metter control the situation.