Replies to post #314572 on Spongetech Delivery Systems Inc (fka SPNGQ)

[toxicdebtspiral]

If you are looking at the wikipedia definition of it you will get the impression it's a one time event. In practice it is a revolving line.

You are correct. All anyone has to do for an example is look at their first factoring contract which was with Westgate Financial. It is in the public record in the SEC filings for SPNG.

[Zorax]

If you are looking at the wikipedia definition of it you will get the impression it's a one time event. In practice it is a revolving line.

~!~ Everybody's correct in one way or another... it's not black and white one way...depends on the institution you do business with...