Replies to post #327433 on Spongetech Delivery Systems Inc (fka SPNGQ)

[scion]

e. Sales Force.

The Trustee has made the sale of inventory one of his top priorities at this time. The Debtor advises that it had numerous sales representatives throughout the United States at one time, some of which were employed by Spongetech and some of which were independent sales representatives. The Debtor further advises that one of its few remaining employees has been on the road actively attempting to sell product. The Trustee has also been advised that certain of the independent sales people are owed commissions and it is unclear at this point whether they will sell additional Spongetech goods. The Trustee has finally been advised that one former Dicon salesman may be in breach of his employment agreement with Dicon and may be attempting to sell competing products to Spongetech customers. As of the filing of this Interim Report, the Trustee’s primary contact on sales efforts has been Steven Moskowitz. The Trustee will continue to evaluate the sales efforts as well as to assess the inventory remaining to be sold.

Doc 69 PDF file
http://viewer.zoho.com/docs/hchi4

[loanranger]

The landlord asserts it is owed approximately $150,000 in unpaid rent.

"On January 6, 2009, we entered into a revised lease agreement with LBJ Realty Co. for office space at 43 West 33rd Street, Suite 600, New York, New York 10001. The agreement grants 800 square feet of additional office space to the property under the lease entered into on December 3, 2007. The term of the revised lease stays the same as the original term that began on February 1, 2008 and expires on January 30, 2011. Under the revised lease starting in February 1, 2009, we will pay $5,250 in monthly rent and 45 percent of the electric bill for the floor per month."
http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=6346743

That is one patient landlord and/or an awful lot of electricity.