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Date : 07/30/2008 @ 9:45AM
Source : PR Newswire
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SpongeTech(R) Delivery Systems, Inc., CEO, Michael L. Metter, Announces Corporate Update to Shareholders and Investors!
CEO, Michael L. Metter Announces Corporate Update!
NEW YORK, July 30 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNGOTC:-OTC:News) (BULLETIN BOARD: SPNG - News) CEO Michael L. Metter, is pleased to announce a Corporate Update. Management is very pleased with the acceptance of the company's products in the market place. Revenues for the first half of the company's current first quarter (June 1 thru July 15) are approximately $2,400,000 dollars and they are estimating sales of approximately $5,000,000 for the company's full first quarter ending August 31, 2008. The company's current booked orders, for all products are approximately $30,000,000. This includes both car care and pet care products.
The company's advertising campaign seems to be working well with advertisements now appearing in all 50 states as well as in Mexico and Canada. For every dollar we are investing in advertising and on infomercials, we are generating well over the industry norm of 1.6 dollars for each dollar invested. The company is also pleased to announce that over 70% of online purchases are re-ordering products. Building "brand recognition" of the SpongeTech's name through the company's existing products will prove to enhance further national brand recognition as they plan to roll-out new products this fall.
We are now in the process of dividing SpongeTech(R) into autonomous operating divisions. This will allow us to better monitor costs as well as product growth and profits. Each operating division will have a product manager reporting to the senior Chief Operating Officer. These divisions will include Car Care, Pet Care, Health Care and Beauty Products (Puddle Pals), Bio Pharma, and Household Cleaning. SpongeTech(R)'s Car Care products are now available in retail stores, such as Bashas' Supermarkets, and Rite-Aid in the Southwest, Win-Dixie Supermarkets in the South, Price Chopper thru out New England and Wal-Mart South America.
We are now in the final stages of negotiation and product packaging acceptance with some major "big box" retailers. The purchase contacts between these retailers and SpongeTech(R) prohibits us from mentioning their names until the products are in place on the store shelves. Further announcements will be made at that time should these sales be completed.
Our accountants are preparing audited financial statements for our last fiscal year, which ended on May 31, 2008. We expect these results to be released on time. We are financially healthy and are well prepared to continue our aggressive growth.
CEO, Michael L. Metter commented, "I would like to thank our dedicated employees for their superb efforts and hard work during this time of explosive growth and high product demand." CEO, Michael L. Metter went on to further comment, "I would also like to thank our loyal shareholders and investors for their continued support as we strive to enhance shareholder value."
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/ .
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech's(R) proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
DATASOURCE: SpongeTech(R) Delivery Systems, Inc.
CONTACT: Investor Relations: Bill Young of SpongeTech, +1-877-776-6438,
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Date : 08/04/2008 @ 9:45AM
Source : PR Newswire
<< Back
SpongeTech(R) Delivery Systems, Inc. Receives Second Re-order in Excess of $4,250,000 Patented Sponge Products from Dubai!!
SpongeTech(R) Re-order of 210,000 Auto Care Kits Sponges from Dubai and a New Order of Test Unit of Our New Kitchen and Bath Sponges
NEW YORK, Aug. 4 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNG) (BULLETIN BOARD: SPNG) is pleased to announce that the Dubai Export Import Company, in Dubai, has a second re-order and it is for 210,000 units of our patented Auto Care products and a NEW order of 10,000 test units of SpongeTech(R)'s new kitchen and bath sponges, which is the company's newest product line in the household cleaning product division. This translates to an order in excess of $4,250,000 from this company. This order will be paid in full prior to shipping. We expect to ship this order in its entirety by December 15, 2008.
SpongeTech(R)'s COO, Steven Moskowitz said, "We are very pleased with the third and biggest order of 210,000 units. The first in November was 11,000 units, the second was 55,000 units in April, and now this one. What a show of positive response to our products in Dubai! This provides us an indication as to the success we will be seeing in the launching of our new product lines from our other divisions. We are confident that our customers will order our other SpongeTech(R) products as they come to market. SpongeTech(R) is on its way to becoming a worldwide household brand."
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/.
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for house-hold use. These sponge-based products utilize SpongeTech(R)'s(R) proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge gets wet and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact:
SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
DATASOURCE: SpongeTech(R) Delivery Systems, Inc.
CONTACT: Bill Young, Investor Relations, SpongeTech(R) Delivery Systems,
Inc., +1-877-776-6438, , or
Web site: http://www.spongetech.com/
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Date : 08/04/2008 @ 3:54PM
Source : PR Newswire
Stock : (SPNG)
Quote : 0.034 -0.002 (-5.56%) @ 3:59PM
SpongeTech(R) Delivery Systems, Inc. Wants to Remind Everyone that They Are to Be Featured on 'The Balancing Act' Television Ser
SpongeTech(R)'s New Uncle Norman's(TM) Pet Sponge will Air on the Daily Morning Talk Show called "The Balancing Act".
NEW YORK, Aug. 4 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNG) (BULLETIN BOARD: SPNG) would like to remind everyone that SpongeTech(R)'s Uncle Norman's(TM) Pet Sponge will be featured on "The Balancing Act," a daily morning talk show original, half-hour series for working women on Lifetime Television. This innovative new patented technology only offered by SpongeTech(R) will give audiences across the country an opportunity to see Uncle Norman's(TM) Pet Sponge, the ultimate pet care product that provides up to 8 baths per Pet Sponge. This Pet Sponge has the shampoo, conditioner, and odor inhibitor built into the sponge. The pet sponge that helps you bathe your pet!
The segment will air tomorrow, August 05, 2008, at about 7:15am EDT/6:15am CDT on Lifetime Television, and features special guest, Lauren Martinez, the SpongeTech(R) on-camera spokesperson, educating consumers across the country on its patented one step delivery system that is used by the Uncle Norman's(TM) Pet Sponge with our built-in technology.
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/ .
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech(R)'s(R) proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge gets wet and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.
About "The Balancing Act":
The Balancing Act, hosted by Dr. Wendy Walsh, seeks to empower women seeking personal and professional growth while managing a career, family and home. The show's segments are solution-rich, in a "news-you-can-use" style with branded storytelling dedicated to creating new opportunities and ideas for women.
For more information on the show log onto http://www.thebalancingact.com/
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
DATASOURCE: SpongeTech(R) Delivery Systems, Inc.
CONTACT: Investor Relations: Bill Young, SpongeTech(R) Delivery Systems,
Inc., +1-877-776-6438, ,
Web site: http://www.spongetech.com/
http://www.thebalancingact.com/
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Date : 08/11/2008 @ 10:00AM
Source : PR Newswire
Stock : (SPNG)
Quote : 0.0275 0.0 (0.00%) @ 9:57AM
SpongeTech(R) Delivery Systems, Inc. to Air New TV Commercials for Pet Sponge on National Cable Stations
SpongeTech(R)'s Pet Sponge Commercials to Start Airing Today August 11, 2008, on Cable TV
NEW YORK, Aug. 11 /PRNewswire/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNG) (BULLETIN BOARD: SPNG) has started a new advertising campaign on Cable TV today. Launching two new commercials: one 60-second spot and one 2-minute spot for its Uncle Norman's Pet Sponge(TM). They expect to reach over 100,000,000 homes. The commercials will begin airing today on a variety of cable networks.
COO of SpongeTech(R), Steven Moskowitz, said, "Based on test results by our media company, pet products advertised on these networks with similar schedules have experienced outstanding results. We feel this exposure on National Cable TV will have tremendous impact on our visibility and will help to continue our rapid growth in the pet care and grooming industry. To preview our 2-minute commercial, please click on the following link: http://video.o2mediainc.com/videolib/2008/ids/21339/index.html."
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/.
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech's(R) proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
DATASOURCE: SpongeTech(R) Delivery Systems, Inc.
CONTACT: Bill Young, of SpongeTech(R) Delivery Systems, Inc. Investor
Relations, +1-877-776-6438, or , or
Web site: http://www.spongetech.com/
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Date : 08/12/2008 @ 9:00AM
Source : PR Newswire
Stock : (SPNG)
Quote : 0.027 0.0 (0.00%) @ 9:07AM
SpongeTech(R) Delivery Systems, Inc., President and CEO, Michael L. Metter; Clarification Statement to Our Shareholders and All
SpongeTech(R)'s President and CEO Releases Statement
NEW YORK, Aug. 12 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNG) (BULLETIN BOARD: SPNG) President and CEO of SpongeTech(R), Michael L. Metter, states, "The last audited financials for our 2007 fiscal year, which ended May 30, 2007, shows very clearly that we did under $100,000 in revenue. The 2008 year that has just ended May 31, 2008, which we will be reporting on shortly, will show in excess of $5.3 million and will be very profitable. Respectfully, what bank, or investment-banking source, would lend us significant capital to grow our business with such a short track record without major dilution, especially with the horrible credit crunch that the American economy has suffered over the last eight months? The officers, directors, and key investors of SpongeTech(R) have lent the business, interest free, approximately $5 million. SpongeTech(R), as our numbers will confirm, will grow rapidly during the 2009 fiscal year, and we are right on target to meet or even exceed projections in excess of $30 million. We are growing SpongeTech(R) for all our shareholders and, as we have stated in a recent 8K Filing, we expect to buy back the stock that has been issued for financing and advertising purposes within 18 months. These shares are definitely restricted and cannot be sold. I hope this answers some of the questions that have been directed to the company. I want to thank all shareholders for their continued support." Sincerely, Michael L. Metter, President and CEO SpongeTech(R) Delivery Systems, Inc.
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/.
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech's(R) proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
DATASOURCE: SpongeTech(R) Delivery Systems, Inc.
CONTACT: Investor Relations: Bill Young, SpongeTech(R) Delivery Systems,
Inc., +1-877-776-6438, or
Web site: http://www.spongetech.com/
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Date : 08/12/2008 @ 9:05AM
Source : PR Newswire
Stock : (SPNG)
Quote : 0.027 0.0 (0.00%) @ 9:28AM
SpongeTech(R) Delivery Systems, Inc. CEO Interviewed Live on Steve Crowley's American Scene Radio Show
SpongeTech(R)'s CEO Interview Aired Today on American Scene Radio Show
NEW YORK, Aug. 12 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNG) (BULLETIN BOARD: SPNG) is pleased to announce that its CEO and President, Michael Metter, will be interviewed today on Steve Crowley's American Scene Radio Show at 9:42 a.m. EDT. The interview can be heard live on BusinessTalkRadioNetwork(R) affiliate radio stations streamed on its website, http://www.businesstalkradio.net/. You can find local radio stations by accessing the website, as well. Mr. Metter will be scheduled for future interviews on American Scene, where he will keep listeners updated on SpongeTech(R)'s products and developments.
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/.
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech(R)'s(R) proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
DATASOURCE: SpongeTech(R) Delivery Systems, Inc.
CONTACT: Investors, Bill Young of SpongeTech(R) Delivery Systems, Inc.,
1-877-776-6438, ,
Web site: http://www.spongetech.com/
http://www.businesstalkradio.net/
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NEW YORK, August 12 / PRNewswire-FirstCall / - SpongeTech (R) Delivery Systems, Inc. (OTC: SPNG) (Bulletin Board: SPNG) Der Präsident und CEO von SpongeTech (R), Michael L. Metter, heißt es, " Die letzten geprüften Konzernabschluss für unser Geschäftsjahr 2007, endete der 30. Mai 2007, zeigt sehr deutlich, dass wir es unter $ 100000 bei den Einnahmen. Das Jahr 2008 hat gerade beendeten 31. Mai 2008, das werden wir die Berichterstattung in Kürze, wird zeigen, von mehr als $ 5,3 Millionen und wird sehr profitabel. Respektvoll, welche Bank oder der Investitionen-Banking Quelle, verleihen würde uns erhebliche Kapital, um unser Geschäft mit einem so kurzen Track Record ohne größere Verdünnung, vor allem mit den schrecklichen Kredit Crunch, dass die amerikanische Wirtschaft erlitten hat in den letzten acht Monaten? Die Offiziere, Direktoren, und den wichtigsten Investoren von SpongeTech (R) verlieh dem Unternehmen, Zinsen befreit, rund $ 5 Millionen. SpongeTech (R), wie unsere Zahlen bestätigen wird, rasch wachsen wird während der Geschäftsjahr 2009, und wir sind direkt am Ziel zu erreichen oder sogar übertreffen Prognosen von mehr als $ 30 Millionen. Wir wachsen SpongeTech (R) für alle unsere Aktionäre und, wie wir es in einem kürzlich 8K Einreichung erwarten wir zurückkaufen die Aktie wurde für Finanzierungs-und Werbezwecken innerhalb von 18 Monaten. Diese Aktien sind definitiv eingeschränkt und kann nicht verkauft werden. Ich hoffe, dass diese Antworten auf einige der Fragen, wurden an die Firma. Ich möchte mich bei allen Aktionären für ihr fortgesetztes Unterstützung. " Mit freundlichen Grüßen Michael L. Metter, Präsident und CEO SpongeTech (R) Delivery Systems, Inc.
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Geld macht nicht glücklich, aber es beruhigt.
Und Gesundheit kann man nicht Kaufen.
Geld macht nicht glücklich, aber es beruhigt.
Und Gesundheit kann man nicht Kaufen.
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SpongeTech(R) to Repurchase Shares of Stock
NEW YORK, Aug. 14 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNG) (BULLETIN BOARD: SPNG) announced today that its Board of Directors has approved a repurchase program of the company's free trading shares of common stock. The company is authorized to repurchase up to 25 million shares of stock under the plan, which takes effect Monday, August 18th 2008. The broker of record representing the repurchase program will be R.F. Lafferty & Co., Inc. The company has, issued and outstanding, approximately 400 million shares of stock, of which 267 million shares are restricted shares issued for financing and advertising purposes. The company also expects to repurchase these shares within the next 18 months. Management and the Board of Directors feel strongly about the company and its growth prospects, and feel that a repurchase plan at this time is justified and prudent in its development, as well as enhancing shareholder value. The repurchase plan authorizes management, at its discretion, to repurchase shares in the open market or in privately negotiated transactions as permitted by securities laws and other legal requirements, and subject to market conditions and other factors.
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/ .
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech(R)'s proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect
events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
DATASOURCE: SpongeTech(R) Delivery Systems, Inc.
CONTACT: Investor Relations: Bill Young, SpongeTech(R) Delivery Systems,
Inc., +1-877-776-6438, , or
Web site: http://www.spongetech.com/
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Initiates Active Investor and Media Program
NEW YORK, Aug. 18 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNG) (BULLETIN BOARD: SPNG) , a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for household use, has retained the Investor Relations Group (IRG) to serve as its investor relations and public relations firm in order to achieve greater recognition in the financial and media communities.
"Given the business progress we've made, our recent string of product launches, and the imminent launch of our e-commerce website, now is the time for our company to gain increased visibility," said Michael L. Metter, President and CEO of SpongeTech Delivery Systems, Inc. "We look forward to embarking upon our relationship with IRG, one that will focus on building brand awareness and communicating our technology breakthroughs and business objectives to the investment community, the media, and the public-at-large."
"This is a truly exciting time in SpongeTech's history and we welcome IRG's contribution in facilitating us in achieving our goals," said SpongeTech COO Steven Y. Moskowitz. "With our original SpongeTech for automobiles and Uncle Norman's Pet Sponge already on the market, Puddle Pals for children coming soon, along with future applications for medicinal, anti-bacterial, and kitchen and household uses, SpongeTech is truly positioned to become 'America's Cleaning Company.'"
IRG, a highly recognized, thirteen-year-old New York-based corporate communications firm, will strive to increase SpongeTech's public exposure, communicate the advantages of its product, and explain its high potential growth objectives through a focused campaign. On the investor relations front, IRG will use its proprietary database of investors to introduce SpongeTech to targeted members of the investment community through pre-qualified one-on-one introductions, e-mails to professionals that have opted-in to receive communication, interviews, and traditional outreach. In the public relations arena, IRG will strive to educate audiences of editors, writers, and segment producers of local and national trade and consumer print, radio, online, and broadcast media outlets about SpongeTech's cleaning products and its role in the market.
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech's(R) proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children. For more information, please visit the Company's website at: http://www.spongetech.com/ .
About The Investor Relations Group, Inc.
The Investor Relations Group, Inc. (IRG) offers a full-service corporate communications program designed to suit the many unique needs of public companies. The program utilizes a proprietary, targeted approach to reach institutional investors, analysts, and the media-at-large. For further information, please visit the company's website at http://www.investorrelationsgroup.com/ .
Forward-Looking Statements
This press release contains "forward-looking statements" (within the meaning of the Private Securities Litigation Act of 1995) that inherently involve risk and uncertainties. SpongeTech(R) Delivery Systems, Inc. generally uses words such as "believe," "may," "could," "will," "intend," "expect," "anticipate," "plan," and similar expressions to identify forward-looking statements. One should not place undue reliance on these forward-looking statements. The company's actual results could differ materially from those anticipated in the forward-looking statements for many unforeseen factors. See SpongeTech(R) Delivery Systems, Inc. Form 10-KSB for the fiscal year ended April 30, 2008, for a discussion of such risks, uncertainties and other factors. Although the company believes the expectations reflected in the forward-looking statements are reasonable, they relate only to events as of the date on which the statements are made, and SpongeTech(R) Delivery Systems, Inc.'s future results, levels of activity, performance or achievements may not meet these expectations. The company does not intend to update any of the forward-looking statements after the date of this press release to conform these statements to actual results or to changes in SpongeTech(R) Delivery Systems, Inc.'s expectations, except as required by law.
The Investor Relations Group 212-825-3210
Investor Relations: Rachel Colgate or Michael Crawford
Media Relations: Steven Melfi / Lynn Granito
DATASOURCE: SpongeTech(R) Delivery Systems, Inc.
CONTACT: Investor Relations: Rachel Colgate or Michael Crawford, or
Media Relations: Steven Melfi or Lynn Granito, all of The Investor Relations
Group, +1-212-825-3210, for SpongeTech(R) Delivery Systems, Inc.
Web site: http://www.spongetech.com/
http://www.investorrelationsgroup.com/
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Boasting a biodegradable sponge designed with cutting-edge technology, SpongeTech Delivery Systems continues to make waves with its patented technology - dubbed by market observers as the next thing to hit the market since Brillo and S.O.S took over our kitchen sinks. Spongtech created a sponge that can hold enough soap to wash eight cars - named one of the 7 Best Products at the automotive aftermarket product expo in Las Vegas.
There is no doubt that Spongetech has a huge market; in America alone, the auto aftermarket exceeds $250 billion dollars. According to the Freedonia Group, the auto aftermarket in China will surpass $10 billion by 2011. Its very huge market is even more significant with a total of 71.9 million new automobiles that were sold worldwide in 2007.
Spongetech's patented technology is based on sponges that contain hydrophilic (liquid absorbing) foam polyurethane matrices. These sponges are specially configured with an outer contact layer and an inner matrix, which is loaded with custom formulated soaps and waxes that are released when the sponge is applied to a surface. Its product portfolio comprises specially configured sponges containing an outer contact layer and an inner matrix; children's bath foam sponge with a safe mesh coating, which prevents tearing; and household cleaning sponges infused with anti-bacterial bath and kitchen soaps.
Spongetech's U.S. retail sales for its car care products are coming in strong; the company announced sales are going very well in retail stores, such as Bashas' Supermarkets, Rite-Aid in the Southwest, Winn-Dixie Supermarkets in the South, Price Chopper throughout New England, and Wal-Mart South America; Spongetech is looking to add Kroger's to the list of retailers shortly.
At present, SpongeTech's product line focuses on vehicular cleaning uses. However, the company is applying its patented technology to the development of sponges for additional applications, including sponges with anti-bacterial, bath and kitchen soaps for household uses, as well as a children's bath foam sponge. And with positive response to its products in the retail center, COO Steven Moskowitz said it should make it easier and faster to get the new product lines in, like the Pet Care (Uncle Norman's Pet Sponge) and Beauty Products (Puddle Pals).
Spongetech has started muscling its way into the international arena; at the beginning of August this year, Spongetech announced the Dubai Export Import Company, in Dubai, has a second re-order for 210,000 units of Spongetech’s patented auto care products and a new order of 10,000 test units of SpongeTech's new kitchen and bath sponges. This translates to an order in excess of $4 million from this company!
But big orders and contracts are yet to come - South America has already ordered into the fiscal year 2009 and Spongetech is entering fiscal year 2009 with an order backlog in a $27 million range.
To give an update on SpongeTech's products and developments, CEO and President Michael Metter will be interviewed today on Steve Crowley's American Scene Radio Show.
Company Information
Spongetech Delivery Systems Inc. designs, produces, markets and distributes cleaning products for vehicular use utilizing technology relating to sponges containing hydrophilic, which are liquid absorbing, foam polyurethane matrices. The Company's products can be pre-loaded with detergents and waxes, which are absorbed in the core of the sponge then gradually released during use. The Company licenses the rights to manufacture and sell its products from H.H. Brown Shoe Technologies, Inc. (doing business as Dicon Technologies), the holder of the relevant patents relating to the hydrophilic sponges. The Company has designed and Dicon Technologies is conducting research and development for products using the same hydrophilic technology for bath and home use.
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Date : 08/20/2008 @ 2:10PM
Source : PR Newswire
Stock : (SPNG)
Quote : 0.0325 -0.0025 (-7.14%) @ 4:00PM
SpongeTech(R) Delivery Systems, Inc. Receives Significant Increase of Initial Order Announced in April 2008 for $7,500,000 USD I
SpongeTech(R)'s New 'Uncle Norman's(TM) Pet Sponge' New Spots Currently Airing on National Television is very successful
NEW YORK, Aug. 20 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNG) (BULLETIN BOARD: SPNG) a company which designs, produces and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology received an increase in the initial order placed in April, 2008 from $7,500,000 USD to $11,000,000 USD. This is an increase of $3,500,000 USD. This is from the National TV promotional program started in August, 2008. It is running the new 30 and 60 second spots, and a longer 2 minute commercial for the NEW 'Uncle Norman's(TM) Pet Sponge' now being broadcast nationwide on several TV Networks. This increase in sales is attributed to the quality of the 'Uncle Norman's(TM) Pet Sponge' as with all SpongeTech(R)'s products.
'Uncle Norman's(TM) Pet Sponge' is imbedded with a gentle shampoo and has massage bumps (or nubs) to assist the effectiveness of the bath. Each sponge can be used 8 times or more, depending on the size of your pet. As with SpongeTech(R)'s other products, management seeks to aggressively market their pet sponge products on a global scale while increasing their large retail chain presence. The company cannot disclose many of the details at this time.
Steven Moskowitz, SpongeTech(R) COO said, "Based on results from an internal results for 'Uncle Norman's(TM) Pet Sponge' we could see this out sell our Ultimate One-Step Car Wash & Wax System in 2009."
Michael Metter, CEO SpongeTech(R) said, "I would like to remind investors and shareholders that financial reports for fiscal year ending May 31, 2008, are almost done, we are working hard to finish them and they will be out on time."
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/ .
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems, Inc, is a company which designs, produces and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology. These sponge-based products utilize SpongeTech(R)'s proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
The Investor Relations Group 212-825-3210 Investor Relations: Rachel Colgate or Michael Crawford Media Relations: Steven Melfi / Lynn Granito
DATASOURCE: SpongeTech(R) Delivery Systems, Inc.
Contact: Investor Relations: Bill Young of SpongeTech(R) Delivery
Systems, Inc., +1-877-776-6438, , or ; or
Rachel Colgate or Michael Crawford of The Investor Relations Group for
SpongeTech(R) Delivery Systems, Inc., +1-212-825-3210; Media Relations: Steven
Melfi or Lynn Granito of The Investor Relations Group for SpongeTech(R)
Delivery Systems, Inc., +1-212-825-3210
Web site: http://www.spongetech.com/
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Date : 08/21/2008 @ 5:34PM
Source : PR Newswire
Stock : (SPNG)
Quote : 0.039 0.0065 (20.00%) @ 4:00PM
SpongeTech(R) Delivery Systems, Inc. To Be Featured on Lifetime Television's The Balancing Act
7:00AM EDT/6:00AM CDT Friday, August 22, 2008
NEW YORK, Aug. 21 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery System Inc.'s (OTC:SPNGOTC:www.spongetech.com) (BULLETIN BOARD: SPNG, http://www.spongetech.com/) Uncle Norman's(TM) Pet Sponge will be featured on Lifetime Network's The Balancing Act, a daily morning talk show for working women, Friday, August 22, 2008, at 7:00AM EDT/6:00AM CDT. SpongeTech(R) is a company which designs, produces, and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology.
Uncle Norman's Pet Sponge is the ultimate pet care product. The sponge has the shampoo, conditioner, and odor inhibitor built in and provides up to eight baths per sponge. During the segment, special guest, Lauren Martinez, the SpongeTech(R) on-camera spokesperson, will educate the show's national audience about the company's proprietary, patented one-step delivery system used in Uncle Norman's Pet Sponge.
To view the segment after it airs, please visit the SpongeTech(R) website: http://www.spongetech.com/
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/.
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems, Inc, is a company which designs, produces and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology. These sponge-based products utilize SpongeTech(R)'s proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.
"Safe Harbor Statement"
Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
The Investor Relations Group 212-825-3210 Investor Relations: Rachel Colgate or Michael Crawford Media Relations: Steven Melfi / Lynn Granito
DATASOURCE: SpongeTech Delivery Systems Inc.
Contact: Investors, Bill Young of SpongeTech(R) Delivery Systems, Inc.,
+1-877-776-6438, , ; or Investor
Relations, Rachel Colgate or Michael Crawford, or Media Relations, Steven
Melfi or Lynn Granito, all of The Investor Relations Group, +1-212-825-3210,
for SpongeTech Delivery Systems Inc.
Web site: http://www.spongetech.com/
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Date : 08/26/2008 @ 9:30AM
Source : PR Newswire
Stock : (SPNG)
Quote : 0.042 0.0 (0.00%) @ 3:59PM
SpongeTech(R) Delivery Systems, Inc. Sponsored Darryl Strawberry Foundation's 2nd Annual Charity Golf Classic
Sports Greats and Celebrities Take a Swing Against Developmental Disorder to Support Foundation for Children and Families Affected by Autism
NEW YORK, Aug. 26 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNGOTC:www.spongetech.com) (BULLETIN BOARD: SPNG, http://www.spongetech.com/) a company which designs, produces, and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology, sponsored the Darryl Strawberry Foundation Golf Outing for Children and Families Affected by Autism on Monday, August 25th at the Bethpage State Park in Farmingdale, New York.
Among the sports greats in attendance were: Carl Banks, Sam Rosen, John Starks, Willie Upshaw, Ozzie Smith, Ray Lucas, Curtis McGriff, Bruce Harper, and Ron Darling, among others.
SpongeTech has a partnership with the Darryl Strawberry Foundation whereby the Company has committed to donate a percentage of its children's bath sponge, Puddle Pals, revenues to the Darryl Strawberry Foundation. Puddle Pals is a baby bath toy filled with hypoallergenic soap, with each sponge capable of up to eight washes.
"We were pleased to be a part of an event to support such an important cause," said Steven Moskowitz, COO of SpongeTech. "We believe our technologies have great potential to grow in popularity as we continue to market and promote SpongeTech's products. We look forward to continuing to support this foundation and to participate in other marketing opportunities as our company remains on track for future growth."
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems, Inc, is a company which designs, produces and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology. These sponge-based products utilize SpongeTech(R)'s proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for car care and pet care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique "foaming" bath sponge for children.
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
The Investor Relations Group 212-825-3210 Investor Relations: Rachel Colgate or Michael Crawford Media Relations: Steven Melfi / Lynn Granito
DATASOURCE: SpongeTech Delivery Systems, Inc.
Contact: Investor Relations, Bill Young, SpongeTech(R) Delivery Systems,
Inc., +1-877-776-6438, , ; or Investor
Relations, Rachel Colgate or Michael Crawford; Media, Steven Melfi or Lynn
Granito, +1-212-825-3210, all of The Investor Relations Group
Web site: http://www.spongetech.com/
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Date : 09/02/2008 @ 8:30AM
Source : PR Newswire
Stock : (SPNG)
Quote : 0.045 0.0 (0.00%) @ 7:33AM
SpongeTech Delivery Systems, Inc. Reports Fiscal Year End Results
Company Reports Robust Revenue Increase Topping $5.6M in Sales
NEW YORK, Sept. 2 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNGOTC:www.spongetech.com) (BULLETIN BOARD: SPNG, http://www.spongetech.com/) , a company which designs, produces, and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology, today reported its financial results for the twelve months ended May 31, 2008.
Management Comment
"What a great first year as a public company," said Michael Metter, Chief Executive Officer of SpongeTech. "I'd like to take this opportunity to thank all our of shareholders, my management team, our employees, and our vendors, for their support, hard work, focus, and discipline in helping us to surpass our goals. Steven Moskowitz and I have always realized that we are only as good as the people with whom we have surrounded ourselves. We are determined to continue to market and sell unique products that have great value as we continue to build SpongeTech into America's Cleaning Company. We look forward to our future."
Income Summary (in thousands)
For the Years Ended May 31, 2008 May 31, 2007
Revenue $5,633,084 $55,112
Cost of goods sold 2,083,519 38,898
Gross profit 3,549,565 16,214
Operating Expenses Advertising and promotion 2,027,727 0 Selling, general and administrative 260,664 829,147 Depreciation and amortization 16,175 4,284
Total operating expenses 2,304,566 833,431
Net income (loss) from operations 1,244,999 (817,217)
Other expenses-interest 544 0
Net income (loss) $1,244,455 $(817,217)
Net income (loss) per share from continuing operations: Basic and diluted $.01 $(.02) Weighted average number of shares outstanding: Basic and diluted 106,403,107 40,348,016
Fiscal Year End Results
Revenues for the twelve months ended May 31, 2008, were $5.6M dollars compared to $55,000 the prior year, this equated to a $5.5M increase year over year. This substantial increase was due to the company marketing and distributing our products regionally, nationally and worldwide.
Net Income increased $2M dollars in 2008 to $1.24M compared to a loss of $817,000 in 2007. This increase in net income can be attributed to a direct relationship to the company's aggressive sales coupled with a focus on reducing costs.
Balance Sheet (in thousands) For the Years Ended May 31, 2008 May 31, 2007
ASSETS
CURRENT ASSETS Cash and cash equivalents $208,709 $387 Accounts receivable 3,974,810 0 Inventory 387,531 0 Prepaid advertising and commission 637,875 0
Total current assets 5,208,925 387
PROPERTY AND EQUIPMENT, net 32,554 19,979
OTHER ASSETS Intangible assets, net 369,243 90,000 Security deposit 8,000 0
Total other assets 377,243 90,000
TOTAL ASSETS $5,618,722 $110,366
LIABILITIES AND STOCKHOLDERS' EQUITY
CURRENT LIABILITIES Accounts payable $202,562 $188,333 Accrued expenses 78,975 78,952 Loan payable-related party 7,021 0 Income taxes payable 1,000 1,600
Total current liabilities 289,558 268,885
LONG-TERM LIABILITIES 0 0
STOCKHOLDERS' EQUITY Preferred stock, $0.001 par value, 50,000,000 shares authorized, 0 shares issued and outstanding at May 31, 2008 and 2007 0 0 Common stock, $0.001 par value, 750,000,000 shares authorized, 365,473,214 and 46,842,406 shares issued and outstanding at May 31, 2008 and 2007, respectively 365,473 46,843 Additional paid-in-capital 7,371,954 3,447,356 Deficit (2,408,263) (3,652,718)
Total stockholders' equity (deficiency) 5,329,164 (158,519)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $5,618,722 $110,366
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems, Inc., is a company which designs, produces and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology. These sponge-based products utilize SpongeTech(R)'s proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for car care and pet care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique "foaming" bath sponge for children.
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
The Investor Relations Group 212-825-3210 Investor Relations: Rachel Colgate or Michael Crawford Media Relations: Steven Melfi or Lynn Granito
DATASOURCE: SpongeTech Delivery Systems, Inc.
Contact: Investor Relations: Bill Young of SpongeTech Delivery Systems,
Inc., +1-877-776-6438, or ; or Investor
Relations: Rachel Colgate or Michael Crawford, or Media Relations: Steven
Melfi or Lynn Granito, all of The Investor Relations Group, +1-212-825-3210
Web site: http://www.spongetech.com/
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Date : 09/02/2008 @ 9:10AM
Source : PR Newswire
Stock : (SPNG)
Quote : 0.045 0.0 (0.00%) @ 7:33AM
SpongeTech(R) Delivery Systems, Inc. CEO Interviewed Live on Steve Crowley's American Scene Radio Show
Tuesday, September 2, 2008 9:10 AM EDT
NEW YORK, Sept. 2 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNG) (BULLETIN BOARD: SPNG) is pleased to announce that its CEO and President, Michael Metter, will be interviewed today on Steve Crowley's American Scene Radio Show at 11:34 a.m. EDT. The interview can be heard live on BusinessTalkRadioNetwork(R) affiliate radio stations streamed on its website, http://www.businesstalkradio.net/. You can find local radio stations by accessing the website, as well. Mr. Metter will be scheduled for future interviews on American Scene, where he will keep listeners updated on SpongeTech(R)'s products and developments.
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/.
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech(R)'s proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
The Investor Relations Group 212-825-3210 Investor Relations: Rachel Colgate or Michael Crawford Media Relations: Steven Melfi / Lynn Granito
DATASOURCE: SpongeTech(R) Delivery Systems, Inc.
Contact: Investor Relations, Bill Young of SpongeTech(R) Delivery
Systems, Inc., +1-877-776-6438, or ; or
Rachel Colgate or Michael Crawford, or Media Relations: Steven Melfi, Lynn
Granito of The Investor Relations Group, +1-212-825-3210
Web site: http://www.spongetech.com/
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Date : 09/05/2008 @ 10:00AM
Source : PR Newswire
Stock : (SPNG)
Quote : 0.0348 0.0015 (4.50%) @ 10:00AM
SpongeTech(R) Delivery Systems, Inc. to Air Promotional Advertising on the Boston Red Sox's(TM) New England Sports Network 'NESN
SpongeTech(R) To Begin Test Promotional Advertising Campaign on NESN TV over This Weekend
NEW YORK, Sept. 5 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNG) (BULLETIN BOARD: SPNG) is pleased to announce that starting tonight the Company will be airing promotional advertising on NESN TV tonight, Friday, September 5, 2008. The first of the television ads will air prior to tonight's Boston Red Sox's game against Texas Rangers with additional promotional spots airing prior to Monday's game between the Red Sox and the Tampa Bay Rays.
SpongeTech(R) COO Steven Moskowitz said, "We are especially excited to begin airing spots in the New England market during this exciting time in the baseball season. We believe this will be an effective way for SpongeTech(R) to better familiarize Red Sox fans with our brand, and encourage them to try our products and experience our value."
For more information, please contact Bill Young Investor Relations at 1-877-SPONGE-T, (877-776-6438) and/or visit the Company's website at: http://www.spongetech.com/ .
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for the automotive aftermarket parts industry. These sponge-based products utilize SpongeTech's(R) proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's primary product line has been designed specifically for automotive/vehicle applications, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
The Investor Relations Group 212-825-3210 Investor Relations: Rachel Colgate or Michael Crawford Media Relations: Steven Melfi / Lynn Granito
DATASOURCE: SpongeTech(R) Delivery Systems, Inc.
CONTACT: Bill Young, Investor Relations, SpongeTech(R) Delivery Systems,
Inc., 1-877-776-6438, , ; or The Investor
Relations Group, Investor Relations: Rachel Colgate or Michael Crawford, Media
Relations: Steven Melfi or Lynn Granito, +1-212-825-3210
Web site: http://www.spongetech.com/
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Date : 09/10/2008 @ 11:22AM
Source : PR Newswire
Stock : (SPNG)
Quote : 0.026 -0.002 (-7.14%) @ 11:04AM
SpongeTech(R) Delivery Systems, Inc. 'A Proud Sponsor of the New York Mets(TM)' has Uncle Norman's(TM) Pet Sponge Day at Shea St
SpongeTech(R) is a Season Sponsor and will Distribute 12,000 Uncle Norman's(TM) Pet Sponge T-Shirts for Kids at Shea Stadium Today Wednesday, September 10, 2008!!
NEW YORK, Sept. 10 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (OTC:SPNG) (BULLETIN BOARD: SPNG) announced today that as a season sponsor of the New York Mets(TM) they will have a Pet Sponge Day today at Shea Stadium, Wednesday, September 10, 2008! Pet Sponge Day is to introduce SpongeTech(R)'s new Uncle Norman's(TM) Pet Sponge, which allows you to bathe your dog or cat or horse with much less hassle. Uncle Norman's 3-in-1 action contains shampoo, conditioner and odor neutralizer with massage bumps and there is no need to buy all items separately. Patented and earth-friendly. The game starts at 7:10 PM EDT so be there early!
SpongeTech(R)'s COO, Steven Moskowitz, said, "Today we will distribute Uncle Norman's(TM) Pet Sponge t-shirts to the first 12,000 kids ages 12 and under in attendance. These t-shirts will have the Mets(TM) Mascot, 'Mr. Met' logo and 'LET'S GO METS' on them and will be handed out at the WFAN Van. We are very excited to be sponsoring the Mets and for having the opportunity to reach many of their fans. There will be promotional announcements on TV and WFAN radio prior to the game, as well as signage at the stadium throughout this, the last season at Shea. This is a great way for people to become familiar with our new Uncle Norman's(TM) Pet Sponge and other SpongeTech(R) products!"
For more information, please contact Bill Young Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: http://www.spongetech.com/ .
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems, Inc., a company which designs, produces and markets innovative, cost-effective, and environmentally sensitive packaging and product delivery solutions through its exclusive patented packaging technology. These sponge-based products utilize SpongeTech(R)'s proprietary, patent (and patent-pending) technologies involving hydrophilic (liquid absorbing) foam and polyurethane matrices. The Company's sponges are specially configured with an outer contact layer and an inner matrix, the latter of which comes pre-loaded with specially formulated soaps and wax that are released when the sponge is wetted and applied to a surface with minimal pressure. The Company's current product line is designed for Car Care and Pet Care, however, SpongeTech(R) is currently exploring additional applications for its technology including an anti-bacterial, kitchen and bath cleaner, as well as a unique 'foaming' bath sponge for children.
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc.
Investor Relations: Bill Young, 1-877-776-6438 or
The Investor Relations Group 212-825-3210 Investor Relations: Rachel Colgate or Michael Crawford Media Relations: Steven Melfi / Lynn Granito
DATASOURCE: SpongeTech(R) Delivery Systems, Inc.
CONTACT: Investor Relations: Bill Young, SpongeTech(R) Delivery Systems,
Inc., +1-877-776-6438, , or ; Investor
Relations: Rachel Colgate or Michael Crawford, Media Relations: Steven Melfi
or Lynn Granito, all of The Investor Relations Group, +1-212-825-3210
Web site: http://www.spongetech.com/