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SPNG - SpongeTech(R) Delivery Systems, Inc. Updates Sales from Television and Radio Marketing Campaign Running in Several Major Cities
SpongeTech(R) Reports a Total of $3.2 Million in New Revenues and Initial Orders Shipped to Ace Hardware Stores
NEW YORK, Dec. 8 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. America's Cleaning Company(TM), (OTC:SPNG) (BULLETIN BOARD: SPNG) , updated sale reports with new revenues in excess of $3.2 million in sales from their radio and television marketing campaign running in several major cities across the U.S. and in the last ten days. In addition, initial orders to Ace Hardware have been shipped!
SpongeTech(R) COO, Steven Moskowitz said, "I am pleased with response to our television and radio marketing campaign and very pleased we have shipped Ace Hardware initial orders. This is the type of quality company that we look to align ourselves with to bring our products lines to the forefront of consumers in the United States."
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 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 this presentation 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 May 31, 2008, the Company's Quarterly Report on Form 10-QSB for the first quarter ended August 31, 2008. 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 of SpongeTech(R) Delivery Systems, Inc.,
and we know the AS is still 950MM shares, per my chat with the DE SOS rep today.
This leaves a possibility for potential dilution between 10/14 and today of 140,114,127 shares. It's interesting to note that the volume of stock traded between 10/14 and today so far, is 630,954,350 shares, or 4.5 times this "potential dilution"...
So lets say for discussion's sake that they did dilute to the full 950MM shares.... This still leaves then, 490,840,223 shares that have traded since 10/14 that was just trading within this hypothetical 950MM OS out in the public market.
With all the nice PR's since 10/14, I find it hard to believe that this excess 490MM shares that HAVE traded are just back and forth flipping.... IMHO, no matter if the company has diluted to 950MM or not, [u]there's still gotta be a NSS position here in the hundreds of millions of shares,[/u] just by using simple math of what the OS was, the AS is, and what the ACTUAL trading volume has been.
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