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I used the soap and wax sponge today on my truck and was very satisfied with its performance.

A lot of soap in the sponge and it did give my truck a nice wax also. My truck is black and it has a nice shine.

The degreaser sponge worked great on my rims but sadly it did not hold up well. The degreaser sponge is a one time use as far as I am concerned.

Does it work? Yes, I give it a grade of A. It would have been a A+ except for the degreaser sponge.

Sep 8, 2009 6:00:00 AM
Copyright Business Wire 2009




View Additional ProfilesNEW YORK--(BUSINESS WIRE)-- SpongeTech(R) Delivery Systems, Inc. ("SpongeTech") "The Smarter Sponge(TM)", (OTCBB: SPNG) today announced that its Board of Directors has unanimously approved a reverse split of SpongeTech(R)'s issued and outstanding capital stock at a 1-for-100 split ratio. The reverse stock split, which is expected to take effect on September 22, 2009, subject to receipt of necessary regulatory approvals, has also been approved by the holders of more than a majority of SpongeTech's voting capital stock.

SpongeTech(R) Delivery Systems Takes Steps to Reduce Authorized Common Shares to 300 Million
Sep 11, 2009 6:30:00 AM
Copyright Business Wire 2009




View Additional ProfilesAuthorized Common Shares Totaled 900 Million Prior to Today's Action

NEW YORK--(BUSINESS WIRE)-- SpongeTech(R) Delivery Systems, Inc. ("SpongeTech") "The Smarter Sponge(TM)", (OTCBB: SPNG) today announced the Company is taking action to amend its Articles of Incorporation to reduce the number of common shares that the Company has authorized to 300 million shares. The reduction will take effect simultaneously with the previously announced reverse split, which will be effective on the close of business on September 22, 2009, subject to necessary regulatory approvals.

SpongeTech(R) Delivery Systems Announces Delay in Filing of Its Form 10-K
Sep 16, 2009 7:30:00 AM
Copyright Business Wire 2009




View Additional ProfilesNEW YORK--(BUSINESS WIRE)-- SpongeTech(R) Delivery Systems, Inc. ("SpongeTech") "The Smarter Sponge(TM)", (OTCBB: SPNG) today announced that it requires additional time to file its Annual Report on Form 10-K for the fiscal year ended May 31, 2009.

As previously announced, SpongeTech retained Robison, Hill & Co., a Professional Corporation, following the resignation of Drakeford & Drakeford, LLC on July 16, 2009. Drakeford resigned as a result of the revocation of its registration by the Public Company Accounting Oversight Board ("PCAOB") which occurred on June 16, 2009. The transition to the new auditor has resulted in delays in completing the audit of SpongeTech's financial statements for fiscal 2009, as well as the re-audit of its financial statements for fiscal 2008, which the SEC notified SpongeTech on September 11, 2009 would be required as a result of the revocation of Drakeford's PCAOB registration.

CEO Michael Metter said, "We recognize that our shareholders have been waiting patiently for the filing of the fiscal 2009 Form 10-K. Unfortunately the requirement to re-audit the 2008 financial statements has caused the process to take longer than we expected. We are working with our current independent auditors to file the Form 10-K as quickly as possible."

SpongeTech(R) Delivery Systems Cancels Reverse Stock Split
Sep 22, 2009 8:04:00 AM
Copyright Business Wire 2009




View Additional ProfilesNEW YORK--(BUSINESS WIRE)-- SpongeTech(R) Delivery Systems, Inc. ("SpongeTech") "The Smarter Sponge(TM)", (OTCBB: SPNGE) today announced that its Board of Directors has decided to cancel its previously announced reverse stock split until after the Form 10-K for the Company's fiscal year 2009 has been filed.

CEO Michael Metter said, "We originally planned for the reverse stock split to take effect after the filing of our Form 10-K for fiscal 2009 to give our shareholders the opportunity to evaluate our financial performance and growth prospects first. In light of the delay in filing, we have decided that to proceed with the reverse stock split would not be in the best interests of our shareholders."

SpongeTech® Delivery Systems, Inc. Partners with DiBella Entertainment for October 2nd ShoBox Event
Press Release
Source: SpongeTech® Delivery Systems, Inc.
On Friday September 25, 2009, 11:15 am EDT
NEW YORK--(BUSINESS WIRE)--SpongeTech® Delivery Systems, Inc. (“SpongeTech”) “The Smarter Sponge™”, (OTCBB: SPNG - News), announced today that the Company has partnered with DiBella Entertainment ("DiBella"), a full-service sports and entertainment company and New York's leading professional boxing promoter. SpongeTech is teaming up with DiBella to sponsor the October 2, 2009 tripleheader boxing event that will be telecast by Showtime as part of the ShoBox series.

The tripleheader will broadcast live from First Council Casino in Newkirk, Oklahoma. A card of this caliber, and generating this level of interest, made the timing of SpongeTech’s leap into the boxing ring a no brainer. For fans of almost any professional sport, the name SpongeTech, has become a part of their watching experience, with ads showing up on TV broadcasts and at the venues of the US Open, MLB, NFL, NBA, NHL games, among many others.

Lou DiBella, the president of DiBella Entertainment, is proud that SpongeTech has decided to use his show as a vehicle for entering yet another pro sport. “SpongeTech is the preeminent sponsor in professional sports at the moment,” said DiBella. “I am glad they chose a show of this quality to enter pro boxing, and I am certain this will be the beginning of a long standing relationship between SpongeTech and DiBella Entertainment.”

SpongeTech’s COO, Steven Moskowitz said, "Teaming up with DiBella on the ShoBox event provides SpongeTech an opportunity to further expand our presence in sporting events that have major media coverage and being in the center of the ring will surely showcase our brand name among boxing fans watching the tripleheader. We look forward to participating in additional events with DiBella."

The October 2 show epitomizes the principle of the ShoBox series: Young Fighters Matched Tough. In the main event, top supper middleweight contender and vicious puncher Allan Green (28-1, 20 KOs) will be match another big puncher in Victor Oganov (28-2, 28 KOs). In the cofeature, Antwone Smith (16-1, 8 KOs), on one of the most impressive winning streaks in boxing, will do battle with Henry Crawford (22-0-1, 9 KOs). Also the telecast will be one of the best young fighters in the sport, super middleweight Marcus Johnson (17-0, 14 KOs) will face the toughest challenge of his career in rugged veteran Victor Villereal (8-3, 4 KOs).

For more information on DiBella Entertainment and/or the October 2nd event, visit: DiBella Entertainment

About SpongeTech® Delivery Systems, Inc.

SpongeTech® Delivery Systems is a company which designs, produces, and markets unique lines of reusable cleaning products for Car Care, Child Care, Home Care and Pet Care usages. These sponge-like products utilize SpongeTech®'s proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponge-like products are pre-loaded with specially formulated ingredients such as soap, conditioner and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech® is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech® Delivery Systems, Inc. intends to globally brand its products as The Smarter Sponge™ .

SPNG Chart:

The Rosen Law Firm Files Securities Class Action Charging SpongeTech Delivery Systems, Inc. With Securities Fraud -- SPNGE.OB, SPNG.OB
Press Release
Source: The Rosen Law Firm PA
On 8:00 pm EDT, Friday October 9, 2009
NEW YORK, NY--(Marketwire - 10/09/09) - The Rosen Law Firm today announced it has filed a class action lawsuit on behalf of all purchasers of SpongeTech Delivery Systems, Inc. ("SpongeTech" or the "Company") (OTC.BB:SPNGE - News) (OTC.BB:SPNG - News) stock between April 15, 2008 and October 5, 2009, inclusive (the "Class Period").

To join the SpongeTech class action, go to the website at THE ROSEN LAW FIRM - EXPERTS IN RECOVERING INVESTOR LOSSES CAUSED BY STOCK-MARKET AND INVESTMENT FRAUD or call Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com for information on the class action.

The case is pending in the United States District Court for the Southern District of New York as case no. 09-CV-8616 (JGK). You can obtain a copy of the complaint from the clerk of court or you may contact counsel for plaintiffs Laurence Rosen, Esq. or Phillip Kim, Esq. toll-free at 866-767-3653 or email lrosen@rosenlegal.com or pkim@rosenlegal.com.

NO CLASS HAS YET BEEN CERTIFIED IN THE ABOVE ACTION. UNTIL A CLASS IS CERTIFIED, YOU ARE NOT REPRESENTED BY COUNSEL UNLESS YOU RETAIN ONE. YOU MAY ALSO REMAIN AN ABSENT CLASS MEMBER. YOU MAY RETAIN COUNSEL OF YOUR CHOICE.

The complaint charges that SpongeTech, its CEO Michael Metter, CFO Steven Moskowitz and director Frank Lazauskas violated federal securities laws by issuing false and misleading financial information to investors and engaging in a stock manipulation scheme.

The complaint alleges that SpongeTech misrepresented its sales revenues, failed to disclose alleged short selling of the Company's stock by certain, and improperly forged opinion letters of counsel in order to permit the sale of the Company's stock. The complaint further alleges that as the truth of the scheme was disclosed publicly the price of SpongeTech stock fell dramatically -- damaging investors.

As a result of this alleged misconduct, the Company is the subject of a formal SEC investigation and the SEC has temporarily suspended trading in the Company's stock.

A class action lawsuit has already been filed on behalf of SpongeTech shareholders. If you wish to serve as lead plaintiff, you must move the Court no later than December 8, 2009. If you wish to join the litigation or to discuss your rights or interests regarding this class action, please contact plaintiff's counsel, Laurence Rosen, Esq. or Phillip Kim, Esq. of The Rosen Law Firm toll free at 866-767-3653 or via e-mail at lrosen@rosenlegal.com or pkim@rosenlegal.com.

The Rosen Law Firm focuses on prosecuting securities class action litigation and actions involving financial fraud. The Rosen Law Firm represents investors throughout the globe concentrating its practice in securities class actions.

Contact:
Contact:Laurence Rosen, Esq.Phillip Kim, Esq.The Rosen Law Firm P.A.Tel: (212) 686-1060Weekends Tel: (917) 797-4425Toll Free: 1-866--767-3653Fax: (212) 202-3827350 5th Avenue, Suite 5508New York, New York 10118Email ContactEmail Contactwww.rosenlegal.com

SpongeTech® Delivery Systems, Inc. Announces Class Action Lawsuits, Resignation of Deloitte & Touche LLP and Files Lawsuit Against Cresta Capital Strategies, LLC.


Press Release
Source: SpongeTech Delivery Systems, Inc.
On 5:53 pm EDT, Friday October 16, 2009
NEW YORK--(BUSINESS WIRE)--SpongeTech® Delivery Systems, Inc. (the “Company” or "SpongeTech") “The Smarter Sponge™” (SPNG) today announced that a lawsuit was filed on October 9, 2009 by The Rosen Law Firm, P.A., in the United States District Court for the Southern District of New York against SpongeTech, and its officers and directors, Michael L. Metter, Steven Moskowitz, Frank Lazauskas as well as RM Enterprises International, Inc. (an entity in which SpongeTech’s directors and officers hold direct and/or indirect ownership interests, and of which Mr. Moskowitz and Mr. Lazauskas serve as officers and/or directors), as a purported class action suit on behalf of all purchasers of SpongeTech stock between April 15, 2008 and October 5, 2009, alleging violations of the federal securities laws.

In addition, a second law firm announced that it has commenced a lawsuit in the United States District Court for the Southern District of New York on behalf of all purchasers of SpongeTech stock between April 15, 2008 and October 5, 2009, inclusive. As of the date of this release, SpongeTech has not been served in this action and has not seen a copy of the complaint.

When and if SpongeTech is served in these actions it intends to carefully review the complaints in consultation with its counsel, and prepare an appropriate defense. SpongeTech and its directors and officers believe that the allegations set forth in the complaint filed by The Rosen Law Firm are meritless and intend to defend the action vigorously.

In addition, the Company today announced that Deloitte & Touche LLP ("Deloitte") has notified the Company that it would not act as SpongeTech’s independent registered public accounting firm for the Company’s fiscal year ending May 31, 2010. Deloitte was scheduled to commence its review of the Company’s financial statements for the quarter ended August 31, 2009, immediately following the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended May 31, 2009.

Furthermore, the Company has filed a lawsuit in the New York State Supreme Court, Suffolk County against Cresta Capital Strategies, LLC. (“Cresta”). The complaint alleges a breach of contract, conversion, unjust enrichment, breach of fiduciary duty and unlawful appropriation of funds. The Company is seeking compensatory damages in the amount of $2.75 million as well as punitive and exemplary damages.

In March 2009, Cresta was hired by the Company to serve as the exclusive investment banker to the Company in which Cresta was to provide advice and services concerning potential merger, acquisition and/or any business transactions. Upon modification of the agreement with Cresta, in June 2009, the Company agreed to and did provide Cresta with a $1 million cash advance which was to be used against future fees as a result of any transactions under the agreement. Cresta did provide investment banking services to the Company on the acquisition of Dicon Technologies, LLC (“Dicon”) as well as introducing the Company to Getfugu, Inc. (“Getfugu”). Cresta was paid in full all fees due with regards to its participation in the Dicon transaction.

In August 2009, the Company was introduced to Getfugu by Cresta, who was serving as investment banker for both the Company and Getfugu. At the advice of Cresta, the Company entered into a definitive agreement with Getfugu to invest $4 million into Getfugu’s mobile-based web search and e-commerce technology, and that the Company would be the first company to utilize Getfugu’s innovative mobile search platform. An aggregate of $1.75 million had been advanced to Getfugu, soon after Getfugu rescinded the transaction and to this date has not returned the monies to the Company.

In September 2009, Cresta terminated its agreement to serve as the investment banker for the Company, waiving and forfeiting any right to the $1 million cash advance for future fees. The Company has made demand for the $1 million, but Cresta has failed to return any part of the cash advance to the Company.

The Company alleges that Cresta breached its fiduciary duty to the Company by assisting Getfugu in obtaining money from the Company and failing to conduct any reasonable due diligence on Getfugu or its officers and personnel and failing to provide the Company with any reasonable due diligence upon which to make its investment decision. The Company is seeking compensatory, punitive and exemplary damages.

About SpongeTech® Delivery Systems, Inc.

SpongeTech® Delivery Systems is a company which designs, produces, and markets unique lines of reusable cleaning products for Car Care, Child Care, Home Care and Pet Care usages. These sponge-like products utilize SpongeTech®'s proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponge-like products are pre-loaded with specially formulated ingredients such as soap, conditioner and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech® is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech® Delivery Systems, Inc. intends to globally brand its products as The Smarter Sponge™ .

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