Article: SpongeTech(R) Delivery Systems, Inc., President and CEO, Michael L. Metter; Clarification Statement to Our Shareholders and All Interested Parties.

SpongeTech(R)'s President and CEO Releases Statement

NEW YORK, Aug. 12 /PRNewswire-FirstCall/ -- SpongeTech(R) Delivery Systems, Inc. (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 ...






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