SpongeTech(R) Clarification of Yesterday's Press Release
NEW YORK, April 30 /PRNewswire-FirstCall/ -- ...CLARIFICATION OF YESTERDAY'S PRESS RELEASE SpongeTech(R) Delivery Systems, Inc. (OTC Bulletin Board: SPNG) On Tuesday, April 29, SpongeTech announced a new order for Uncle Norman's(TM) Pet Sponge, SpongeTech(R) has received a signed purchase order, along with a letter of credit, from the buyer. The total amount of product purchased by the buyer exceeds $7,500,000. We have begun production with shipping to begin in July 2008.
SpongeTech(R)'s customer is a well-known and established Media Marketing Company with many products now sold through television infomercial marketing. The Uncle Norman's(TM) Pet Sponge will be added to their growing list of products. For contractual, as well as marketing reasons, we have agreed not to disclose their identity of our customers. This is a normal business procedure in the Media Marketing industry.
SpongeTech(R) COO Mr. Moskowitz said, "Our contract with the buyer stipulates that it is the client's obligation to pay for all media and marketing costs. SpongeTech(R)'s obligation is to simply supply our products on a timely basis. I hope this clears up any questions concerning yesterday's release."
The new Uncle Norman's(TM) Pet Sponge can be pre-ordered through the website http://www.spongetech.com .
For more information please contact Investor Relations at 1- 877- SPONGE T and ask for Bill Young or visit the company website at: http://www.spongetech.com .
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems, Inc. 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(R)'s proprietary, patent (an
|SOURCE SpongeTech(R) Delivery Systems, Inc.|
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