SpongeTech Delivery Systems Weighs In with a Heavy Forth Quarter Fiscal Year 2009
(OTCBB: SPNG) SpongeTech Delivery Systems, America’s Cleaning Company, report by Perfect Penny Stocks
Rochester, NY 6/13/2009 02:23 PM GMT (TransWorldNews)
SpongeTech
Delivery Systems, Inc. (OTCBB: SPNG), recently announced that the Company generated
record fourth quarter revenues stating that these revenues were “substantially
higher” then previous quarters. SpongeTech’s Fiscal Year 2009 ended on May 31
and financial results will not be released until late August. Forth quarter
revenues helped the Company to largely exceed expectations by generating annual
gross revenues in excess of $50,000,000 and pre-tax profit in the $10,000,000
range.
SpongeTech
is a public company traded on the OTCBB,
formed in 1999, that designs, develops, and markets green “earth friendly” packaging
and product delivery solutions through the Company’s exclusive, patented
packaging technology. SpongeTech’s patent and patent-pending technologies
involve hydrophilic foam and polyurethane matrices. To learn more about
SpongeTech and other penny stocks
visit PerfectPennyStocks.com.
SpongeTech’s
products are currently designed for car and pet care although the Company is
exploring additional applications of its proprietary technology. “We are
excited about the launch of our newest product, SpongeBob SquarePants
Soap-Filled Bath Sponge,” stated COO Steven Moskowitz. SpongeTech sponges are
configured with two layers: an outer contact layer and an inner matrix; this
inner matrix is sold pre-loaded with soap and wax that releases with minimal
pressure.
SpongeTech
CEO Michael Metter recently commented on the Company’s growth, “We had an
exceptional 4th Quarter, which resulted in a great Fiscal Year 2009. The
estimated gross revenues of $50 million far exceeded our expectations and we
look forward to an even stronger year ahead as we continue to release new
products.”
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