NEW YORK, July 30 /PRNewswire-FirstCall/ — SpongeTech(R) Delivery Systems, Inc. (BULLETIN BOARD: SPNG - News) CEO Michael L. Metter, is pleased to announce a Corporate Update. Management is very pleased with the acceptance of the company’s products in the market place. Revenues for the first half of the company’s current first quarter (June 1 thru July 15) are approximately $2,400,000 dollars and they are estimating sales of approximately $5,000,000 for the company’s full first quarter ending August 31, 2008. The company’s current booked orders, for all products are approximately $30,000,000. This includes both car care and pet care products.
The company’s advertising campaign seems to be working well with advertisements now appearing in all 50 states as well as in Mexico and Canada. For every dollar we are investing in advertising and on infomercials, we are generating well over the industry norm of 1.6 dollars for each dollar invested. The company is also pleased to announce that over 70% of online purchases are re-ordering products. Building “brand recognition” of the SpongeTech’s name through the company’s existing products will prove to enhance further national brand recognition as they plan to roll-out new products this fall.
We are now in the process of dividing SpongeTech(R) into autonomous operating divisions. This will allow us to better monitor costs as well as product growth and profits. Each operating division will have a product manager reporting to the senior Chief Operating Officer. These divisions will include car Care, Pet Care, Health Care and Beauty Products (Puddle Pals), Bio Pharma, and Household Cleaning. SpongeTech(R)’s car Care products are now available in retail stores, such as Bashas’ Supermarkets, and Rite-Aid in the Southwest, Win-Dixie Supermarkets in the South, Price Chopper thru out New England and Wal-Mart South America.
We are now in the final stages of negotiation and product packaging acceptance with some major “big box” retailers. The purchase contacts between these retailers and SpongeTech(R) prohibits us from mentioning their names until the products are in place on the store shelves. Further announcements will be made at that time should these sales be completed.
Our accountants are preparing audited financial statements for our last fiscal year, which ended on May 31, 2008. We expect these results to be released on time. We are financially healthy and are well prepared to continue our aggressive growth.
CEO, Michael L. Metter commented, “I would like to thank our dedicated employees for their superb efforts and hard work during this time of explosive growth and high product demand.” CEO, Michael L. Metter went on to further comment, “I would also like to thank our loyal shareholders and investors for their continued support as we strive to enhance shareholder value.”
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company’s website at: .
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems is a development stage company, which designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech’s(R) 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 the press release 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 December 31, 2005, the Company’s Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. 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
SpongeTech(R) Delivery Systems, Inc.
NORTHBROOK, Ill., June 9 /PRNewswire-USNewswire/ — car crashes are the No. 1 killer of teens in America today, resulting in nearly 6,000 deaths and 300,000 injuries each year.
To view the Multimedia News Release, go to:
Keep the Drive, a national teen-to-teen smart driving movement sponsored by The Allstate Foundation, announced today a new public service (PSA) campaign to help combat the crisis and empower teens to speak up when they feel their safety is threatened in a car.
Despite safer cars, better roads and decades of safe-driving programs, the tragic rate of teen driving fatalities has not changed significantly in over a decade.
— The crash rate per mile driven for 16- to 19-year-olds is four times
that of older drivers.
— In 2006, 62 percent of teenage passenger deaths occurred in vehicles
driven by another teenager.
— 75 percent of teen crash deaths are due to speeding and driver error.
— Adding just one passenger to a teen driver’s car doubles the risk of a
crash, and that risk increases proportionally with the number of
teenage passengers.
In 2005, an Allstate Foundation survey of teens found that peer-to-peer outreach is essential in safe driving programs. Traditionally these programs have been limited to adults “talking at” teens, however more than half of the teens said their friends would be the most effective in getting them to drive safely.
Unfortunately, 70 percent of teens surveyed said they felt unsafe when someone else was driving, but less than half (45 percent) would speak up. The new “Say Something” PSA campaign harnesses the power of positive peer influence with real-life teen testimonials that encourage teens to speak up when confronted with a risky driving situation. The result — a genuine, impactful message that teens can relate to and use in their own driving experiences.
Keep the Drive
Keep the Drive is a national teen-to-teen smart driving movement funded by The Allstate Foundation. It educates teens about the issue, impacts the way they think and act in the car and empowers them to become smart driving activists in their schools and communities. For more information, visit . Additional information on teen driving, including tips for parents of teen drivers, is available at .
Keep the Drive