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NEW YORK, Nov 10, 2008 /PRNewswire-FirstCall via COMTEX News Network/ --
SpongeTech(R) Delivery Systems, Inc. America's Cleaning Company(TM), (OTC Bulletin Board: SPNG), is pleased to reported revenues in excess of $2,500,000 USD from sales at the AAPEX Auto Show (November 4-6, 2008, in Las Vegas, NV). SpongeTech(R) exhibited its line of auto-care products during its third consecutive appearance at AAPEX, the world's largest business-to-business event for the nearly $300 billion automotive aftermarket industry. Athletic greats and celebrity Company spokespersons Baseball Star, Darryl Strawberry and NASCAR Craftsman Truck Series driver #7 TJ Bell, were on hand during the trade show at the SpongeTech(R) booth for meet-and-greets, product demos, and more.
SpongeTech(R) COO Steven Moskowitz said, "I am very pleased with our recent presence at AAPEX, the new orders generated there, and the growing receptivity toward our product line in the marketplace. We are receiving tremendous interest in our cleaning delivery technology both here and abroad, with special excitement surrounding our new household products and children's bath product lines. I hope to announce a major event with our children's bath product line in the very near future."
This successful trade show appearance comes after the Company had previously announced anticipated revenue projections of $35,000,000 to $40,000,000 for the fiscal year 2009 starting May 31, 2008. Since October 1, 2008, SpongeTech(R) has received new orders in excess of $5,000,000 for Auto-Care and Pet-Care Products. Eighty percent (80%) of these new orders are from new customers with the balance "reorders" from existing customers.
For more information, please contact Investor Relations at 1-877-SPONGE-T, and/or visit the Company's website at: www.spongetech.com
About SpongeTech(R) Delivery Systems, Inc.
SpongeTech(R) Delivery Systems is a company, which designs, produces, and markets a unique line of reusable cleaning products for household use. These sponge-based products utilize SpongeTech(R)'s 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 this presentation 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 May 31, 2008, the Company's Quarterly Report on Form 10-QSB for the first quarter ended August 31, 2008. 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
wayoung55@aol.com or info@spongetech.com
The Investor Relations Group
Steven Melfi
212.825.3210
SOURCE SpongeTech(R) Delivery Systems, Inc.
http://www.spongetech.com
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