SpongeTech® Delivery Systems, Inc. “The Smarter Sponge™”, (OTCBB: SPNG) is pleased to announced that the Company has booked a record month in new orders at approximately $23.5 million, surpassing June's orders of $18 million. This continues SpongeTech®’s record breaking orders booked monthly by the Company. SpongeTech®'s products are being well received and continue to penetrate the marketplace including its newest product, SpongeBob Soap-Filled Children’s Bath Sponges that is now in the distribution channels and expected to hit major retail stores shortly. Management believes the drive in sales should continue as SpongeTech® brands its product line as The Smarter Sponge™.
SpongeTech®'s products are being ordered and reordered by various major national retail outlets all through North America including drugstores, supermarkets, membership warehouse clubs, and big box stores. In addition, SpongeTech® will begin its market penetration into Canada and further into Latin America with the various marketing efforts by the Company. The Company’s Direct Response marketing program has also been showing increase return on a regular basis with its Car Care and Pet Care commercials.
"We are pleased with the growth our Company has been experiencing over the last 18 months," commented Michael Metter, CEO of SpongeTech®. "This time last year, we took in approximately $3.2 million in booked orders with retail presence in only 1,700 stores. We are now in excess of 40,000 retail location in the U.S., expanding our presence into Canada and Latin America and strengthening our position in Europe; all of which will allow for continuing strong sales growth across the board."
“We strongly believe that our sales growth will continue at this pace and we intend to capitalize on the demand for our innovative product lines in the marketplace as we expand our presence into over 100,000 retail locations by the end of this year,” said SpongeTech®’s COO, Steven Moskowitz. “We are here for the long haul and plan to continue strengthening SpongeTech®’s position as becoming globally recognized as a household brand name."
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® Delivery Systems, Inc.
SpongeTech® Delivery Systems is a company which designs, produces, and markets unique lines of reusable cleaning products for Car Care, Child Care, Home Care and Pet Care usages. These sponge-like products utilize SpongeTech®'s proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponge-like products are pre-loaded with specially formulated ingredients such as soap, conditioner and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech® is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech® Delivery Systems, Inc. intends to globally brand its products as The Smarter Sponge™ .
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 Third quarter ended February 28, 2009. 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.