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SpongeTech(R) Delivery Systems, Inc. (OTC Bulletin Board: SPNG) closed at $0.041 Tuesday, trading 12,891,828 shares.
Company News- July 30, 2008: SpongeTech(R) Delivery Systems, Inc., CEO, Michael L. Metter, Announces Corporate Update to Shareholders and Investors!
SpongeTech(R) Delivery Systems, Inc. (OTC Bulletin Board: SPNG - News) CEO Michael L. Metter, is pleased to have announced earlier today 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: www.spongetech.com .
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.
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Blue Earth Solutions, Inc. (OTC Bulletin Board: BESN | Quote | Chart | News | PowerRating) closed at $4.92 Tuesday, trading 1,746 shares.
Company News- July 30, 2008: Blue Earth Solutions Announces Two New Foam Recycling Contracts
Earlier today the following was announced:
Blue Earth Solutions, Inc. (OTC Bulletin Board: BESN | Quote | Chart | News | PowerRating) Receives contracts from Kenco Logistics Services www.kencogroup.com and UST Logistical Systems www.ustlogisticalsystems.com. Both companies provide logistic services for many industry-leading, Fortune 500 companies.
James Cohen Jr., Vice President of Sales, was quoted, "With these two additional contracts, Blue Earth Solutions is following the path of our mission statement to truly offer an environmentally friendly process to reduce the amount of foam in landfills and other potentially hazardous locations."
About Blue Earth Solutions, Inc:
Blue Earth Solutions offers a true environmentally friendly process that reduces EPS (Expanded Polystyrene) from landfills and other potentially hazardous sites and returns it to its original form making it possible to manufacture new polystyrene (plastic) products. Blue Earth is a solution to the EPS waste problem as we are able to recycle it with our proprietary biodegradable solution and recreate polystyrene pellets that we expect to sell for less than new polystyrene pellets. With the significant increase in crude oil prices, plastic continues to increase in cost. Our Styro-Solve(TM) process can reduce the planets consumption of oil, a major part of polystyrene manufacturing, which further increases the value of our process. The majority of polystyrene products are currently not recycled because of a lack of suitable recycling facilities. Furthermore, when it is "recycled," it is not a closed loop - polystyrene cups and other packaging materials are usually recycled into fillers in other plastics, or other items that cannot themselves be recycled and are thrown away. The mission of Blue Earth Solutions is the reversal of this norm which we are implementing a closed loop process to make our planet truly blue.
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