SpongeTech Delivery Systems, Inc. Gets a $2,750,000 Re-order from its U.S.
Asia Distribution Company, Inc. First 10,000 Units Sold Out in 25 Days!
SpongeTech Reports a re-order of 250,000 units of its Auto Care Products by
U.S. Asia Distribution.
NEW YORK, March 4 /PRNewswire-FirstCall/ -- SpongeTech Delivery Systems,
Inc. (OTC Bulletin Board: SPNG - News) announced today the re-order of
$2,750,000 of its Auto Care Products from U.S. Asia Distribution Company, Inc.
The Distribution Company had the first delivery of 10,000 units in December
2007, and had a 93% sell through in just 25 days. They distributed the
SpongeTech products to 325 outlets. The re-order, for 250,000 units, is
scheduled for delivery between August and December 2008. According to Tom
Chang, CEO of U.S. Asia Distribution Company, Inc., there was great acceptance
and enthusiasm of the SpongeTech Auto Care Products. He expects the same
enthusiasm as they begin selling the products on TV in Australia.
Steven Moskowitz, COO of SpongeTech, commented, "We are pleased with this
re-order as we continue to expand and grow our Company. We are also in the
process of testing the SpongeTech Pet Sponge and Puddle Pals in Asia and hope
to see the same acceptance and enthusiasm with these products as well."
For more information please contact Investor Relations at 1-877-SPONGE T
or visit the company website at: www.spongetech.com.
About SpongeTech Delivery Systems
SpongeTech Delivery Systems is a development stage company which designs,
produces, markets and distributes cleaning products for vehicular use
utilizing patented technology relating to sponges containing hydrophilic
(liquid absorbing) foam polyurethane matrices. The Company's sponges are
specially configured with an outer contact layer and an inner matrix, which is
loaded with specially formulated soaps and wax that are released when the
sponge is applied to a surface with minimal pressure. The Company's products
are currently designed specifically for vehicular cleaning use. However, the
Company is exploring the possibility of using its patented technology for the
development of sponges for other uses, including for use with anti-bacterial,
bath and kitchen soaps for household uses, as well as for use as a children's
bath foam sponge.
"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
wayoung55@aol.com or info@spongetech.com
SOURCE SpongeTech Delivery Systems, Inc.
Investors: Bill Young, SpongeTech Delivery Systems, Inc., +1-877-776-6438,
wayoung55@aol.com, or info@spongetech.com
