Spongetech (SPNG.OB) Shares Climb on Word of Distribution
Spongetech Delivery Systems Inc. (OTC BB: SPNG) today, announced its first $1.5 million sponge order from South America. After word of the sale, shares jumped 60 percent to 24 cents on volume of 1,224,360. I don't know why it's funny to write about sponges - but it is. The numbers backing the sponges, however, aren't. The sale agreement with SA Trading Group Corp. includes 250,000 units (1/5 kits and 1/5 singles) of the car cleaning sponges to be delivered to South America between September 15, 2007 and October 10, 2007. The company said the language on the kit packages will…
