Scottsdale, Arizona 10/31/2008 1:00:31 AM
News / Finance

SpongeTech Delivery Systems, Inc (SPNG.OB) Joins Forces With SpongeBob

www.QualityStocks.Net would like to highlight SpongeTech Delivery Systems, Inc. (OTCBB: SPNG). The company 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.

 

In the company’s news yesterday,

 

SpongeTech Delivery Systems, Inc. announced it is getting together with entertainment giant Nickelodeon & Viacom Consumer Products to produce and distribute a line of soap and sunscreen infused sponges for kids. The partnership allows nationwide sales of sponges based on the long-running SpongeBob SquarePants character, as well as two other popular Nickelodeon characters, Dora The Explorer, and Go, Diego, Go.

 

SpongeBob SquarePants is one of the best known characters in the entertainment industry, with an estimated monthly viewing audience of over 70 million. The sponges will be sold at a number of mass market retail stores, as well as online, beginning in the third quarter of 2009.

 

SpongeTech’s COO, Steven Moskowitz, said, “We are incredibly excited about this partnership and see this as a natural fit and a wonderful opportunity to produce and market SpongeBob-branded SpongeTech® product.” He concluded “With the partnership in place, coupled with our strong sales force, parents and children around the county now have an even greater opportunity to be introduced to SpongeTech®’s superior product line.”

 

Nickelodeon is the number-one global entertainment brand for kids. Nickelodeon’s U.S. television network is seen in over 96 million households, and has been the top rated basic cable network for 14 consecutive years.

 

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.