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To: scion who wrote (108699)	10/5/2009 11:01:22 AM
From: scion	Read Replies (2) \| Respond to of 122087

SpongeTech® Delivery Systems, Inc. Announces Trademark Infringement Lawsuit Against Spongetech, Inc. Press Release Source: SpongeTech® Delivery Systems, Inc. On Monday October 5, 2009, 9:30 am EDT Companies: SpongeTech Delivery Systems, Inc. NEW YORK--(BUSINESS WIRE)--SpongeTech® Delivery Systems, Inc. (the "Company") "The Smarter Sponge™", (OTCBB: SPNGE - News), today announced that the Company has filed a trademark infringement lawsuit against Spongetech, Inc. ("STI") in the United States District Court for the Southern District of New York. The complaint alleges California-based company, STI knowingly and willfully appropriated the Company's trademark "SpongeTech®" and solicited business specifically in New York under the Company's trademark. In addition, the lawsuit alleges that STI's CEO made statements to the New York Post that defamed the Company, as a result, injuring the Company's reputation and exposing the Company to public hatred, contempt, ridicule, and/or degradation. The Company is seeking permanent injunction barring STI from using the Company's trademark, including such items as labels, signs, packaging, advertising and promotional material with the use of "SpongeTech®". The Company is also seeking any profits derived from STI's use of the Company's trademark as well as award damages to the Company for injury to its reputation caused by STI's defamatory statements. CEO Michael Metter states, "While we have made numerous attempts to settle this amicably with STI in the past, recent actions by STI have resulted us to seek legal actions. We feel it is important to ensure that our customers and potential customers are not confused by STI abusing our legally protected trademark and to restore our reputation to the public." [...] finance.yahoo.com

To: scion who wrote (108699)	10/6/2009 9:46:07 AM
From: scion	Read Replies (1) \| Respond to of 122087

SpongeTech sent through wringer by SEC By KAJA WHITEHOUSE Last Updated: 12:32 AM, October 6, 2009 Posted: 12:32 AM, October 6, 2009 nypost.com The Securities and Exchange Commission has suspended trading of shares in New York company SpongeTech Delivery Systems, a sponsor of major sporting events and several National Football League teams. The SEC said "questions have been raised about the accuracy and adequacy of publicly disseminated information" concerning the penny-stock company's sales, revenues and investment agreements. Meanwhile, SpongeTech announced that it had filed a lawsuit in federal court against another company also called SpongeTech. In a press release, SpongeTech Delivery Systems said that a California-based firm, SpongeTech Inc., has ruined its good name. SpongeTech Inc., the release says, is guilty of trademark infringements and exposed SpongeTech Delivery Systems "to public hatred, contempt, ridicule, and/or degradation." The CEO of SpongeTech Inc. "defamed the company" to The Post, the release said. The court filing, however, appears to refer to comments by Michael Popovsky, CEO of a competitor called Spongeables. Neither he nor his company were named in the suit. State corporation documents show that a Los Angeles-based Spongetech Inc. is no longer active. Spongeables was incorporated in 2007 at the same address, but has since moved to Inglewood, Calif. "I am the CEO of Spongeables, which has nothing to do with SpongeTech," Popovsky said. He declined to comment further. Over the weekend, word spread among SpongeTech Delivery Systems' investors and watchers that a lawsuit was on the horizon, prompting critics to charge that SpongeTech officials hoped to rally shareholders and increase the stock price. But the SEC halted trading early yesterday, citing questions about "among other things, the amount of sales and customer orders received by SpongeTech, investment agreements entered into by SpongeTech, and SpongeTech's revenues as reported in its financial statements." Efforts by The Post to locate some of SpongeTech Delivery Systems' biggest customers fell flat last month; it could not confirm the phone numbers and addresses for those customers, which the company provided. The suspension is set to be lifted on Oct. 16. The SEC is also investigating the company for possible securities violations. nypost.com