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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: scion who wrote (109529)	1/18/2010 10:40:50 AM
From: scion	Respond to of 122087

On June 13, 2007, we entered into a Short Form Spot Production Agreement with Immediate Capital Group, Inc. (“ICG”). Pursuant to the terms of the Agreement ICG wrote, produced, and managed an infomercial to promote our wash and wax system. In addition to producing the infomercial, ICG agreed to set up a dedicated website for our product. The Agreement remains in effect for a period of 24 months from the date of the last airing of the infomercial in the US. The infomercial began airing on cable and satellite networks nationally in May 2008 and is expected to air through September 2009. We paid a one-time production fee of $25,000 upon execution of the Agreement. We were also be responsible for all media costs, tape duplication and customization expenses associated with the airing of the infomercial. Further, we are responsible for certain call center costs and for fulfillment and merchant processing fees. We have agreed to pay ICG royalties of 5% of gross worldwide sales (less any returns or uncollectible accounts) from orders obtained through the infomercial, the dedicated website, or any other electronic media sales made as a result of the ICG’s efforts. In addition, we agreed to pay royalties of 5% on all retail sales (less any returns or uncollectible accounts) for a period of twenty-four months after the infomercial ceases to air in the US. Spongetech Delivery Systems Inc · 10KSB · For 5/31/08 secinfo.com SpongeTech Delivery Systems, Inc Projections of $18,940,000 in Orders from Media Campaign!! Publication: Business Wire Date: Tuesday, July 31 2007 SpongeTech Delivery Systems, Inc Total Projections in with Incredible Discoveries!! NEW YORK -- SpongeTech Delivery Systems, Inc. (OTCBB: SPNG - News) the Company is pleased to announced, with focus groups and projections done, the company's total projections for the agreement with Incredible Discoveries is $18,940,000 in orders for the next 18 months!! SpongeTech wants shareholders and inventors to know this $18,940,000 projection is in orders only with Incredible Discoveries!! This does not include any other sales the company is doing or working on. The company will continue to update its shareholders as this moves forward into the release of the infomercial and other parts of the Incredible Discoveries agreement! Steven Moskowitz, Chief Financial Officer of SpongeTech Delivery Systems stated, "$18,940,000 of projected orders in the next 18 months, for a contract that has not cost the company any money, is great for SpongeTech! We are all hoping to reach and surpass this projection!! That would be nice! It is important for everybody to understand these projections are with Incredible Discoveries only, and only reflects part of what the company is doing in sales and advertising. We recently ran a full back page ad in NY, NY in the Metro with a circulation of over 250,000 and ran ads in newspapers in many major cities throughout the country. With the 'Motor Man' Leon Kaplan, YouTube ads and SpongeTech CEO Michael Metter interviewed on 'Steve Crowley's American Scene Show,' we are a company on the move and are doing our best to add value for our shareholders and investors." For more information please contact Investor Relations at 1-877- SPONGE T for Bill Young or visit the company website at: www.spongetech.com. About SpongeTech Delivery Systems [...] allbusiness.com