SPONGETECH
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Macht was ihr wollt ich werde mich weiter eindecken :-P
ich denke mehr als 2 monate werden die filings nicht mehr auf sich warten lassen!
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 15, 2009 (December 14, 2009)
SPONGETECH DELIVERY SYSTEMS, INC.
(Exact name of registrant as specified in its charter)
Delaware 333-100925 54-2077231
(State or other jurisdiction
of incorporation) (Commission File Number) (IRS Employer
Identification No.)
10 West 33rd Street, Suite 518
New York, New York 10001
(Address of principal executive offices and Zip Code)
Registrant's telephone number, including area code: (212) 695-7850
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 1.01 Entry Into a Material Definitive Agreement
On December 14, 2009, SpongeTech Delivery Systems, Inc. (“SpongeTech”) entered into a Settlement Agreement and Release (the “Settlement Agreement”) with Sponge Tech, Inc. (“STI”), Spongeables LLC (“Spongeables”) and Michael Popovsky, an officer of STI and Spongeables (collectively, the “Defendants’). A copy of the Settlement Agreement and all Exhibits thereto is attached as Exhibit 10.1 to this Current Report.
By way of background, on October 4, 2009, SpongeTech commenced an action in the United States District Court for the Southern District of New York against Spongeables and subsequently amended the complaint to add the other Defendants (the “Lawsuit”). The complaint alleged, among other things, trade infringement, unfair competition, false description, injury to business reputation, and defamation. The Defendants have denied any wrongdoing.
Pursuant to the Settlement Agreement, the parties agreed to a dismissal of the Lawsuit with prejudice within five business days after execution of the Settlement Agreement, and SpongeTech released the Defendants, and the Defendants released SpongeTech, from any claims, demands and causes of action, whether in law or equity, that arise out of or relate to the claims in the Lawsuit or either were asserted or could have been asserted in the Lawsuit.
Further, Mr. Popovsky agreed to provide a clarification letter (“Clarification Letter”), which is attached to the Settlement Agreement as Exhibit B, with respect to an article in the New York Post dated September 22, 2009, and to send the Clarification Letter to the New York Post.
In addition, the Defendants agreed, among other things, to not use the mark SPONGETECH in connection with the sale of any product or service for sponges infused with soap and/or active ingredients, or any mark that is similar to, would cause dilution of, injury to or confusion with, SpongeTech’s marks or business reputation. SpongeTech agreed to not use the mark SPONGEABLES or any of the Spongeable Marks in connection with the sale of any product or service for sponges embedded with cleaner, soap, shampoo, wax, degreaser and/or active product ingredients, or any mark that is similar to, would cause dilution of, injury to or confusion with, Spongeables’ marks or business reputation.
The foregoing summary of the agreements and transactions described in above is qualified in its entirety by reference to the definitive transaction document, a copy of which is attached as an exhibit to this Current Report on Form 8-K.
Item 9.01. Financial Statements and Exhibits.
Exhibit No. Description
10.1 Settlement Agreement and Release dated December 14, 2009 by and between SpongeTech Delivery Systems, Inc., Sponge Tech, Inc., Spongeables LLC and Michael Popovsky.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
SpongeTech Delivery Systems, Inc.
Date: December 15, 2009 By: /s/ Michael L. Metter
Michael L. Metter
Chief Executive Officer
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EXHIBIT INDEX
Exhibit No. Description
10.1 Settlement Agreement and Release dated December 14, 2009 by and between SpongeTech Delivery Systems, Inc., Sponge Tech, Inc., Spongeables LLC and Michael Popovsky.
www.sec.gov/Archives/edgar/data/1201251/...9064561/v169010_ex10-1.htm
[Spongeables LLC Letterhead]
Editor-In-Chief
New York Post
1211 Avenue of the Americas New York, NY 10036-8790
Dear Sir/Madam:
I am the CEO of Spongeables, LLC, a Los Angeles based company that manufactures and sells soap/shower gel (and other ingredients) infused in sponges using our patent-pending technology.
The purpose of this letter is to clarify certain statements that were made during a telephone interview with a reporter from the New York Post and later attributed to me in a September 22, 2009 article in the Post entitled "Spongetech is all wet".
Spongeables, LLC has never been and is not affiliated in any way with SpongeTech Delivery Systems Inc. This fact was subsequently reported on October 6, 2009 by the New York Post.
I was contacted by the New York Post reporter for an interview and spoke to her in my capacity as CEO of Spongeables LLC. As I recall our conversation, I was asked a general background question about sales by a company, like Spongeables, that had been in business for about two years selling infused body wash sponges (e.g., infused with shower gel) in the United States. My comments were that such a company could have sales from $5 to $10 million dollars a year.
The statements attributed to me were not about SpongeTech Delivery Systems Inc. The manner in which the statements were printed in the Post article may have created the incorrect impression that I was speaking about SpongeTech Delivery Systems Inc. and its sales, which I was not. I regret that the statements may have been misconstrued or that unfavorable inferences or conclusions about SpongeTech Delivery Systems Inc. may have been made. I have no personal knowledge regarding sales by SpongeTech Delivery Systems Inc. or its finances.
Very truly yours,
Michael Popovsky
Chief Executive Officer
Spongeables, LLC
Settlement Agreement
Execution Copy
(December 14, 2009)
aber leider kommt der Kurs immer noch nict von der Stelle.
Wir sind immer noch zwischen 0,04 und 0,05 US$ gefangen und
wir werden erst mit dem 10K dort raus kommen.
Scheinbar ist die Verunsicherung noch zu groß.
Hauptsache den Kurs runtergeprügelt. Das Puzzle fügt sich zusammen?
Ja, die Statements die nötig waren um den kurs runterzuprügeln werden nun aus der Welt geräumt. Das der 10k in naher Zukunft erscheinen wird ist sicher...
getfugu lawsuit is beendet
spongables is ausm weg
haben wir noch irgendwelche voreiligen kursdrosselnde ereignisse erlebt in den letzten 6 monaten?
mfg chris
....ich freue mich auf die entsprechenenden meldungen :-()
Das kann noch geraume zeit dauern. Versteht mich nicht falsch. Ich steh hier mit über 12 K eus in de
miese, war aber immer ein ehrliches arschloch und bleib es auch. .,......................................
------------- Ach, was weiß ich? Hier blick ich eh schon lang net mehr durch------------- Weiß nur eins
komme näher an de himmel oder an die hööööllllllll. Von 28 aktien nur 3 leicht im +. Puuuuhhhhh
Bleib cool ich bin im hintergrund fleißig am recherchieren, ich denke die Zahlen werden bald bestätigt, ob es dieses Jahr noch wird weiß ich nicht...aber länger als 2 Moante sollte es nemmer dauern.
Also halt durch großer !
Average Volume (3 month)3: 47,378,200
Average Volume (10 day)3: 11,645,100
Shares Outstanding5: 722.87M
Float:§202.87M !!!!!!!!!!
% Held by Insiders1: 69.96%
% Held by Institutions1: 0.50
und wir wahrscheinlich einen riesigen Knall erleben werden.
Die Frage ist bloß (wie so lange schon) WANN!!!!
Aber ich habe ein gutes Gefühl, es tut sich zuviel um Spongetech,
als das nicht irgendwann bald der Knoten platzt.
Is ja auch bald Weihnachten.....
aber der knoten kann jederzeit platzen keine frage...ich bleib am ball!
Aktuell haben wir ja doch langsam das Problem,
dass die meisten Marktteilnehmer sich schon in
die Feiertage verabschieden und so etwaige positive
News nicht alle Marktteilnehmer erreichen und damit
der Aufschwung nicht die volle Kraft entwickeln kann.
Von daher lass es lieber im Januar knallen.
Alle die die Lust verloren haben sind raus.
Und wenn ich mir den Handel so die letzten Wochen ansehe,
ist es schon sehr eigenwillig für eine Aktie ständig täglich in
einer Bandbreite von 0,04 - 0,05 US$ gehandelt zu werden.
Sieht so aus als wenn einer im Hintergrund still und leise
Stücke aufkauft. Wenn es Sponge selbst ist würde das
ein Aktienrückkauf bedeuten ?!? Was dann zur Folge hätte,
dass so gut wie kein großer free float vorhanden ist.
oder aber immer bei 0,04 die stücke kaufen ;-)
die armen schweine die wegen seiner so "guten informationen eines grossinvestors" eingestiegen sind
wünschen ihm wohl eher die rute
so schaunwirmal
kannst mir wieder einen schwarzen geben
war long, bin long, bleibe long
good luck all