NEW YORK, April 23 /PRNewswire-FirstCall/ -- SpongeTech® Delivery Systems, Inc., The Smarter Sponge(TM), (Pink Sheets: SPNG) today announced that it has filed a lawsuit in the Supreme Court of the State of New York, New York County, against NYP Holdings, Inc., Kaja Whitehouse, Timothy Sykes, Teri Buhl and David E. Patch, Jr. seeking damages relating to, among other things, the publication of negative, false and/or defamatory statements in various New York Post articles and the impact such publications have had on the company and its executives.
About SpongeTech® Delivery Systems, Inc.
SpongeTech® Delivery Systems, Inc. is a public company which designs, produces, and markets unique lines multi-usage cleaning products for Car Care, Child Care, Home Care, Marine Care and Pet Care usages. These sponge-like products utilize SpongeTech®'s proprietary, patent (and patent-pending) technologies and other technologies involving hydrophilic (liquid absorbing) foam, polyurethane matrices or other ingredients. The Company's sponge-like products are pre-loaded with specially formulated ingredients such as soap, conditioner and/or wax that are released when the sponge is soaked and applied to a surface with minimal pressure. SpongeTech® is currently exploring additional applications for its technology in the health, beauty, and medical markets. SpongeTech® Delivery Systems, Inc. intends to globally brand its products as The Smarter Sponge(TM).
Dicon Technologies, LLC, a wholly-owned subsidiary, located in Black Creek, Georgia, has a product line that currently focuses within the cosmetic, footwear, and medical markets. Dicon's cosmetic product line utilizes a patented, latex-free hydrophilic foam material in a wide variety of sizes and shapes for Dicon's "Just For You®" line as well as several private label brands. Dicon products include applicators, cleansing sponges, buffs, puffs, and wedges for various skin care and cosmetic applications.
Safe Harbor Statement
Under the Private Securities Litigation Reform Act of 1995: The statements in this news release that relate to the Company's expectations with regard to the future impact on the Company's results are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur. Additional risks and uncertainties are set forth in the Company's Annual Report on Form 10-KSB for the year ended May 31, 2008 and the Company's Quarterly Report on Form 10-QSB for the third quarter ended February 28, 2009. The Company undertakes no obligation to publicly release the result of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof, or to reflect the occurrence of unanticipated events or changes in the Company's plans or expectations.
Contact: SpongeTech(R) Delivery Systems, Inc. Investor Relations 1-877-776-6438 ir@spongetech.com
SpongeTech Delivery Systems, Inc.
CONTACT: SpongeTech(R) Delivery Systems, Inc., Investor Relations,
1-877-776-6438, ir@spongetech.com
