Successful APEX/SEMA Auto Show for SpongeTech Delivery Systems in Las Vegas
SpongeTech Had Numerous Domestic and International Retailers Showing a High Interest in Our Product
NEW YORK, Nov. 5 -- SpongeTech Delivery Systems, Inc. (BULLETIN BOARD: SPNG) exhibited its SpongeTech Delivery Systems Car Wash & Wax products at the APEX/ SEMA (Specialty Equipment Market Association) show which was held in Las Vegas this past week. The APEX/SEMA Auto Show in Las Vegas is truly unique among car shows. For one, it's not open to the public. The APEX/ SEMA show is for members of the trade only, so unless you build, sell or are in some way associated with the aftermarket auto parts and accessories industry you can't go. That restriction doesn't limit the attendance, however, as the SEMA auto show floor is as crowded as any of the other big city auto shows.
SpongeTech Delivery System's CFO Steven Moskowitz commented, "We had a fantastic APEX/SEMA show this past week. This is one of the best automotive industry shows we have attended to date and the contacts we made at the show were excellent. We had automotive resellers and retailers from all over the world visit us at our booth." Mr. Moskowitz continued, "While we cannot divulge contact names, suffice to say, that we enjoyed very high traffic by numerous domestic and international big-box retailers, several well known automotive supply retailers, prospective automotive product distributors in a large number of international markets, and very well known and highly respected automotive product suppliers interested in private labeling SpongeTech Car Care products with their own trade brand. If we can close deals with just 5% of the contacts that visited us at the show we will significantly grow our business in 2008 beyond the orders currently on our books. The great thing about the APEX/SEMA show was that there were no 'Tire Kickers.' All of the attendees were industry related resellers, distributors, retailers and rep firms, so the vast majority of the leads we gathered were legitimate and prospective future SpongeTech customers."
For more information please contact Investor Relations at 1-877- SPONGE T or visit the company website at: www.spongetech.com.
About SpongeTech Delivery Systems
SpongeTech Delivery Systems 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. The Company's products are currently designed specifically for vehicular cleaning use. However, the Company is exploring the possibility of using its patented technology for the development of sponges for other uses, including for use with anti-bacterial, bath and kitchen soaps for household uses, as well as for use as a children's bath foam sponge. Each SpongeTech Delivery System sponge is fully biodegradable and is designed with their cutting-edge technology and environmentally friendly.
"Safe Harbor Statement" Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company's expectations with regard to the future impact on the company's results from new products in development 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 December 31, 2005, the Company's Quarterly Report on Form 10-QSB for the first quarter ended March 31, 2006. 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.