SpongeTech to Shareholders: We Can Spend With The Best of Them
SpongeTech has become the sponsor salesman's best friend this year. Give us some moola, throw up a sign... whaaalaaa! Today, in a letter to shareholders, SpongeTech laid out some of the what, where and why's of the company's massive marketing spend. Here's an excerpt:
We want to address various questions many of you have asked over the past few weeks and to share with you our plans to grow the business and create shareholder value.
Since the beginning of fiscal 2009, we have transformed SpongeTech from an early-stage company with limited brand awareness and distribution reach to a company selling a broadened portfolio of products through multiple distribution channels supported by a host of very successful marketing campaigns and promotional activities.
Boosted Marketing and Promotional Activities