Nov. 6, 2009 (Business Wire) -- SpongeTech® Delivery Systems, Inc. (“SpongeTech”) “The Smarter Sponge™”, (OTC: SPNG), provides shareholders an update regarding its dispute with GetFugu, Inc. (OTCBB: GFGU). Both companies have come to terms on the original investment of $1,750,000 that was advanced by SpongeTech and its affiliates back in September. Management of both SpongeTech and GetFugu feel it is in the best interest of both parties to move forward in good faith for the mutual benefit of the companies and their respective shareholders. The aforementioned lawsuit will be dismissed and SpongeTech will proceed with their investment, which will immediately be converted into shares of GetFugu common stock.

GetFugu, Inc. (“GetFugu”), is one of the first technology architect’s to provide a carrier agnostic, platform agnostic mobile search platform. GetFugu will change the way people access the web with their mobile phones. It is designed to encourage use of its applications by simply integrating the mobile phones' core strengths (image recognition, voice recognition, location recognition) into a single customizable application.

GetFugu's unique “See It,” vision recognition (ARL) ”Say It,” voice recognition (VRL); ”Find It,” location recognition (GRL); and “Get It,” Hot-Spotting services is targeted at the growing surge of the world’s population that regularly utilize mobile phones to search for entertainment, news, sports, shopping, and every other thing available on the Internet.

Under the terms agreed to by the parties, SpongeTech will be one of the first companies to utilize GetFugu’s innovative mobile search platform. GetFugu will point SpongeTech consumers to the nearest retail location that carries SpongeTech products based on the GPS functionality available in most mobile phones and/or be automatically connected to SpongeTech’s corporate internet e-commerce portal where they can purchase SpongeTech products on-line.

SpongeTech increased its national marketing and advertising budget this year and has successfully partnered with numerous NBA, NFL and NHL sports teams which include NBA teams: Charlotte Bobcats, Cleveland Cavaliers and New York Knicks, NHL teams: Chicago Blackhawks and New York Rangers and eight NFL teams for the 2009 season. The Company has grown its impressive sports sponsorship portfolio, previously leveraging Major League Baseball teams, the World Football Challenge, the US Open and professional boxing.

"We are pleased that we can move forward with GetFugu and see their platform in action," commented COO of SpongeTech, Steven Moskowitz. “Our marketing strategy has placed the SpongeTech brand name in various sporting venues across the U.S.