BROOKSVILLE, FLORIDA--(Marketwire - 04/14/11) - SkyBridge Technology Group, Inc. (PINK SHEETS:SKGO - News) (www.skybridgetechgroup.com) President/CEO Jeff Burns is proud to announce that its Textraw International subsidiary (www.textrawinternational.com) has moved its factory from Greer, South Carolina to Brooksville, Florida.
The new 13,000-square-foot facility in Brooksville will provide Textraw with the opportunity to grow to its full potential and increase its capacity for distribution. As Florida is one of the most reasonable states to ship product from, this new location will reduce costs and increase efficiency, resulting in positive spin-off effects for SKGO shareholders.
Negotiations are underway to build up Textraw's current network of 70+ distributors throughout the southeastern seaboard. Burns plans to position Textraw distributors within 100 miles of each other from Florida to New Jersey. With the passing of new US laws restricting the use of natural pine needles, and the proven sales records of Textraw's patented product, the company sees that Textraw has strong potential to be popular across the rest of the United States.
Textraw is a synthetic pine straw for landscaping use. It is made with recycled post-consumer scrap recovered from plastic milk bottles and appears identical to fresh, natural straw. Textraw maintains its color and fresh appearance for many years and does not decompose, eliminating the need for biannual replacement and pest-deterrence.
In other news and events, the company intends to shortly release forward guidance on Textraw and its past activities and currently pending orders which should assist SKGO shareholders in their assessment of the recently announced merger. An OTCVerify report will follow on SKGO as well.
More details will follow.
Safe Harbor Statement
Information in this news release may contain statements about future expectations, plans, prospects or performance of Skybridge Technology Group Inc. that constitute forward-looking statements for purposes of the Safe Harbor Provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project" and similar words and phrases are intended to identify such forward-looking statements. Skybridge Technology Group Inc. cautions you that any forward-looking information provided by or on behalf of Skybridge Technology Group Inc. is not a guarantee of future performance. None of the information in this press release constitutes or is intended as an offer to sell securities or investment advice of any kind. Skybridge Technology Group Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Skybridge Technology Group Inc.'s control. In addition to those discussed in Skybridge Technology Group Inc.'s press releases, public filings, and statements by Skybridge Technology Group Inc.'s management, including, but not limited to, Skybridge Technology Group Inc.'s estimate of the sufficiency of its existing capital resources, Skybridge Technology Group Inc.'s ability to raise additional capital to fund future operations, Skybridge Technology Group Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities, and in identifying contracts which match Skybridge Technology Group Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Skybridge Technology Group Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.
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