Legends Announces Shareholder Updates; In Negotiations for CE Certification
20 September 2012 - 12:22AM
Marketwired
Legends Business Group (PINKSHEETS: LGBS), the company who is
bringing out the Multi-Function Charger Controller (MFCC), is
pleased to recap recent milestones and its continued effort for
overall transparency to its shareholders.
Operational and Financial Updates
Since the announcement of the MFCC Legends has been working hard
to achieve the goals and tasks set forth in the company's past
press releases over the last 3 months. Legends priorities have been
to strengthen its company value, produce a sustaining presence in
the energy market, and create revenue growth.
SEC Fully Reporting Audit:
In July, Legends announced its aspiration to become a fully
reporting company with the Security and Exchange Commission (SEC).
Part of this announcement was that Legends has retained an outside
auditor to assist in the process. The audit is proceeding as
planned and Legends has compiled its two-year financial package for
review. With this underway, the deadline of meeting required
filings, as a fully reporting bulletin board company by the end of
the fourth Quarter 2012 appear to be on schedule.
Performance Testing:
Legends has been meticulous in choosing an independent company
to test the efficiencies and performance of the MFCC. Legends has
executed Non Disclosure Agreements (NDA) with multiple testing
companies, but has been in final negotiations with one in
particular. This company stands out among the rest with over 100
years of combined product testing experience. Legends is in final
negotiations over testing cost estimates, and plans to secure an
agreement. With the conclusion of the agreement Legends will
provide the testing company the MFCC and begin performance testing
right away with the results expected to be completed by mid
October.
Manufacturing:
Legends recently announced that it has signed an agreement with
a Florida-based engineering firm to manufacture the MFCC. "We are
glad to announce that they have sent invoicing and are ready to
start manufacturing the MFCC," said Rudy Sablon, LGBS's President
and CEO. Under the agreement, the engineering firm has agreed to
manufacture a minimum of 500 units over the next twelve months.
Once manufacturing begins, Legends will gain an understanding of
production time periods in an effort to announce the MFCC's release
date. For updates, please visit: http://www.Zombiechargers.com/
Current Update
Legends is in negotiations with multiple testing facilities to
explore the possibility having the MFCC CE certified. "Having the
MFCC certified to meet the European Union's (EU) health, safety,
and environmental requirements would be a great achievement," said
Rudy Sablon, LGBS's President and CEO. "We feel that the MFCC will
easily pass the conformity assessment process, enabling Legends to
market the MFCC domestically and throughout the world."
The European Commission describes the CE mark as a "passport"
that allows manufacturers to trade industrial products freely
within the internal market of the EU. The letters "CE" indicate
that the manufacturer has undertaken all assessment procedures
required for the product.
The MFCC is described as a state-of-the-art multi-function
charging controller, which digitally and thermally adjusts
continuously throughout its charging cycle. The device will
automatically detect and charge 12, 24, 36, and 48VDC lead acid
batteries utilizing complex charging algorithms in association with
bi-directional feedback to attain the optimal charging sequence for
each charging session.
About Legends Business Group
Legends Business Group, Inc. was incorporated in March 2006, and
is a publicly traded company. The company has recently refocused
its purpose and has moved itself into the alternative and exotic
energy marketplace. For more information please visit:
http://www.legendspower.com
Safe Harbor Statement
This report includes forward-looking statements covered by the
Private Securities Litigation Reform Act of 1995. Because such
statements deal with future events, they are subject to various
risks and uncertainties and actual results for the fiscal year and
beyond could differ materially from the Company's current
expectations. Forward-looking statements are identified by words
such as "anticipates," "projects," "expects," "plans," "intends,"
"believes," "estimates," "targets," and other similar expressions
that indicate trends and future events. Factors that could cause
the Company's results to differ materially from those expressed in
forward-looking statements include, without limitation, variation
in demand and acceptance of the Company's products and services,
the frequency, magnitude and timing of paper and other
raw-material-price changes, general business and economic
conditions beyond the Company's control, timing of the completion
and integration of acquisitions, the consequences of competitive
factors in the marketplace, cost-containment strategies, and the
Company's success in attracting and retaining key personnel.
Additional information concerning factors that could cause actual
results to differ materially from those projected is contained in
the Company's filings. The Company undertakes no obligation to
revise or update forward-looking statements as a result of new
information since these statements may no longer be accurate or
timely.
Contact: Investor / Public Relations: Rodolfo
Sablon Phone: 305-767-7993 Email: Email Contact
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