Green Bridge Technologies International, Inc. Finalizes Sale of the Ecologix Division
14 October 2010 - 2:56AM
Marketwired
Green Bridge Technologies International, Inc., (PINKSHEETS: GRBT)
announces that the Company has executed the finalized agreement to
sell 100% of the outstanding shares of their Ecologix GPS Division
to WatchIt Technologies (WTCT) for an undisclosed amount of cash
collateralized by a convertible note. Ecologix is a GPS (Global
Positioning System) hardware and software company which specializes
in custom applications of GPS software with a wide variety of
customers.
"Over the last 15 months we have reinvested the Ecologix revenue
stream into further developing the GPS business and now the sale of
Ecologix is a key element of the launch of our new business model.
Our resources will continue to focus on green technology
development supported by a significant thrust in sales and
marketing of environmentally friendly retail items which generate
multiple return sales," stated Leonard Baxter, CEO of Green Bridge
Technologies International, Inc. "We feel this retail focus along
with the further development and marketing of our VaporTech product
lines and patents will enhance shareholder value and drive profits
to the bottom line."
About Green Bridge Technologies International, Inc.:
Green Bridge Technologies International, Inc.
(www.grbtonline.com) is a technology-based company that
concentrates on developing and marketing new products and services,
aimed at improving our world through green technologies. The
Company operates a Technology R&D facility, where the main
project involves their Vapor Technologies Group and its enhanced
muffler design, where vortex technologies are applied to muffler
manufacturing to decrease weights and costs while enhancing
performance. The Zap Industries division provides environmentally
friendly cleaning products to both the retail and commercial
markets.
Safe Harbor Act: This release includes forward-looking
statements made pursuant to the safe harbor provisions of the
Private Securities Litigation Reform Act of 1995 that involves
risks and uncertainties including, but not limited to, the impact
of competitive products, the ability to meet customer demand, the
ability to manage growth, acquisitions of technology, equipment, or
human resources, the effect of economic business conditions, and
the ability to attract and retain skilled personnel. The Company is
not obligated to revise or update any forward-looking statements in
order to reflect events or circumstances that may arise after the
date of this release.
Contact: Green Bridge Technologies International, Inc.
Investor Relations 1-810-410-8177