Green Bridge Industries, Inc. Increases Assets For the Second Half of The Year by over $1 Million
Company Significantly Improved 2010 Business Outlook with Aggressive Acquisition Campaign
RIDGEWOOD, N.J., April 1 /PRNewswire-FirstCall/ -- Green Bridge Industries, Inc. (Pink Sheets: GRBG) is pleased to announce that the Company has increased its total assets for the second half of 2009 by over $1 Million due to various key acquisitions, in the multi-billion dollar "green" industry, made by the Green Bridge Industries in the later part of the year. The Company reported a 337% increase in total assets for the period ending December 31, 2009 versus the first half of the year. Green Bridge Industries posted its year ending December 31, 2009 financial statements on PinkSheets.com (http://www.pinksheets.com/pink/quote/quote.jsp?symbol=GRBG). The Company reported $1,469,127 in total assets for the period ending December 31, 2009 as compared to $296,760 in period ending June 30, 2009.
During the past year, Green Bridge acquired Brightside Products LLC, an innovator of all natural based, eco-friendly chemicals. Brightside Products, LLC, has developed a chemical product line whose main ingredient is a natural protein that enhances nature as it remediates what it cleans. Its products are made in the US and are able to break everything down into a natural state making it eco-friendly. The acquisition of Brightside Products will enable Green Bridge Industries to produce a "green" product line specifically designed for the industrial and institutional cleaning market.
The Company is optimistic about its operating performance outlook for 2010 and expects significantly improved operating results in 2010 in comparison to 2009. In February, Green Bridge announced the acquisition of Organic Product Solutions (OPS), a provider of clean technology solutions for the industrial/commercial, household and wastewater segments. OPS brings immediate revenue to the Company through its continued relationship with a huge industrial distributor, Inc. OPS has developed a product line of industrial and household cleaning products under the name Natures Solution™ that is marketed by the distributor and is their exclusive brand of private label green-cleaning solutions. Merrill Lynch and the United States Postal Service®, as part of their "green initiative", have used the Natures Solution™ product line.
Green Bridge announced on March 30, 2010 that the Company has acquired 50% ownership of Fusion Incorporated and BDST Leasing LLC, which in 2009 generated over $2 million in revenue and has assets exceeding $1.2 million. Fusion Incorporated concentrates on producing a variety of cleaning brushes and sponge mops for OEM companies who market them as part of their product line. The company produces its brushes for Rubbermaid®, O'Cedar, Resolve, Kiwi, amongst others.
"We are excited about the progress that Green Bridge Industries has made during the second half of 2009 and we look forward to increasing sales and shareholder value as we continue to fulfill our business plan in 2010," stated David Gubb President and CEO of Green Bridge Industries, Inc.
To view Green Bridge Industries, Inc. most recent filings with Pink Sheets, please go to: http://www.pinksheets.com/pink/quote/quote.jsp?symbol=GRBG.
About Green Bridge Industries, Inc.:
Green Bridge Industries, Inc. offers non-toxic, environmentally friendly cleaning products to fit the sanitation needs of the medical, agricultural, military, and retail markets. The Company, through its proprietary technology, has the ability to develop bio-renewable alternative cleaning products, which are superior to the synthetic products currently offered in the marketplace. The Company's products are safe for the surfaces it cleans, the environment, animals and humans. For more information on Green Bridge Industries, visit: http://www.greenbridgeindustries.com/.
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.
Contacts: |
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Green Bridge Industries, Inc. |
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Investor Relations |
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407-389-5900 |
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Source: Green Bridge Industries, Inc. |
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SOURCE Green Bridge Industries, Inc.
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