Green Bridge Industries Inc (GRBG)

[Cassandra]

Comments about the proposed Shot Spirits aquisition...

An old adage is that "if it seems too good to be true, it probably is."

Green Bridge claims in its PR today that it has signed a letter of of intent to purchase a controlling interest in Shot Spirits Corporation (SSPT:PK) for $200,000 in restricted GRBG stock and expects to generate $500,000 of revenue in the first 60 days of the acquisition.

That would be the deal of the century, but is it even remotely realistic?

Shot Spirts is not a distiller or direct seller of anything. In 12/2007, it transferred all of its assets including the rights to its ShotPak products to a privately held company called The Beverage Pouch Group in exchange for a 15% equity stake in BPG and a royalty of $0.10 per case.

As you can see on page 21 of their most recent quarterly report ( http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=24364 ), their gross income for the 6 months ended 6/30/09 was only $991. Their loss before income taxes was $357,526.

How are they going to turn that tiny income and major loss into income of $500,000 in the first 60 days after the acquisition?

I don't know anything about Green Bridge, but I do know about Shot Spirits Corp. I am also skeptical about the surprisingly large revenue "expectation" as I have also seen one of Big Apple's former IR clients (Cyberkey Solutions - CKYS:PK) be sued by the SEC for materially false statements and its CEO indicted, convicted and sent to prison for the fradulent false statements.

I'd certainly recommend that people do their own investigation about the Shot Spirits acquisition. To its credit, the company has made fairly compreshensive filings with Pink Sheets. Unfortunately, if you review them in detail, you will see that that company is in very bad shape financially and ended up suing some of its founders for fraudulent activity.

Pink Sheets info: http://www.pinksheets.com/pink/quote/quote.jsp?symbol=SSPT