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Sunday, 07/20/2008 3:39:28 PM

Sunday, July 20, 2008 3:39:28 PM

Post# of 346
ALERT: .0018 INBG has paid 10% cash ($150,000) to the Manufacturing firm they plan to acquire in full!! This represents 10% of the total acquistion of price of 1,500,000! I am buying here big time. We are golden




On April 16, 2008, the Company entered into a definitive agreement to acquire a 92% stake in Wuhan Wufeng Machinery Manufacturing Company, Ltd. ("Machinery Co.") from Wuhan Intepower Company, Ltd., a China Corporation ("Seller") pursuant to a Stock Sale and Purchase Agreement. After transferring a 4% stake to certain management personnel of the Machinery Co. at the closing of the transaction, the Company will own a net interest of 88% of the equity securities of the Machinery Company. The closing of this acquisition will occur as soon as the audit of the books and accounts of the Machinery Co. is completed to the satisfaction of the Company and requisite governmental approvals are obtained.

([PART 2 DONE! GOVT. HAS APPROVED THE SALE])http://biz.yahoo.com/bw/080709/20080709005206.html?.v=1
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INTERNATIONAL BUILDING TECHNOLOGIES GROUP, INC.
(A DEVELOPMENT STAGE COMPANY)

Notes to the Condensed Consolidated Financial Statements March 31, 2008 and December 31, 2007

the audit of the books and accounts of the Machinery Co. is completed to the satisfaction of the Company and requisite governmental approvals are obtained.

The purchase consideration to be paid by the Company to the Seller will be approximately U.S. $1,500,000, consisting of cash for 10% of the purchase consideration payable by April 24, 2008, and three (3) Convertible Promissory Notes representing the balance of the purchase consideration, such notes being due and payable on June 30, September 30 and December 20, 2008. At the Seller's option the notes are convertible into shares of INBG common stock at a value equivalent to the notes. As of the filing of the filing of this report the 10% cash consideration was paid in full.

The Machinery Co. currently offers several lines of machineries and equipments which can be retooled to manufacture the panel production machineries that the Company endeavors to sell and utilize in several planned projects in China and other countries. The Machinery Co. currently has state of the art tools, experienced engineers, capability to design new lines of equipment, as well as strong customer service and after-sales support. Strategically, this acquisition will strongly support the Company's ability to supply the market for building panels and panel machineries in China and throughout the world.








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