SKGO NEWS!
SkyBridge Technology Group, Inc. Announces Letter of Intent to Acquire
Performance Fuel Enhancement, Inc. and Patented Technology
VANCOUVER, WA and PORTLAND, OR, Oct 15, 2008 (MARKET WIRE via COMTEX) --
SkyBridge Technology Group, Inc. (PINKSHEETS: SKGO) announced today that it had
entered into a Letter of Intent ("LOI") to acquire from Wesley Marr 100% of the
issued and outstanding stock of Performance Fuel Enhancement, Inc., a Delaware
corporation, in a tax free reorganization with the Definitive Agreement to be
completed on or before December 31, 2008.
President and CEO of SkyBridge James Wheeler stated, "We are excited about the
future possibilities in fuel enhancements and green energy. This is why we have
decided to change the direction of SkyBridge from telecom technology and focus
our attention on fuel saving products and green energy technology. We feel that
Performance Fuel Enhancement, Inc. along with Mr. Wesley Marr will bring an added
value to our shareholders."
About Wesley Marr
Wesley Marr is the founder of Performance Fuel Enhancement, Inc., headquartered
in Guymon, OK. Mr. Marr has formulated a family of fuel additives for both
petroleum and biological products using "green" proprietary technologies. The
petroleum-based fuel additive is patent protected. The fuel additive is
manufactured on site in Guymon, OK and shipped nationwide. Mr. Marr has extensive
experience in green energy technology and has been granted a patent for a fuel
enhancement additive from the U.S. Patent Office.
About Performance Fuel Enhancement, Inc.
The Performance Fuel Enhancement's brand called PF-700 was launched by Mr. Marr
in 2004 for use in both gas and diesel engines. Customers report better mileage,
increased engine performance, fuel stabilization and cleaner exhaust emissions.
PF-700 is being sold directly to trucking companies, farmers and ranchers in
Kansas, Montana, Nebraska, North Dakota, South Dakota, Texas and Wyoming.
Mr. Marr stated, "PF-700 is the right product for national exposure through both
chain store and gas station distribution kiosks. We are pleased to team-up with
SKGO to help us with marketing PF-700."
About Fuel Additives and Octane Boosters
Performance fuel additives and octane boosters are an established market sector
with many recognized national brands. It has been reported that the U.S. fuel
additives market will reach $8.4 billion in 2008, driven by government mandates
and the fuel performance needs of more complex engines.
Certain Information
Investors are cautioned that certain statements contained in this document as
well as some statements in periodic press releases and some oral statements of
SKGO officials are "Forward-Looking Statements" within the meaning of the Private
Securities Litigation Reform Act of 1995 (the "Act"). Certain statements in this
news release may contain forward-looking information and are based on
Management's current expectations, estimates and projections subject to change.
Words such as "anticipates," "expects," "intends," "plans," "targets,"
"projects," "believes," "seeks," "estimates" and similar expressions are intended
to identify such forward-looking statements. These statements are not guarantees
of future performance and are subject to certain risks, uncertainties and other
factors, some of which are beyond our control and are difficult to predict.
Therefore, actual outcomes and results may differ materially from what is
expressed or forecasted in such forward-looking statements. You should not place
undue reliance on these forward-looking statements. Unless legally required, the
Company undertakes no obligation to update publicly any forward-looking
statements, whether as a result of new information, future events or otherwise.
The Company disclaims any information that is created or distributed by any
outside party and endorses only information that is communicated by its official
Press Releases.
Contact Information:
SkyBridge Technology Group, Inc.
Vancouver, WA
James Wheeler
Chairman & CEO
(Tel) 360-823-4343
