Replies to post #19983 on Skybridge Tech Group (SKGO)

[SunTsu]

$6,000,000 Industrial Revenue Bond


Inc. (SKGO; http://www.skybridgetechgroup.com/) Shot in the Gas (SITG) division President Jeffery Burns and Chief Marketing Officer Mike Barbee met with John C. Cappellino Executive Vice President and Grant P Lesswing Business Development Officer of the Erie County Industrial Development Agency today to start the process for a $6,000,000 Industrial Revenue Bond.

Shot in the Gas has grown at a staggering pace since the merger with Sky Bridge Technology Group and plans to incorporate cross functions of Sanhe to build a strong company. "It just makes sense that as we continue to grow in leaps and bounds that we start looking at expansion," said Mike Barbee Chief Marketing Officer Sky Bridge Technology Group / Shot in the Gas. Sanhe is thriving in China with its patented ultra plastic wood. The United States has an abundance of industrial and agricultural waste. Shot in the Gas plans to position the company to take the Chinese model and integrate it into operations. The ability for rapid manufacturing growth and recycling is a natural fit for an Industrial Revenue Bond which will allow for the finance and retrofitting of a larger building at very favorable terms. The initial meeting with Erie County went very well. The ability to recycle waste, generate revenue, and put people back to work in droves is very desirable for the county.

According to Mr. Cappellino the bond initiative will take about six months to complete and the ECIDA recommends using Key Bank or Bank of America as the financial institution. The next step is to find a suitable building to cover expansion plans. Shot in the Gas will start the process right away. "The upcoming marketing campaigns planned for Shot in the Gas should require us to upgrade our space and our best strategy is to have a space that will allow us to use all the tools in our arsenal. The depressed real estate market and people ready to work make for an idea situation which we plan to take advantage of. We have had incredible interest from distributors of all sorts who we are signing up to distribute Shot in the Gas and we always looking to increase our sales arm. We also plan to revisit our cost of goods for packaging materials in the near future to ensure the best possible prices and quality." - Jeff Burns President of Sky Bridge Technology Group / Shot in the Gas.