Letter to Shareholders on B Green Innovations, Inc.
March 04 2010 - 8:11AM
Marketwired
B Green Innovations, Inc. (OTCBB: BGNN) CEO Jerry Mahoney issued
the following letter to shareholders:
Dear B Green Innovations Shareholder:
Over the past few weeks, many of you have contacted the company
for an update on our progress. B Green Innovations, Inc. ("B
Green"), "Go Green" mission from its inception, is to create a
"Green" company for the development of solutions to eliminate waste
from the world's environment. B Green offers consumers a realistic
and necessary solution to the problem of waste around the world. We
believe that to truly have an impact on the planet, one must be
committed to the environment and seek out environmentally-friendly
products.
Update Sales & Marketing:
The VibeAway® is currently being tested and evaluated for
distribution by one of the largest big box retailers in the country
and by one of the largest television shopping networks in the
world.
B Green Innovations, Inc. and MEGA Group
USA 1500 Members (2300 Store Fronts) Create A Special Introductory
On "VibeAway®" To All MEGA Group USA Members.
B Green Innovations, Inc. and HANNA RUBBER
COMPANY a recognized leader in rubber
Industry will distribute its "ECOPOD®" Anti
Vibration Pads made from 100% recycled tires.
B Green Innovations, Inc. has instituted free shipping on its
VibeAway® Anti Vibration Pads for Washing Machines from its
website, which has increase our internet sales.
Partners and Re-sellers are given a free counter top display
with the first case of VibeAway® they order, the display sits on
top of a washing machine in the retail store to show the benefits
of VibeAway®, go to
http://bgreeninnovations.com/RecycledTireProducts/VibeAway.aspx to
view the display.
B Green Innovations, Inc. signed a distribution agreement with
Whirlpool Corporation to sell VibeAway®, an anti-vibration pad made
from 100% recycled tires. Whirlpool Corporation is the world's
leading manufacturer and marketer of major home appliances, with
annual sales of approximately $19 billion, which continues to build
our distribution network.
Visit http://bgreeninnovations.com/Partners.aspx to see our vast
growing partner network.
B Green Innovations Financing:
The Company has instituted a number of actions by removing the
ability of holders of convertible debentures and preferred stock to
convert these securities into Common Stock thereby eliminating the
further dilution of the Common Stock and the shareholders' position
in the Company:
-- B Green received $232,491 From Sale of New Jersey State Net Operating
Losses for the year ending December 31, 2008. The company didn't obtain
the funding through bank loans or equity financing. Instead, B Green
sold some of its net operating losses (NOLs) to another New Jersey
business.
-- B Green received a preferred stock investment of $1.1 million on very
favorable terms, to view terms go to:
http://bgreeninnovations.com/LinkClick.aspx?link=PDF%2fpreferred+invest+into+bgreen+_2_.pdf&tabid=57&mid=451
Patent Filings & Technology Developments:
The Company will continue its research and development to
generate new and improved product offerings while strengthening its
intellectual property portfolio. The company has filed 2 new
patents and plans to file additional patents in the near
future.
B Green filed an additional patent for green technology
intellectual property related to products made from recycled
plastic, embedded container recycled sheet baskets.
New Products:
-- Degradable Bags; B Green has commenced prototype development
Biodegradable Plastic Garbage, Compactor & Pet Bags made from recycled
plastics and the bags are in the testing phase. Follow this link for
additional info:
http://bgreeninnovations.com/DegradableBiodegradablePlasticBags.aspx
With growing potential in the market for "Green" opportunities,
we believe the Company is in a great position to deliver on its
prospects. I would like to thank you for your continued
support.
Sincerely,
Jerry Mahoney President and Chief Executive Officer
Certain information included in this letter to shareholders, may
contain forward-looking statements about our current and expected
performance trends, growth plans, business goals and other matters.
These statements may be contained in our filings with the
Securities and Exchange Commission, in our press releases, in other
written communications, and in oral statements made by or with the
approval of one of our authorized officers. Information set forth
in this press release contains various "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. The Private
Securities Litigation Reform Act of 1995 (the "Act") provides
certain "safe harbor" provisions for forward-looking statements.
The reader is cautioned that such forward-looking statements are
based on information available at the time and/or management's good
faith belief with respect to future events, and are subject to
risks and uncertainties that could cause actual performance or
results to differ materially from those expressed in the
statements. Forward-looking statements speak only as of the date
the statement was made. We assume no obligation to update
forward-looking information to reflect actual results, changes in
assumptions or changes in other factors affecting forward-looking
information. Forward-looking statements are typically identified by
the use of terms such as "anticipate," "believe," "could,"
"estimate," "expect," "intend," "may," "might," "plan," "predict,"
"project," "should," "will," and similar words, although some
forward-looking statements are expressed differently. Although we
believe that the expectations reflected in such forward-looking
statements are reasonable, we can give no assurance that such
expectations will prove to be correct.
For more information:
http://www.bgreeninnovations.com/
Contact: Dolores Serafin 732-696-9333