Tree Top Industries, Inc. Accelerates Due Diligence Schedule With Sky Corporation
March 09 2011 - 8:30AM
Tree Top Industries, Inc. ("Tree Top") (OTCQB:TTII) (OTCBB:TTII)
and Sky Corporation have been in further discussion regarding a
possible acquisition, and have accelerated the due diligence
period.
Kathy Griffin, President of Tree Top,
stated: "Management is planning a trip to Serbia within the
next two weeks, as we grow confident that the acquisition of Sky
Corporation can be completed in the near future. Their
financial statements indicate substantial revenue and income, with
a growth rate that is exceptional in two of the divisions and solid
throughout the rest of the company. They have indicated a strong
interest in becoming part of an American publicly traded company.
As we work through the details, we will continue to keep our
investors up to date."
About Sky Corporation: Sky
Corporation is headquartered in Belgrade, Serbia in a 1200 square
meter building that it owns. It is the largest distributor of
professional sound and light equipment and instruments in Serbia.
Started as a local guitar shop and demo studio in 1995, Sky
Corporation became a distributor for over 80 worldwide known brands
in the fields of music and light equipment. According to the
founder and President, Mr. Milenko Skaric, there are six divisions
of Sky Corporation, all involved in the music or entertainment
business in some form or manner. Sky Solutions, which has an
equipment rental business and an event organizing business, is one
of the largest production companies in Eastern Europe. They provide
production for concerts, corporate events, festivals, etc. Sky
Solutions is a turnkey solution for all types of events, private
and corporate. They have promoted and fully organized concerts for
Santana, Lenny Kravitz, Rhianna, 50 Cent, The Pussycat Dolls, and
The Gypsy Kings, among others. Adriatic Region Distribution,
another division of Sky Corporation, is a regional distribution
company for musical and sound/light equipment. It is the exclusive
distributor in the region of ex-Yugoslavia and Albania for many top
industry brands, including Korg, Vox, Turbosound, and
Ultimate. Sky Corporation also has a division named Sky Music,
whose main activity is selling professional audio and light
equipment, as well as installing it in discotheques, clubs, public
institutions, venues, and concert halls. Sky Music has done
more than five hundred audio & light installations all over
Serbia. This division is also in retail sales, oriented to
selling musical instruments, studio and broadcast
equipment, as well as testing and demonstrating instruments,
and offering the service of consulting and equipment installation
in radio and TV stations, studios, conference rooms, rooms for
multimedia presentations, etc. Sky Communications is a
marketing division of Sky Corporation, servicing the entertainment
and music industry in Eastern Europe, and Sky Logistics is in the
business of moving and renting trucks and equipment. (Source:
http://www.skymusic.rs/corporate/index.html)
About Tree Top Industries, Inc.: Tree Top
is a development stage company, moving to acquire companies that
are in various stages of development. Tree Top uses several
different paradigms, including stock exchange, joint venture, cash,
and other partnership configurations. Tree Top is a publicly
listed, independently audited company that offers structure,
transparency, and growth potential through various business
paradigms. Tree Top can provide the means, through incubation,
for domestic, foreign and international private companies to become
part of a public entity in good standing, whose securities are
publicly traded. (www.ttiiob.com)
Safe Harbor Statement
This press release contains 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. These
forward-looking statements are based on the current plans and
expectations of management and are subject to a number of
uncertainties and risks that could significantly affect Tree Top's
current plans and expectations, as well as future results of
operations and financial condition. A more extensive listing of
risks and factors that may affect Tree Top's business prospects and
cause actual results to differ materially from those described in
the forward-looking statements can be found in the reports and
other documents filed by Tree Top with the Securities and Exchange
Commission. Tree Top undertakes no obligation to publicly update or
revise any forward-looking statements, whether as a result of new
information, future events or otherwise.
CONTACT: Kathy Griffin
President
Tree Top Industries, Inc.
310-601-4757
Kathy@ttiiob.com
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