SOURCE: Legends Business Group, Inc.
MIAMI, FL--(Marketwire - Sep 19, 2012) - Legends Business Group (PINKSHEETS: LGBS), the company who is bringing out the Multi-Function Charger Controller (MFCC), is pleased to recap recent milestones and its continued effort for overall transparency to its shareholders.
Operational and Financial Updates
Since the announcement of the MFCC Legends has been working hard to achieve the goals and tasks set forth in the company's past press releases over the last 3 months. Legends priorities have been to strengthen its company value, produce a sustaining presence in the energy market, and create revenue growth.
SEC Fully Reporting Audit:
In July, Legends announced its aspiration to become a fully reporting company with the Security and Exchange Commission (SEC). Part of this announcement was that Legends has retained an outside auditor to assist in the process. The audit is proceeding as planned and Legends has compiled its two-year financial package for review. With this underway, the deadline of meeting required filings, as a fully reporting bulletin board company by the end of the fourth Quarter 2012 appear to be on schedule.
Legends has been meticulous in choosing an independent company to test the efficiencies and performance of the MFCC. Legends has executed Non Disclosure Agreements (NDA) with multiple testing companies, but has been in final negotiations with one in particular. This company stands out among the rest with over 100 years of combined product testing experience. Legends is in final negotiations over testing cost estimates, and plans to secure an agreement. With the conclusion of the agreement Legends will provide the testing company the MFCC and begin performance testing right away with the results expected to be completed by mid October.
Legends recently announced that it has signed an agreement with a Florida-based engineering firm to manufacture the MFCC. "We are glad to announce that they have sent invoicing and are ready to start manufacturing the MFCC," said Rudy Sablon, LGBS's President and CEO. Under the agreement, the engineering firm has agreed to manufacture a minimum of 500 units over the next twelve months. Once manufacturing begins, Legends will gain an understanding of production time periods in an effort to announce the MFCC's release date. For updates, please visit: http://www.Zombiechargers.com/
Legends is in negotiations with multiple testing facilities to explore the possibility having the MFCC CE certified. "Having the MFCC certified to meet the European Union's (EU) health, safety, and environmental requirements would be a great achievement," said Rudy Sablon, LGBS's President and CEO. "We feel that the MFCC will easily pass the conformity assessment process, enabling Legends to market the MFCC domestically and throughout the world."
The European Commission describes the CE mark as a "passport" that allows manufacturers to trade industrial products freely within the internal market of the EU. The letters "CE" indicate that the manufacturer has undertaken all assessment procedures required for the product.
The MFCC is described as a state-of-the-art multi-function charging controller, which digitally and thermally adjusts continuously throughout its charging cycle. The device will automatically detect and charge 12, 24, 36, and 48VDC lead acid batteries utilizing complex charging algorithms in association with bi-directional feedback to attain the optimal charging sequence for each charging session.
About Legends Business Group
Legends Business Group, Inc. was incorporated in March 2006, and is a publicly traded company. The company has recently refocused its purpose and has moved itself into the alternative and exotic energy marketplace. For more information please visit: http://www.legendspower.com
Safe Harbor Statement
This report includes forward-looking statements covered by the Private Securities Litigation Reform Act of 1995. Because such statements deal with future events, they are subject to various risks and uncertainties and actual results for the fiscal year and beyond could differ materially from the Company's current expectations. Forward-looking statements are identified by words such as "anticipates," "projects," "expects," "plans," "intends," "believes," "estimates," "targets," and other similar expressions that indicate trends and future events. Factors that could cause the Company's results to differ materially from those expressed in forward-looking statements include, without limitation, variation in demand and acceptance of the Company's products and services, the frequency, magnitude and timing of paper and other raw-material-price changes, general business and economic conditions beyond the Company's control, timing of the completion and integration of acquisitions, the consequences of competitive factors in the marketplace, cost-containment strategies, and the Company's success in attracting and retaining key personnel. Additional information concerning factors that could cause actual results to differ materially from those projected is contained in the Company's filings. The Company undertakes no obligation to revise or update forward-looking statements as a result of new information since these statements may no longer be accurate or timely.