SOURCE: Tree Top Industries, Inc.
NEW YORK, NY--(Marketwire - Aug 14, 2012) - Tree Top Industries, Inc. (OTCBB: TTII) is announcing that they have executed a $10 million line of credit from an International Hedge Fund that will directly aid in company growth.
Tree Top has executed this agreement in order to move forward with their previously announced two-fold business plan.
Mr. Reichman, CEO of TTII, states, "The terms that we have negotiated in this agreement are favorable to Tree Top Industries. We will now move forward in a manner beneficial to our company and our shareholders. This financing will enable our growth, allow us to retain key management staff, and work to deliver immediate value to our corporate entities. We look forward to working to deliver on the projects that we have discussed over the previous two years. One of our key criteria in executing this agreement was to ensure that our corporate management had control over the raising of funds, because we are interested in growing our company, shareholder value, and equity over the long term. This is not, nor will I ever bring toxic financing into this company, because we have worked too hard to let that happen. We wish to maintain shareholder trust, build long term equity, reduce impact of entities wishing to short our security, increase liquidity, and ultimately deliver on our many promises."
As previously announced, Tree Top Industries plans on utilizing funds received via this financing to enable growth as follows:
- Issue White Papers, patent applications, and finalize first round funding of our hazardous waste destruction technology. This product is being developed under our Bioenergy Applied Technologies, Inc. subsidiary.
- Execute the final acquisition of Adesso Biosciences.
- Pursue immediate opportunities for acquisition, investments, and strategic partners that impact TTII's balance sheet.
Early projections are not yet available for revenues from these entities, but the value derived from intellectual property should allow significant upside potential. As discussed on TTII's corporate web site located at http://www.ttiiob.com, there are approximately 600 million pounds of pharmaceutical waste generated yearly. Incineration costs $2.00 per pounds, and since our technology does not use incineration, the cost can be significantly reduced, bringing in the possibility of a significant revenue channel by tapping into this $1.2 billion opportunity.
Additional information related to our entities and future updates will be issued via the corporate web site.
About Tree Top Industries, Inc.
Tree Top Industries, Inc. (TTII) is a publicly traded, mini conglomerate, based in part on Teledyne's business model. Tree Top Technologies has subsidiaries and affiliates that include intellectual properties, proprietary systems, and trade secrets in the bioscience, nanoscience, clean tech, and global health technologies along with other emerging technologies and fields. Tree Top Industries current status and moving forward strategy is in the development stage actively acquiring companies & technologies using several different business paradigms, including exchange of stock, joint venture, and other partnership configurations. Corporate web site is located at http://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 the company'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 the company'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 the company with the Securities and Exchange Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.