Legends Receives Preliminary Performance Test Results for Restorer Charger
November 28 2012 - 8:30AM
Marketwired
MIAMI, FL--(Marketwire - November
28, 2012) - Legends Business Group (PINKSHEETS: LGBS),
today announced the Restorer Chargers (RC) has been undergoing
performance testing over the last several weeks. Testing has been
completed by a third party testing facility and they have submitted
their preliminary testing report for review.
Legends is pleased to disclose the performance testing results
on the company's second product, the Restorer Chargers (RC); to be
added to the upcoming Zombie Chargers product line. On November 15,
2012 Legends announced it had authorized their main manufacturer to
research and obtain a third party testing facility thus keeping the
company at arm's length of the testing.
The Restore Charger's performance test was expected to verify
the claim that the Zombie Battery Restorer is capable of
reconditioning common discarded lead-acid batteries used mostly in
the automotive industry. The RC is designed to recover 12 V lead
acid batteries ranging from 4 Ah in capacity and above. The RC's
primary function is to restore mostly older, non-functioning
batteries, which will no longer take a charge using the standard
chargers available on the market today. Using proprietary
programming and pulse-charging techniques, this technology is
claimed to overcome several of the limitations of existing
technologies; the inability to reverse the negative effects of
early failure due to sulfation on a battery's plates and thus the
inability of restoring a battery to a like new status.
Based on the results of this investigation, the data shows
significant improvement in the capacity of restored lead-acid
batteries after being subjected to the Restore Charger. Overall,
the findings showed that eight out of the ten batteries taken
directly from the junkyard that were restored and tested, passed a
final load test with cold cranking amperage ratings, which were at
or above the manufactures represented value on the battery. While
it is outside of the scope of this investigation to determine the
long-term effects of the Zombie Restorer on the test batteries, a
qualitative third load test, conducted about two weeks later,
showed that the batteries still retained a substantial quantity of
their charge, and continued to give acceptable cold cranking
amperage values.
"Testing results from the Restorer Charger were over and above
with what the company expected," said Rudy Sablon, LGBS's President
and CEO. "We can't wait to show our shareholders and the public the
independent testing report itself." Legends will post these final
testing results for the Restorer Charger on the website in the next
week or so. Please Visit:
http://www.legendspower.com/current_projects.php
Initially performance testing was expected to be conducted on
the company's first announced product, the Multi-Function Charger
MFCC. Due to delays in finding and negotiating with an independent
testing facility, the MFCC's performance testing started after the
Restorer Charger. Testing has now started on the MFCC and the
company expects the test results will be out soon.
During the process of reviewing information for our audit, it
was found that there was an error in the Freely Tradable Shares
(Public Float). This information was corrected in Item VI
of the 2012 Third Quarter Narrative; Freely Tradable Shares (Public
Float) for Years 2010 - Current as posted on November 14, 2012 and
we would like to further clarify this change.
The company found that an error had occurred during the Annual
2010 report, which disclosed the Public Float at 1,124,215,000.
During the Public Float calculation prior management applied the
issuance of shares purchased from Intercontinental Systech, Inc.
merger and the majority ownership change to Rolando Sablon as
belonging to the public float figure in that 2010 Annual
Report.
This calculation was found to be incorrect as these shares were
restricted at the time of issue and still are, and should not have
been reflected in the Freely Tradable Shares (Public Float) figure
for that year. This item was discovered during the company's
current ongoing audit, and has now been corrected going forward.
Please see the company's financials and narrative for more
information.
One of Legends new undertakings is overall transparency to its
shareholders; visit our website under current projects to find
updates on the MFCC. Visit:
http://www.legendspower.com/current_projects.php
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.
Contact: Investor / Public Relations: Rodolfo
SablonPhone: 305-767-7993Email:
info@legendspower.comCorporate:Rodolfo SablonPhone:
305-767-7993Email: info@legendspower.com
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