VENTURA, Calif., June 10, 2010 (GLOBE NEWSWIRE) -- SGD Holdings, Ltd. (Pink Sheets:SGDH), owner of premier environmentally friendly paper manufacturer EcoPaper, today announced that the company is in receipt of its first payment after having successfully completed delivery of March, 2010 orders placed for company products in excess of $3 million, as reported in April, 2010.
This delivery results in total revenues of $3,262,788.20. The first payment was received in the amount of $617,502.71 with two subsequent payments anticipated in July, 2010 totaling $2,590,251.10.
"SGD Holdings and EcoPaper continue to be at the vanguard of a tree-free paper revolution," said Harry Johansing, CEO of SGD Holdings, Ltd. and its subsidiaries. "Our online sales and our U.S. wholesale accounts have both increased at an average of 20 percent per month. We are thrilled that our products increasingly set the bar for beautiful, sustainable, environmentally-friendly paper products designed for consumers and businesses throughout the world. "
The company also reports additional product orders totaling $1,115,096 which are anticipated to be delivered in August, 2010.
About SGD Holdings, LTD.
SGD Holdings, LTD. (Pink Sheets:SGDH) is a holding company which owns and operates, through its wholly-owned subsidiary, EcoPaper, Inc. (http://www.ecopaper.com.) Through internal research and development, as well as through acquisition, the company aspires to create and acquire new technologies, products and methodologies which have the potential to positively impact the environment. For more information regarding SGD Holdings, Ltd. e-mail ir@ecopaper.com.
About EcoPaper, Inc.
After developing an innovative and an economically feasible option for removing a portion of the more than 230,000 tons of agro-industrial waste generated annually by Costa Rica alone, EcoPaper, Inc. became among the first companies worldwide to create and implement processes for manufacturing and bringing to market tree-free, eco-friendly, beautiful, sustainable paper products of superior quality created from exotic tropical fibers. Founded by Harry Johansing, EcoPaper is proud that every sheet of EcoPaper product is smooth, acid-free, durable, chemical-free, and caringly manufactured. For more information regarding EcoPaper, Inc. visit www.EcoPaper.com or ir@ecopaper.com.
Forward-Looking Statements: The statements in the press release that relate to the Company's expectations with regard to the future impact on the Company's results from acquisitions or actions in development, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The statements in this document may also contain "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. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Forward-looking statements are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from those contained in such statements. Such risks, uncertainties, and factors include, but are not limited to, future capital needs, changes and delays in plans and schedules, or market acceptance. SGD Holdings, Ltd. undertakes no duty to update these forward-looking statements.