VENTURA, Calif., July 30, 2010 (GLOBE NEWSWIRE) -- SGD Holdings, Ltd. (Pink Sheets:SGDH), owner of revolutionary tree-free paper manufacturer EcoPaper, today announced that the company is in receipt of the second and third scheduled payments associated with its successful fulfillment of orders placed for company products in excess of $3 million. The payments, as reported in June, 2010, were received on schedule for product delivered in the second quarter of 2010.
The payments resulted in total revenues of $3,262,788.20 for this delivery. As previously reported, the first payment in the amount of $617,502.71 was received in June, 2010. The second scheduled payment for delivered goods was in the amount of $910,485.45 and received by SGD Holdings on July 8, 2010. The third scheduled payment for delivered goods was in the amount of $1,679,075.75 and was received by SGD Holdings on July 13, 2010.
"We are enthusiastic about the continued growth and success of EcoPaper and EcoFriends," said Harry Johansing, CEO of SGD Holdings, Ltd. and its subsidiaries. "Our ability to reliably deliver unique and high-quality product lines in a timely manner, and to collect payment in a similarly timely manner, fortifies our position as a formidable force in the authentic tree-free paper industry, and further confirms the growing consumer confidence in our product lines and corporate culture."
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.