ASHBURN, Va., June 29, 2010 (GLOBE NEWSWIRE) -- Red Branch Technologies, Inc. (Pink Sheets:RBTI) announced today an LOI agreement with Forza Global Partners, LLC (FGP), a Virginia Company headquartered out of Fredericksburg. Forza Global Partners is a wholly owned subsidiary of The Forza Group, Inc. (TFG), a Delaware Corporation. The intent is to acquire 25% of FGP.
TFG is a Service Disabled Veteran Owned Small Business (SDVOSB) and a global solution provider of products and services to the defense and security markets. Their core competencies include global professional security services and program support to government and corporate clients, advanced electronic and mechanical security design and application and complete licensing and value added reseller agreements for more than 50 companies worldwide. For more information, please visit www.tripointsworld.com.
Through their subsidiary Immersive Media Tactical Solutions, LLC (IMTS), TFG has pioneered a variety of unique products and services oriented towards the collection, processing, exploitation and dissemination of immersive (360 degree), full motion video, Terrestrial Intelligence, Surveillance and Reconnaissance (TISR™) information. IMTS is actively engaged in applied research and advanced technology development that will lead to fielding these important capabilities for agencies involved in border protection, homeland security and Overseas Contingency Operations (OCO). For more information, please visit www.imtsworld.com.
The agreement is contingent on formal approval by the Governing Board of Directors of the respective organizations.
About Red Branch Technologies, Inc.:
Red Branch Technologies provides sustainable-energy-powered solutions meeting commercial, industrial, municipal and federal requirements for site security, materials control, emergency communications, water purification and similar on-site applications. The company's ability to simultaneously manage multiple renewable energy sources allows Red Branch Technologies powered solutions to stay up and running longer than the competition. Mobility is another differentiating aspect of Red Branch Technologies' solutions.
The company also offers a unique set of security products for military and law enforcement applications where cost/performance represents a critical selection factor. The application areas include Explosive Ordinance Disposal (EOD) robots, vehicular inspection and Unmanned Aerial Vehicles (UAVs).
More detailed information can be found at www.RedBranchTech.com.
Safe Harbor: This letter contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that all forward-looking statements involve risks and uncertainty, including without limitation, the ability of the Company to successfully implement its turnaround strategy, changes in costs of raw materials, labor, and employee benefits, as well as general market conditions, competition and pricing. Although the Company believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this letter will prove to be accurate. In light of the significant uncertainties inherent in the forward-looking statements included herein, the inclusion of such information should not be regarded as representation by the Company or any other person that the objectives and plans of the Company will be achieved. In assessing forward-looking statements included herein, readers are urged to carefully read those statements. When used in the Annual Report on Form 10-K, the words "estimate," "anticipate," "expect," "believe," and similar expressions are intended to be forward-looking statements.