SGD Holdings Announces Posting of 2nd Quarter, 2012 And the Reduction of Debt
VENTURA, Calif., Sept. 17, 2012 /PRNewswire/ -- SGD Holdings Ltd., (OTCBB: Pink Sheets-SGDH), EcoPaper.com, a wholly-owned subsidiary of a SGD Holdings announces today that the Company has posted its 2nd quarter financials on www.otcmarkets.com.
Harry Johansing, CEO comments, "The Company was able to renegotiate its interest rates to an effective rate of 8%, per annum, and the due dates were extended on a majority of the convertible promissory notes with the note holder whereby reducing the interest costs saving the Company $94,330.00.
In an ongoing effort to reduce liabilities and strengthen the Company's balance sheet, I personally exchanged $200,000.00 of debt to equity by the issuance of 31,496,062 shares of restricted common stock.
The Company revenues have increased to $46,817 an increase of $7,488 or approximately 19% for the quarter ending June 30, 2012 versus the same quarter in calendar year 2011."
Johansing further comments, "We have made great strides in getting our brand in the corporate world regarding our eco-friendly paper products and are zeroing in on landing several key contracts in this calendar year, 2012."
More information is available about SGD Holdings Ltd., its products and its operating subsidiary, Ecopaper, Inc., at www.Ecopaper.com.
ABOUT SGD HOLDINGS LTD.:
SGD Holdings, LTD. (OTCBB: Pink Sheets-SGDH). In 1989, Eco Paper, Inc. traveled to Costa Rica and began the transformation away from tree used products and created a way to use post consumer and agricultural waste as paper using no chemicals, less water, and inks made from vegetable oil and soy. Less harmful to the environment and is petroleum free, Banana paper was born. EcoPaper, Inc. and Costa Rica Natural Paper now produce 100%, tree-free, acid-free, eco natural paper and paper products from all natural fibers. We use fibers from banana, coffee, hemp, lemon and other exotic tropical agro-industrial wastes thereby reducing the need of destroying our trees around the world.
Product Mission: We make, distribute, and sell only the finest environmental papers. We are continually committed to the use of wholesome natural ingredients, and we promote business practices that respect humanity, Earth, and the environment. We strive to minimize, and eventually counteract, any negative impact on the environment.
With the respect of all that surrounds us, Eco Paper and our natural sustainable banana paper products use the best available, least impactful technology to create for you, the consumer an environmentally friendly product that we all can be proud of.
The Company encourages the public to read the above information in conjunction with its year-end statement for December 31, 2011, and the quarterly statements filed in calendar year 2012 and 2011, at www.OTC Markets.com.
The information contained in this press release may include forward-looking statements. Forward-looking statements usually contain the words "may," "could," "possibly," "feel," "estimate," "anticipate," "believe," "expect," or similar expressions that involve risks and uncertainties. These risks and uncertainties include the Company's uncertain profitability, need for significant capital, uncertainty concerning market acceptance of its services, competition, limited service facilities, dependence on technological developments and protection of its intellectual property. The Company's actual results could differ materially from those discussed herein.
SGD Holdings, Ltd.
SOURCE SGD Holdings Ltd.