MIAMI BEACH, Fla., March 25, 2011 (GLOBE NEWSWIRE) -- Legends Business Group (Pink Sheets:LGBS) announced today that development has now been started on two of five variations of alternative energy products that Legends Power had been working on with its own research in conjunction with a Florida-based engineering firm.
The Company recently announced that while it continues acquisition talks with the firm, it has engaged that firm to perform parallel research and development of alternative energy products.
"The Florida-based engineering firm has been an acquisition target of Legends Power for several weeks," said Rolando Sablon, president of Legends Power. "The firm currently designs, develops and manufactures a variation of electronic systems and components for clients including one major amusement park with locations in Florida and California. As part of our non-disclosure agreement we have agreed to withhold the name of the firm until an acquisition Letter of Intent is in place."
Sablon said the devices under development are one of each technical variation encompassing an analog and a digital based solution. Due to the possibility of future patentability of the devices, the engineering firm will perform their reviews and possible redesigns under a mutual confidentiality agreement. Sablon said that he expects this to be a large step forward in Legend Powers progress by releasing to a third party the details of their research so far.
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
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