IRVINE, CA — (Marketwired) — 04/04/17 — (OTC PINK: CBLY), through its subsidiary, American Fiber Optics Group, Inc. (AFO), has announced that it has everything in place for Phase 1 of the new Capstone Technologies Group 20 million km optical fiber production facility being created for AFO that will be located in Roanoke, VA. The new site location has been secured which houses the existing facility where the new plant will be built. The company is adding to its support and engineering staff to accommodate this growth and has fabrication of production equipment slated to begin in the Summer of 2017.
The production equipment for Phase 1 is scheduled for completion and installation in the 2nd Quarter of 2018, with subsequent production to follow shortly in the Summer of 2018. This first phase of the operations of AFO is expected to yield an annual revenue of $20 Million. Subsequent to this first phase, AFO will continue to increase its production capability and is currently targeting annual revenues of $80 million from this production facility.
Capstone CEO, Clinton Stokes, III, is quoted as saying, “Now that everything is in place for AFO–s new production facility, we will be fast tracking this project so that we can begin production ASAP which will validate our processes and increase our ability to promote and expand our State-of-the-Art Technology. The Fiber Optic market is ripe for high quality fiber optic cable and we intend to capitalize on that as the market leader.”
Capstone CTO, Wesley Poff, added, “We are very excited to be moving forward on schedule to bring this great technology to the marketplace. Our planning for this new production facility has been optimized so that we will be ready to hit the deck running as soon as the new machines have completed operational and quality control testing. We fully expect to come online ahead of schedule and begin generating revenues sooner rather than later.”
Capstone Technologies Group, Inc. is very anxious to start down the path that will enable it to fulfill its goal of making American Fiber Optics Group, Inc. one of the premier names amongst Fiber Optic Cable producers in the world. Capstone has done its research and prepared well for this day. The company is now ready to turn its plans into reality.
Capstone Technologies Group is perfectly affixed as the Top Structure of a growing list of visionary technology companies, destined to change the world in which we live by taking up the challenge of making the USA the manufacturing giant it once enjoyed. We believe in the strength and ingenuity of the American manufacturing market and the people that are dedicated to bring the best of new technologies to the marketplace, right here in the place where the manufacturing industry was born. We will take the existing foundation and history of American greatness and integrate that with advances in technology, to bring to worldwide consumers those leading edge products they demand.
Capstone is focused on forward looking entities that have distinguished themselves as leaders in their fields and are looking for investment and leadership to move their vision to fruition. We can bring forth the financial, logistical and outside the box thinking to develop a succinct and streamlined path to market.
This press release may contain forward looking statements and or observations which are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues as well as any payment of dividends on our stock, statements related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties include but not limited to information as contained within the Company–s most current quarterly reports, annual reports, and or other such filings as may be accessed through the OTCBB website. Furthermore, the Company disclaims any intention or obligation to update or revise any such forward looking statements, whether as a result of new information, future events, or otherwise. We have incurred and will continue to incur significant expenses in our expansion of our existing as well as new product lines noting there is no assurance that we will generate enough revenues to offset those costs. Additional product offerings may expose us to additional legal and regulatory costs and unknown exposure(s) based upon the variables as associated with the general business channel we are operating in, the impact of which cannot be predicted at this time including risks as associated with our product and recent FDA pronouncements. Additionally, our 1-A registration statement will generate additional free trading shares to the marketplace at a pre-determined price which may impact our share pricing within the OTC marketplace in a manner that we cannot predict.
You must be logged in to post a comment Login