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Green Bridge Industries, Inc. Increases Assets for the First Quarter by Over 55%

^{Published on 2010-05-25 10:45:26 - Market Wire}
 

RIDGEWOOD, NJ--(Marketwire - May 25, 2010) - Green Bridge Industries, Inc. (PINKSHEETS: [ GRBG ]) is pleased to announce that the Company has increased its total assets for the first quarter of 2010 by over $800 Thousand. This was achieved through various key acquisitions, in the multi-billion dollar "green" industry, made by Green Bridge Industries in the first quarter of the year. The Company reported a 55% increase in total assets for the quarter ending March 31, 2010 versus the last quarter of 2009. Green Bridge Industries posted its quarter ending March 31, 2010 financial statements on Pink Sheets.com ([ http://www.pinksheets.com/pink/quote/quote.jsp?symbol=GRBG ]). The Company reported $2,276,130 in total assets for the quarter ending March 31, 2010 as compared to $1,469,127 in quarter ending December 31, 2009. The financial statements do not include revenues from the Fusion and BDST acquisitions.

Green Bridge Industries reported total sales of $36,048 for the first quarter ended March 31, 2010. In February, Green Bridge announced the acquisition of Organic Product Solutions (OPS), a provider of clean technology solutions for the industrial/commercial, household and wastewater segments. OPS brings immediate revenue to the Company through its continued relationship with a leading industrial product supplier. OPS has developed a product line of industrial and household cleaning products under the private labeled name Natures Solution™. Coca-Cola Enterprises, Merrill Lynch and the United States Postal Service®, as part of their "green initiative," are using the Natures Solution™ product line.

Green Bridge announced on March 30, 2010 that the Company has acquired 50% ownership of Fusion Incorporated and BDST Leasing LLC, which in 2009 generated over $2 million in revenue and has assets exceeding $1.2 million. Fusion Incorporated concentrates on producing a variety of cleaning brushes and sponge mops for OEM companies who market them as part of their product line. The company produces its brushes for Rubbermaid®, O'Cedar, Resolve, Kiwi, amongst others. Green Bridge has the option to acquire the remaining 50% of Fusion and BDST for a combination cash and stock.

"We are very excited about the financial progress Green Bridge Industries, Inc. has achieved during first quarter, as well as our ability to begin the implementation of our business model. With the acquisition of Organic Product Solutions and Brightside Products, we expect revenues and operating income to grow steadily each quarter," stated David Gubb President and CEO of Green Bridge Industries, Inc.

The Company recently announced that its wholly owned subsidiary, Brightside Products LLC., is offering individuals and organizations a chance to aid in the Gulf Oil Spill recovery efforts with a Green Beast™ product match promotion. Brightside Products kicked off the Green Beast™ promotion today, which gives customers a chance to help when they buy one eco-friendly Green Beast™ cleaning product; a second cleaning product will be donated to organizations involved in the clean up. In addition, the Company plans to donate 10% of each purchase to charitable organizations that are currently assisting in the Gulf Oil Spill relief efforts. The Green Beast™ product line is available for purchase at [ www.GreenBeast.net ].

To view Green Bridge Industries, Inc.'s most recent filings with Pink Sheets, please go to: [ http://www.pinksheets.com/pink/quote/quote.jsp?symbol=GRBG ].

About Green Bridge Industries, Inc.:

Green Bridge Industries, Inc. offers non-toxic, environmentally friendly cleaning products to fit the sanitation needs of the medical, agricultural, military, and retail markets. The Company, through its proprietary technology, has the ability to develop bio-renewable alternative cleaning products, which are superior to the synthetic products currently offered in the marketplace. The Company's products are safe for the surfaces it cleans, the environment, animals and humans. For more information on Green Bridge Industries, visit: [ http://www.greenbridgeindustries.com/ ].

Safe Harbor Act: This release includes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions, and the ability to attract and retain skilled personnel. The Company is not obligated to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.