IRVINE, CA--(NewMediaWire - Apr 4, 2017)
- CAPSTONE TECHNOLOGIES GROUP,
INC. (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.
ABOUT CAPSTONE TECHNOLOGIES GROUP
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.
Safe Harbor Statement:
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.
