PALMETTO, FL — (Marketwired) — 12/13/16 — American Fiber Optics Group, Inc. (a wholly owned subsidiary of Capstone Technologies Group Inc. (OTC PINK: CBLY) is proud and excited to announce that financing has been secured through its parent company, for site acquisition, build-out and to equip a state-of-the-art manufacturing facility in the Detroit, Michigan area. This new entity will address the shortage in the marketplace for Fiber Optics Cable, initially in the USA and eventually worldwide.
CEO Clinton L. Stokes III is quoted as saying, “This is a great day and the dawning of a New Year which is right in line with the new Administration–s promise to create new American jobs. This new high technology facility in the Detroit, Michigan area, which has seen a mass exodus of manufacturing jobs from the country, will bring hundreds of construction and permanent, high paying manufacturing jobs back to the Motor City.”
COO Ken Mayeaux stated, “The technology that will be used at the American Fiber Optics Group plant will be the best currently available process for producing fiber optics cable anywhere in the world. Our goal is to be the technology leader in this field and provide technical and skilled American jobs to support the high demand for our products as America rebuilds its infrastructure, and to show the world that — still means something.”
This announcement comes at a perfect time, as America begins to turn the corner and once again become competitive with the rest of the world as a manufacturing leader. American Fiber Optics Group will continue to expand its footprint within the USA as demand for its product increases. Current growth of the multi-billion dollar Fiber Optics market is in excess of 11% per year, with that number expected to rise, as fiber optics cable makes its way into developing countries worldwide. Since announcing this project, potential clients have been lining up to secure American Fiber Optics Group–s finished products.
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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.
Investor Contact:
Capstone Technologies Group, Inc.
(888) 676-4138
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