NEW YORK, Jan. 7, 2011 (GLOBE NEWSWIRE) -- Tree Top Industries, Inc. ("Tree Top") (OTCBB:TTII) is in serious discussion with several prospective investment partners, including Convergex Caribbean. Tree Top's plan is to facilitate and complete the acquisition within ninety days, of 50% of the issued and outstanding capital stock of Jewelry Repair Enterprises, Inc. ("JRE"), a jewelry and watch repair franchising company based in Delray Beach, FL, by working with an investment partner like Convergex Caribbean.
Kathy Griffin, President of Tree Top, stated: "Tree Top has been working tirelessly on the initiative to bring JRE into the Tree Top family of emerging technologies and growing companies. JRE would bring revenue, cash flow, and a solid business plan to Tree Top. JRE recently ranked number 17 in the 2010 List of the Top Fifty Mid-size Franchises, according to Franchise Business Review, (). JRE does business as FAST-FIX Jewelry and Watch Repairs. We have reached out to several prospective partners whose investor base and business model are closely in line with the goals that we have set for this initiative and for the continued growth of Tree Top."
CONVERGEX CARIBBEAN, based in Prince Frederick, MD and Nassau, Bahamas, is a financial services company in business for eleven years, with a global reach and immediate access to capital, primarily private, off-shore funding. Convergex works with clients by invitation only, after in-depth review of business plans and scrutiny of pertinent documentation. Convergex's clients include those seeking to make acquisitions, mergers, leveraged buy-outs, restructures, as well as start-ups and businesses with rapid growth potential. ()
, headquartered in Delray Beach, Florida, is the world's largest franchiser of jewelry and watch repair services () with 157 franchised locations, doing over $55 million dollars in sales in 2009. Established in 1984, FAST-FIX has a system for delivering fast, efficient, professional repair work on jewelry and watches for men and women. The company has been in business for 27 years and has exhibited positive growth every year for the past 26 years. They have begun reaching into international markets, with recent franchise openings in Canada, the UK and Ireland. Plans for 2011 include possible franchise openings in Malaysia, Dubai and India. Their business model is proven, with its primary revenue and growth coming from mall-based, high margin franchises that are relatively uncomplicated to start-up and straightforward to maintain.
FAST-FIX stores are located primarily in inline stores, as well as visible kiosks in regional shopping malls across North America, Canada, the UK, and Ireland. FAST-FIX offers a wide range of repairs such as: watch repairs, jewelry repairs, chain soldering, remounting, ring sizing, eyeglass repairs and engraving, in addition to replacing watch, mobile phone, and PDA batteries. FAST-FIX also is able to service PDAs for simple repairs, such as replacing screens. A typical franchised center also sells jewelry cleaners, watchbands, mountings, loose stones and engravable giftware.
subsidiaries and affiliates include clean-tech energy, bio-energy, and green energy solutions and health care companies. Tree Top is an early stage company that is animating its subsidiaries and affiliates concurrently, as it simultaneously moves to acquire companies that are in various stages of development. www.ttiiob.com
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Enterprises Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Enterprises Commission. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Kathy Griffin President Tree Top Industries, Inc. 310-601-4757 Kathy@ttiiob.com
