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NEWS RELEASE: January 19, 2010
Advanced Blast Protection, Inc. Assets to be Sold
Weston (FL) Advanced Blast Protection, Inc, (.ABP. or the .Debtor.) the Weston, Florida based armoring company that manufactures the RhinoRunner. Bus used by the U.S. Military in Iraq and Afghanistan, has obtained Bankruptcy Court Approval for the sale of all of its assets free and clear of all liabilities. These assets consist primarily of the trade names RhinoRunner and RhinoPAK; customer lists; technical data packages; drawing packages; vehicle and product designs; manufacturing processes and procedures, marketing materials, customer lists, product formulations and patent rights for One-Way TM Glass (the .Assets.). On a cumulative basis since 2004, there has been a cumulative investment in the Assets of in excess of $18 Million and they have generated in excess of $42 Million in sales.
The deadline for submission of written bids is 4:00 o.clock p.m. (Eastern Standard Time) on February 1, 2010. Interested parties may contact the Debtor through its counsel Leslie Gem Cloyd, Esq. with the firm of Berger Singerman, P.A., 350 East Las Olas Boulevard, Suite 1000, Fort Lauderdale, FL 33301 (Email: LCloyd@bergersingerman.com or Telephone: (954) 377-0414), to obtain information on the bidding procedures.
For more information, contact ABP CEO, Dr. Warren R. Phillips (301) 728-8183 WarrenRPhillips@msn.com
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Effective February 26, 2008, Advanced Blast Protection, Inc. ("ABP") purchased all of the assets of Labock Technologies, Inc. ("Labock") from Labock's former investment bankers after Labock defaulted on secured promissory notes placed by the investment bankers.
While ABP purchased all of Labock's assets, it specifically included all of Labock's products, intellectual property, technical data packages, know how and manufacturing capability. Part of the intellectual property purchased was Labock's internet domain and website.
ABP has set up a temporary site with all of Labock's product listings and capabilities. ABP's new website, which will include the former Labock products, is currently under construction and will ultimately replace this temporary site. |
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