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LETTER TO SHAREHOLDERS
September 23, 2009
Dear Fellow Shareholders:
It has been some time since we have been in a position
to communicate an update. We are finally able to discuss
our progress during the past few months.
Market conditions have kept us from moving our business
forward as we had planned and a Banco Panamericano (“Banco”)
Citation issued by a Federal court in Illinois has prevented
CSMG from using its assets or bank accounts since January
of this year, making it difficult to operate the company.
We have been able to stay in business by using non-corporate
funds from our Board members and officers to pay critical
expenses.
On September 22, 2009, Donald S. Robbins, President
of CSMG, personally acquired the judgment that Banco
had against CSMG as part of a settlement that will be
disclosed in a Form 8-K filing in the next few days.
Robbins now owns the Banco judgment against CSMG which
is superior to any other judgment against CSMG (refer
to SEC 8K filing of September 23, 2009).
Due to poor market conditions and funding shortages,
we laid off personnel and closed down the Santa Barbara
LTC office. We were able to maintain our LTC assets,
and patents primarily through loans from our officers
and directors. We are working with consultants, negotiating
with a number of medical device companies, medical instrument
makers and bankers. We do not expect revenues by the
end of this year.
We believe that our outlook for the future is positive,
and as is the case with many companies right now, we
simply need to work through current conditions. We believe
that the opportunities for funding are improving. We
made it a priority to preserve the critical assets of
the company to take advantage of a better financing
environment, and we have been successful in accomplishing
this.
Our Carbon Capture Technology, Inc. project is moving
along, and we believe this will also be a key component
of CSMG’s future.
Sincerely,
Donald S. Robbins
About CSMG Technologies, Inc.
CSMG Technologies, Inc. PINKSHEETS:(CTGI) together
with its subsidiaries, operates as a technology management
company. The company engages in owning, developing,
patenting, managing, licensing, and marketing technologies.
Subsidiary Live Tissue Connect (LTC) provides live
biological tissue bonding technology that focuses on
bonding living soft biological tissue used in surgical
procedures, without the use of sutures, staples, sealants,
or glues.
In June 2008, CSMG acquired Carbon Capture Technologies
Inc. which owns a worldwide exclusive license to a composition
and method for use of a novel Carbon Dioxide (CO2) adsorbent.
Researchers at the University of Ottawa developed recyclable
CO2 adsorbents based on surface modified nanoporous
silicas. The materials show fast and reversible high
adsorption capacity, allowing it to be reused repeatedly
in a high throughput periodic cyclic adsorption process.
The adsorbents can be used in both wet and dry environments,
potentially eliminating significant engineering challenges.
The potential uses for the technology include capturing
the bulk of C02 emissions from coal-fired power plants
in order that these greenhouse gasses could be sequestered
and thus reduce the carbon footprint of such facilities,
as well as surgical and mine rescue applications.
CSMG was incorporated in 1992 and is headquartered
in Corpus Christi, Texas.
About Live Tissue Connect
LTC received this July, U.S. FDA 510(k) clearance to
market its LTC VAD System for Duct and Vessel sealing
in the United States, and this month was awarded CE
Mark (Conformité Europèéne) certification
for its Bipolar Forceps by BSI Product Services in its
capacity as Notified Body for the Council Directive
93/42/EEC, allowing LTC to market in the European Union.
LTC's surgical tissue bonding / welding device is a
patented platform technology that bonds and reconnects
human soft tissue through fusion, in contrast with conventional
wound closing devices such as sutures, staples, sealant,
or glues. LTC currently holds a total of approximately
31 patents and pending patents in the U.S., Australia,
Canada, European Union, Ukraine and other countries
For further information on CSMG Technologies and its various subsidiaries, please visit our website at www.csmgtechinternational.com.
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This press release may contain forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934 as amended (the Exchange Act), including all statements that are not statements of historical fact regarding the intent, belief or current expectations of the company, its directors or its officers with respect to, among other things: (i) the company's financing plans; (ii) trends affecting the company's financial condition or results of operations; (iii) the company's growth strategy and operating strategy; and (iv) the declaration and payment of dividends. The words "may," "would," "will," "expect," "estimate," "anticipate," "believe," "intend" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the company's ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors.
CONTACT:
CSMG Technologies, Inc.
Donald S. Robbins, 361-887-7546
President and CEO
or
K. Bruce Jones, 770-955-0409
Newsletter Archive:
September 22, 2008
August 7, 2008
June 30, 2008
May 20, 2008
September 19, 2007
November 29, 2006
August 3, 2006
February 16, 2006
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