SOURCE: IO NewsWire

November 29, 2012 09:00 ET

Legends Business Group Receives Test Results for Their Restorer Charger

NOTE TO EDITORS: The Following Is an Investment Opinion Issued by the IO NewsWire

Testing Results From the Restorer Charger Were Over and Above What the Company Expected

Audit Discovers 700 Million Shares in Float as Non-Exsistant and Has Corrected the Error on Financial Statements to Show the Reduction

NEW YORK, NY--(Marketwire - Nov 29, 2012) - Legends Business Group (PINKSHEETS: LGBS), announced yesterday that their Restorer Chargers (RC) has been undergoing performance testing over the last several weeks. Testing has been completed by a third party testing facility and they have submitted their preliminary testing report for review.

The Restore Charger's performance test was expected to verify the claim that the Zombie Battery Restorer is capable of reconditioning common discarded lead-acid batteries used mostly in the automotive industry. The RC is designed to recover 12 V lead acid batteries ranging from 4 Ah in capacity and above. The RC's primary function is to restore mostly older, non-functioning batteries, which will no longer take a charge using the standard chargers available on the market today. Using proprietary programming and pulse-charging techniques, this technology is claimed to overcome several of the limitations of existing technologies; the inability to reverse the negative effects of early failure due to sulfation on a battery's plates and thus the inability of restoring a battery to a like new status.

"Testing results from the Restorer Charger were over and above with what the company expected," said Rudy Sablon, LGBS's President and CEO. Legends will post these final testing results for the Restorer Charger on the website in the next week or so.

During the process of reviewing information for their audit, it was found that there was an error in the Freely Tradable Shares (Public Float). This information was corrected in Item VI of the 2012 Third Quarter Narrative; Freely Tradable Shares (Public Float) for Years 2010 The company found that an error had occurred during the Annual 2010 report, which disclosed the Public Float at 1,124,215,000. During the Public Float calculation prior management applied the issuance of shares purchased from Intercontinental Systech, Inc merger and the majority ownership change to Rolando Sablon as belonging to the public float figure in that 2010 Annual Report. This calculation was found to be incorrect as these shares were restricted at the time of issue and still are.

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