SOURCE: Raptor Technology Group, Inc.

February 10, 2011 17:34 ET

Raptor Technology Group Provides Update on Audit & Financials

GROVELAND, FL--(Marketwire - February 10, 2011) - Raptor Technology Group, Inc., (OTCBB: RAPT) ("Raptor") today announced that the company has hired MaloneBailey, LLP to complete the 2009-2010 audit & financials for Raptor Fabrication & Equipment, Inc., the company's imminent operating subsidiary. The Company anticipates the completion on or before March 15, 2011.

"We will be pleased to finish this audit with MaloneBailey, LLP. We anticipate that after many years of research and development the company should announce profitability," said Tom Gleason, President of Raptor Technology Group. "Furthermore, we would like to move the company to a listing on a higher exchange as we move toward meeting the particular exchange criteria."

"Raptor promotes a state of the art technology in its business and we are pleased to represent them moving forward in this growth phase. Our responsibility is to assist the company in meeting its obligations to comply with all SEC reporting required in a timely manner," added John Malone, Founder and Partner of MaloneBailey, LLP.

About Raptor Technology Group, Inc.
Raptor Technology Group, Inc., who has signed an agreement with and will shortly close the acquisition of Raptor Fabrication & Equipment, Inc., is a technology supplier that provides eco-friendly and green solutions to global issues. The company is committed to developing reliable fuel and energy alternatives by making them both dependable and economically appealing to the manufacturer as well as the consumer. Additional proprietary technology has also been developed to recover rare earth minerals from endless miles of mine tailings. This technology provides an eco-friendly means of recycling these mine tailings both economically and profitably.

Raptor has positioned itself to become a leader in the biofuel and mining industries with their advanced proprietary biofuel production technology and mineral recovery technologies. Their constant drive for eco-friendly business solutions and economically profitable business models will secure Raptor as a leader in alternative energy and remediation sectors. 

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: The statements in this release relating to completion of the acquisition of Raptor Fabrication & Equipment, Inc. by Raptor Technology Group, Inc. and the positive direction are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Some or all of the results anticipated by these forward-looking statements may not occur. Factors that could cause or contribute to such differences include, but are not limited to, contractual difficulties which may arise, the failure to obtain necessary approvals, the future market price of Raptor Technology Group, Inc. common stock, the ability to obtain the necessary financing and the failure of Raptor Technology Group, Inc. to complete the acquisition of Raptor Fabrication & Equipment, Inc.

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