Shareholders of record will receive 1 share of New Solar and Inner Path for every 10 shares of LadyBug. Additionally, on November 1, 2010, LadyBug acquired controlling interest of Mag International, Inc. (MAG), a leader in gasoline and electric mini-utility vehicles with $12.4 Million in sales since 2008.
Inner Path Health Corporation, which recently announced the signing of an exclusive 20-year licensing agreement for the worldwide sales and sub-license rights for a line of 170 health, cosmetic and hair care products, is in the process of arranging US manufacturing for its product line. The Company is focused on building sales in China, North America and formulating exclusive products for the multi-level industry.
New Solar Electricity is developing its novel solar concentrator called "Solar Tracer" to potentially capitalize on the multi-billion dollar global solar market. Solar Tracer will use concentrating solar power technology to capture energy from the sun and transfer it in the form of heat to run steam turbine generators. The company believes that Solar Tracer will exceed the performance of the current generation of linear concentrator systems.
There are an anticipated 5 stages to the development of Solar Tracer, with Phase One complete as of September 30, 2010.
Phase One: Reflectivity testing of various surface materials to be added to future substrate collector structure. Goal is to find a surface material that provides the highest reflectivity at the lowest cost.
Phase Two: Testing and development of prototype substrate collector structure. Testing will include sunlight capture and reflectivity efficiency testing on variations of parabolic shape and curvature.
Status: Currently in testing.
Phase Three: Testing and development of innovative collection tube with goal to improve sunlight capture while reducing "Tracking" movements and costs. Collection tube is being developed with the intention to proprietize the tube once proven and complete.
Phase Four: Integration of collection tube/ collection device with substrate collector structure and proceeding to full prototype testing.
Phase Five: Upon successful completion of full prototype testing and results, New Solar intends to begin marketing Solar Tracer worldwide for licensing.
Mag International, Inc. (MAG), based in Fountain Valley, California, was founded in 2004 as a manufacturer and distributor of quality and innovatively-designed mini-utility vehicles and accessories. MAG has also developed a proprietary conversion kit to electrify postal vehicles, which it will offer in 2011 along with its complete line of all-electric, E85 and Gasoline utility vehicles and parts.
LadyBug Resource Group Inc. (OTCBB:LBRG), headquartered in Kirkland, WA, acquires and licenses breakthrough technologies, patents, patents-pending and trade secrets in the Energy, Health and Intellectual Property sectors.