NEW YORK and BELGRADE, Serbia, April 25, 2011 (GLOBE NEWSWIRE) -- Tree Top Industries, Inc. ("Tree Top") (OTCQB:TTII) and Sky Music Corporation doo ("SMC"), Sky Solutions doo ("SS"), and Adriatic Region Distribution doo ("ARD"), the three companies that, when combined, will form Sky Corporation ("Sky"), have entered into a term agreement, for the purpose of merging a subsidiary of Tree Top with Sky Corporation.
Kathy Griffin, President of Tree Top, stated, "Tree Top's management met the founder and President of SMC, SS and ARD, Milenko Skaric, and several of his top executives and consultants. Mr. Skaric stated that he intends to combine his three independent companies and form Sky in the near future. According to Mr. Skaric, Sky will then be the largest music equipment sales/rental and public event management and production company in South Eastern Europe. Mr. Skaric gave us a detailed description of the current operations of SMC, SS and ARD in Serbia and South East Europe. By merging Sky with a subsidiary of Tree Top which we will form for this purpose and utilizing one or more cash infusions, we believe that Sky will be in a position to expand throughout Europe under the leadership of Mr. Skaric who will be the Chairman of the Board of Directors and the Chief Executive Officer of Sky. Tree Top believes that Mr. Skaric's leadership will help Sky expand into new markets. The merger is also expected to give Sky further access to potential capital, needed to sustain continued growth, specifically into Western Europe."
Milenko Skaric, President of SMC, SS and ARD, stated, "Local markets are no longer sufficient to support the expansion and growth that SMC, SS and ARD have experienced. We are looking to expand our activities into Western European markets, where the cost of local labor and the higher prices could combine to present the ability to achieve higher profit margins. Our new online platforms are being produced now. They can be seen in their early stages on following link: ()"
AboutSky Music Corporation doo, Sky Solutions doo and Adriatic Region Distribution doo: SMC, SS and ARC are headquartered in Belgrade, Serbia. When the three companies are combined to form Sky, it will be the largest music equipment sales/rental and public event management and production company in South Eastern Europe. (Source:)
About Tree Top Industries, Inc.: Tree Top is a development stage company, moving to acquire companies that are in various stages of development. Tree Top uses several different paradigms, including stock exchange, joint venture, cash, and other partnership configurations. Tree Top is a publicly listed, independently audited company that offers structure, transparency, and growth potential through various business paradigms. Tree Top can provide the means, through incubation, for domestic, foreign and international private companies to become part of a public entity in good standing, whose securities are publicly traded. ()
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect Tree Top's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect Tree Top's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by Tree Top with the Securities and Exchange Commission. Tree Top undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: Kathy Griffin President Tree Top Industries, Inc. 310-601-4757 Kathy@ttiiob.com