LadyBug is excited to complete the acquisition of MAG. Acquiring MAG gives us the opportunity to get in on the ground floor of the booming alternative energy vehicle market and strategically place us to capitalize on the Federal Government’s plan to transition portions of their gasoline mini-utility vehicles to electric, as well as compete for a portion of the potential USPS’ plan to retrofit their 146,000 delivery fleet to electric. MAG has already successfully retrofitted a USPS delivery truck to electric propulsion with predominantly US components at a cost substantially lower than the competition.

—Craig Barton, COO of LadyBug

LadyBug has appointed Thomas F. Krucker as CEO and Chairman of the Board. Krucker served with Toyota USA for 11 years and held national positions as IR Director and Import Director for the USA.

Mag International, Inc. (MAG), based in Fountain Valley, California, was founded in 2004 as a manufacturer and distributor of 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., headquartered in Kirkland, WA, acquires and licenses technologies, patents, patents-pending and trade secrets in the Energy, Health and Intellectual Property sectors.