Business
Alkame Holdings Inc. Corporate Update
Alkame Holdings Inc. Corporate Update.
About this update from Alkame Holdings, Inc.
[{"type":"text","content":"\n LAS VEGAS, April 04, 2022 (GLOBE NEWSWIRE) -- Alkame Holdings, Inc. (OTC PINK: ALKM), is pleased to provide a corporate update. Valued shareholders, As the first quarter of 2022 has come to an end, we would like to take this opportunity to provide an update of what has been happening with our company since our last corporate update for the fourth quarter 2021.  There are several exciting and positive updates that we are pleased to share with you. As we mentioned in our last corporate update, one of our goals was to continue to reduce our corporate debt and we continue to do so. We recently settled a $500,000 + dispute over an equipment transaction for the West Salem Facility. We replaced that debt with a new third party $100,000 UCC-1 assumption on the equipment under the terms of our credit facility note. We also structured a deal to buyout $280,000 of equipment for the West Salem Facility and have already paid $100,000 towards that purchase. The remaining balance is to be paid by end of august 2022. Our corporate debt has been reduced by over $1,000,000 this past quarter. We continue to work hard to increase our revenues, enabling us an opportunity to further reduce our debts from cash flow. The heightened demand for Food & Beverage co-packing and contract manufacturing line time space currently plays very well for us. With line time scarce in the industry, we are in a unique situation to be selective in the inquiries that we continue to receive from small to medium size companies, to even large major household name brands. This leads us to another of our corporate goals of increasing our revenues and cash flow situation to further reduce debt obligations. We made major changes to our operational model this year. We no longer act as the “bank” for our customers or clients. Previously, we were purchasing our clients supplies and ingredients which constantly put a strain on our cash flow. While we will forgo top line revenue, our commitment to bottom line revenue will increase as we no longer need to finance the materials and ingredients for our clients. We still provide our clients with assistance in the sourcing and procurement with our vendors for the purchasing of these items, we no longer have to outlay the cash for those purchases. At the end of last year we established a $1,000,000 credit...