Business
Green PolkaDot Box Secures Credit Line From Major Investor to Triple Inventory Levels and Increase Sales
Green PolkaDot Box Secures Credit Line From Major Investor to Triple Inventory Levels and Increase Sales.
About this update from Green Polkadot Box Inc
[{"type":"text","content":"\nMOUNT PLEASANT, Utah, Oct. 29, 2014 (GLOBE NEWSWIRE) -- Green PolkaDot Box Incorporated (OTC:GPDB) \"GPDB\" or \"Company\" announced today that T. Corl, one of its major investors and a principal in T&K Corl Investments, LLC, entered into an agreement with the Company to provide a million dollar credit line, increasing the Company's capacity to triple inventory levels in anticipation of increased sales.\n\n\tDue to its recent agreement with the world's leading online retailer and the pending launch of its national \"Health Merchant\" plan on December 1st, 2014, Green PolkaDot Box is preparing to sustain increasing sales by securing the credit line.\n\n\t\"There were periods in our history when we were able to maintain 11% compounded monthly growth or more in sales and achieve higher value sales per order because we operated at full inventory,\" says GPDB CEO Rod Smith. \"But in spite of our growth, in recent months, our operating deficits have eaten up the Company's working capital, making it difficult to sustain full inventory, resulting in a negative impact on sales and customer retention. This credit line will facilitate new growth and enable us to dedicate our other financial resources to achieve new strategic objectives.\"  \n\n\tGreen PolkaDot Box recently broke ground and installed anchor pins in preparation for erecting greenhouses for its first Living Produce Growing Center. Smith hopes to complete construction of this facility in early 2015. In addition, GPDB Management has identified a location for the establishment of its second distribution center in the eastern U.S., opening the way to reduce shipping times and ship frozen/refrigerated products to the customers of its retail marketing partners and GPDB members living in the east and Midwest, for the first time.\n\n\tAbout Green PolkaDot Box\n\n\tGreen PolkaDot Box is America's premier online membership club for organic and non-GMO natural foods at wholesale pricing. The Company leverages proprietary technology and products with its dynamic, interactive website and member relationship management software to provide a unique shopping and membership experience. For more information on Green PolkaDot Box, please visit: www.greenpolkadotbox.com.\n\n\tSafe Harbor Statement\n\n\tThis release includes forward-looking statements. These forward-look...