Business
Greene Concepts' President & CEO Announces Significant Progress Toward the Company's Long-Term Financial Goals
Greene Concepts' President & CEO Announces Significant Progress Toward the Company's Long-Term Financial Goals.
About this update from Greene Concepts, Inc.
[{"type":"text","content":"Greene Concepts Inc. (OTC Pink: INKW) is pleased to present significant end-of-year accomplishments for the year 2020 and major developments for substantial long-term growth in 2021.REPORT TO OUR SHAREHOLDERS:Despite 2020 being an incredibly challenging year for the country economically due to the COVID-19 pandemic, Greene Concepts was able to grow during this time frame following the successful launch of our bottling plant this past spring. I am pleased with the progress we achieved in executing on our strategic priorities. We have set a clear and bold path for Greene Concepts to be a premier provider of both bottled and industrial water supply. Furthermore, our water, sourced from the Blue Ridge Mountains of North Carolina, offers consumers one of the smoothest and best tasting water brands on the market.Be Water Artesian LogoTo view an enhanced version of this graphic, please visit:https://orders.newsfilecorp.com/files/6717/72625_ea7e1fdcc412ba8c_002full.jpgFINANCIAL HIGHLIGHTSWe made significant progress toward our long-term financial goals in 2020. Our sales volume over the last quarter alone totaled 34% higher than the entire FY 2019 revenues and over 3,000% higher than the same quarterly period in 2019. Besides our increase in sales, the box below highlights our increase in assets and net income over the past FY.Quarterly Report For Period Ending October 31, 2020. Sales for the quarter equal $101,022 vs. $3,249 for the same period in 2019. Total Assets for the quarter equals $4,380,881 versus $3,250,900 for the same period in 2019. Also, for the same period, the company earned a net income of $39,890 versus net loss of -$125,559 for the same quarter in 2019.Annual Report For the Twelve Months July 31, 2019 - July 31, 2020. Sales during the company's previous FY equaled $67,127.ACCOMPLISHMENTSWe achieved numerous accomplishments in 2020 to include:Launching our production plant in March 2020 following 16 months of plant restoration (up to 192 million bottle capacity '8 million cases' with current equipment) with room for additional capacity. This launch coincided with the national COVID-19 pandemic.Purchasing of the land surrounding the bottling plant to include seven production wells for unlimited water resource production capacity to include bottling and industrial water provision.Finalizing an agreement with the U.S. go...