Eco Building Products, Inc. (OTCPINK: ECOB) saw its share volume skyrocket on June 4th with 112,557,230 shares exchanging hands, more than three times higher than its three month daily average volume of 32,554,190 shares.
Eco Building Products, a manufacturer of treated wood products that are protected against fire, mold/mycotoxins, fungus, rot-decay, wood ingesting insects and termites by its proprietary eco-friendly WoodSurfaceFilm(tm) and FireResistantCoating(tm) technology (collectively "Eco Red Shield(tm)"), today announced it has entered into definitive agreements for up to $3.4M in financing to support filling a backlog in purchase orders from Major Big Box Customer and to increase production capacity at its manufacturing facilities stemming from a growing demand for Eco Red Shield treated lumber at its Major Customer following a successful Second Pilot commercial launch program.
Under the terms of the agreements, the Company will receive up to $1.4M in capital in equal installments of $350,000 over the next four months, to support the filling of backlogged orders and meet increasing demand for Eco Red Shield, with the goal of reaching sales of $1.5M in the fourth month, which will potentially put the Company in a cash flow positive position. Concurrently, the Company received equity financing of $800,000 in two tranches to support the expansion in production capacity at its core manufacturing facilities from $750,000 in production capacity per month to $2,000,000 per month, as well as retire approximately $300,000 in convertible debt financing previously entered into on unfavorable terms. In addition, the Company will enter into an expandable revolving credit facility agreement for $1.2M to support its supply chain that will allow the Company to confidently increase its marketing efforts and demonstrate long term sustainability to its Major Big Box Customer.
"This funding represents a transformational milestone for the Company from a revenue growth and sales trajectory standpoint," said Steven Conboy, President & CEO of Eco Building Products. "We now have the capital needed to meet a recent dramatic increase in demand for Eco Red Shield from our Major Big Box Customer, who is now in a position to begin aggressively marketing our product to its massive customer base as an optimized solution to meet key unmet needs in the $60B North American lumber industry. We have positioned ourselves extremely well to meet an expected continued surge in demand for fire-resistant and mold-resistant lumber in the new construction industry, especially in light of recent wildfires in San Diego County and mold-related housing condemnations following Hurricane Sandy in New Jersey and Long Island. We believe Eco Red Shield has the potential to replace existing entrenched chemical products in the wood treatment industry, with the potential to reach over $1B in sales."
ECOB closed the day at $.0034.
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QED Connect, Inc. Completes Filings And Is Now Listed As OTC Pink Current Information
QED Connect, Inc. (OTCPINK: QEDN) saw its share volume explode on June 4th with 11,799,836 shares exchanging hands, 11 times higher than its three month daily average volume of 1,046,387 shares.
This uptick in volume comes after QED Connect announced that they completed its filings for its year end 2013 and the first quarter 2014 to be in full compliance with its disclosures and financials as required by the OTC Markets guidelines. QED's status on OTC Markets is now listed as OTC Pink Current Information.
Currently, the Company's wholly owned subsidiary, Emerald Med Farms LLC, has a marijuana crop in the process of maturing that is expected to be ready within the next 30 to 45 days for harvesting. The current crop is estimated to yield between 3 and 4 pounds per plant and, upon the successful harvesting of these strains of marijuana, the product will be distributed through a Cooperative of California medical dispensaries.
The marijuana plants are from two strains: 1) The OG Kush Strain which was originally from Northern California and has quickly become known around the world for its distinct aroma and strong effects. The OG Kush strain is one of the most popular medical marijuana strains grown and sold by dispensaries today. 2) Sour Diesel Strain which is named after its pungent, diesel-like aroma. This fast-acting strain delivers energizing, dreamy cerebral effects that provides stress, pain, and depression relief and provides long-lasting relief making it a top choice among medical patients.
Steven Amato, Sr., General Manager and VP Operations of Emerald Med Farms, commented, "We are thrilled to be seeing our business plan come to life and, with the harvesting of the initial crop, be in position to complete its first phase. This is a very exciting time in the medical marijuana industry as it is continuing to evolve and, potentially, be accepted in all 50 states. How and what is being produced will probably become regulated much as the alcohol and cigarette industry. This will most likely require meeting approved standards for the method of growing and preparation of the marijuana. Emerald Med Farms is committed to be a leading provider of top quality cannabis plants and will be investing in the development of new and improved strains."
QEDN closed the day at $.038, 76.74% higher than its previous close of $.0215.
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Green and Hill Industries Announces Addition Of Josh Crone As VP of Business Development
Green and Hill Industries, Inc. (OTCPINK: GHIL) saw its share volume soar on June 4th with 659,200 shares exchanging hands, 47 times higher than its three month daily average volume of 13,821 shares.
Green and Hill Industries, doing business as Ross' Gold, announced that Mr. Josh Crone has joined the Ross' Gold team as VP of Business Development whose role will be to identify and develop new business opportunities for the Company's medical cannabis brands.
Mr. Crone was one of the top sales executives for Xerox Canada where he helped clients such as Pixar, the Vancouver WhiteCaps, Sony Pictures Imageworks and RedBull find simple and intuitive management solutions. He has also worked as a business consultant with various companies including a Belgium chocolate manufacturer, an organic fertilizer distributor and a waste management service where he improved the sales, marketing and distribution efficiency and increased product demand in the market.
CEO Ross Rebagliati commented, "Mr. Crone was selected not only for his experience, but for his passion and drive that comes from competitive sports. Ross' Gold has the only full vertical market business model in Canada with strong branding and marketing management expertise. Our solution will take the product from seed/clone through to the end patient by leveraging the expertise of our partners, our team strengths and the super-brand we have created called Ross' Gold."
GHIL closed the day at $1.42, 26.79% higher than its previous close of $1.12.
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