Greene Concepts Answers Frequently Asked Shareholder Questions Following the Live Emerging Growth Conference From March 3, 2021 Part One
Marion, North Carolina--(Newsfile Corp. - March 5, 2021) - Greene Concepts Inc. (OTC Pink: INKW), America's enhanced beverage company, is pleased to present key frequently asked questions (FAQ's) from both the recent Emerging Growth Conference on March 3, 2021 and from general questions sent to our investor relations e-mail IR@greeneconcepts.com. These investor questions will be covered in two different company press releases.
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During the conference the company's CEO, Lenny Greene, and the VP of Marketing and Regulatory, Amy McNally, discussed current company happenings at a live interactive online event for shareholders and the investment community in real time.
FAQ's Part One:
Q: What is the latest status on uplisting to the OTCQB? We have narrowed our auditing search down to a few auditing firms and interviewing them to determine which offer the best services for what we need at the best price. Once we have completed the hiring, we will have our books audited and then will finalize the application to OTCQB. Our plan is to complete this application, move from the Pink Sheets to OTCQB and then uplist to OTCQX with a final goal of reaching the NASDAQ. We are taking this step-by-step.
Q: When would be a reasonable timeframe to expect easy access to buying "BE WATER" online? As we seek to make our water available through the Water Club, we must be aware that because a case of water weighs 29 pounds the shipping costs are exorbitant. To send the water via UPS or FedEx could cost $70 to ship the case, almost double the price of the BE WATER itself resulting in an extra high cost for the consumer which we do not want to see and consumers would not want to pay. We have been searching to find an economical route to employ shipping. Choices on the table include having Amazon do all our shipping or perhaps utilize a local Veteran distributor. This is all being created currently since the design phase occurred during the start of the pandemic. Once we work this out, BE WATER will be available to everyone. We are also at the mercy of Amazon's algorithm which decides how much inventory we can send to the fulfillment centers and the number of fulfillment centers we can service. As shipments occur through Amazon, Amazon maintains the customer records. Through the Water Club, we will maintain those customer listings ourselves to sell them the multiple products we have going-forward as well. This is a top goal of ours.
Q: Do you have an update on Amazon and when BE WATER will be fully available for purchase there? After going live on Amazon in late-January and selling out twice since then (including within two hours on the first day of posting), we are awaiting further throughput allowance by Amazon and we will soon achieve that as our sales continue to increase. Currently Amazon is allowing us to send product to six distribution centers and expect that to increase exponentially as our product continues to sell out. Our goal is to have BE WATER in all 110 active Amazon fulfillment centers in the U.S. (See: FBA Locations) and to keep replenishing them as it continues to sell out. This will be followed by placing our Happy Mellow brand in Amazon followed by segments from our 24 X 7 line. As noted in our February 22, 2021 press release, Amazon limits inventories on new products that do not have at least three months of history and also imposes limits on items that are heavy and take up warehouse shelf space. On our Amazon BE WATER product page, at this time we have almost 50 verified customer reviews with a 4.9/5 rating. We are continuing negotiations to get in larger grocery and retail stores.
Q: What are the company's insider holdings, tradeable shares and the float? This information is captured publicly on the INKW OTC Page's 'Security Details' section and also linked from our company's webpage at: https://greeneconcepts.com/investor-relations/. The SEC attorney also maintains this information and can share this data. Additionally, our Investor Relations e-mail is IR@greeneconcepts.com.
Q: What are your goals for future international sales and business and how long might it take for these goals to be achieved? We have plans to extend sales into China, India and Mexico. We are working with some wonderful contractors internationally to set the stage for market penetration while helping us to navigate the local regulatory aspects to ensure legal, fair and effective business practices in those countries. More on those later as more developments occur.
Q: We have noticed an increase in outstanding shares throughout the past month even with the 2.875 million in funding to expand the company. What was the reasoning for this and should we brace for more dilution in the upcoming future? Along with this are there any plans for a buyback of shares and if so, can a timeframe be given for that? A little over a year ago we issued a Reg A to offer up to 3 billion shares at .0015 in exchange for shares to help raise funding for Greene Concepts. Since that time, we have been blessed with numerous responses along with additional investment funding as well. We used the funds to upgrade and increase our operation capabilities and securing our bottling supplies in preparation for larger scale orders such as Amazon and additional partnerships we plan to announce soon. We also used a portion of our inventory to donate water bottles to families in Texas affected by the winter weather impact.
Q: What Corporate Social Responsibility (CSR) efforts have you undertaken recently as a company? We want to always show and be known as a company that helps others in need. We have delivered three full truckloads of BE WATER to Texas (1,540 cases of water in each truck), two of which went to Mattress Mack's Gallery Furniture in Houston to help local residents taking shelter in his furniture stores as noted in our February 22, 2021 press release to assist those impacted the recent winter storm there. We are looking to support and encourage others to partner with us in supporting Texas and other areas hit by crises. We are also aware of water scarcity within the U.S. and abroad and is a large reason why we are looking to help deliver our water to these areas.
Q: What is the Water Club? The Water Club is a new subsidiary under Greene Concepts, Inc. that operates as a Subscribe and Save service that allows customers to subscribe to purchasing our water on a regular basis which is then delivered to their home or office location. As of now there are 25 different products that will be included in the Water Club for purchase to include the BE WATER itself.
Mr. Greene states, "Our goal is to be ultra-transparent in all that we do and hopefully the answers to the above questions provide this transparency. As we grow, we want to always do the little things well and to our shareholders, know that I hear and value you. We desire to maintain trust from our shareholders and answering the above questions is the perfect way to do that. Please state tuned for part two of our FAQs."
About the Emerging Growth Conference
Through its evolution, EmergingGrowth.com found a niche in identifying companies that can be overlooked by the markets. The Emerging Growth Conference was launched to showcase niche companies in specific sectors. It identifies companies with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.
The Emerging Growth conference is an effective way for public companies to present and communicate their new products, services and other major announcements to the investment community from the convenience of their office, in a time efficient manner. The audience includes potentially tens of thousands of Individual and Institutional investors, as well as Investment advisors and analysts.
All sessions will be conducted through video webcasts and will take place in the Eastern time zone. Provided above is the current Emerging Growth Conference schedule for featured presentations. Each company's presentations will be delivered by their executive management team. The Emerging Growth Conference focus and coverage includes a wide range of growth sectors and timely market themes, including, augmented reality, artificial intelligence, scientific, medical instruments and therapeutics, biotechnologies, cannabis, food & beverage, energy and more. See previous Emerging Growth presentations here.
About Greene Concepts, Inc., Mammoth Ventures, Inc. and Water Club, Inc.
Greene Concepts, Inc. (http://www.greeneconcepts.com) is a publicly traded company. Through its recently acquired wholly owned subsidiary, Mammoth Ventures Inc., the Company has entered the specialty beverage and bottling business and is an emerging leader in the global scientifically formulated beverage industry. Through its subsidiary Water Club, Inc. we intend to pursue subscription-based delivery of water and scientifically formulated beverages directly to the consumers home and market the convenience of this service thru social media affiliate marketing partners.
Safe Harbor: This Press Release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements are based on the current plans and expectations of management and are subject to a number of uncertainties and risks that could significantly affect the company's current plans and expectations, as well as future results of operations and financial condition. A more extensive listing of risks and factors that may affect the company's business prospects and cause actual results to differ materially from those described in the forward-looking statements can be found in the reports and other documents filed by the company with the Securities and Exchange Commission and OTC Markets, Inc. OTC Disclosure and News Service. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Greene Concepts, Inc.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76209