Greene Concepts Releases Q1 Financials Highlighting Debt Cancellations & Strong Sales
Rhea-AI Summary
Greene Concepts (OTC Pink: INKW) has released its Q1 financial results for August 1 - October 31, 2024. The company reported the cancellation of all convertible debt amounting to $313,995.68, as previously announced on October 8, 2024. The report highlights strong sales, asset growth, and favorable accounts receivable figures. The company also noted expansion in co-packing and white-label orders, along with growth in retail locations, partnerships, and product lines. The company maintains its 'Current Information' status on OTC Markets, emphasizing its commitment to transparency.
Positive
- Complete cancellation of convertible debt worth $313,995.68
- Strong sales and asset growth reported
- Expansion of co-packing and white-label orders
- Growth in retail locations and partnerships
Negative
- None.
News Market Reaction
On the day this news was published, INKW declined NaN%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Marion, North Carolina--(Newsfile Corp. - December 5, 2024) - Greene Concepts Inc. (OTC Pink: INKW) is pleased to announce that its Q1 financial results for the period of August 1, 2024 – October 31, 2024, are now available on its Over-the-Counter (OTC) Markets Filings and Disclosure Page.
Key highlights include:
- The cancellation of all convertible debt, totaling
$313,995.68 , as reported in the October 8, 2024 news release. - Strong sales, asset growth, and favorable accounts receivable numbers.
- Expanded co-packing and white-label orders.
- Growth in retail locations, partnerships, and product lines, alongside local support during a regional weather emergency.
Lenny Greene, CEO of Greene Concepts, commented, "The positive financial results reflect our ongoing efforts to increase manufacturing capacity and expand retail distribution. Maintaining 'Current Information' status on the OTC Markets page is crucial for our transparency, and we look forward to sharing more updates as we approach 2025." Stay Tuned.
About Greene Concepts, Inc.
Greene Concepts, Inc. (http://www.greeneconcepts.com) is a publicly traded company whose purpose is to provide the world with high-quality, healthy and enhanced beverage choices that meet the nutritional needs of its consumers while refreshing their mind, body and spirit. The Company's flagship product, BE WATER, is a premium artesian bottled water that supports total body health and wellness. Greene Concepts' beverage and bottling plant is located in Marion, North Carolina, and their water is ethically sourced from spring and artesian wells that are fed from a natural aquifer located deep beneath the Blue Ridge Mountains. Greene Concepts continues to develop and market premium beverage brands designed to enhance the daily lives of consumers.
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 few 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, because of new information, future events or otherwise.
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/232607
FAQ
What was Greene Concepts (INKW) convertible debt cancellation amount in Q1 2024?
What period does Greene Concepts (INKW) Q1 2024 financial report cover?
What are the main business expansions reported in Greene Concepts (INKW) Q1 2024 results?
