Greene Concepts Updates Shareholders on Audit, Happy Mellow Launch and other Corporate Actions
Greene Concepts, Inc. (OTC Pink: INKW) is making significant progress on multiple key initiatives as of April 19, 2022. The company is nearing the completion of a complex two-year financial audit to become a fully reporting SEC filer, which will streamline future audits. They are also finalizing the launch of their all-natural CBD enhanced beverage, Happy Mellow, with supply chain issues mostly resolved. Additionally, they are designing packaging for a new BE WATER 6-pack and completing a share buyback program aimed at boosting shareholder value.
- Completion of two-year financial audit nearing, leading to SEC filing.
- Final development stages of Happy Mellow beverage are underway.
- Supply chain issues largely resolved for product launch.
- Designing new packaging for BE WATER 6-pack.
- Finalizing share buyback program to enhance shareholder value.
- None.
Marion, North Carolina, April 19, 2022 (GLOBE NEWSWIRE) -- Greene Concepts, Inc. (OTC Pink: INKW) is pleased to bring shareholders up to date on several key projects presently nearing completion.
Corporate Audit
The Company is nearing completion of a two (2) year financial audit in order to become a fully reporting SEC filer. The audit is being conducted by a PCAOB member auditing firm. A two-year audit is an extremely complex and lengthy process, and once a company achieves fully reporting status, the quarterly reviews and annual audit are much less time consuming.
In contrast to the ongoing audit process for an Issuer that is already fully reporting, a ‘fresh from scratch’ 2-year audit involves auditors pouring over financials from a 24-month period including on hand inventory, accounts receivable, accounts payable, banking, and other information that must be confirmed or ‘signed off’ by independent, verified third parties such as banks, vendors and customers. It is with great pride the Company is nearing completion of the extremely complex audit process.
Lenny Greene, CEO of Greene Concepts, stated, “I am extremely proud and grateful to the entire Greene Concepts team for their dedication and effort to bring us to the final part of the Company’s audit. Corporate Counsel has already pre-drafted a Form 10 for the Company and as soon as the audit is completed, the financials can be dropped into the Form 10 and filed with the SEC as the next step in becoming a Fully Reporting Company.”
Happy Mellow
The Company has also been working diligently to complete the final development stages of a marketing and launch campaign for Happy Mellow, the Company’s all-natural CBD enhanced immune support beverage. The Company spent months working with taste testing panels to finalize the formulation of the first three flavors that will be released by the Company (Lemon Lime ‘Be Energized’ with Vitamin D3 and Caffeine, Plum Punch ‘Be Balanced’ with Vitamin B-12, and Blood Orange Acai ‘Be Well’ with Vitamin C). The marketing and launch campaign are designed to increase consumer awareness of Happy Mellow’s numerous benefits. Additionally, the campaign is designed to build demand for Happy Mellow prior to the beverage’s release.
Amy McNally, VP of Marketing said, “With current supply chain challenges experienced by most industries, we are happy to announce that nearly all our raw materials have been successfully sourced, and we expect to have the remainder land at the plant by month’s end. At which time, we will produce the first run of our highly anticipated CBD-infused immune support beverage, Happy Mellow.”
Six-Pack Configuration
The Company has designed artwork for a shrink wrap film to be used in creating the Company’s soon-to-be released BE WATER 6-pack. The 6-pack of BE WATER will be sold and packaged as four 6-packs per 24-pack case to retailers and distributors providing them the option to retail BE WATER to consumers in a full 24-pack or a convenient 6-pack mini-case configuration.
Share Buyback Program
The Company is in the final stages of completing its share buyback program. As noted in its January 6, 2022 press release, the Company opened and funded a brokerage account in the Company’s name, to be used as part of a corporate stock buyback and share retirement program. The focus of the buyback was to enact Company consolidation and support equity value increase for shareholders while preparing for increased growth.
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 seven 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.
CONTACT:
Greene Concepts, Inc.
Investor Relations
IR@greeneconcepts.com
Attachments
- $INKW - Greene Concepts BeWater
- $INKW - Greene Concepts BeWater
- $INKW - Greene Concepts Happy Mellow
FAQ
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