MOUNT PLEASANT, Utah, Oct. 29, 2014 (GLOBE NEWSWIRE) -- Green PolkaDot Box Incorporated (OTC:GPDB) "GPDB" or "Company" announced today that T. Corl, one of its major investors and a principal in T&K Corl Investments, LLC, entered into an agreement with the Company to provide a million dollar credit line, increasing the Company's capacity to triple inventory levels in anticipation of increased sales.
Due to its recent agreement with the world's leading online retailer and the pending launch of its national "Health Merchant" plan on December 1st, 2014, Green PolkaDot Box is preparing to sustain increasing sales by securing the credit line.
"There were periods in our history when we were able to maintain 11% compounded monthly growth or more in sales and achieve higher value sales per order because we operated at full inventory," says GPDB CEO Rod Smith. "But in spite of our growth, in recent months, our operating deficits have eaten up the Company's working capital, making it difficult to sustain full inventory, resulting in a negative impact on sales and customer retention. This credit line will facilitate new growth and enable us to dedicate our other financial resources to achieve new strategic objectives."
Green PolkaDot Box recently broke ground and installed anchor pins in preparation for erecting greenhouses for its first Living Produce Growing Center. Smith hopes to complete construction of this facility in early 2015. In addition, GPDB Management has identified a location for the establishment of its second distribution center in the eastern U.S., opening the way to reduce shipping times and ship frozen/refrigerated products to the customers of its retail marketing partners and GPDB members living in the east and Midwest, for the first time.
About Green PolkaDot Box
Green PolkaDot Box is America's premier online membership club for organic and non-GMO natural foods at wholesale pricing. The Company leverages proprietary technology and products with its dynamic, interactive website and member relationship management software to provide a unique shopping and membership experience. For more information on Green PolkaDot Box, please visit: www.greenpolkadotbox.com.
Safe Harbor Statement
This release includes forward-looking statements. These forward-looking statements generally can be identified by phrases such as GPDB or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," "Plans" or other words or phrases of similar import. Similarly, statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.
CONTACT: Investors Relations Contact Rod Smith CEO/Green PolkaDot Box Incorporated (801) 787-8835 firstname.lastname@example.orgSource:Green PolkaDot Box Incorporated