Beverly Hills, California, April 03, 2017 (GLOBE NEWSWIRE) -- 1PM Industries, Inc. (OTC: OPMZ) announced today that the Company has contracted with a third client for the year 2017 in the nutritional supplement industry.
CEO Joseph Wade stated, “Our business is growing at a much faster rate than we originally expected. We are now under contract with a third client in the nutritional supplement industry. This company has tremendous upside and we are excited about their potential for rapid growth. As far as revenue generation is concerned, $400,000 USD is a conservative expectation for each of our accounts, however with this one, it could be much more depending on the on-going requirements and needs of this particular client.”
Mr. Wade went on to say, “We have also made tremendous progress with the convertible debt that we have left on the books. Going forward, we have no reason to add any additional convertible debt as incoming revenue is more than enough to support our ongoing business activities. Convertible debt will become a thing of the past in the near future.”
Mr. Wade finished up with, “We have had questions recently about our clients and why we do not provide the names of the companies or their ticker symbols in our press releases. We hope that this is obvious to most, but let’s address that question head on. The process of going public involves some very sensitive steps, some very detailed filings and it’s never a sure thing or guarantee that a company will reach publicly traded status. Just prior to day one of trading, a lot of our behind the scenes support is occurring. Any disclosure on our part about our clients or their behind the scenes activity would run the risk of disrupting the process. With that in mind, please note that our formal filings will reflect more detail as it relates to our first three clients and the corresponding revenue streams. We want to thank you for your questions concerning this topic and we hope that this answer was helpful. We will provide more information for the investment community soon.”
About 1pm Industries: 1pm Industries, Inc. helps private companies to become public trading entities. 1pm Industries ensures that each client is shepherded through the process of becoming a publicly traded entity and then acts as a consultant until such time that the company is capable of managing the necessary activities and requirements on their own. In many cases, 1pm Industries locks in long term contractual agreements even after a company is trading publicly depending on the experience level of the management team.
Notice Regarding Forward-Looking Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual and interim reports.