PLACERVILLE, CA, March 16, 2017 /PRNewswire/ - iMD Companies, Inc. (OTC: ICBU) Board of Directors announced today that the company's subsidiary KRSNA Minerals received a purchase order from Hong Kong based company for 100,000 Metric Tons of Magnesia Chrome Powder. The purchase order for 100,000 Metric Tons of Chrome Powder is valued over 60 million dollars and is to be delivered within six months to Hong Kong company. The company announced in January that KRSNA was expanding its work on its claims to meet demands for contracts with China for Manganese and Iron Ore. The results of this increase in demand is that the company recorded record revenues of over 8.1 million and Profits over $500,000 for the fourth quarter of 2016.
Because of this contract and others KRSNA Minerals revenues and profits are trending much higher for the first half of 2017 compared to 2016. KRSNA Minerals is a producing mine in BHUBANESWAR, ORISSA INDIA with over 600 acres of mining claims which are producing manganese and Iron ore metals.
Richard Wilson CEO of ICBU stated, "This contract is exactly what KRSNA Minerals has been seeking to increase its revenues and profits for years to come. The expansion of mining on multiple claims is necessary for the demand for Manganese and Iron Ore. We are now turning all our attention to complete our audit of the company to become fully reporting. We are extremely pleased that KRSNA has signed this contract and as they sign more we will announce them to the public."
About iMD Companies, Inc. www.imdcompaniesinc.com
iMD Companies, Inc., (ICBU) is a Florida corporation, engaged in the manufacturing, extraction and distribution in mining, Protein Health bars, hydroponics industries and asset accumulations of revenue producing companies. The company is positioned to be a holding company for acquisitions in the medical, mining and hydroponics industries. Acquisitions in those areas are R-Quest Hydroponics from Anything Technologies Media (OTC: EXMT). The company and the principals of the management team have extensive backgrounds in finance, manufacturing, marketing and distribution. ICBU's goal is to create and increase shareholder value by tactically growing our core Hydroponics business while strategically seeking to acquire new business and create other business alliances, which generate increased revenues and earnings.
About KRSNA Minerals:
KRSNA MINERALS currently has contracts with the Chinese government to supply manganese and Iron ore to China. The recoverable asset values are in excess of 700 million dollars for the total claims owned by KRSNA MINERALS. The Current Claims mined produced revenues in excess of 30 million dollars in 2016 KRSNA MINERALS plans to dramatically increase the number of claims being mined in 2017 to increase revenues exponentially for the company. KRSNA MINERALS is now a wholly owned subsidiary of ICBU and all financials of KRSNA MINERALS will be represented into ICBU financials statements.
Safe Harbor Statement:
Certain statements made in this press release constitute forward-looking statements that are based on management's expectations, estimates, projections and assumptions. Words such as "expects," "anticipates," "plans," "scheduled," "estimates" and variations of these words and similar expressions are intended to identify forward-looking statements. Forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, as amended. These statements are not guarantees of future performance and involve certain risks and uncertainties, which are difficult to predict. Therefore, actual future results and trends may differ materially from what is forecast in forward-looking statements due to a variety of factors. All forward-looking statements speak only as of the date of this press release and the company does not undertake any obligation to update or publicly release any revisions to forward-looking statements
SOURCE iMD Companies, Inc.