Lumz'n Blooms, Ltd, an iMD Company Subsidiary, announces a Revolving Credit Facility and gives corporate update
TAMPA, FL, June 25, 2014 /PRNewswire/ - Lumz'n Blooms, Ltd, a subsidiary of iMD Companies, Inc. (OTC: ICBU) has announced they have received a revolving line of credit from a significant shareholder. The senior credit facility consists of a revolving line collateralized by accounts receivable and inventory.
"This line will assist Lumz'n Blooms in satisfying its growing orders and will assist our company get to the next level. We have seen an increasing demand for our LED and digital technology products, with hundreds of units that are being shipped to waiting customers." remarked Brian Tucker, President of Lumz'n Blooms. "Orders for the company's products can now be expedited to Lumz's customers. As a result of new distribution centers and favorable terms of the credit line, profits on these orders will improve significantly." Along with other funding recently received from the parent company, iMD, Lumz existing orders are being fulfilled, and orders from new customers are in process." We look forward to being able to enhance our relationships with current customers as well as capture future opportunities to achieve our growth plans."
Our management team is committed to building a long term successful Company. We are executing both our tactical and strategic plan as quickly and efficiently as possible. Our audit is ongoing and is expecting to be completed over the summer. As we have previously stated, we are committed to being fully transparent. We expect to be filing a Form 10 after the audit is complete. In addition, we are in advanced discussions with additional acquisitions and business alliances. We will report updates accordingly.
About Lumz'n Blooms, Ltd.
Lumz'n Blooms, Ltd. a Manufacturer and distributor of products and services for commercial and private growers. Founded in 2006, Lumz'n Blooms, LTD. has a grown its business year over year and generated revenues of over $2 million in 2013 with positive cash flow. Lumz'n Blooms, LTD.'s main products allow consumers to "Bring the Sun Indoors". Lighting, ballasts, growing materials are considered the "Pickaxe and Shovel" of the "Green Rush". Over the past 7 plus years Lumz'n Blooms has developed strong distribution channels and today counts Central Garden and Pet, HomeDepot.com, Amazon Prime, Bi-Mart, Orchard Supply as well as hundreds of independent Nursery, Hardware and Hydroponic Retailers among its customers. These established distribution channels, combined with their extensive product line and industry knowledge, makes Lumz'n Blooms a foundational acquisition for building future growth. For more information go to www.Lumz-n-Blooms.com , www.TuckersPride.com and www.InHomeGardening.com
About IMD Companies, Inc.
IMD Companies, Inc., (OTC MARKETS: ICBU) is a Florida corporation, led by serial entrepreneurs who have launched several successful ventures to date; the company has taken a new direction as a holding company. Management's purpose moving forward is to acquire, develop and group-promising entities under one roof, providing them with the collective power afforded by their joint assets. This strategy has proven to be a profitable and financially sound platform for our corporate success.
Our interests focus on all aspects of health and wellness, hydroponics, commercial and private indoor gardening and medical marijuana. The company seeks to evaluate and acquire businesses that show great promise as innovators in their field. Moving forward it is our objective to acquire and develop companies related to these fields.
About R-Quest Hydroponics, Inc.
R-Quest Hydroponics, Inc., is a Hardware and Software Manufacturing Company with its headquarters in Placerville, California. R-Quest Hydroponics, Inc. has developed the new Environmental Master Controller EMC-5000 system, which is able to provide constant management for grow room facilities for indoor gardens. The EMC-5000 was developed so that growers can rest easy with the confidence that their crop is in excellent hands. The EMC-5000 is able to regulate and control all aspects of an indoor grow system, including Light cycles to optimize growth, Fans, Nutrient pumps, and CO2 level controls to help manage grow rooms. R-Quest was purchased from Anything Technologies Media (OTC:EXMT) in 2013. To see more information on the EMC-5000 go to www.r-questhydro.com
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," "believes," "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 to reflect events, circumstances or changes in expectations after the date of this press release.
IMD Companies, Inc. does not sell or distribute any products that are in violation of the United States Controlled Substances Act (US.CSA).
SOURCE IMD Companies, Inc.