WASHINGTON, D.C. August 22, 2013 -- Virtual Sourcing, Inc. (OTC Pink: PGCX) has embarked on an ambitious business plan to speed its growth and profitability. After spending a great deal of time analyzing the best utilization of incoming capital from non-convertible loans the company has contacted several potential acquisitions. These acquisitions, when completed, would cause the company to have substantial operating revenue beginning in the last quarter of 2013 with equivalently significant profits.
The company is seeking to complete contracts that will solidify its supply chain of recyclable raw materials from fiberglass manufacturers. Acquisitions of paper, plastic and fiberglass recyclers will speed the process of reaching a critical mass of supply inventory to sustain uninterrupted production of consumer products.
Several manufacturers of recycled products, plastic extrusion and molded plastics companies for sale have been contacted. Diligence materials have already been received and contract negotiations begin next week. Upon completion of the acquisitions these manufacturers will supply profits during development of our consumer products. By using their engineers, excess manufacturing capacity and structures, our capital outlay needs for real estate and buildings is significantly reduced. The immediate benefit from the acquisitions is shortening of the time to market for our recycled products from mid next year to early winter this year, thereby allowing us to market for release during next spring's lawn and garden supply season.
Financing packages for the acquisitions are being negotiated. The loan package provides $15-$20 million for acquisitions without any conversion privileges to common stock, in addition to a low interest rate and five years to repay.
This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.
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SOURCE: Virtual Sourcing, Inc.