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Virtual Sourcing, Inc. Subsidiary Signs Significant Distribution Agreement
Virtual Sourcing, Inc. (OTC Pink: PGCX) (PINKSHEETS: PGCX) subsidiary Allied Recycling Corp (ARC) has signed an exclusive United States wholesale distribution agreement to distribute barrels of chemicals used in the treatment of oil derived waste water allowing the water to be recycled and reused in the oil fields and the oil recovered available for sale. The process substantially improves the separation and increases the speed of separation an average of approximately 250%.
The product has undergone rigorous testing with great success and is ready to be distributed starting in late July, 2014. The suggested retail price is $1,200 per barrel, our wholesale price is $1,000 with our purchase price from the manufacturer at $800 per barrel. These prices provide a substantial savings to the user over the current costs of existing products. We expect initial sales to exceed fifteen barrels per day by the end of July 2014. Our goal is to sell more than $4,800,000 of the product in the first year with gross profit in excess of $900,000.
This product expands the recycling business of ARC and will assist in supporting the expansion to other products in the recycling/recycled products field. The product has yet to be branded but will be by months end.
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties and are based on the beliefs and assumptions of management and information currently available to management. The use of words such as “believes”, “expects”, “anticipates”, “intends”, “plans”, “estimates”, “should”, “likely” or similar expressions, indicates a forward-looking statement.
The identification in this press release of factors that may affect the Company’s future performance and the accuracy of forward-looking statements is meant to be illustrative and by no means exhaustive. All forward-looking statements should be evaluated with the understanding of their inherent uncertainty.