OUTSTANDING SHARES 180 MILLION
PGCX just went through a 9 month process to get an S1 share offering approved through the SEC. It required audited financials and very detailed information about the company. Any information you want about the company is located at this link. http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=10378221 The S1 was approved by the SEC on January 8th 2015! They are raising funding by selling 35 million shares at a price of $1.00. The funding is supposed to be used for the recycling business. The company is building the foundation to enter this sector and be a fully reporting company.
Mario Faraone President
Virtual Sourcing, Inc, 615 Washington, Independence , KS 67301
ABOUT PGCX DIRECTLY FROM THE S1 OFFERING
In conjunction with partners, licensors, and the manufacturers themselves, we will utilize a number of facilities around the country for recycling of fiberglass waste and production of useful end-products. Starting in a tri-state region that includes West Virginia, Virginia, South Carolina and North Carolina, the Company will construct or utilize other facilities and subsidiary companies near major fiberglass manufacturing hubs. Additional locations will be developed along the Atlantic seaboard and the Gulf Coast where abandoned, damaged, or sunken boats may be salvaged for fiberglass that can then be used to manufacture our proposed products. In order to pursue its strategic objectives, the Company plans to utilize a portion of the proceeds received from this offering, as well as its available cash, cash generated from operations and additional cash as may be raised via equity or debt offerings as may be approved by its Board of Directors. As of the date of this prospectus, neither the Company, nor Allied Recycling Corp have contracts or agreements to purchase fiberglass waste, purchase concrete, manufacture or produce our proposed products, or distribute our proposed products.
On July 5, 2014, Allied Recycling Corp. entered into a Marketing Agreement with EYII, LLC which has allowed Allied Recycling Corp. to obtain the exclusive wholesale marketing rights to a chemical solution that increases the speed of separation of oil and solids from water in existing tanks. The name of the separation product is Kruud Kleen™. EYII has allowed Allied Recycling Corp. to purchase the separation product for 2/3 of the suggested retail price at which the product is customarily sold. Payment is owed by Allied Recycling Corp. within five days of its receipt of payment by the customer. The Company plans to sell such separation product to oil production and storage facilities in the United States. The Company agreed to issue to EYII 5 million shares of its common stock as payment for the exclusive wholesale marketing rights. The five million shares to be issued pursuant to the agreement were issued on December 9, 2014. A purchase order was issued to Allied Recycling Corp. on July 23, 2014, consisting of a minimum of 70 barrels per week and a maximum of 105 barrels per week of the separation product to be provided to a third party. To date the Company has sold 18 barrels and the Company is awaiting the completion of the third party’s end user site to continue filling the purchase order.
The chemical, which was branded today as Kruud Kleen™, has a primary function is to separate oil and water to recycle the water for use in fracking, pumping down oil and gas wells or for agricultural irrigation. The separated oil is then available for sale on the spot market. We are looking for other products relative the oil patch to distribute as well so that we might be able to fulfill all the needs of the oil service companies in recovering as much oil as possible from the water and from other mud/slurry derived from pumping the well(s).
The product was in the process of being sold by the formula’s owners with potential customers before our involvement. This is an exclusive U.S. wholesale distribution agreement so all contacts by our supplier have been forwarded to us.
The owner of the product formula has used it in various wells and tested it on frack water, sludge from oil tanks and mud from wells over the last couple of years. Every test on this formula has been successful in separating the oil from the water in two to three days depending on the material being separated. The savings comes from reducing the cost of other chemicals used, reduction in the use of machinery plus reduced power and labor.
The purchase order requires a minimum purchase of 70 barrels per week and a maximum of 105 barrels per week. The sales price is $1,000 per barrel and our contract cost is $800 per barrel., which results in a minimum purchase annually of $3,640,000 with the maximum being $5,460,000. The Company’s gross profit is approximately $200 per barrel. The market price per barrel has been set by the members of EYII and that is the standard price at which each barrel has been sold over the previous two years by the owners of EYII.
The administrative office of the Company was located at 1200 G St. NW, Suite 800, Washington, DC 20005, and the company has changed locations due to a new office lease. The new office address for the Company is 615 Washington, Independence , KS 67301 . The Company plans to use this office space until it requires larger space. The company fiscal year end is June 30. The Company has not been subject to any bankruptcy, receivership or similar proceeding.
Virtual Sourcing Receives its First Purchase Order
WASHINGTON, DC--(Marketwired - Jul 24, 2014) - Virtual Sourcing, Inc. (OTC Pink: PGCX) (PINKSHEETS: PGCX) subsidiary Allied Recycling Corp (ARC) received its first purchase order to deliver chemicals for oil and water separation per the wholesale distribution agreement announced last week.
The purchase order requires delivery of a minimum of 70 barrels and a current maximum of 105 barrels per week for one year with the first delivery scheduled for July 30, 2014. The revenue will range between $3,640,000 and $5,310,000 with profits between $700,000 and $1,000,000 for the duration of the purchase order. Virtual Sourcing Signs Significant Distribution Agreement
WASHINGTON, DC--(Marketwired - Jul 15, 2014) - 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. Virtual Sourcing, Inc. Updates Shareholders
INDEPENDENCE, KS, Jan 13, 2015 (Marketwired via COMTEX) -- Virtual Sourcing, Inc. (OTC PINK: PGCX), The Company's S-1 registration statement has been declared effective as of January 8, 2015, which will allow the company to immediately seek funding for acquisitions.
The company has moved its operations to Kansas in order to expand the marketing of chemicals in the Oil Patch. Virtual Sourcing, Inc. and its subsidiary, Allied Recycling Corp., have been actively seeking additional products for sale. The subsidiary continues to develop its testing and application programs for spring 2015 introduction.
Virtual Sourcing, Inc. intends to expand its business by seeking additional acquisitions and joint ventures for projects in the Oil Patch region.
Further growth requires the expansion of board of directors with qualified and experienced individuals related to our products and services.
"I would like to thank the Shareholders for remaining loyal and for their continued support for the company," stated Mario Faraone, President. "We are looking forward to this exciting time, and to fulfilling the goals described in our business plan."