Winning Brands Corporation (WNBD)

[doogdilinger]

Not sure who 'Bibby' is. I post this to help those who are doing their due diligence in regards to this company.

By the way hope...bibby was who eric opened a quarter million dollar A/R credit line with way back in 2008 which was increased to $500K at some point in 2011 k!

So from your email statements by Eric from last summer...it appears that Eric had already maxed out his $500K credit line with bibby or was at least telling you that bibby wasn't gonna cover that supposed purchase order by home hardware unless you started funding WNBD because of some supposed expected funds from California eric was waiting for!

That's the problem with Eric's constant full disclosure and selective disclosure statements over the years...no-one could ever tell how much and/or what was fact and how much and/or what was fiction!

Here's the initial Bibby announcement from back in the day cheers>>>

BARRIE, ON--(MARKET WIRE)--Jun 30, 2008 -- Winning Brands Corporation (Other OTC:WNBD.PK - News) (Frankfurt:WMU.F - News) (www.WinningBrands.ca) has received approval by Bibby Financial Services (www.bibbyfinancialservices.com/about_us.aspx) for a $250,000 Accounts Receivable credit facility for its Winning Brands' subsidiary Niagara Mist Marketing Ltd that is in addition to the existing $250,000 announced September 6, 2007. The earlier facility was used primarily for the financing of Winning Colours(TM) Stain Remover receivables through distribution affiliate XMG Corporation. The new facility will support Winning Brands' rollout of KIND(TM) Laundry Products, CLEAN1(TM) Outdoor Cleaner. TrackMoist(TM) Dust Suppression Solution and other products.

The purpose of an accounts receivable financing facility is to provide Winning Brands with cashflow from sales of its products more rapidly, accelerating access of up to 85% of sales invoices within 48 hrs. of the delivery of goods compared with waiting for the traditional 30-90 day term period. Winning Brands customers however still enjoy traditional terms because Bibby carries the receivable for the duration of the term instead. Winning Brands CEO Eric Lehner comments that the additional facility reflects Winning Brands' desire to complement capitalization initiatives with standard commercial instruments where possible for a nuanced approach to its needs. "We appreciate this vote of confidence in Winning Brands by a financial organization of Bibby's stature," says Lehner. "This facility will be particularly helpful when the size of purchase orders increases in the U.S. retailing environment."