Redux Holdings, Inc. Provides Shareholder Update
Redux Holdings, Inc. (PC) (USOTC:RDXH)
Intraday Stock Chart
Today : Friday 15 May 2015
Redux Holdings, Inc. (OTC:RDXH) is pleased to announce that the Company has accomplished a number of milestones over the last month.
Since installation of the Company's commercial-grade A3 Vertical System™, through on-the-field enhancements to the System, the Company had been able to further increase growth efficiency by 8.8%, which yields a greater potential return on investment for end-users based on area-of-use and expansion capabilities.
Within the next 10 days, the Company expects to move the plants it has been cultivating from the hothouse to the System and the Company intends to provide visual confirmation of this development at its website www.leotechholdingsinc.com as well as on its social media destinations at Facebook, Twitter and LinkedIn.
The Company has received an initial investment from a strategic private equity investor in Florida who is interested in the development, marketing and sale of smaller scale vertical growing systems to expand our product line. This investor has already made a definitive commitment to provide additional financing based on achievement of certain milestones surrounding expansion of our intellectual property portfolio and an impact assessment of a specific direct marketing opportunity. Our Company was selected by this investor after significant due diligence based upon which the investor concluded that our Company's technology was superior to competing technology that it considered.
The Company retained Michael N. Brette, J.D., as an advisor to the Company. Mr. Brette has many years of experience assisting emerging companies with growth strategies and we welcome him to our team.
As the Company is preparing to expand its sales efforts, the Company has secured product liability insurance through the Essex Insurance Company. The insurance 'Certificate Holder' is Loco Foods, which has an office and place of business at 229 N. U.S. Highway 287, Fort Collins, CO 80524. Loco Foods intends to purchase Company-grown produce and we are pleased to have secured Loco Foods as a potential buyer.
Company CEO Alexander Woods-Leo said of the progress made this past month, "Management has been able to make important strides both with respect to building the Company's infrastructure as well as securing additional financing, solid capital markets and sales advice, and approval of the first buyer of our produce."
