ProGreen US Inc. (fka PGUS)

[NONON2]

From the website...

ProGreen is responsible for providing the financing. Under the JV agreement, ProGreen receives with priority the return of the financed amount, from all revenue received, after which the profits are split equally between the two parties.

Contel has begun their growing operation with a first produce purchase agreement for $1.1 to $1.3 million (USD) for red chile peppers – from Agricola El Consuela, an exporter/importer to the U.S. market – which is being grown on the first 100 acres. The profit margin on this first crop is expected to be in the range of 55-60%.