I'm sure you will like what you find! The company has been in business for 14 years, and has audited financials showing millions in assets and revenue. The OS is 150 million. I suggest you start your DD with the radio interview that the CEO did a few weeks back. It is a great place to start! Here is the link:
ATLANTA, May 26, 2015 /PRNewswire/ -- GreenParts International, (OTCBB "GNPT") a metals recycling company with multiple locations in Atlanta, Georgia, is nearing completion of its strategic planning process and anticipates implementation of a new five-year plan in the early part of the 3rd quarter.
The GreenParts comprehensive strategic planning process has been a priority for recent quarters. GreenParts CEO Asif Balagmwala stated, "It is exciting to note that the strategic planning process has caused us to identify and begin taking advantage of a variety of unique opportunities and relationships that will be generating new revenue."
Balagmwala noted, "In order to serve the marketplace, we are strategically exploiting our organizational strengths and values and correlating them with the strengths of our partners and allies. This facilitates capitalizing on the vulnerabilities of the competitive marketplace."
An integral component of the strategic plan is a comprehensive review of GreenParts core operations as well as its global operations and partners. The implementation of this plan is intended to significantly improve operational performance and ultimately enhance earnings and shareholder value.
Balagmwala added, "Each quarter of the strategic plan is designed to provide short-term guidance and progress toward achievement of our long-term goals. While we are extremely focused on streamlining our debt, we are simultaneously committed to expanding our business verticals. As an example of a "vertical" GreenParts, together with a key international partner, and with essentially no resource diversion, proudly announces launch of our new clothing recycling project. We are particularly excited about this arena because it's a new revenue stream and also because of the additional exposure to other multinational markets and alliance opportunities."
The plan also identifies and prioritizes added new opportunities in several distinct markets as: electronics recycling, a renewed focus on scrap metal management, and boutique catering to both scrap metal generators and metal consumers. The company will be releasing more information regarding these opportunities in the coming weeks.[color=red][/color] "Any strategic plan has to be cognizant of the past, but at the same time very focused on the future. This is a very exciting time in our company's history, and through this plan we are putting a laser focus on optimizing our asset's, streamlining our operation, as well capitalizing on our enormous potential for growth. It is my personal obligation, and mission to make GreenParts International an innovator, and leader in the recycling industry," the Chief Executive Officer concluded.
-GNPT NEWS- 04/22/15 Greenparts International Reports Current Progress
ATLANTA, GA / ACCESSWIRE / April 22, 2015 / Greenparts International, (GNPT) a metals recycling company with multiple locations in Atlanta Georgia, has published its 10K along with information on current market conditions.
Greenparts President/CEO Asif Balagamwala commented on the company's 2014 results and market conditions stating, "We are pleased that we were able to successfully deal with 2014's precipitous ferrous scrap prices drop to the lowest levels since 2008. Last year's lower prices were created by excess global steel production, lower iron ore prices and weaker demand." Mr. Balagamwala added "We generated positive cash flow from operations in spite of this market deterioration and more importantly, we invested heavily into our infrastructure for the future. Specifically at our main location, we conducted a major reorganization during 2014 Q 1 of 2015 redesigning our production lines to facilitate greater efficiency and timely order fulfillment. Additionally we invested a significant amount of money and time to renovate our primary shredder, at a cost of a month and a half of production. This was necessary to maximize the use of the shredder in the current competitive market. The equipment upgrades and the production reorganization will create material, sustainable improvements to our bottom line."
As to current market conditions Mr. Balagamwala stated "While prices are lower than last year at this time we are seeing a stabilization in both prices and demand."
In closing the CEO addressed debt cost and new ventures. "In an effort to continue our rapid growth and recovery from 2014 forward we took on some aggressive debt cost that combined with unforeseen events impacted our bottom line. While operationally strong this debt cost proved to be a heavy burden. We are excited to be working with some quality partners to address and alleviate this issue, and combined with other strategic actions underway are looking forward to cost reductions and a return to growth through 2016 and beyond. In regards to new ventures, we are very fortunate to have some international partners that are increasing their participation with us and domestic opportunities, as well as developing new verticals from our core business. We not only anticipate, but are very much looking forward to releasing information regarding these partnerships in the near future."
During the year ended December 31, 2014, the Company was relieved of liabilities from loans to Piedmont bank. This debt was assumed by Asif Balagamwala and the Company did not have to repay the loan. Therefore a related party liability was recorded at that time.
If you look at Note 6 - Bank Loans and Long-Term Leases there is : 1. Bank term note of 34 equal payments at 6.5% with a maturity date of July 1, 2015. This note was secured by the property on 844 Regina Drive owned by the president, Asif Balagamwala, and the business assets. Total of $2,227,939 that is shown in 2013 is now $0 at 10k for 2014 because CEO took over this debt; show me which CEO in pinky world does something like this.. our CEO is in it to win it imo...
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