Integrity Sales Announces $3 Million Bank Line of Credit for Equipment Sales Expansion
NEW YORK--([ BUSINESS WIRE ])--ProConcept Marketing Group, Inc. (Pink Sheets:PRMK), through its operating subsidiary Integrity Sales & Services, Inc., announced its bank has raised its line of credit option up to $3 million.
"We are very pleased to have this increased credit line option as it will now provide us with the ability to fulfill any new or larger purchase orders, and provide us with the means to execute our North America expansion plans."
The Company announced that its current bank has offered to rise its current line of credit option up from $1 million to $3 million, which will now provide the Company the ability to fulfill any new orders in our international expansion. We have executed a half million-dollar credit line increase currently and look forward to expanding our credit line with increasing demand.
David Pfister, the CEO of Integrity Sales commented, "We are very pleased to have this increased credit line option as it will now provide us with the ability to fulfill any new or larger purchase orders, and provide us with the means to execute our North America expansion plans."
OTC Markets Upgrade
The Company has also upgraded its tier status on OTC Markets to Limited, but with our current up-to-date filings, the Company should now be in compliance for an upgrade to 'current information' tier status and has submitted our request to the OTC Markets for review.
Stock Buyback Program
The Board of Directors has authorized a stock repurchase plan in which the company intends to buy back a portion of its outstanding shares from time to time in the open market. Under the plan, the company will buy back shares through public channels at prices believed to be appropriate and in the best interest of its shareholders.
About Integrity Sales & Services, Inc.
Integrity Sales & Service, Inc. is a commercial market dealer of used trucks and trailer sales, service, and parts from makers like Ford, International, Freightliner, Volvo and others. The Company carries heavy duty inventory including used expedite, box, dump, grain and flatbed trucks, semi tractors, trailers, hot shots, light duty automobiles, and bucket trucks, with a large focus on the agriculture service market in the region. [ www.99trucks.com ], [ www.99trailers.com ]
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities, and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Security and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.