Greenway Design Group, Inc. (GDGI.PK) Releases Corporate Update
March 19 2013 - 7:21PM
Marketwired
Greenway Design Group, Inc. (PINKSHEETS: GDGI) -- The last two
quarters of 2012 were a very disappointing time for GDGI
shareholders, the Board, and management. The lack of commercial
commitments fulfilled was due, in part, to a longer than
anticipated approval process which put GDGI behind in anticipated
projections, while a fledgling economy and lack of proper funding
hindered the residential product.
As a result of these difficulties, GDGI management initiated a
new business model including a review and examination of current
business procedures and plans. The purpose of this correspondence
is to help our shareholders understand and share the new strategic
plan and business model.
The vision for GDGI still remains the same: To be a leader and
grow into a high-quality energy saving company capable of
delivering top-quality sustainable shareholder returns through
opportunities and applications of innovative commercialization
strategies in markets where the technology thrives such as Central
America, Mexico, Asia, Australia and the United States.
Reviewing our weaknesses:
1. Operational cost with the lack of incoming revenues.
2. Understanding real timelines with testing and approval of
projects in mind.
3. Geographic feasibility of manufacturing and the cost to
deliver our products.
In reviewing GDGI's business model we have identified and
changed key areas and turned our weaknesses into strengths.
In reviewing our expenditures from 2010 through 2012, GDGI made
the decision to dramatically reduce overhead by making the
commitment to audit each segment of our expenditures and make a
determined effort to lower cost. First, GDGI decided to change
facilities, which saved thousands in monthly costs. With a combined
effort of the management team and officers GDGI was able to reduce
expenditures by 60%. This effort will ensure the maximum
capabilities of retaining income from upcoming sales.
Second, GDGI acknowledged the difficulty in delivering a new
innovative energy-saving technology to the large-scale market. The
sales cycle has proven to be much longer than originally
anticipated. On a positive note, GDGI has been in the Central
American markets now since 2011 testing on all three of the major
banks in Costa Rica. GDGI has installed in several locations in
Mexico since early 2012 and Puerto Rico since early 2012. The
United States market has slowly but steadily grown due to proven
installations and results.
Last, GDGI experienced difficulty producing a product for
commercial use in Asia due to the cost of manufacturing and
shipping. After initial test results in early 2012, GDGI came to an
agreement with Photon Ltd. CEO Jake Cho. Under the agreement GDGI
partnered with Photon to manufacture and sell under the Cool-n-Save
banner throughout Asia. GDGI will receive royalties on all sales
beginning first quarter 2013 per the agreement.
The Company's core activities have never been stronger. Three
patents support our marketing activities: Cool Release chemical
water treatment, the Cool-n-Save residential paddle, and the "HERO"
High Efficiency water treatment system.
Cool-n-Save is manufactured and marketed in the U.S.A. For more
information about Greenway Design Group, Inc. and Cool-n-Save, call
714-892-0011 or visit www.coolnsave.com and
www.greenwaydesigns.com.
FORWARD-LOOKING STATEMENTS
THIS DOCUMENT CONTAINS "FORWARD-LOOKING STATEMENTS."
FORWARD-LOOKING STATEMENTS ARE STATEMENTS CONCERNING PLANS,
OBJECTIVES, GOALS, STRATEGIES, EXPECTATIONS, INTENTIONS,
PROJECTIONS, DEVELOPMENTS, FUTURE EVENTS, OR PERFORMANCE,
UNDERLYING (EXPRESSED OR IMPLIED) ASSUMPTIONS AND OTHER STATEMENTS
THAT ARE OTHER THAN HISTORICAL FACTS. THESE FORWARD-LOOKING
STATEMENTS ARE ONLY PREDICTIONS. NO ASSURANCES CAN BE GIVEN THAT
SUCH PREDICTIONS WILL PROVE CORRECT. ACTUAL EVENTS OR RESULTS MAY
DIFFER MATERIALLY. FORWARD-LOOKING STATEMENTS SHOULD BE READ IN
LIGHT OF THE CAUTIONARY STATEMENTS AND RISKS THAT INCLUDE, BUT ARE
NOT LIMITED TO, THE RISKS ASSOCIATED WITH A SMALL COMPANY, OUR
COMPARATIVELY LIMITED FINANCIAL AND MANAGERIAL RESOURCES, OUR
INABILITY TO MARKET AND SELL OUR LIMITED PRODUCT LINE IN SUFFICIENT
VOLUMES THAT MAY ALLOW US TO ACHIEVE AND MAINTAIN PROFITABILITY AND
POSITIVE CASH FLOW, THE UNCERTAINTY OF MARKET TRENDS, THE INTENSE
COMPETITION FACED FROM OTHER CURRENT AND FUTURE TECHNOLOGIES AND
THE UNCERTAINTIES OF COMPETITIVE PRESSURES WE FACE. THESE OR OTHER
RISKS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE
FUTURE RESULTS INDICATED OR IMPLIED IN SUCH FORWARD-LOOKING
STATEMENTS. WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE SUCH
STATEMENTS.
CONTACT INFORMATION: Gabriel Lefrancois Communications
Dir EMAIL: Email Contact Phone: (714) 917-5375
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