IMD Companies Inc (OTCMKTS: ICBU) has rocketed up the charts after the Company announced a significant purchase order of Polyvinyl Chloride (PVC) Pipes over a two-year period to the Government of India.
The PVC news has lit a fire under ICBU which was wallowing away in triple zero land. The stock does have a history of big moves making an explosive move up from triple zero lows to highs of over a penny in early 2016.
IMD Companies, Inc. (ICBU) is a Florida corporation, engaged in the manufacturing, extraction and distribution in mining and asset accumulations of revenue producing companies. The company is positioned to be a holding company for acquisitions in the mining industries. The company and the principals of the management team have extensive backgrounds in finance, manufacturing, marketing and distribution. ICBU’s goal is to create and increase shareholder value by tactically growing our business while strategically seeking to acquire new business and create other business alliances, which generate increased revenues and earnings.
Earlir this month the Company said they were in the final due diligence phase to complete a major contract with the Government of India to supply a very large order of PVC Pipe. The company has been working on this order over the last several months and is in the final details of the contract and due diligence to complete this contract. All details and amounts of materials needed for manufacturing are being calculated to set up the needed manufacturing to fulfill this order. This contract would cause IMD to be required to become a fully reporting company because of the increased revenues. This order will change the landscape for LCG Plastech as a subsidiary of IMD Companies, Inc.
On November 27 ICBU announced LCG Plastic, a subsidiary of the company, has received a purchase order and signed a contract to supply approximately one billion seven hundred and eighty million dollars, ($1,780,821,917) of Polyvinyl Chloride (PVC) Pipes over a two-year period to the Government of India. LCG has contracted to supply PVC pipes according to the specification in the purchase order. Approximately 10 million PVC Pipes are to be delivered every thirty days with the first shipment of pipes to be delivered in ninety days from the signing of the contract. The contract is a sliding scale purchase order that will ramp up to 10 million pipes per month after several deliveries and continue for the life of the contract.
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The company has been working on the details of the purchase order and contract over the last several months and completed the due diligence necessary to sign the contract. All details and materials needed for the increase in manufacturing have been calculated to set up the increase in capacity to produce the PVC Pipes for the orders each month.
The iMD legal team and LCG Plastic finalized all the details of this contract. The company’s legal team has verified all aspects of the order and has validated the value of the contract. iMD wanted to make sure all due diligence had been completed and verified before announcing this purchase order to its shareholders. The company has also filed its third quarter financials and disclosures with OTC Markets and is up to date with its filing for the company. The company plans to file the contract with iMD’s fourth quarter financial statements and the contract is expected to be published on the government website in approximately four to six months.
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Currently trading at a $1.3 million market valuation ICBU has about $1 million in current liabilities and did $111k in revenues for the 3 months ended September 30, 2018. For this period last year the Company reported $5 million plus in sales so they have done big numbers in the past. The Polyvinyl Chloride (PVC) Pipes sale to the Government of India could be very significant for the Company if it pans out like they say it will in the press release. Another big step here would be to reach an agreement with debt holders. We will be updating on ICBU when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with ICBU.
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Disclosure: we hold no position in ICBU either long or short and we have not been compensated for this article.