Green Innovations Ltd (OTCMKTS:GNIN) is drifting into oblivion recently dropping below a penny as anyone who bought in earlier runs for the exits.
GNIN started trading on the bb’s at the end of 2012 and quickly made a spectacular run to highs over $3 on the brighton markets promotion that was followed by years of steady decline.
Green Innovations Ltd (OTCMKTS:GNIN) through its wholly-owned subsidiary, Green Hygienics, Inc. is the exclusive licensed North American distributor of American Hygienics Corporation’s 100% tree-free bamboo-based product line, including personal care and paper-based goods. The marketplace for tissue paper products, diapers, wet wipes, feminine care products, and adult care products, is in excess of $29 billion annually in the United States.
GNIN is committed to providing consumers with quality products that are designed and manufactured to the highest standards in FDA-accepted manufacturing facilities without compromising product performance. Green Innovations is a member of the International Green Energy Council (IGEC) and dedicated to ensuring a more healthy and sustainable planet. Green Hygienics represents the following brands:
On October 28 GNIN announced that it has signed ShopRite supermarkets, and received its first purchase order, for its line of natural consumer paper products. New Jersey-based ShopRite has over 250 supermarkets in the northeast US, and is the largest retailer-owned cooperative in the US and the largest employer in New Jersey.
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ShopRite is a subsidiary of New Jersey-based Wakefern Food Corporation. Wakefern and ShopRite together employ more than 50,000 people throughout New Jersey, New York, Connecticut, Pennsylvania, Delaware and Maryland. Founded in Keasbey, New Jersey in 1946, Wakefern also owns and operates PriceRite, a supermarket chain in the northeast US with over 50 stores.
The Company’s products, through its Green Hygienics brand, are authorized for distribution throughout all of ShopRite supermarkets in New Jersey, New York, Connecticut, Pennsylvania, Delaware and Maryland markets.
“ShopRite is a terrific retail partner with a large and loyal member-customer base, which will greatly expand our footprint in the northeast US,” said Jeff Thurgood, GNIN CEO. “Adding ShopRite to our growing network of retailers, and building a relationship with Wakefern, provides an expansive distribution platform for the Green Hygienics product line — starting with our ever popular Clearly Herbal(R) Baby Wipes.”
Last year GNIN promoted Jeff Thurgood, Vice President – Sales, to Chief Executive Officer. Mr. Thurgood brings 30 years’ industry experience including 16 years with Kimberly-Clark (KMB), a $21 billion global consumer goods company ranked #139 in the Fortune 500. At KMB, his experience included serving in the corporate headquarters as National Merchandising Manager of Huggies Baby Wipes, Depend, Poise Adult Care brands, and as Trade Marketing Director of Target Brands.
As CEO, he succeeds Philip Rundle who will serve as a consultant to the Company through year end. Mr. Rundle is resigning as CEO and member of the Board of Directors to accommodate a family health matter.
Commenting on his promotion, Mr. Thurgood said, “I am excited to have the opportunity to lead Green Innovations into a bright and prosperous future. With the strong foundation built by Philip, Bruce and the rest of our team, I am confident 2014 will prove to be a pivotal year at Green Innovations in which we break out to new, higher levels of market share through new products, retailers and strategic relationships. We are also actively pursuing a number of potentially game-changing projects and strategic initiatives.”
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Currently drifting into oblivion GNIN does have fast growing revenues announcing $4,159,562 for 2014 up from $1,867,788 in 2013. While GNIN revenues are increasing the old Brighton Markets promotion is losing money which has resulted in steady and significant dilution; over the past 12 months alone the OS has risen from under 35 million to current 105 million. We will be updating on GNIN when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GNIN.
Disclosure: we hold no position in GNIN either long or short and we have not been compensated for this article.