ProConcept Marketing Group Signs Letter of Intent with Integrity Sales & Service, Inc.
NEW YORK--ProConcept Marketing Group, Inc. announced it has entered into a letter of intent term agreement to acquire Integrity Sales & Service, Inc, a sales and refurbishment of high end trucks and farm equipment in the Midwest.
Located near Fort Wayne, Indiana, 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, and currently has around 20 employees. 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. 99 trucks
The Company focus of refurbishment and resale of high end priced trucking and farming equipment provides our customers a cost effective means to expand their business in an improving commodity, trucking, and agricultural market.
For the year ended Dec. 31, 2010, the Company reported total revenues of $3.9 million, with a gross profit of $1.4 million, and total net income profit of $366,569. These numbers represent around a 36% gross profit margin, or a 9% profit on total revenues generated, minus operational expense.
For the year ending 2010 revenues increased 34% to $3.9 million, compared to $2.9 million for the same period ending Dec. 31, 2009.
For the same year ending period, the Company reported total assets of $1.8 million, which includes $215,711 of operational cash flow, and total liabilities of $891,465, thus resulting in positive shareholder equity of $916,345.
In an effort to build transparency for our shareholders, the Company will embark on complying with reporting standards with OTC Markets, LLC to provide our quarterly and annual reports, and upgrade our listing standard to a higher market tier, upon closure and execution of the term sheet agreement.
The Company will develop a more established shareholder communication department, and will work on providing an up-to-date website for easier communication between the market, and our company.
Shareholders wishing to request more information about our new operations are invited to contact the company at (917) 428-8782 or by email at email@example.com.