Agreement to purchase facility signed. LOI to receive $1,046,000 funding also signed.
HERNDON, VIRGINIA, UNITED STATES, June 19, 2018 /EINPresswire.com/ — Free Flow, Inc. (FFLO:OTCPINK) announces that its wholly- owned subsidiary, Accurate Auto Parts, Inc. (“AAP”), signed a Commercial Purchase Agreement (the “Agreement”) with CCC Real Estate Holdings, LLC for the purchase of 19.39 acres of land, with all improvements thereon, located in the City/County of King George, Virginia, addressed as 6269 Caledon Road, King George, VA-22485 (the “Property”) for a total purchase price of Seven Hundred Thousand Dollars ($700,000.00). AAP had leased the Property for 26 years. Purchasing the Property is will allow FFLO to move forward with its expansion plan and also own the property instead of just leasing.
Funding for the purchase will be in the form of a commercial bank loan. AAP has been pre-qualified by Evolve Bank & Trust to borrow $1,046,000. The proposed loan will be for a term of 25 years and will accrue interest at the annual rate of WSJP + 2.25%. The remaining funds will be used to build inventory and improvements.
The Property is currently zoned as a Recycling facility. Our expansion plan includes constructing a warehouse on the Property so that we can grow our auto parts business. We have already retained an architect to design the warehouse.
In addition, FFLO has conducted a feasibility study to set up a plant to extract crude oil from shredded tires and refine the same at the property. A new subsidiary will be formed for this operation.
FFLO has incorporated another subsidiary named as Citi Autos, Corp. (“City Autos”) and will apply for a used auto dealer license to sell used autos. Citi Autos plans to re-furbish automobiles primarily for export at this property.
FFLO expects a $18 million in total revenues with pre-tax net profits of $7,000,000 by the year 2022. The following table depicts our year-by-year projected income from 2018 through 2022.
For further information about this release, contact Mr. Sabir Saleem, Free Flow, Inc. 703-789-3344, www.FreeFlowPLC.com
ABOUT FREE FLOW, INC.
Free Flow, Inc. (FLLO) is a Delaware company that creates and acquires operating subsidiaries with the goal of manufacturing and selling products, and services. Through its current subsidiaries, Accurate Auto Parts, Inc. [formerly, JK Sales Corp.], Motor & Metals, Inc., and Citi Autos, Corp. the Company provides OEM recycled auto parts and supplies from a warehousing and shipping facility on its nineteen (19+) acre facility in King George, Virginia, USA. Every year approximately eleven million (11,000,0000) cars are scrapped and end up in salvage yards for reprocessing, FLLO commits itself to provide the sales of recycled auto parts and supplies, helping to reduce the carbon footprint involved in the production of new parts and steel products.
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This press release may include predictions, estimates, opinions or statements that might be considered "forward-looking" under the provisions of the Private Securities Litigation Reform Act of 1995. Such statements generally can be identified by phrases such as the Company or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates," or other, similar words or phrases.
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Source: EIN Presswire