NEW YORK, NY--(Marketwired - Jul 17, 2014) - FBC Holding, Inc. (PINKSHEETS: FBCD) ("FBC" or the "Company"), an international product development company primarily focused on license/creation management and product sales/distribution through DRTV, announced that the company has finally began to post payments to receivables on the sale of 1.1+ million unit sales of its Health & Wellness Consumer brand compression sport sleeve using its Copper Tech fabric technology; cash received to be reflected in the third quarter disclosures.
"While we announced 'first revenues' back in March, it is only now we have finally began posting deposits to accounts receivable from prior shipments," stated Mr. Frank Russo, Chief Executive Officer of FBC Holding, Inc. "This is indeed one of the most important moments for FBC as the Company can clearly see its hard work paying off."
Payments received in this third quarter are a direct reflection of the sales/receivables that were generated off initial purchase orders that were sold in the first quarter: approximately 28% of the cash due to the Company. FBC expects to collect the remaining 70±% of its cash receivables over the next 90 days, which should "reflect well in the 3rd Quarter Disclosures," stated Russo.
Mr. Russo concluded, "We run a tight ship. We keep overhead and general operating expenses low. Our investment into product research and development is also well managed. This helps to keep our overall profitability rather strong. With the opportunities we currently have in development, we have deployed the same low cost operation model with the anticipation of significant percentage rate returns. We are confident we will close out 2014 on a very positive note, and blow 2015 right out of the water if we are successful with upcoming endeavors."
Having sold over 1.1mm units, the Company is just at its target number of $20 million dollars in retail sales value for just the knee sleeve alone. With DRTV infomercial programming reaching homes across America, FBC's first Copper Tech product is being viewed by a growing national audience. As copper-based products overall continue to become highly recognized, FBC expects to see more sales of its compression knee sleeve as the Company, and its partners, prepare to roll out additional Copper Tech infused products this year.
About FBC Interactive Division
FBC Holding's Interactive Division markets innovative products generally incorporating new proprietary technologies. FBC Interactive, leverages Direct Response Television (DRTV) formats to advertise, market and distribute its products; gaining retail footholds in various markets. FBC Interactive's market place is diverse, with a primary focus and expertise in toy and entertainment, consumer and health care, products and brands.
About FBC Holding, Inc.
FBC Holdings develops and markets innovative products using a 'new proprietary' technology whereby buttons, switches, wires and other electrical components can be printed on nearly any media. Management is experienced in Direct to Consumer Marketing (design, manufacture and market creative products leveraging cutting edge technology). FBC's market is diverse, covering consumer products, health care related products, and toy and entertainment products.
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