SOURCE: Greengro Technologies Inc

November 14, 2013 08:15 ET

Greengro Technologies Management Provides Further Clarification on BP Gardens

Pro Forma Projections Outline Path to Near-Term Profitability

ANAHEIM, CA--(Marketwired - Nov 14, 2013) - Greengro Technologies (PINKSHEETS: GRNH) has released an update to current activities as well as pro forma projections. This announcement provides a more comprehensive look into the numbers that make up the projections around its subsidiary BP Gardens, an ambitious greenhouse project that promises to bring commerce and community together in a scalable and profitable manner.

The company previously announced the formation of the wholly owned subsidiary of BP Gardens. The ambitious project entails the control of a four acre property in the heart of Southern California's prime real estate near major tourist attractions. On the property there currently exist 6 fully functional greenhouses that will serve as the commerce arm of the project wherein the company will grow and distribute crops of leafy greens, fruits and vegetables to local markets, restaurants and communities through a certified farmers market. Additionally, the company aims to partner with local community and educational groups to teach the youth in the area the latest techniques for locally grown healthy and nutritious organic foods.

Since the announcement of the project the company has been focused on the planning, design, clean up and refurbishment of the existing property. The company announces today that it has raised the necessary capital to begin the first operational phase in Q1 of 2014. This first phase will represent the proof of concept in where one of the five greenhouses will be utilized to provide for zero waste aquaponics system to support the growth of lettuce, tomatoes culinary herbs and fish for commercial resale.

By the numbers:

The first operational phase will utilize a single greenhouse to serve as a proof of concept. Additionally, approximately 15000 square feet of open air space will be used to showcase the latest in vertical growing techniques as well as raised beds to produce various vine fruits and vegetables.

Pro forma projections:

Single greenhouse:

Yearly Revenue (1 GH)   Yield Amount   Average Price   Total
Heads of Lettuce   166,400   1.60   $266,240
1 oz Herb Bunch   76,800   1.40   $107,520
Lbs. of Tomatoes   7,200   1.80   $12,960
Lbs. of Fish   10,565   5.50   $58,107.50
Total Annual Revenue           $444,827.50
             
             

Replicated and economies scaled over 5 Greenhouses through the next 2 years, the company will realize an operational margin of $2,224,137.50  These projections are for the single Buena Park property only, but the projections is to have 25 fully operational and producing greenhouses under its control within 5 years spanning multiple properties, all under the BP Gardens brand name.

James Haas, Greengro Technologies CEO, puts it this way: "We are very excited at the pace that we are progressing on this project. There were some hurdles that we had to overcome that slowed the project but we are in full implementation phase now with full funding for the first greenhouse in place. We will continue to use our social media channels to update our investors on our progress."

Rafael O. Quezada, BP Gardens Operations manager and CEO of recently a acquired Foundation, The Waters Wheel, says "I'm excited to bring the planning and design phase to implementation and eager for The Waters Wheel to continue in parallel with our educational enrichment with local academic organizations and community groups."

About Greengro Technologies

Greengro Technologies (PINKSHEETS: GRNH) is a world class provider of eco-friendly green technologies with specific domain expertise in indoor and outdoor agricultural science systems serving both the consumer and commercial farming markets. It brings together community and commerce through the growth and distribution of healthy, nutritious foods and vital medicines backed by science and technology. Customers include restaurants, community gardens, small and large scale commercial clients.

About BP Gardens

BP Gardens, Inc., Anaheim, Calif., is a Controlled Environment Agriculture (CEA) company that specializes in the use of leading-edge technologies and state-of-the-art production methods -- hydroponics (soilless), aquaculture (fish farming), aquaponics (hydroponics and aquaculture) and aeroponics (plant roots moistened by misting sprays). CEA protects crops from detrimental environmental elements while generating superior, high-quality, locally grown, market-ready leafy green produce year-round in any climate. BP Gardens leverages the industry expertise of its management and staff to create one of the most advanced, cost-effective and energy efficient models of urban CEA in the U.S.

Disclaimer: The Company relies upon the Safe Harbor Laws of 1933, 1934 and 1995 for all public news releases. Statements, which are not historical facts, are forward-looking statements. The company, through its management, makes forward-looking public statements concerning its expected future operations, performance and other developments. Such forward-looking statements are necessarily estimates reflecting the company's best judgment based upon current information and involve a number of risks and uncertainties, and there can be no assurance that other factors will not affect the accuracy of such forward-looking statements. It is impossible to identify all such factors. Factors which could cause actual results to differ materially from those estimated by the company include, but are not limited to, government regulation; managing and maintaining growth; the effect of adverse publicity; litigation; competition; and other factors which may be identified from time to time in the company's public announcements.

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