SOURCE: Virtual Sourcing, Inc.

November 06, 2013 20:03 ET

Virtual Sourcing, Inc. Updates Corporate Activities and Its Sustainable Product Initiative

WASHINGTON, DC--(Marketwired - Nov 6, 2013) - Virtual Sourcing, Inc. (OTC Pink: PGCX) -- In keeping with our desire to have interested parties informed we are issuing this update.

The company is continuing in its quest to grow by acquisition and joint ventures. We are negotiating for a substantial acquisition in the fiberglass manufacturing sector and potential joint venture partners in the fiberglass manufacturing industry.

Our auditors are progressing on our audits and those of the operation that has signed a letter of intent to be acquired. The audits are for the last two fiscal years and the review of the current fiscal year period through September 30, 2013. The acquisition closing will be shortly after the reports are issued. The parties intend to close in December 2013.

We have started development of an improved non-structural concrete product using fiberglass waste with wonderful success. These products are about to be circulated to the current concrete product customer base of the potential acquisition for their approval. The use of this waste fiberglass improves the strength of the concrete product, provides weight reduction and reduces manufacturing cost. Using historical production data and current trends as a basis we expect to reduce the fiberglass waste to landfills by between 8 and 10 million pounds annually from this product and an additional replacement product. Negotiations for capturing the waste stream from various waste suppliers will continue through the product testing phase. This is a partial fulfillment of our goal to be a green company while assisting other manufacturing companies with substantial success in the continuation of their sustainability projects.

The market and product research has begun on our first proprietary product line of roll-off waste containers to be made from a combination virgin materials and various forms of fiberglass. We have discussed the testing of these models with various fiberglass manufacturers replacing their current waste containers. Upon acceptance of the containers by these testing manufacturers, we will begin a vigorous marketing campaign to replace metal containers starting with the 20 and 40 yard size. The market is substantial and our initial data indicates that we can make a superior and highly competitively priced product that should not corrode or dent. We expect to manufacture these containers in as many as four locations allowing the product to be cost effectively delivered from the Mason Dixon Line to the Mississippi River and all points South and East in the region.

This press release contains forward-looking statements. Such forward-looking statements are subject to a number of risks, assumptions and uncertainties that could cause the Company's actual results to differ materially from those projected in such statements. Forward-looking statements speak only as of the date made and are not guarantees of future performance. We undertake no obligation to publicly revise any forward-looking statements.

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