LA JOLLA, Calif., May 7, 2014 (GLOBE NEWSWIRE) -- EHouse Global, Inc. (OTCBB:EHOS), (the "Company" or "Ehouse") (www.EHouse-Global.com), an emerging specialty nutraceutical company with 16 liquid based nutritional products in the dietary supplement industry, is pleased to announce several important corporate updates.
EHouse has been working with a new product formulator, a local to the southern California region, with the niche ability to produce the Company's products in large scale "totes," which will allow mass production and inventory building in anticipation of larger purchase orders. Previously, the Company was relying on one supplier to produce single "pouches" and "bottles," but with the new product formulator, they will now have the unique flexibility to mass produce their 16 innovative products into stackable 275 gallon totes. After production into the totes, the Company intends on utilizing their original formulation and pouching company to manufacture pouches and bottles with the added flexibility and efficiency of having two contract manufacturers who can produce the Company's raw product. As of last week, the company has finalized the details surrounding production and is ready to move forward with their first large-scale order.
Over the past five months, the Company has received over $500,000 in investments from multiple Private Equity funds. The Company hopes to secure additional funds from these groups going forward in order to provide adequate working capital as the working relationship has been positive thus far. This money is actively being utilized in the initial launch of the Company as they focus on bringing products to market and ultimately generate revenue.
The Company has also been working diligently to complete the S1 Registration Statement for the $10,000,000 equity line of credit to be provided by Dutchess Capital and should be submitted within the next 10 business days. The Company hopes to have access to this capital, providing successful correspondence with the Securities and Exchange Commission, sometime in Q3/Q4 2014.
As an added precaution to potential surprise large orders, which would demand a large and immediate amount of working capital, the Company has started discussions with a capital provider who is willing to potentially finance this inventory, subject to their terms, conditions, and due diligence. To access this capital, these orders would need to be from a large established retailer, sales leads the Company is currently perusing.
The Company is confident, provided the financiers, customers, and production partner's work with EHouse in the positive manner that they have been, that sales could start to materialize in the latter part of Q2 or beginning of Q3.
The Company's CEO, Scott Corlett, has actively been developing the list of potential retailers for the Company's products. Once the production and operations process is perfected, management intends to set out on a U.S. wide sales and marketing roadshow with the aim of securing several test orders with national retail chains. The Company may also engage Aisle 9, a product agency that combines branding, design, and packaging with a nationwide sales force to develop a long-term sales and marketing strategy.
SCOTT CORLETT, CEO OF EHOUSE GLOBAL, COMMENTED:
"I am quite pleased with the progress we've made at EHouse thus far. We became a public company last summer, spent the fall with administration and red-tape and finally in Q4 2013 we started to gain traction. Q4 2013 we started to finalize our products and develop our initial sales channels. In the New Year we've started moving very quickly with our new product manufacturers and filling the treasury. Moving into Q2 and Q3 2014, we look to finalize terms with the producers, manufacture an initial product-run, continue to cash-up, and land some customers—Amazon is currently waiting for product. Fast forward to the second half of 2014, coincidentally our 1 year anniversary as a public company, and I think we will be a real force in the industry."
ABOUT EHOUSE GLOBAL (EHOS)
EHouse Global is a publicly traded company on the OTCBB Market stock exchange under the ticker symbol EHOS. Headquartered in La Jolla, CA, EHouse Global acquires, develops and sells leading edge consumer oriented products ready for rapid commercialization. Much of its resources are dedicated to research and development in order to provide consumers with quality options while meeting the expectations of its investors. For information about EHouse go to www.ehouse-global.com
Through our wholly owned subsidiary NutraLiquids LLC, our launch includes 16 different liquid nutritional products in single serving pouches with some products also available in 30 day supply, 30 ounce bottles. Each product is gluten-free and are loaded with vitamins, nutrients and natural ingredients proven to support each product's unique claim.
From Immunity Support to Weight loss, Omega 3 Heart Health, Detox, Energy, Sleep, Joint Support, Bone Health, Daily Vitamins and even Hangover prevention, we have created a wide variety of hot product segments for the large and growing nutrition industry and are poised for significant growth.
NOTICE REGARDING FORWARD-LOOKING STATEMENTS
This news release contains "forward-looking statements." Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the ability of the Company to reach its expansion goals and generate exciting new developments. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing new products and operating as a development stage company, our ability to raise the additional funding we will need to continue to pursue our business and product development plans, competition in the industry in which we operate and market conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov.
INVESTOR AND MEDIA CONTACT: Ryan Troup President, Circadian Group IR Toll Free: 1 (855) 228-7336 Email: