RVPLUS CEO Cary Lee Peterson Updates on ECCO2 Projects and Company
NEW YORK, Jan. 7, 2013 (GLOBE NEWSWIRE) -- RVPlus, Inc. (OTCQB:RVPL), holding
company of ECCO2 Tech, provides CEO letter to Shareholders from CEO Mr. Cary
Lee Peterson who updates that the Company has made significant progress since
change in control of Company in May 2012. The Company's subsidiary, ECCO2
Tech, has expanded business as a supplier and service provider for 'green'
projects, partnering with foreign governments and non-governmental
organizations (NGO's) within Africa and the West Indies.
The Company's recent quarterly report dated October 31, 2012 shows over $8.6
million and closing the 2012 year with over $14 million in accounts receivable
from monthly invoicing for soft costs associated to the recently announced
active contracts with the governments of Haiti and Nigeria. My anticipation is
to continue generating immediate accounts receivable and sales revenue from
commercial invoices for soft costs and commence regularly scheduled shipments
of hard goods by end of the first calendar quarter of 2013, as the project
framework develops and financial aid parties are comfortable with broadening
financing and cash flow for ECCO2 Civil Society Program expenditures.
Revenue streamlines are stipulated by the following key elements, no matter
what country or region that we're doing business in. Credit/risk insurance is
the primary necessity to secure invoices billed to foreign government parties.
There is also an option for bank guarantees for debt financing (if it is
decided to pursue an asset based loan to accelerate cash flow for the supply
chains supported by ECCO2 Tech and partners). It will take a moment to
finalize arrangements with EX-IM Bank (Export-Import Bank of the United
States) and MIGA (Multilateral Investment Guarantee Agency, a member of the
World Bank Group). I'm certain we will be moving at a more radiant formality
once all parties get comfortable with program deployment and operations for
each individual government contract that is active. All parties are in talks
now and there will be more updates on this subject upon our upcoming
conference with all parties taking place the end of January 2013.
Receivable-to-Revenue Methodology Simply Clarified
(1) A contract is executed, an invoice is submitted for payment to
government party, In this instance there are multiple invoices for goods and
services rendered over a 10-year duration linked to one master agreement.
(2) Credit/risk insurance is obtained to secure risks involved with purchase
or service order (inclusive of meeting credit terms extended to the
Purchaser and payment to RVPlus),
(3) The insured invoice is factored by a bank (or a private investor party)
and within a week funds are paid to RVPlus for goods shipped and services
rendered as a cash advance several weeks before the commercial invoice is
actually paid by the Purchaser.
Focusing on What We Can Control to Generate Growth
The Company currently holds active contracts with three countries. The outcome
from United Nations COP18/CMP8 Climate Change Conference in Qatar has created
an alliance with United Nations affiliates (NGOs, IGOs, and Parties),
utilizing a turnkey business model for clean development mechanisms to support
climate change, energy efficiency, environment, social affairs, and economic
development in over 68 countries within Africa, West Indies, Latin America,
and Micronesia. The negotiations for these engagements are pending and will
require me to conduct a significant amount of conferencing, travel, and
planning for delegations and meetings with UN affiliates, financial aid
partners, and international government parties.
Middle market financing, robust management, and proficient communication will
determine the end result. United Nations financial aid partners hold over $300
billion at the present time for NGO projects in developing countries where we
are planning and currently conducting business. The Company's alliances with
ECCO2 Corp, Center for Climate Change & Environmental Studies, LINGS, and
Cabinet Alescio & Stafford have enabled the framework for expansion of ECCO2
(Environmental Control of Carbon Dioxide) into the majority of the developing
regions and communities to bid on a healthy percentage of the eligible
financial aid that can support ECCO2 business and philanthropic objectives.
ECCO2 brings together World Politics, Wall Street, Economics, and Finance
(Subject matters that sometimes can be rather complicated when held in the
same sentence). 2013 will be a great year for the Company. Shareholders must
interpret that any project with government, whether it be local, federal, or
international, is not going to scale up and execute overnight. A municipal
contract to widen the highway or to build a bridge takes a few years from A to
Z and that's just dealing with City Hall, State, and possibly Department of
Transportation. [For example:] Deploying a program that installs XP-AC medal
conditioner in every public vehicle and facility in a country as Nigeria, who
has a population of over 162 million people will take several months of
project development. This is not as simple as delivering a container load of
goods one day, invoicing the client, and then walking away. ECCO2 Tech manages
various tasks associated to the installation of products (e.g.; program
development and training) that will accrue revenue for RVPlus from service
fees, which make up the majority of the soft costs that you see on the
company's balance sheet from the most recent quarterly report. These invoices
are currently in the process of being insured and will be factored to generate
cash revenue for the Company. This is an ongoing process, whether factoring
receivables for goods or services.
This will be the sixth year since the 'international green giant' concept went
into action. ECCO2 is definitely not the 1-2-3-business model that you're
going to understand by reading a paragraph. What should be identified is that
the Company's business model for foreign government contracting is sustainable
as long as United Nations, Foreign Parties, and the US Government support
green technologies and economic development globally. Our products are cost
effective (unlike several other green technologies), universal, and quite
conventional. Thus, helping the environment, economy, and the people who live
on this planet will never go out of business or show a lack in demand unlike
various industries that operate as public sectors today.
Cary Lee Peterson
Chairman-CEO, RVPlus, Inc.
(Holding Company of ECCO2 Tech)
For more details or a copy of the company's executive summary contact us by
phone or email.
For more details about RVPlus and ECCO2, go tohttp://www.ecco2tech.com.
The ECCO2 logo is available
Statements which are not historical facts contained in this release are
forward-looking statements, such as "immediately accretive" that involve risks
and uncertainties, including but not limited to, the effect of economic
conditions, the impact of competition, the results of financing efforts,
changes in consumers' preferences and trends. The words "estimate,"
"possible," and "seeking" and similar expressions identify forward-looking
statements, which speak only to the date the statement was made. The Company
undertakes no obligation to publicly update or revise any forward-looking
statements, because of new information, future events, or otherwise. Future
events and actual results may differ materially from those set forth herein,
contemplated by, or underlying the forward-looking statements. The information
herein is subject to change without notice. The Company shall not be liable
for technical or editorial errors or omissions contained herein.
CONTACT: Sylvia Johnson - Public Relations
(Holding Company of ECCO2 Tech)
Phone: +1 201-815-2221
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