Service Team Inc. Moves to Larger Quarters http:/
Post# of 417
Posted On: 04/26/2016 5:02:30 PM
Service Team Inc. Moves to Larger Quarters
http://finance.yahoo.com/news/team-inc-moves-...28388.html
VILLA PARK, CA--(Marketwired - April 26, 2016) - Robert L. Cashman, President of Service Team Inc. (OTC PINK: SVTE), announced today that Service Team Inc. has completed the relocation of its manufacturing facility to Fullerton California.
Service Team Inc., effective September 1, 2015, leased new facilities at 1818 Rosslynn Avenue, Fullerton, California, to manufacture its products. The Company moved from 10633 Ruchti Road, South Gate, California to its new location effective October 1, 2015. The new facility is leased for six and one half years at a price of $10,000 per month, for the first six months; and, $14,000 per month thereafter. Service Team Inc. pays for the fire insurance and property taxes on the building estimated to be approximately $2,000 per month. The location consists of three acres of land and one building of approximately 30,000 square feet. The facility is approximately one-third larger than the prior facility in South Gate. The new facility gives us 30% more in manufacturing and outside storage area. This larger and newer facility will allow the company to continue to expand.
The company has now expensed all of the cost for moving to the new location and is back in full production.
Mr. Cashman stated that " The company has retired the following convertible notes." Vis Veres Group $38,000, JMJ Financial Group $27,778, L.G. Capital $26,500, Tangiers Capital Group $55,000 and U.S. Affiliated, Inc. $14,315.
We look forward to continued growth and profitability in the future. Our future plans are to continue to expand our present business and grow through acquisitions.
http://finance.yahoo.com/news/team-inc-moves-...28388.html
VILLA PARK, CA--(Marketwired - April 26, 2016) - Robert L. Cashman, President of Service Team Inc. (OTC PINK: SVTE), announced today that Service Team Inc. has completed the relocation of its manufacturing facility to Fullerton California.
Service Team Inc., effective September 1, 2015, leased new facilities at 1818 Rosslynn Avenue, Fullerton, California, to manufacture its products. The Company moved from 10633 Ruchti Road, South Gate, California to its new location effective October 1, 2015. The new facility is leased for six and one half years at a price of $10,000 per month, for the first six months; and, $14,000 per month thereafter. Service Team Inc. pays for the fire insurance and property taxes on the building estimated to be approximately $2,000 per month. The location consists of three acres of land and one building of approximately 30,000 square feet. The facility is approximately one-third larger than the prior facility in South Gate. The new facility gives us 30% more in manufacturing and outside storage area. This larger and newer facility will allow the company to continue to expand.
The company has now expensed all of the cost for moving to the new location and is back in full production.
Mr. Cashman stated that " The company has retired the following convertible notes." Vis Veres Group $38,000, JMJ Financial Group $27,778, L.G. Capital $26,500, Tangiers Capital Group $55,000 and U.S. Affiliated, Inc. $14,315.
We look forward to continued growth and profitability in the future. Our future plans are to continue to expand our present business and grow through acquisitions.
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