Free Flow Inc. (OTCMKTS:FFLO) has subsidiaries in the automotive, scrap metals and investment sectors and has announced the first shipment of scrap metal. This is pursuant to a recently consummated 12-month scrap metal purchasing agreement with Fuji Mountain Electrical Devices.
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On Thursday, FFLO stock lost 16.67% to $1.0000 with 100 shares, compared to volume of 204 shares. The stock moved within a range of $1.0000 – 1.0000 after opening trade at $1.0000.
Free Flow, Inc. (FFLO) Announces First Shipment Under Recent Scrap Metal Purchase Agreement
Apart from that, the company is hastening its processes and procurement for future shipments too. The purchasing agreement has a target of approximately 50,000 lbs. of scrap metal per week and projected annual revenues of over $1,000,000.
Free Flow, Inc. Announces Heavy Melting Scrap Metal Purchase Agreement Valued at $14 Million
On August 15, the company announced for the first time, a new heavy melting scrap metal purchasing agreement valued at $14 million. The purchasing agreement was expected to involve a total of approximately 45,000 metric tons.
Mr. Sabir Saleem, Free Flow, Inc. Chief Executive Officer commented that including a new scrap metal purchasing agreement worth $14 million in contract value is another substantial milestone for Free Flow as the company continues to boost shareholder value.
The contracted client is a major international supplier of commodities to industrial consumers, and its management possesses over a 30-year history in bulk commodity trading and shipping. Pricing for the scrap metal are to be determined by the international published price index as reported by COMEX (Commodity Exchange Inc.) or the LME (the London Metal Exchange) on the date of supply order. The goods which may be subject to the agreement include ISRI 202 heavy melting scrap (80/20) ½ and ISRI 211 shredded steel.
