BENTONVILLE, Ark.--(BUSINESS WIRE)--Glucose Health, Inc. (OTC: GLUC) (the “Company”) today confirmed it has entered into a receivables financing agreement with Citibank, N.A (NYSE: CITI) (“Citibank”). Effective immediately, Glucose Health, Inc. may sell and Citibank may purchase, certain of the Company’s receivables. The receivables purchased by Citibank are purchased at a discount to their face value based upon a negotiated premium to LIBOR (London Inter-bank Offered Rate), an interest rate commensurate with the credit-worthiness of the Company’s retailer partner (not the Company).
Glucose Health, Inc. CEO Murray Fleming:
“The purpose of entering into a receivables financing agreement is to receive faster payment after invoicing a customer. This is important to our Company because we can more closely match the time we incur our costs of production, with the receipt of revenues. While completing the Citibank agreement, we delayed invoicing of some product sales from the third to the fourth quarter in order to take advantage of the agreement.”
“Glucose Health® Daily Blood Sugar Maintenance is the most innovative new OTC (over-the-counter, non-prescription) diabetes nutritional product introduced nationally in many years. The Glucose Health® formula takes the soluble fiber and selected vitamins, minerals and trace elements in the category-leading diabetes nutritional products, and adds key nutraceuticals and plant-based compounds popularized in alternative, holistic and folk medicine. The nine (9) ingredients comprising the Glucose Health® formula have impacts, demonstrated in certain clinical studies published in peer-reviewed medical journals, on blood sugar, triglycerides and cholesterol. However, what makes Glucose Health® a compelling diabetes nutritional product, is value-for-money. Walmart’s everyday low price is less than $10 for the 60-Day container of Glucose Health® – just 17 cents per day.”1
About Glucose Health, Inc. (OTC: GLUC)
Glucose Health, Inc. is a manufacturer of diabetes nutritional products for the OTC (over-the counter, non-prescription) consumer market segment. The Centers for Disease Control and Prevention (CDC) estimates 2 in 5 adult Americans are pre-diabetic and risk developing Type-2 diabetes in their lifetime. For more information, visit our consumer education and product website www.glucosehealth.com or our corporate website www.glucosehealthinc.com or call 1-888-987-6315. Glucose Health, Inc. is headquartered in Bentonville, Arkansas.
1higher in Alaska and Hawaii