Science & Technology
Science and Technology
Science and Technology
Wed, June 2, 2010 Simulated Environment Concepts Receives Additional Operation Capital
MIAMI, FL--(Marketwire - June 2, 2010) - [ Simulated Environment Concepts ] (
Dr. Ella Frenkel, Chairman and CEO of Simulated Environment Concepts, Inc. (SE Concepts), said, "It is very comforting to know a firm like AJENE WATSON, LLC is supporting you with long term sound business advice and capital resources. The increased credit line gives us a cushion for smooth operation into the foreseeable future."
Ajene Watson, Managing Member of AJENE WATSON, LLC, stated, "We have provided this company with several short-term production loans in addition to the original $100k revolving line of credit. They [SMEV] have done well in repaying their short-term production loans and are extremely prudent with the managing of their current facility. We're confident this increase will strengthen the company's position."
While this is not a hefty increase in dollar amount, at the present time, not much greater of an investment is required by the company. Having already sold 60 machines within the first five months of the year, with very little marketing effort, the company anticipates being able to quickly close the gap on investment capital vs. operation needs within the next half of the year. With the additional capital infusions AJENE WATSON, LLC intends to make available through other vehicles, the company will likely increase sales significantly while lowering production cost by over 200%. This should substantially increase profitability and allow for a more robust marketing team to be put into action.
"We don't need much to get the job done," said Dr. Ilya Spivak. "The increase to our operation's credit facility, along with payments for the sold products expected to arrive within the next 60 days, will provide us with an untold market advantage. If all goes as expected, there is no reason why we cannot close out 2010 with three times the sales activity that we've experienced within the first half of the year."
The company expects to see additional bulk contracts like the multi-million dollar deal signed at the close of 2009 with French company, Zen & O, for 250 SpaCapsules. With greater penetration into the European markets, the company believes that cash flow will eventually become considerable enough to limit the need for large investment requirements.
About Simulated Environment Concepts, Inc.
Simulated Environment Concepts, Inc. is the developer of a variety of relaxation products. For more information on Simulated Environment Concepts and its flagship product, SpaCapsule®, you can visit the company's product website at [ www.spacapsule.com ], the corporate website at [ www.seccorporation.com ], or request more information via email at [ ir@spacapsule.com ], or call toll free at (888) 757-0797.
Safe Harbor
Statements in this news release that are not historical facts, including statements about plans and expectations regarding products and opportunities, demand and acceptance of new or existing products, capital resources and future financial results are forward-looking. Forward-looking statements involve risks and uncertainties which may cause the Company's actual results in future periods to differ materially from those expressed. These uncertainties and risks include changing consumer preferences, lack of success of new products, loss of the Company's customers, competition and other factors discussed from time to time in the Company's filings with the Securities and Exchange Commission.
SpaCapsule is registered trademark of Simulated Environment Concepts, Inc.
