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RediShred Capital (TSXV: KUT) Featured Company

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The company owns the PROSHRED® trademarks and intellectual property in the United States, where it shreds and recycles confidential documents and proprietary materials for thousands of customers across all industry sectors.

Additional Information:

Website: http:www.redishred.com
Stock Symbol: TSXV: KUT
Date Published: Sep 6, 2016
Transcript: Available

Video Transcript:

I’m Samantha Deutscher for Investmentpitch Media

Today, we’d like to feature Redishred Capital a pioneer in the mobile document destruction and recycling industry.

The company owns the PROSHRED® trademarks and intellectual property in the United States, where it shreds and recycles confidential documents and proprietary materials for thousands of customers across all industry sectors.

The company reported record sales of US$7.6 million for the quarter ended June 30, 2016 an increase of 19% over the comparable quarter in 2015, with sales growing across all sectors, recurring, unscheduled, and recycling.

Net income for the quarter was $188,000 a jump of 422% over the $36,000 reported in the second quarter of 2015.

Redishred Capital operates six corporate shredding businesses directly and grants PROSHRED® franchise businesses in the United States and by way of license arrangement in the Middle East.

The PROSHRED® system shred and recycled a record of 10,850 tons of paper during the second quarter, an increase of 12% over the second quarter of 2015.

The Company’s plan is to grow its business by way of both franchising and the acquisition and operation of document destruction businesses.

Jeffrey Hasham, CEO, stated: “It is our view that the on-site solution for destroying paper, hard drives and products is the most secure method of destruction. Proshred’s mandate is to continue to provide peace of mind for our client's that their information will be shred on-site, immediately reducing the risk of information breach. It is exciting to see our foot print cross over the 30 location mark in the United States, with the addition of St. Louis, Orlando and Jacksonville. The Company’s plan is to continue to invest in new trucks and human resources to further drive results in 2016 and beyond.”

The shares are trading at $0.40, and with 28.9 million shares outstanding, the company is capitalized at $11.6 million.

For more information, please visit the company’s website www.redishred.com, contact Jeffrey Hasham CEO, at 416-849-3469 or email Jeffrey.hasham@redishred.com.

I’m Samantha Deutscher for Investmentpitch Media