Greystone Logistics, Inc. (OTCMKTS:GLGI) Files An 8-K Results of Operations and Financial ConditionItem 2.02. Results of Operations and Financial Condition.
On August 29, 2017, Greystone Logistics, Inc. (the “Company”) issued a press release regarding results of operations for Greystone Logistics, Inc. for the year ended May 31, 2017. A copy of the press release dated August 29, 2017 is attached hereto as Exhibit 99.1.
The information being furnished hereunder discloses EBITDA, a non-GAAP financial measure within the meaning of Regulation G promulgated by the Securities and Exchange Commission. The Company believes that EBITDA is a useful measure of evaluating its financial performance because of its focus on the Company’s results from operations before interest, income taxes, depreciation and amortization. EBITDA is utilized for internal analysis of the Company. EBITDA is not a measure of financial performance under GAAP and should not be considered in isolation or as an alternative to other financial measures determined under GAAP. However, EBITDA is commonly used by investors, financial analysts and rating agencies as an alternative measure of evaluating, comparing and rating operating performance. EBITDA presented by the Company may not be comparable to similarly titled measures reported by other companies.
The information in this Form 8-K, including exhibits, is being furnished to Item 2.02 of Form 8-K and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be incorporated by reference into any registration statement filed by the Company under the Securities Act of 1933, as amended, unless specifically identified therein as being incorporated therein by reference.
Item 7.01. Regulation FD Disclosure.
As noted above in Item 2.02 of this Current Report on Form 8-K, the registrant issued a press release on August 29, 2017. A copy of the press release is attached to this Current Report on Form 8-K as Exhibit 99.1 and is being furnished to Regulation FD.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
| 99.1 | Press Release dated August 29, 2017 |
GREYSTONE LOGISTICS, INC. ExhibitEX-99.1 2 ex99-1.htm Exhibit 99.1 FISCAL YEAR 2017 REVENUES AND EARNINGS FOR GREYSTONE LOGISTICS,…To view the full exhibit click here
About Greystone Logistics, Inc. (OTCMKTS:GLGI)
Greystone Logistics, Inc. (Greystone), through its subsidiaries, is engaged in the manufacture and marketing of plastic pallets and pelletized recycled plastic resin. The Company is a leasing company that is engaged in the beverage, pharmaceutical and other industries, among others. Greystone processes recycled plastic into pellet form which may be sold or used in Greystone’s production of pallets. Greystone also provides tolling services whereby it grinds and pelletizes a customer’s plastic material for a fee. The Company sells its pallets through a network of independent contractor distributors and direct sales. Its offerings include beverage pallets, display pallets, drum pallets, mid-duty pallets, nestable and export pallets and runners, and rackable pallets. As of May 31, 2016, Greystone had an aggregate in-house production capacity of approximately 85,000 pallets per month for its medium and heavy-duty pallets, and 20,000 for its lightweight nestable pallets.
