Page 4 - 2021 Noteholder Letter.Financial Report
P. 4
A look into 2021
Market demand for fire logs and for GMF’s fire logs will continue increasing. GMF will expand its
customer base beyond Ace, True Value, Aubuchon, and Home Depot. Tractor Supply, Orscheln, Dollar
General, and multiple camping and RV accounts will commence sales with GMF during 2021.
By mid-2021, we project GMF’s COGS will decrease an additional 25% as order volume increases for
GMF’s fire logs and we begin seeing the benefits of the strategic sourcing of price-sensitive raw
materials, packaging, and packing supplies.
By late 2021, we project GMF’s soon to launch production line automation program will reduce labor
costs 40% while production output will increase 50%-65%.
2020 was a good year for GMF and 2021 appears it will be the first year GMF will achieve profitability.
We thank you for your commitment to GMF. We hope you enjoy a safe and profitable year ahead.
Sincerely,
Edmund J. Connolly, III
President & CEO
www.greenmountainfirewood.com
Green Mountain Firewood - 2021
