Mohan Corporation Forms Partnership with Ashford Finance

BURKE, Va., Dec. 8, 2011 /PRNewswire/ -- Mohan Corporation, a wholly owned subsidiary of HPC POS Systems Corporation, (OTC: HPCS), a global manufacturer and distributor of high quality incense and oils, announces its contract with Ashford Finance based in New York, NY. Under the terms of the contract, Ashford Finance will provide a revolving Line of Credit of $1.5 million dollars in purchase order financing, and provide additional financing for accounts receivable and working capital. The lines of credit will allow Mohan Corporation to efficiently process purchase orders from its qualified distributors.

Melvin W. Coles, CEO, states, "We already placed over $1.3 million in orders through Ashford Finance, and will ramp up orders to service our national distributors and customers. We are pleased with the process, from inspection to financing, and how thoroughly they worked with our manufacturing partners on raw materials and finished incense products." 

Nosh Hasan, Ashford CEO, states, "Ashford Finance brings a global team and partners that deliver excellence and professionalism, and we worked with Mohan to take care of all purchase order financing needs. During our interview process with the distributors, we discovered that their products are of a high quality and in demand in the marketplace. We look forward to continuing to provide financing for purchase orders, accounts receivable, and other related financing needs."

About Ashford Finance.   www.ashfordfinance.com

Ashford Finance is a specialized finance company based in New York, providing purchase order financing, letters of credit and creative short-term transactional financing for importers, exporters, and other short-term borrowers.  Ashford provides 100% funding of cost, and also overlays an operational management process that ensures the goods are of proper quality, insured, and shipped on time. Ashford Finance has over 15 years of experience, managed by professionals with extensive trade, finance and merchant banking backgrounds.

About Mohan Corporation.   www.mohanincense.com

Mohan Corporation is an international manufacturer and distributor of fragranced oils and incense. The company dates its origin to 1970 and has over 100,000 wholesale and retail outlets throughout the United States. The company has registered trademarks on over 70 fragrances and packaged designs. Mohan incense is a leader in the industry, creating top quality oils and incense made from charcoal that burns without harsh or harmful residues.

"Safe Harbor Statement" under the Private Securities Litigation Reform Act of 1995. This press release contains forward-looking statements that involve risks and uncertainties. The statements in this Release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

Contact for this press release:
Melvin W. Coles
Marketing / Public Relations
Email: [email protected]

SOURCE Mohan Corporation