High Performance Beverage Co. Announces Official Production Date for Their High Performance Sports Beverage
(firmenpresse) - CAVE CREEK, AZ -- (Marketwired) -- 05/12/15 -- High Performance Beverage Co. (OTC PINK: TBEV) (the "Company") is pleased to announce a definitive date for the official start of production for their High Performance Sports Beverage.
After careful consideration, taking into account all parties involved with the manufacturing, bottling and marketing of High Performance Sports Beverages, the company has set its official production date for June 29, 2015.
Mike Holley, High Performance Beverage President, stated, "Many months of preparation have gone into setting up the best relationships possible in order to finally bring our product to market under the High Performance Beverage name. We are extremely confident that once our sports beverage becomes available to the retail consumer, we will experience rapid growth and distribution throughout the U.S." He also stated, "Our product will immediately become available for retail sale through our company website as we initiate various lines of distribution on both East and West coasts. We also expect to expand our sales exposure through various retail sites via an internet presence. Additionally, we intend to award all Sweepstakes winners during our first week of production and look forward to their feedback."
The Company would also like to report they are in the process of filing an amendment to its 10K/A filed on January 23, 2015. The purpose of this recent amendment is to add additional explanation and clarification to the description of the change in compensation expense for the year ended July 31, 2014 in Part II, Item 7, Management''s Discussion and Analysis.
The original text read as follows:
Compensation increased by $872,627, from $364,004 during the year ended July 31, 2013 to $1,236,631 during the year ended July 31, 2014. The increase was primarily due to $375,946 in share based in the current period and none in the prior year and an increase in cash compensation expense of $740,432. All cash compensation was paid to Messrs. Holley and McBride and one sales manager.
The corrected text in the new 10K/A reads as follows:
Compensation increased by $872,627, from $364,004 during the year ended July 31, 2013 to $1,236,631 during the year ended July 31, 2014. The increase was primarily due to an increase in share based compensation related to endorsement contracts of $833,561, from $250,527 in the prior year to $1,084,088 in the current year, an increase in cash compensation expense to operations staff of $15,750 and a decrease in cash compensation was paid to Messrs. Holley and McBride of $1,750.
The clarification of this paragraph reflects an accurate accounting of compensation expense and should put to rest any concerns as to what the Officers of High Performance Beverage are being compensated or reimbursed.
To review the full SEC 10K/A filing:
For more information go to:
High Performance Beverage
About High Performance Beverage Company
High Performance Beverage Company has created a new beverage segment, under the trade name, Throwdown Performance Beverages, which manufactures and distributes a line of sport performance beverages. High Performance Beverage Company''s sport performance drinks are carefully formulated to support mental focus and help increase blood flow, thereby giving the body the necessary fuel to power through a specific event or throughout the day. Our unique blends are designed to bridge the gap between supplements, energy and hydration drinks, ultimately broadening our appeal and providing access to an expanding target market. High Performance beverages are sugar free and extremely low in both calories and caffeine. This positioning makes High Performance Beverage Co. beverages first to market with a sustainable competitive advantage.
Safe Harbor
This release contains statements that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements appear in a number of places in this release and include all statements that are not statements of historical fact regarding the intent, belief or current expectations of High Performance Beverage Company, its directors or its officers with respect to, among other things: (i) financing plans; (ii) trends affecting its financial condition or results of operations; (iii) growth strategy and operating strategy. The words "may," "would," "will," "expect," "estimate," "can," "believe," "potential" and similar expressions and variations thereof are intended to identify forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond High Performance Beverage Company''s ability to control, and that actual results may differ materially from those projected in the forward-looking statements as a result of various factors. More information about the potential factors that could affect the business and financial results is and will be included in High Performance Beverage Company''s filings with the Securities and Exchange Commission.
High Performance Beverage Co.
Public Relations and Shareholder Information
Joseph M. Vazquez III
Phone: (800) 767-9396
Email:
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Datum: 12.05.2015 - 06:30 Uhr
Sprache: Deutsch
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