Good Vibrations Shoes, Inc. (OTCPink: GVSI) today announced that t-coming "Micro-Brewery" or "Craft Brewery," in which the Long Beard Brewing Company will become the surviving entity.
As part of the deal, former wholly owned subsidiary, Vindai Corporation will be sold back to its founders, and the Long Beard Brewing Company will become the controlling entity as a subsidiary. Good Vibrations Shoes will file for a name change within the next two weeks to complete the terms of the deal. "Micro breweries" or "craft breweries" as they are also known, have been growing tremendously in the past several years, and more recently several breweries based in Long Island have gained national and even global notoriety as more and more beer drinkers are preferring the full flavored craft beer over the mass produced variety.
Wearing their impressive, long beards, the two founders, Paul Carlin and Craig Waltz have an exciting line of tasty craft brews for which they believe the public will go nuts, including their "Old Scruff Pale Ale" and "Evolution 90 Minute IPA." Based in Riverhead, New York, Long Beard Brewing Co. occupies a former firehouse, the perfect venue to build out its close to 4000 sqft brewery including a 900 sqft tasting room, which should open in the spring if all goes as planned. Not the first such brewery to take root in Riverhead, Long Beard joins Long Ireland Beer Co., Crooked Ladder Brewing Co. and Moustache Brewery, all successful Long Island based breweries.
Although the company already completed a portion of a private funding on its own, being publicly traded will help Long Beard Brewing Company raise additional capital when needed to really take the market by storm. New York based private equity fund, Peachtree Capital, LLC., will be working with the company to assist and spearhead any secondary financing the company may need, although its funding needs at the moment are apparently minimal. Managing director of Peachtree, Raymond Barton commented, "We are thrilled to be part of this project. Long Beard Brewing Company is what America is all about. You have a couple of hard working guys perfecting their craft and reaping the rewards in a competitive market. We plan to do everything in our power to help them succeed." Although the market may be competitive, there appears to be a lot of room for growth. Estimated at five Billion dollars annually and growing at the rate of 10% to 18% each year, Long Beard Brewing Company stands to get a piece of a sizable pie, especially considering it is now one of the few publicly traded craft breweries in the U.S.
Co-founder and now CEO of Good Vibrations Shoes, Paul Carlin commented," This company is shaping up to be a dream come true. Craig and I just love to make beer, and there's nothing more satisfying then seeing that beer being enjoyed by others. We feel like we have the right location, the right skills, the right recipes, and the right expertise in our corner. As far as we are concerned, the sky is the limit!"
ABOUT GOOD VIBRATIONS SHOESGood Vibrations Shoes operates a wholly owned subsidiary business called Long Beard Brewing Company, which is a "craft brewery" or "micro brewery" based in Long Island, NY. To find out more about the company, please visit its website at http://www.longbeardbrewing.com.
DISCLAIMER This Press Release may contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The Company has tried, whenever possible, to identify these forward-looking statements using words such as "anticipates," "believes," "estimates," "expects," "plans," "intends," "potential" and similar expressions. These statements reflect the Company's current beliefs and are based upon information currently available to it. Accordingly, such forward-looking statements involve risk, which could cause the actual results to differ materially from those expressed in or implied by such statements. The Company undertakes no obligation to update or advise in the event of any change, addition or alteration to the information catered in this Press Release including such forward-looking statements.
Long Beard Brewery makes progress as brewing begins and the company starts attending public events.
Sep 27 2016 : Good Vibrations Shoes, Inc. (OTC-PINK: GVSI) today announced that the company's subsidiary, Long Beard Brewery, has begun brewing their much anticipated beer and already has special events lined up to promote the tasty micro brew including a VFW event scheduled for today.
During the licensing process, a new brewery is not allowed to brew or have alcohol on the premises. Now, that the federal licensing is done, the company is brewing small batches of its anticipated craft beer. Larger brewing equipment, which is under construction, will allow the company to increase that volume to fulfill commercial distribution agreements and supply the company's tasting room located in Riverhead, Long Island.
Long Beard Brewery releases label designs for two new products as the company gears up for growth.
Nov. 10, 2016 : -- Good Vibrations Shoes, Inc. (OTC-PINK: GVSI) today announced that the company's subsidiary, Long Beard Brewery has released its first label designs for the company's new line of craft beers.
One of the designs is for the company's two newest craft beers, "Belgian Brombeere Weizent", a Belgian style ale made with fresh local blackberries that is very pale and cloudy due to being unfiltered, the other is for "Fuzzy Poms", a dark oatmeal milk stout made with fresh local peaches that were baked and caramelized giving it a great flavor and also has subtle vanilla aromas. Both products show the company's willingness to push the limits of creativity, creating something very unique and true to their brand. The designs can be seen on the company's website at www.longbeardbrewing.com. These labels are the first of many to come. Long beard is just beginning to roll out product that will excite beer enthusiasts everywhere.
Company CEO Paul Carlin commented, "I am very excited about releasing the label designs to the public because I want them to see that we are not just another micro brewery. We have a lot of creative ideas and we aim to push the envelope and stimulate the senses with uniquely tasty brews."
The company has also taken some debt off the books and hopes to release update financials very soon showing that. Although removing debt from the books always involves some small increase in the OS, Good Vibrations Shoes has tried to negotiate to remove this debt with the least amount of dilution possible. This will help to clean up the books and put the company in a better position moving forward. The company is also preparing to file for a name change from Good Vibrations Shoes, Inc. to Long Beard Breweries, Inc. The company did file an earlier application, which was denied due to a technicality, which the company feels was an oversight on FINRA's part. FINRA mistakenly thought the company was fully reporting, and because of the way the system works the only option was to wait and re-file or go through a timely and expensive appeals process. Long beard will take extra measures this time around to clarify its status as a non-reporting company, which is expected to cause the name change to go smoothly. For the most part, major marketing and product rollout has been delayed awaiting the approval of the name change.
Q&A letter November 17 2016
I know everyone is concerned about the recent volume and apparent selling of shares in GVSI, so I wanted to address it and the most common questions I am receiving. These are some of the common questions I am getting:
Q: Are you or the company selling shares into the market?
A: No. In fact, that would be illegal. In order to sell shares into the market a public company would have to do a registration statement. A principal or insider of a company like myself can only sell shares after filing disclosures with Edgar and even then in very small amounts (1% of the daily average volume). However no firm that we know of even allows an insider to have an account and deposit shares at all so even if you followed these rules, it cannot happen.
Q: Where are the shares coming from that are being sold?
A: Two places. The first is previous shareholders that have held their stock for over two years. Old restricted shares can be freed up by filing a form with the TA along with a legal opinion if held for at least two years, and this has been happening occasionally throughout the year as former board members and others realize they have shares and decide to liquidate them. The second source is debt from our books converted into shares. This can happen at any time after the debt has been held for two years however it must have been already disclosed in our filings previous to converting it. Both of these sources do not benefit the principals of the company in any way, and we really have no choice but to allow it. The people selling shares have purchased them, worked for them, or purchased debt notes years ago and have a legal right to liquidate.
Q: Why don’t you disclose to us these sources to us so we expect the dilution to occur?
A: The answer is simple, we did, and we continue to. Every single new share ever issued is listed right in the disclosure documents for you to see two years in advance. No shares hitting the market should ever be a surprise to anyone. If you have purchased shares of GVSI in the past two years then when you purchased your shares you should have known exactly where the OS could land if all the current debt was converted to shares, and where the float should land if all restricted shares are freed up because all of this has been disclosed for two years (or more in some cases). Always assume that any debt on the books will be converted in two years at a rate of 50% of whatever the market price is when they convert. I always assume the worst and calculate the conversions taking place at .0001 just to be safe. So if there is $50,000 in convertible debt, I always assume 500 mil shares will be coming. Its usually much less than that but I look at the worst case scenario with a Pink Sheet stock.
Q: In the past two weeks there has been a billion shares of volume, does that mean a billion shares were added to the OS?
A: NO. Absolutely not. With Pink Sheet companies, Brokers often route sales through several market makers who then route through one or two market makers. As a result the same shares can count towards the volume three or four times over the course of a few days. This is the way the business works and if you look at the Time and Sales you’ll see the same numbers being sold several times. These are multiple prints of the same sale, and are often double the size of the actual sale. A single sale of 10 million shares can show as 30 million one day and 20 million the next, but it was still only 10 million shares, not 50 million as it would appear. This is not always the case but if you look, you’ll see the tell tale signs of multiple prints.
Q: Does any good come from dilution?
A: YES. For starters, debt sitting on our books comes off and with a cleaner balance sheet the company becomes much more attractive to new investors. Second this, cleaned up balance sheet offer’s the company the ability to raise funding to grow operations and become a bigger better company
Q: Will you be updating your OS and disclosures soon?
A: Yes, we plan to have everything updated within the next couple of weeks. Updating everything can be time consuming and expensive so please try to be patient as we bring everything up to date.
In order for a company to grow, expand or in our case get the doors open so we can grow and rapidly expand, you need to fund.
This way we can bring real value to this.
It's about the brewery and will always be about the brewery. It is going to be the driving force behind the stock.
LAST TA UPDATE 20161118
TA NUMBERS 11/18/16