|Strategic Update from Growers Direct Coffee Company’s President & CEO |
Growers Direct Coffee Company, Inc. (OTCBB: GWDC) announced a strategic update today.
GWDC’s President & CEO, Mick Rynning, stated, “It’s been nearly two months since I came on board with Growers Direct Coffee Company. Since that time, our team has been diligently working to assess the current state of affairs in the company, which we have now completed in a comprehensive Strengths, Weaknesses, Opportunities and Threats (SWOT) assessment. Subsequently, our team has made considerable effort to solidify our, “Tree to Cup,” vertical integrated strategy, which sets the course for our future success in growth of the company, meeting our customer’s needs, acquiring new customers, as well as improving the investment position of all current shareholders.” Mick continued, “So far, all strategies have advanced forward and a series of press releases will be made upon successful conclusion of strategic ventures. Some of our strategies are significant, innovative, and are not currently being pursued by our competitors, which is why it's been "close to the vest". We believe our market approach is innovative and we intend to become an industry leader as we advance.” Mick further added, “It’s at times like these, in our current economic conditions, that only the most smartly strategized and funded companies will be the “lights in the darkness” of the current market. The coffee segment is a good recession-resistant place for some of the smart money right now, especially with our new viable, effective and executable strategic plan. We are in discussions to secure funding for our new strategic plan, and news of that funding, as well as an outline of the new plan will be forthcoming.” In closing, Mick stated, “I cannot overstate the importance of our team taking the necessary time to develop our new strategic plan, for it is the foundation of all our successes. In the immortal words of Sun Tzu, “This is the art of strategy. It is the most important skill in the nation. In situations of life and death, it is the way of survival or extinction.” At Growers Direct Coffee Company, we fully intend to be both survivors and growers, as we execute our “Tree to Cup” vertically integrated strategy. Our Tree to Cup strategy is an excellent business model that allows our company to pursue opportunities, in spite of these challenging times." For more additional information about us and our coffee products, visit our website at www.growersdirectcoffee.com. Our wholly owned subsidiary, Uncommon Grounds Inc., established in 1984, is a coffee roasting and wholesale company based in Berkeley, California. Visit the website at www.uncommongrounds.net to purchase online artisan roasted blends and single origin coffee beans from Papua New Guinea, Jamaica, Sumatra, Columbia, Brazil and Nicaragua.
Except for the historical matters contained herein, statements in this press release contain “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements involve risks and uncertainties which may affect the Company's current and future business and prospects. Actual results could differ materially, as a result of various risk factors including but not limited to: (1) competition in the markets for the Company's coffee; (2) the ability of the Company to execute its business plan; and (3) other factors detailed in the Company's public filings with the SEC. By making these forward-looking statements, the Company can give no assurances that transactions described in this press release will be successfully completed, and undertakes no obligation to update these statements for revisions or changes after the date of this press release. This release should be read in conjunction with our Annual Report on Form 10-KSB and our other filings with the SEC through the date of this release, which identifies important factors that could affect the forward-looking statements in this release. In addition, factors that could cause actual results to differ materially from those contemplated in the statements include, without limitation, overall economic conditions, and other risks associated generally with the green bean and roasted coffee business. These forward-looking statements are not guarantees of future performance.
Growers Direct Provides Corporate Update and New Management (NOTE: 10Q was later filed and E removed)
Date : 08/19/2008 @ 9:10AM
Growers Direct Coffee Company, Inc. (OTCBB: GWDC): announced today that the board of directors have appointed Mr.Mick Rynning as the new President and CEO of Growers Direct Coffee Company Inc. Interim President JD Douthitt will serve as Chairman of the board. Nepal Muhuri remains a director and interim CFO. JD Douthitt, Chairman, stated, “Mick certainly has the credentials to lead this company and I share his vision of growth for the future. Execution is the key to success, and with Micks’ proven track record of growth and management, I am confident the future of our company is in good hands.” Mick Rynning, the new President and CEO commented, “I firmly believe that our utmost success will be achieved through genuine and mutually-beneficial relationships, guided by solid strategic planning and timely tactical execution. Using a collaborative-leadership style, I intend to meet the demands of our customers, and to facilitate the success of our business partners as we forge the future together. Growers Direct Coffee Company has a business model that is uniquely positioned in today’s marketplace, one that serves our coffee growers, while meeting consumer demand for best-in-class green coffee beans and artisan roasted coffees. We are just the conduit to facilitate and, as we execute, everyone in the pipeline will share in our collective success.” The new board is currently evaluating the state of our green coffee bean wholesale business, as well as our existing strategies for growth. After the review of our current strategies, affiliations and markets is complete, the board will announce its future plans regarding our “Tree-to-Cup” distribution model. The new board has made arrangements with several sophisticated investors to provide adequate working capital for the next six months. Further long term financing strategies will be announced upon reaching agreement with the financiers.
Management is working very hard to file the currently due 10QSB, quarterly statement, for June 30, 2008 in a timely fashion.
Date and venue for the Annual General Meeting will be announced once determined by the board of Directors.
Growers Direct Coffee Company, Inc. - Notification that Quarterly Report will be submitted late (NT 10-Q)
Date : 08/14/2008 @ 1:49PM
Growers Direct Coffee Appoints Mick Rynning as a Director
Date : 08/12/2008 @ 8:50AM
Growers Direct Coffee Company, Inc. (OTCBB: GWDC): announced today that the board of directors have appointed Mr. Mick Rynning as a new director of Growers Direct Coffee Company, Inc. (“GWDC”) Mr. JD Douthitt becomes the new
Chairman of the Board and the other director Mr. Nepal Muhuri is the interim Chief Financial Officer.
Chairman JD Douthitt commented that “Mr. Rynning is a hands-on guy who has the experience and exceptional credentials in the food and beverage industry, particularly in the coffee and franchise sector, that I am sure will greatly benefit the future growth of GWDC. I welcome Mr. Rynning as a director and will work very closely with him as we embrace the challenges of turning around GWDC.” Mick Rynning said “I have been aware of Growers Direct Coffee Company for some time and have admired their business model and top-shelf product offerings. I very much look forward to working with the Board of Directors to assess the overall state, structure and organization of GWDC, and to formulate a new strategic roadmap for our success. While shareholder value is fundamentally important, my focus will be on the drivers, key performance indicators, and relationships that will lead to increased value for our shareholders, business partners, and customers, alike. We will keep our shareholders informed as we move forward.” Mr. Rynning holds a Bachelor of Science degree in Management from Oklahoma City University, Oklahoma, 1983, as well as Certificate, Management 2000 Franchise Business School, Houston, Texas, 2001. His past and current affiliations include: Executive Board Member, Fast Casual Magazine Executive Alliance, Speaker/Educational Panel Member, National Restaurant Association, International Franchise Association, National Coffee Association USA, Specialty Coffee Association of America.
Mr. Rynning is a result-oriented business executive with wealth of experience in senior management positions and proven achievements in companies ranging from new regional and national start-ups to multi billion dollar International franchise operations. Drawing on his diverse experience of management and operations, Mr. Rynning is uniquely poised to take GWDC to an improved future.
Mr. Rynning was recently the President of Ellianos Coffee Company based in Lake City, Florida. Previously, Mr. Rynning served as a Director of International Business Development for Church’s Chicken based in Atlanta, Georgia. Mr. Rynning’s other business and franchise experience includes working as both the National Franchise Manager and Georgia District Operations Manager for OneSource Franchise Systems of Atlanta, Georgia. Mr. Rynning has also worked as the Manager of International Franchise Administration for Atlanta-based AFC Enterprises, Inc., and working with the CEOs of AFC’s four subsidiary brands (Popeyes Chicken & Biscuits, Church's Chicken, Cinnabon, and Seattle's Best Coffee).
Growers Direct Coffee Management Changes
Date : 08/08/2008 @ 4:30PM
Growers Direct Coffee Company, Inc. (OTCBB:GWDC) announced today that Mr. JD Douthitt, a shareholder, has been appointed a director and interim President of Growers Direct Coffee Company, Inc. Mr. Nepal Muhuri, the remaining director will act as the interim Chief Financial Officer. Mr. Douthitt commented “As an initial long term investor, I was left with no alternative but to welcome the challenge of turning around Growers Direct. I have commenced to contact our suppliers to help salvage our core business. The first order of business is to file the June 30, 2008, quarterly statements, while assessing the overall state of affairs of the Company. I have commenced funding negotiations to rebuild the business. I will also call a shareholders’ meeting at the earliest possible time.” Mr. Douthitt brings to Growers Direct over 40 years of successful business experiences in heavy equipment, manufacturing and ranching. Mr. Douthitt is based in Houston, Texas. Effective August 6, 2008, Vincent Cafici has resigned as the Chief Financial Officer, Secretary and as a member of the Board of Directors of Growers Direct Coffee Company, Inc. Mr. Cafici also resigned as a member of the Board of Directors and as Chief Financial Officer and Secretary of Uncommon Grounds, Inc., a subsidiary of the Company. Effective August 7, 2008, Paul Khakshouri has resigned as the Chief Operating Officer, President and as a member of the Board of Directors of Growers Direct Coffee Company, Inc. Mr. Khakshouri also resigned as a member of the Board of Directors and as Chief Operating Officer and President of Uncommon Grounds, Inc., a subsidiary of the Company.
About Growers Direct Growers Direct Coffee Company, Inc. (OTCBB: GWDC), formerly Coffee Pacifica, Inc., is a worldwide distributor and marketer of gourmet, specialty whole green bean and roasted coffees. The Company sells its coffee beans directly to coffee retailers, commercial roasters, coffee brokers, and specialty grocery and gourmet food stores worldwide. The Company places emphasis on being a sustainable and model corporate citizen by partnering with coffee farmers in countries such as Papua New Guinea, Jamaica, Colombia, and Ethiopia, to increase wages and impart knowledge on environmentally sound farming techniques. Growers Direct also has exposure to the direct-to-consumer retail market through its wholly owned subsidiary, Uncommon Grounds, Inc., a coffee roasting company based in Berkeley, California established in 1984. The Company was founded in 2001 and underwent significant management changes in April 2008. Grower’s Direct Coffee Company is headquartered in New York City. Please visit www.uncommongrounds.net to purchase and “cup” the Company’s diverse range of roasted coffee beans.
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