InvestorsHub Logo
Followers 135
Posts 11285
Boards Moderated 0
Alias Born 11/05/2013

Re: loanranger post# 68071

Thursday, 10/19/2017 12:15:05 PM

Thursday, October 19, 2017 12:15:05 PM

Post# of 81740
This might have something to do with the lack of revenue and sudden silence after early 2016...

From ASCC's last 10-Q, note 8 (link)

In January 2016, the Company received a notice from the Texas Alcoholic Beverage Commission (the “TABC”) that an administrative case had been filed against the Company’s permit to distribute distilled spirits in the State of Texas. The TABC asserted that the Company’s private labeling contract to produce RWB Vodka resulted in unauthorized manufacturing activities by the Company. The TABC has issued a cease and desist order which prohibits the manufacturer from shipping additional RWB Vodka to the Company under their existing permit. The Company is not prohibited from selling the RWB Vodka which is already held in inventory. The Company resolved this matter by selling all of their existing inventory to a third-party distributor, surrendering their existing distribution permit and applying for a non-resident seller permit from the TABC. The non-resident seller permit was issued by the TABC in May 2016. Under the non-resident seller permit, the Company would be allowed to distribute its products through a third-party distributor instead of selling directly to retailers as had in the past.


That 10Q listed a little over $8000 in "inventory." Are those the assets that ISBG just acquired? A couple pallets of old unsold vodka?