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Yeah im holding at 20k worth in shares
Thinking they will be doing better because of contract with Publix
https://www.prnewswire.com/news-releases/eastside-distilling-partners-with-florida-grocery-leader-publix-to-offer-fast-growing-redneck-riviera-whiskey-300974496.html
And the loan they don't have to payback
https://www.prnewswire.com/news-releases/eastside-distilling-receives-1-4-million-ppp-loan-approval-and-funding-301041703.html#:~:text=Eastside%20Distilling%20Receives%20%241.4%20Million%20PPP%20Loan%20Approval%20and%20Funding,-News%20provided%20by&text=Eastside%20Distilling%2C%20Inc.&text=The%20funding%20will%20provide%20additional,to%20the%20COVID%2D19%20pandemic.
I would not consider "investing in this company with current leadership"
That is my Personal opinion.
Buying it to flip might be a good play when you can catch it at $1 or so...
Thinking this buy hold will be worth it here to 17,000 shares
yep and an Obvious PUMP going on now ...
I got burned by them years ago, can't even remember how long ago. Still being run by douchebags I see. Nice.
Low interest loan / grant 1.4 Mill or so
Like people stopped drinking ...LOL
Somethings up ;)
Too funny, Part Time officers, this train wreck of a company keeps getting funnier and funnier...
In connection with Mr. Schreiner’s appointment as Interim Chief Financial Officer, Eastside entered into a CFO Consulting Agreement dated March 2, 20220, with GSS Consulting, LLC, an entity through which Mr. Schreiner provides consulting services (the “Consulting Agreement”). The Consulting Agreement provides, among other things, that Mr. Schreiner will serve as a non-employee Chief Financial Officer on a part-time basis, in exchange for a fee of $125 per hour.
They ad more non beverage background people to the team, seriously do these guys have a clue at all ????
Share structure changes and Price = EAST gets a ______________ Grade
you fill it in and comment ....
they need to spend a little and get a beverage person...
bean counters and paper pushers (nothing personal) your good at what you do normally But you are missing real growth,
what they have done so far are baby steps in the real beverage world...
sales increase yes, but probably 20 to 30 % of what they could have done
in today's market.
they lost a big tax benefit, so that's gonna hurt numbers
but other analytics for growth remain strong.
Another Major marketing mistake that they continue to make is
not jumping into "ultra premium" products....
same cost of goods, way higher profit ... Premium branded products in the market have performed better the middle of the road.
EAST has the core ability to produce a new branded high end retail line of whisky and price it as a 3x to 5x of current goods.
that nitch is where the real money is being made by the other companies.
the older management team made mistakes in funding (turned down $ at better terms than they ultimately got)
they also missed a major distribution deal from the same group.
their egos got in the way and they got their heads handed to them by the new money guys... normal....
if the company is reading theses post they might want to review what i just posted, the intermediary on the deal was their old IR firm.
and they can pm me here for info on the distribution deal, it's still doable...
MGMT are financial guys. IMO they are actually pulling this off. I just can't pull the trigger to buy it because I've seen this show before. I know more creative debt and equity financing/dilution is in their future.
They're trying to scale up. It could be another 3 - 5 years before they are EBITDA profitable, and will be on the cusp of not needing to dilute.
That will only be after they have a clear path towards their inventory build with product that needs to age.
When I see the clear path to those things I will become a shareholder.
Until then I am patiently watching and waiting.
$5.93 Million in Sales Expected for Eastside Distilling Inc (NASDAQ:EAST) This Quarter
Posted by Ken Giver on Jan 17th, 2020
Equities research analysts expect Eastside Distilling Inc (NASDAQ:EAST) to announce $5.93 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Eastside Distilling’s earnings, with the highest sales estimate coming in at $6.40 million and the lowest estimate coming in at $5.46 million. Eastside Distilling reported sales of $1.89 million during the same quarter last year, which indicates a positive year-over-year growth rate of 213.8%. The company is scheduled to announce its next earnings results on Thursday, March 26th.
According to Zacks, analysts expect that Eastside Distilling will report full year sales of $17.76 million for the current financial year, with estimates ranging from $17.29 million to $18.23 million. For the next fiscal year, analysts anticipate that the business will report sales of $26.47 million, with estimates ranging from $25.71 million to $27.22 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Eastside Distilling.
Eastside Distilling (NASDAQ:EAST) last announced its quarterly earnings data on Thursday, November 14th. The company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.14). The firm had revenue of $4.43 million for the quarter, compared to the consensus estimate of $4.57 million. Eastside Distilling had a negative net margin of 90.06% and a negative return on equity of 76.50%.
Separately, ValuEngine upgraded shares of Eastside Distilling from a “hold” rating to a “buy” rating in a report on Friday, January 3rd.
Shares of NASDAQ EAST opened at $3.17 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.83 and a current ratio of 4.00. The company has a market cap of $30.14 million, a P/E ratio of -2.13 and a beta of 0.24. The firm’s fifty day moving average is $3.08 and its two-hundred day moving average is $4.12. Eastside Distilling has a 52-week low of $2.51 and a 52-week high of $6.60.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Penbrook Management LLC bought a new stake in Eastside Distilling in the 3rd quarter valued at $600,000. Connors Investor Services Inc. increased its holdings in Eastside Distilling by 13.6% in the 3rd quarter. Connors Investor Services Inc. now owns 70,936 shares of the company’s stock valued at $347,000 after acquiring an additional 8,500 shares during the last quarter. BlackRock Inc. increased its holdings in Eastside Distilling by 27.4% in the 2nd quarter. BlackRock Inc. now owns 22,344 shares of the company’s stock valued at $101,000 after acquiring an additional 4,810 shares during the last quarter. Citadel Advisors LLC bought a new stake in Eastside Distilling in the 2nd quarter valued at $48,000. Finally, First Wilshire Securities Management Inc. bought a new stake in Eastside Distilling in the 2nd quarter valued at $45,000. Institutional investors own 40.35% of the company’s stock.
Eastside Distilling Company Profile
Eastside Distilling, Inc develops, manufactures, produces, and markets hand-crafted spirits in the United States. The company offers bourbon under the Burnside West End Blend, Burnside Oregon Oaked Bourbon, and Burnside Goose Hollow RSV Bourbon brand names; premium whiskey under the Barrel Hitch American Whiskey brand names; distinctive whiskey under the Cherry Bomb Whiskey and Marionberry Whiskey brand names; rum under the Below Deck Silver Rum, Below Deck Spiced Rum, Below Deck Coffee Rum, and Below Deck Ginger Rum brand names; and vodka under the Portland Potato Vodka brand name.
Maybe hire someone from the beverage industry ? Novel thought...
Eastside Announces New $8 Million Inventory Credit Facility
NEWS PROVIDED BY
Eastside Distilling, Inc.
Jan 16, 2020, 16:15 ET
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PORTLAND, Ore., Jan. 16, 2020 /PRNewswire/ -- Eastside Distilling, Inc. (NASDAQ: EAST), today announced it has closed a new asset-based revolving credit facility of up to $8 million in available principal amount with Live Oak Bank backed by the Company's spirits inventory. The Company expects to use this new credit facility to pay off and replace the two existing inventory facilities of $5 million capacity with KFK and TQLA and to fund general working capital. In addition to the increased availability of up to $3 million, the new credit facility offers a number of potential advantages to Eastside, including a reduction in the interest rate. The new credit facility, coupled with the $2 million Accounts Receivable factoring agreement signed in December 2019, provides the Company with up to $10 million of aggregate financing to refinance existing debt and fund growth in the business.
"We are extremely pleased to have closed this new $8 million inventory facility with Live Oak Bank allowing us to consolidate our debt and increase our borrowing capacity by further leveraging our valuable spirits inventory," commented Lawrence Firestone, Eastside's CEO. "The completion of this inventory facility, coupled with our recently signed accounts receivable facility, were key objectives to access capital in a non-dilutive structure to fund the growth of the business going forward. We look forward to working with Live Oak Bank on an ongoing basis, as they have demonstrated a strong understanding of the value of our spirits inventory as an appreciable asset and are supportive of our going forward strategy to grow Eastside Distilling."
Additional details on the new credit facility can be found in an 8-K filed today at www.sec.gov.
About Eastside Distilling
Eastside Distilling, Inc. (NASDAQ: EAST) has been producing high-quality, craft spirits in Portland, Oregon since 2008. The company is known for its award-winning product line, including Redneck Riviera Whiskeys, Azuñia Tequila, Hue-Hue Coffee Rum, Burnside Bourbons, Portland Potato Vodkas, and a distinctive line of fruit infused spirits. All Eastside spirits are crafted from natural ingredients for quality and taste. Eastside's Craft Bottling + Canning subsidiary is one of the Northwest's leading independent spirit bottlers and ready-to-drink canners. For more information visit: www.eastsidedistilling.com or follow the Company on Twitter and Facebook.
Important Cautions Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: the availability of credit under the Company's new credit facility, which is subject to a borrowing base; the Company's ability to execute its business model and strategic plans; acceptance of the Company's products in the market; changes in economic conditions; general competitive factors; the Company's success in obtaining new customers; the Company's success in product development; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our use of proceeds and our ability to utilize our credit facilities to the maximum amount available. The Company assumes no obligation to update the cautionary information in this release.
SOURCE Eastside Distilling, Inc.
Related Links
https://www.eastsidedistilling.com
Tax reduction set to expire on liquor, will impact net revenue significantly
Rodney Dangerfield of Booze Stocks?
273 Publix stores and it ticks down. Time to study this.
http://beveragestartupnews.com/redneck-riviera-whiskey-east-2-73-into-273-publix-stores-fl/
.38% gross margin, with their load is not gonna cut it till they hit much bigger volume thru bigger distribution channels.
If they can break that mark on their premium brands I think they could be a winner.
There has to be 100% focus on expanded sales. At this point nothing else really matters, or it just another dilution machine ...and we know how that ends. Shareholders get screwed.
Eastside Distilling EPS misses by $0.14, misses on revenue
Nov. 14, 2019 4:18 PM ET
About: Eastside Distilling, Inc. (EAST)
By: Vandana Singh, SA News Editor
Eastside Distilling (NASDAQ:EAST): Q3 GAAP EPS of -$0.38 misses by $0.14.
Revenue of $4.43M (+197.3% Y/Y) misses by $0.14M.
They have to re-start the dilutive equity raises.
I like watching, but the PPS is going to drift south until it's under a dollar again.
https://seekingalpha.com/pr/17700280-eastside-reports-third-quarter-2019-financial-results
PORTLAND, Ore., Nov. 14, 2019 /PRNewswire/ -- Eastside Distilling, Inc. (EAST) reported third quarter 2019 financial results for the period ended September 30, 2019.
Financial Results
Gross sales were $4.7 million, an increase of 179% compared to $1.7 million in Q3 2018, and up 12% sequentially compared to $4.3 million in Q2 2019.
Q3 2019
Q2 2019
Q3 2018
Amount
Amount
Change
Amount
Change
Total Gross Sales
$ 4,746,815
$ 4,252,415
12%
$ 1,698,848
179%
Branded and Retail Sales
$ 2,357,546
$ 1,529,413
54%
$ 1,243,693
90%
National Platform
$ 1,458,488
$ 614,888
137%
$ 554,757
163%
Oregon
$ 899,058
$ 914,525
-2%
$ 688,936
30%
Co-Packing Services
$ 2,389,269
$ 2,723,002
-12%
$ 455,155
425%
The operations of Azuñia, which were acquired on September 12, 2019, contributed $232,571 in gross sales during the abbreviated quarter.
Gross margins on net sales improved to 40% during Q3 2019 compared to 38% in Q2 2019, and flat compared to 40% in the year ago third quarter. Operating expenses of $5.2 million were up compared to $4.3 million in Q2 2019 and compared to $2.7 million in Q3 2018.
The Company incurred approximately $420,000 of expenses during Q3 2019 pertaining to legal and other acquisition related expenses associated with the Azuñia transaction and board-related matters.
Adjusted EBITDA (see attached table) during Q3 2019 was $(2.4) million, which compared to $(2.0) million in Q2 2019 and $(1.4) million in Q3 2018. Excluding the one-time expenses pertaining to legal and other acquisition related expenses associated with the Azuñia transaction and board-related matters, Adjusted EBITDA would have been approximately $(2.0) million.
Net loss was $(3.5) million during Q3 2019 compared to a net loss of $(2.9) million in Q2 2019 and $(2.6) million in Q3 2018.
Case Volume (9-Liter Equivalent)
Q3 2019
Q2 2019
Q3 2018
Amount
Amount
Change
Amount
Change
Total Branded Case Volume
18,710
11,697
60%
8,991
108%
Redneck Riviera Case Volume
10,577
4,271
148%
3,547
198%
Management Commentary
"We delivered strong third quarter case count and revenues. Demand for our products in off-premise distribution channels is strong," said Lawrence Firestone CEO. "We closed the acquisition of Azuñia just before the quarter end and are excited to integrate these great organic tequila products into our lineup as this will continue to add to our growth story going forward."
Use of Non-GAAP Measures
Eastside Distilling's management evaluates and makes operating decisions using various financial metrics. In addition to the Company's GAAP results, management also considers the non-GAAP measure of adjusted EBITDA. Management believes this non-GAAP measure provides useful information about the Company's operating results.
The Company defines adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, stock-based compensation and the newly implemented lease accounting. The table below provides a reconciliation of this non-GAAP financial measure with the most directly comparable GAAP financial measure.
Conference Call
The Company will hold a conference call today to discuss these results.
Date and Time: 5:00pm ET (2:00pm PT) on Thursday, November 14, 2019
Call-in Information: Interested parties can access the conference call by dialing (844) 889-4332 or (412) 717-9595.
Live Webcast Information: Interested parties can access the conference call via a live Internet webcast, which is available in the Investor Relations section of the Company's website at https://www.eastsidedistilling.com/investors/.
Replay: A teleconference replay of the call will be available for three days at (877) 344-7529 or (412) 317-0088, confirmation #10136838. A webcast replay will be available in the Investor Relations section of the Company's website at https://www.eastsidedistilling.com/investors/ for 90 days.
About Eastside Distilling
Eastside Distilling, Inc., founded in 2008, has developed, matured, perfected or acquired, then launched many award-winning spirits, while evolving to meet the growing demand for quality products and services associated with the burgeoning craft and premium beverage trade. The Company's portfolio includes Redneck Riviera Whiskey, a partnership with John Rich, the multi-platinum country-music artist and one-half of the award-winning duo Big & Rich, the Quercus Garryana barrel-finished Burnside Whiskey family, Azuñia Organic Tequilas, Hue-Hue Cold Brewed Coffee Rum, Portland Mule canned cocktails, Outlandish CBD Seltzers and Tonics, and others. The Company is honored to give a percentage of sales proceeds on Redneck Riviera products to Folds of Honor, a charitable foundation that awards scholarships to spouses and children of fallen veterans. In addition to the Company's branded products, the Company has strategically enhanced its capabilities to bring new and trending products to the market, including its Craft Canning + Bottling subsidiary, which is one of the Northwest's leading independent spirit bottlers and ready-to-drink canners. For more information visit: www.eastsidedistilling.com or follow the Company on Twitter and Facebook.
Important Cautions Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in obtaining new customers; the Company's success in product development; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to release of new products and entering into RTD and CBD markets, growth prospects, receipt of future authorizations or anticipated revenues, our expected success in integrating acquired entities and assets, including expected co-packing sales momentum and production efficiencies associated with the acquisition of CC+B, and our strategic focus, product verticals, and expected financial performance and profitability. The Company assumes no obligation to update the cautionary information in this release.
Financial Summary Tables
The following financial information should be read in conjunction with the unaudited financial statements and accompanying notes filed by the Company with the Securities and Exchange Commission on November 14, 2019 on Form 10-Q for the period ended September 30, 2019, and which can be viewed at www.sec.gov and in the investor relations section of the Company's website at www.eastsidedistilling.com.
Eastside Distilling, Inc. and Subsidiaries
Consolidated Balance Sheets
September 30, 2019 and December 31, 2018
September 30, 2019
December 31, 2018
Assets
Current assets:
Cash
$ 446,983
$ 10,642,877
Trade receivables
2,126,665
1,064,078
Inventories
12,257,883
11,017,459
Prepaid expenses and current assets
609,306
765,146
Total current assets
15,440,837
23,489,560
Property and equipment, net
5,608,920
1,758,130
Right of use asset
899,483
-
Intangible assets, net
14,648,543
285,676
Goodwill
28,182
28,182
Other assets
1,111,900
796,260
Total Assets
$ 37,737,865
$ 26,357,808
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable
$ 1,872,016
$ 1,984,690
Accrued liabilities
801,329
386,166
Deferred revenue
968
1,728
Current portion of notes payable
558,912
-
Current portion of lease liability
624,564
Total current liabilities
3,857,789
2,372,584
Lease Liability - less current portion
425,775
-
Secured trade credit facility, net of debt issuance costs
2,952,413
2,934,106
Deferred Consideration for Azunia acquisition (Long Term)
12,781,092
Notes payable - less current portion and debt discount
3,924,762
2,300,000
Total liabilities
23,941,831
7,606,690
Commitments and contingencies (Note 10)
Stockholders' equity:
Common stock, $0.0001 par value; 15,000,000 shares authorized; 9,516,581 and 8,764,085 shares issued and outstanding at Sept 30, 2019 and December 31, 2018, respectively
951
876
Additional paid-in capital
50,557,291
45,888,872
Stock payable
-
-
Accumulated deficit
(36,762,208)
(27,138,630)
Total Eastside Distilling, Inc. Stockholders' Equity
13,796,034
18,751,118
Noncontrolling interests
-
-
Total Stockholders' Equity
13,796,034
18,751,118
Total Liabilities and Stockholders' Equity
$ 37,737,865
$ 26,357,808
Eastside Distilling, Inc. and Subsidiaries
Consolidated Statements of Operations
For the Three and Nine Months Ended September 30, 2019 and 2018
Three Months Ended
Nine Months Ended
Sept 30, 2019
Sept 30, 2018
Sept 30, 2019
Sept 30, 2018
Sales
$ 4,746,815
$ 1,698,848
$ 12,684,930
$ 4,787,097
Less excise taxes, customer programs and incentives
311,975
209,801
858,613
553,030
Net sales
4,434,840
1,489,047
11,826,317
4,234,067
Cost of sales
2,668,211
886,828
7,402,749
2,278,119
Gross profit
1,766,629
602,219
4,423,568
1,955,948
Operating expenses:
Advertising, promotional and selling expenses
1,824,893
1,128,593
4,394,311
2,838,417
General and administrative expenses
3,386,910
1,559,833
9,141,839
4,267,831
Loss on disposal of property and equipment
(14,104)
-
(14,104)
-
Total operating expenses
5,197,699
2,688,426
13,522,046
7,106,248
Loss from operations
(3,431,070)
(2,086,207)
(9,098,478)
(5,150,300)
Other income (expense), net
Interest expense
(113,287)
(540,250)
(338,599)
(703,903)
Other income (expense)
58
-
852
2,700
Total other expense, net
(113,229)
(540,250)
(337,747)
(701,203)
Loss before income taxes
(3,544,299)
(2,626,457)
(9,436,225)
(5,851,503)
Provision for income taxes
-
-
-
-
Net loss
(3,544,299)
(2,626,457)
(9,436,225)
(5,851,503)
Dividends on convertible preferred stock
-
-
-
-
Income (loss) attributable to noncontrolling interests
-
(534)
-
(637)
Net loss attributable to Eastside Distilling, Inc. common shareholders
$ (3,544,299)
$(2,626,991)
$ (9,436,225)
$ (5,852,140)
Basic and diluted net loss per common share
$ (0.38)
$ (0.42)
$ (1.03)
$ (1.07)
Basic and diluted weighted average common shares outstanding
9,255,347
6,256,459
9,155,397
5,462,070
Three Months Ended
Nine Months Ended
September 30
September 30
2019
2018
2019
2018
Net Loss
$ (3,544,299)
$ (2,626,457)
$ (9,436,225)
$ (5,851,503)
Add:
Interest Expense
113,287
540,250
338,599
703,903
Loss on disposal of property and equipment
-
-
-
-
Provision for Income taxes
-
-
-
-
Purchase accounting adjustments
-
-
-
-
Stock-based compensation
147,403
334,913
510,674
986,193
Stock issued for services
397,475
259,993
801,319
456,071
Depreciation and amortization
445,703
103,223
1,130,912
262,168
Adjusted EBITDA
$ (2,440,431)
$ (1,388,078)
$ (6,654,721)
$ (3,443,168)
https://c212.net/c/img/favicon.png?sn=SF37142&sd=2019-11-14 View original content:http://www.prnewswire.com/news-releases/eastside-reports-third-quarter-2019-financial-results-300958738.html
SOURCE Eastside Distilling, Inc.
Wonder who he actually represents, the money guys or ???
Eastside Distilling Appoints Lawrence Firestone as Chief Executive Officer
Wed November 13, 2019 8:00 AM
PR Newswire
About: EAST
PORTLAND, Ore., Nov. 13, 2019 /PRNewswire/ -- Eastside Distilling, Inc. (EAST) today announced the appointment of Lawrence Firestone as the Company's new Chief Executive Officer.
Paul Shoen, Chairman of Eastside Distilling, commented, "The Board is pleased to appoint Larry Firestone as its new Chief Executive Officer. Larry brings a 'hands-on' leadership style, with a focus on teamwork, continuous improvement, cost reductions, and process optimization. His success in directing fast growing public companies will serve Eastside well as we continue to execute on our strategic business plan and drive shareholder value."
"I am excited to lead Eastside Distilling as we execute on our current strategic plans to advance our national platform, including the continued expansion of our Redneck Riviera Whiskey and Burnside lineups, and integration of our newly acquired Azuñia Tequila brand," commented Mr. Firestone. "Over the past couple of years, the team at Eastside has created one of the industry's fastest growing, fully integrated spirits platforms. I am confident we can build upon the success the Company has had to date, while developing strategies that can enhance value for shareholders."
Mr. Firestone has over 35 years of enterprise, operations and financial management experience in both public and private companies, with tenures as CEO, CFO and COO across multiple industry sectors. Mr. Firestone most recently served as Executive Vice President and Chief Financial Officer of Akonni Biosystems, a privately-held developer of molecular diagnostic platforms; and as Chairman of FirePower Technology, a privately held manufacturer of ATX power supplies for the IT and instrumentation markets. In the public company sector, Mr. Firestone has served as Chief Executive Officer of Qualstar Corporation, Chief Financial Officer of Advanced Energy Industries, and Chief Financial Officer of Applied Films Corporation. He has served on numerous Boards including those of Qualstar, CVD Equipment, Amtech Systems, and Hyperspace Communications. Mr. Firestone received his Bachelor of Science in Business Administration with a concentration in Accounting from Slippery Rock University of Pennsylvania.
Mr. Firestone joined Eastside's Board in September 2019 and will continue to serve as a director of the Company.
About Eastside Distilling
Eastside Distilling, Inc., founded in 2008, has developed, matured, perfected or acquired, then launched many award-winning spirits, while evolving to meet the growing demand for quality products and services associated with the burgeoning craft and premium beverage trade. The Company's portfolio includes Redneck Riviera Whiskey, a partnership with John Rich, the multi-platinum country-music artist and one-half of the award-winning duo Big & Rich, the Quercus Garryana barrel-finished Burnside Whiskey family, Azuñia Organic Tequilas, Hue-Hue Cold Brewed Coffee Rum, Portland Mule canned cocktails, Outlandish CBD Seltzers and Tonics, and others. The Company is honored to give a percentage of sales proceeds on Redneck Riviera products to Folds of Honor, a charitable foundation that awards scholarships to spouses and children of fallen veterans. In addition to the Company's branded products, the Company has strategically enhanced its capabilities to bring new and trending products to the market, including its Craft Canning + Bottling subsidiary, which is one of the Northwest's leading independent spirit bottlers and ready-to-drink canners. For more information visit: www.eastsidedistilling.com or follow the company on Twitter and Facebook.
Important Cautions Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in obtaining new customers; the Company's success in product development; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue, and profitability. The Company assumes no obligation to update the cautionary information in this release.
https://c212.net/c/img/favicon.png?sn=SF35768&sd=2019-11-13View original content:http://www.prnewswire.com/news-releases/eastside-distilling-appoints-lawrence-firestone-as-chief-executive-officer-300957085.html
SOURCE Eastside Distilling, Inc.
Eastside to Report Third Quarter 2019 Financial Results on Thursday, November 14, 2019
Mon November 11, 2019 9:00 AM
PR Newswire
About: EAST
PORTLAND, Ore., Nov. 11, 2019 /PRNewswire/ -- Eastside Distilling, Inc. (EAST) ("Eastside" or the "Company"), maker of craft spirits, will report its third quarter 2019 financial results after the market close on Thursday, November 14, 2019. The Company will host a conference call that same day, Thursday, November 14, 2019, at 5:00pm ET to review the results.
Third Quarter 2019 Conference Call Details
Date and Time: Thursday, November 14, 2019 at 5:00pm ET
Call-in Information: Interested parties can access the conference call by dialing (844) 889-4332 or (412) 717-9595.
Live Webcast Information: Interested parties can access the conference call via a live Internet webcast, which is available in the Investor Relations section of the Company's website at https://www.eastsidedistilling.com/investors/.
Replay: A teleconference replay of the call will be available for three days at (877) 344-7529 or (412) 317-0088, confirmation #10136838. A webcast replay will be available in the Investor Relations section of the Company's website at https://www.eastsidedistilling.com/investors for 90 days.
About Eastside Distilling
Eastside Distilling, Inc., founded in 2008, has developed, matured, perfected or acquired, then launched many award-winning spirits, while evolving to meet the growing demand for quality products and services associated with the burgeoning craft and premium beverage trade. The Company's portfolio includes Redneck Riviera Whiskey, a partnership with John Rich, the multi-platinum country-music artist and one-half of the award-winning duo Big & Rich, the Quercus Garryana barrel-finished Burnside Whiskey family, Azuñia Organic Tequilas, Hue-Hue Cold Brewed Coffee Rum, Portland Mule canned cocktails, Outlandish CBD Seltzers and Tonics, and others. The Company is honored to give a percentage of sales proceeds on Redneck Riviera products to Folds of Honor, a charitable foundation that awards scholarships to spouses and children of fallen veterans. In addition to the Company's branded products, the Company has strategically enhanced its capabilities to bring new and trending products to the market, including its Craft Canning + Bottling subsidiary, which is one of the Northwest's leading independent spirit bottlers and ready-to-drink canners. For more information visit: www.eastsidedistilling.com or follow the company on Twitter and Facebook.
Important Cautions Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in obtaining new customers; the Company's success in product development; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue, and profitability. The Company assumes no obligation to update the cautionary information in this release.
View original content:http://www.prnewswire.com/news-releases/eastside-to-report-third-quarter-2019-financial-results-on-thursday-november-14-2019-300955261.html
SOURCE Eastside Distilling, Inc.
Bottling CBD for 3rd Parties
We think this has been trading sideways long enough, two back to back reverse splits in 2016, 2017.
http://beveragestartupnews.com/eastside-distilling-east-co-packing-cbd-beverages/
EAST is holding up far better than I ever expected it to...
That is since the new management ran off the original management and RS their shares to kill the original managements investment and give them new control of the company...
Eastside “Outlandish” CBD Beverages to Be Distributed in Oregon by Point Blank
https://www.businesswire.com/news/home/20190607005083/en/
Outlandish Beverages LLC to target CBD beverage market with unique line of mixers and tonics
June 07, 2019 09:00 AM Eastern Daylight Time
PORTLAND, Ore.--(BUSINESS WIRE)--Eastside Distilling, Inc. (NASDAQ: EAST) today announced that Point Blank, a leading distributor of alcoholic and non-alcoholic beverages, has agreed to distribute the Outlandish brand lineup of CBD-based beverages in Oregon. As previously disclosed, the initial Outlandish beverage, a seltzer, has been sampled to potential customers and has received an encouraging initial response. Eastside and Point Blank anticipate having product available to customers in the immediate future.
Point Blank Distributing, with over 80 employees across the state of Oregon, boasts distribution centers in Portland, Eugene and Bend. Formed in 2003 by Aaron Gardner and Scott Willis, Point Blank is one of the state’s leading independent beer, wine and spirits distributors servicing the North and Central Oregon markets, while also offering non-alcoholic beverages. Management at Point Blank prides itself on being on the leading edge of beverage innovation and is always looking for new and original products to supply to its customers.
Robert Manfredonia, President of Eastside, added, “We are excited to partner with our friends at Point Blank to distribute our new CBD-based Outlandish lineup in the state of Oregon. Point Blank is an extremely well qualified and innovative Oregon-based company. We are initially limiting distribution of Outlandish to Oregon, which legalized CBD in 2014, so they are a perfect choice for us to test our marketing ideas and try for a first mover advantage. We are looking forward to using Oregon as a strong test market. As federal regulation evolves, we intend to expand outside Oregon, but in the meantime get a first mover advantage.”
The Outlandish beverages, formulated by Eastside’s award-winning master distiller, Mel Heim, will include CBD and can be used as a “mixer” in uniquely designed drinks (limited only by imagination) or consumed entirely on their own. The Outlandish lineup of ready-to-drink (RTD) cans will initially include three primary products: a seltzer-based, a ginger-based, and a quinine-based tonic. Further line extensions are planned. Outlandish beverages are believed to be the first CBD beverage produced in a 187 ml slim line can. The fanciful Outlandish product branding, created by Sandstrom Partners, reflects Eastside’s continuing collaboration with the industry-leading branding firm.
Outlandish LLC makes no claims to health benefits of CBD. We encourage all our customers to do research of their own. Although the 2018 Farm Bill legalized industrial hemp-based products containing CBD, the US FDA is considering proposed regulation of CBD and other hemp-based products sold in interstate commerce. Outlandish beverages are strictly limited to sale only within the state of Oregon, and are intended to comply with applicable regulations in Oregon, which legalized industrial hemp products in 2014.
About Eastside Distilling
Eastside Distilling, Inc. (NASDAQ: EAST) has been producing high-quality, award-winning craft spirits in Portland, Oregon since 2008. The company is distinguished by its highly decorated product lineup that includes Redneck Riviera Whiskey, Burnside Bourbon, West End American Whiskey, Goose Hollow Reserve, Below Deck Rums, Portland Potato Vodka, Hue-Hue Coffee Rum and a distinctive line of fruit infused spirits. Eastside Distilling is majority owner of Big Bottom Distilling (makers of The Ninety One Gin, Navy Strength Gin and Delta Rye whiskey) and the Redneck Riviera Whiskey Co. All Eastside, Big Bottom and Redneck Riviera spirits are crafted from natural ingredients for quality and taste. Eastside’s Craft Bottling + Canning subsidiary is one of the Northwest’s leading independent spirit bottlers and ready-to-drink canners. The Company also owns Outlandish Beverages LLC, an Oregon LLC for making and selling products that don't have alcohol, but include ingredients such as CBD. For more information visit: www.eastsidedistilling.com or follow the company on Twitter and Facebook.
Important Cautions Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in obtaining new customers; the Company's success in product development; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission (“SEC”), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue, and profitability. The Company assumes no obligation to update the cautionary information in this release.
Certain matters discussed in this press release may be forward-looking statements, including those related to: plans for distributing, and the success of, the Outlandish products; adding additional product lines and product launches; actions or positions of the FDA; the regulatory environment for CBD; consumer acceptance of CBD; and the potential for the Company‘s products. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: Actions or positions the FDA or other regulators may take in conflict with our product launch and plans; unanticipated enforcement action; lack of acceptance of the Company's products by consumers; failure of the CBD market to grow; changes in regulations; lack of regulatory approval of CBD on a nationwide basis; the Company's success in product development; the Company's ability to execute its plans; and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission (“SEC”).
Contacts
Company Contact:
Eastside Distilling
Steve Shum
971-888-4264
inquiries@eastsidedistilling.com
Investors:
Robert Blum
Lytham Partners, LLC
602-889-9700
east@lythampartners.com
Corporate presentation.
In case anyone cares. This has gotten very cheap.
https://static1.squarespace.com/static/56ce21152fe1314d29719fb4/t/5c8fc745fa0d6008d579aba2/1552926546247/EAST+Q318+Presentation+-+March+2019+-+FINAL.pdf
Fox & Friends video.
John Rich remembers birthday exchange with Bush 41
Country music star shares a story about a special song he shared with former President George H.W. Bush on his birthday and discusses his Redneck Riviera whiskey on ‘Fox & Friends.’
Video here: http://beveragestartupnews.com/eastside-distillings-esdi-6-15-redneck-riviera-whiskey-on-fox-friends/
John Rich on Fox & Friends.
This morning with a Redneck Riviera gift.
https://www.eastsidedistilling.com/redneck-riviera/
Looking cheap.
Cheaper that is, here @ $6.20
The 6.4 O/S will most certainly grow and the PPS will creep downwards. That's why I am waiting before opening a position.
will be interesting to see if the number holds as the move forward
Gross margin ... 49 ... %
https://www.sec.gov/Archives/edgar/data/1534708/000149315218011440/form10q.htm
EAST has a good gross profit.
We may offer and sell up to $20,000,000 in the aggregate of the securities identified above
https://www.sec.gov/Archives/edgar/data/1534708/000149315218012238/forms-3.htm
Call was normal,B+, Management is seeing the light.
Expect more growth, but they will need a considerable amount of funding
as they move to the next level
Company should focus on higher margin ...
The added in private label is nice, but not nearly as important.
Just my comment.
Single malt will rule in a year or two...
10Q review. It's a very interesting Q.
They are spending advertising money like crazy to generate sales. "Advertising, promotional and selling expenses during Q2 2018 increased slightly as a percent of sales to 63.7% of sales compared to 62.2% during Q2 2017 ..."
They are calling on Warrants to be exercised to raise more than $5 million dollars.
""The Common Stock Purchase Warrants are currently exercisable for an aggregate of 1,509,162 shares of common stock.
""Since the end of the second quarter, the company has received exercises totaling 984,087 shares or $5,314,069, with the majority of those occurring since the call was announced on August 3.""
They are adding to aged inventory at a very rapid pace.
" The company ended the quarter with $2.4 million in cash and inventories of $7.9 million (at cost) consisting primarily of barrels of light whiskey, bourbon whiskey and rye whiskey stored in third party warehouses. The inventory balance reflects an increase of $2.6 million compared to three months ago as the company continued to purchase multi-year supplies of bulk spirits ... "
Gross Margins are 49.9% which is very good.
They are happy to be gaining distribution into more states but don't be fooled. Case sales were 18,401. Divided by 28 states where they are distributed now = 657 cases per state.
While they are obviously selling more cases in their original core distribution area, that means that in most of those 28 states, they've sold nearly no cases. They have a distributor who CAN sell the product in those states.
I foresee more capital raises and dilution in the near and foreseeable future.
That said, it's interesting to see some of these institutions getting involved pushing the percentage of ownership up.
There are no requirements for institutions to purchase shares based on any indexes.
Eastside has some believers. Not me yet, but they are definitely worth following.
Owner Name … Date … Shares Held … Change (Shares) … Change (%) … Value (in 1000s)
BLACKROCK INC. … 2018-06-30 … 10916 … 10916 … New … 86
ORCA INVESTMENT MANAGEMENT LLC … 2018-06-30 … 212734 … 0 … 0 … 1681
SKYLANDS CAPITAL LLC … 2018-06-30 … 72224 … 2479 … 3.55 … 571
ROYCE & ASSOCIATES LP … 2018-06-30 … 16925 … 16925 … New … 134
CORNERSTONE WEALTH MANAGEMENT LLC … 2018-06-30 … 3613 … 3613 … New … 29
WELLS FARGO & COMPANY/MN … 2018-06-30 … 1000 … 0 … 0 … 8
UBS GROUP AG … 2018-03-31 … 1250 … 1250 … New … 10
MANATUCK HILL PARTNERS LLC … 2018-03-31 … 120000 … 0 … 0 … 948
VANGUARD GROUP INC … 2018-03-31 … 21365 … 21365 … New … 169
CRUISER CAPITAL ADVISORS LLC … 2018-03-31 … 12963 … 0 … 0 … 102
MORGAN STANLEY … 2018-03-31 … 2000 … 2000 … New … 16
Institutional Ownership … 9.09% …
…
…
…
Eastside Reports Second Quarter 2018 Financial Results
Mon August 13, 2018 8:00 AM
EPS of $-0.37 misses by $-0.54 Revenue of $1.68M (+ 90.9% Y/Y) beats by $0.24M
Gross Sales increase 90% driven by strong Redneck Riviera shipments
PORTLAND, Ore.--(BUSINESS WIRE)-- Eastside Distilling, Inc. (EAST), a producer of craft spirits, reported second quarter 2018 financial results.
Financial Highlights for Q2 2018 ended June 30, 2018:
Gross sales for Q2 2018 were $1,675,067, an increase of 90% compared to $883,522 in the Q2 2017, led by the continued launch of Redneck Riviera Whiskey, sales from our private label and wine canning operations, as well as resumption of growth within the Pacific Northwest of our rebranded Burnside lineup.
Total shipments increased to 18,401 cases during Q2 2018 from 4,928 cases in Q2 2017, an increase of 273%.
Branded product shipments increased 70% to 7,445 cases in Q2 2018 compared to 4,384 in the year ago quarter.
Case shipments of Redneck Riviera Whiskey were approximately the same in Q2 2018 compared to the very strong Q1 initial launch shipments and we have already received orders in excess of this figure in the first 5 weeks of Q3 2018, reflecting an acceleration beginning to occur as a result of new states and strong reorders from many of the Q1-Q2 2018 initial launch states.
Gross margins improved to 49.9% during Q2 2018 compared to 34.8% during Q2 2017.
EBITDA during Q2 2018 was $(1,250,729), which compared to $(771,402) in Q2 2017 as the company continued to invest in laying the foundation for sustainable growth in the Redneck Riviera Whiskey brand.
Recent Operational Highlights:
Redneck Riviera Whiskey is now distributed in 28 states, with 14 states added since the end of he first quarter. Redneck Riviera Whiskey is now available in Texas, California, Louisiana, Alabama, Georgia, Mississippi, Florida, North Carolina, South Carolina, North Dakota, South Dakota, Oregon, Tennessee, Oklahoma, Nebraska, Kentucky, Missouri, Washington, Iowa, Minnesota, Wisconsin, Alaska, Illinois, Michigan, Kansas, Colorado, Nevada and Arizona.
The company continues to add new distribution partners across the U.S., with Redneck Riviera Whiskey now distributed by Republic National Distributing Company (RNDC), Southern Glazer’s Wine & Spirits, Breakthru Beverage Group, Lipman Brothers, West Tennessee Crown Distributing Co., Lohr Distributing Company, Johnson Brothers Liquor Company, and Worldwide Beverage Group.
An impressive line up of retailers now carry Redneck Riviera Whiskey, including Walmart, ABC Fine Wine & Spirits (Florida), Rouses (Louisiana), Spec’s (Texas), Total Wine & More, Albertsons, and Safeway.
Gretchen Wilson, Granger Smith and Colt Ford joined the Redneck Riviera Whiskey team as Brand Ambassadors, adding to the strong promotional support from John Rich.
Eastside introduced its first American Single Malt Whiskey in limited release which saw immediate success with two very prestigious craft spirits industry awards, a Gold Medal from the 2018 Francisco World Spirits Competition and Best of Category (with 93 points) from the 2018 Los Angeles International Spirits Competition.
The company won 21 medals at the 2018 Los Angeles World Spirits Competition, of these 21 medals, 14 were won by Eastside directly and 7 in the Big Bottom Distilling division, while at the San Francisco World Spirits Competition, Eastside won an impressive 14 medals, with 5 of those won by its Big Bottom Distilling division.
The company completed its first full quarter of wine canning operations.
Management Commentary
Grover Wickersham, Chairman and CEO of Eastside Distilling, commented, “I am pleased with the second quarter results and excited by the opportunities in our immediate future. The quarter was highlighted by the expanding footprint of Redneck Riviera Whiskey, growth of our wine canning operations, and the continuing relaunch of our Burnside family of whiskeys. During Q2 and extending to Q3 we invested heavily in laying the foundation for sustainable growth in the Redneck Riviera Whiskey brand, and this is reflected in our EBITDA. Brand investment included hiring a sales team capable of creating a national brand, promotional budgets for supporting distributors as we opened up new states, spending on point of sale and sales promotions as key retailers began carrying product on their shelves, ramping production, and supporting the brand with marketing. These activities carry a major upfront cost, but we believe they will maximize the performance of the brand.
“Redneck Riviera Whiskey is off to a strong start and is accelerating, with shipments during Q3 2018 being particularly encouraging. We are constantly told that the rapid and accelerating adoption of the brand is highly unusual in the industry. This is a testament to the value of our partnership with John Richand the capabilities of the entire Eastside team. We are excited by the prospects of having strong second half of the year,” concluded Wickersham.
Financial Results
For the quarter ended June 30, 2018, Eastside Distilling reported record gross sales of $1,675,067, an increase of 90% compared to $883,522 in the second quarter of 2017. The increase in sales is primarily attributable to: the newly launched Redneck Riviera Whiskey product, increased wholesale sales traction within the Pacific Northwest due to the rebranding of our Burnside family of products, strong continuing vodka sales, our acquisitions of MotherLode and BBD and related expansion of our private label business and canning abilities, offset by a reduction in retail due to store relocations.
Total shipments increased to 18,401 cases during Q2 2018 (7,445 for branded products and 10,957 for private label which now includes wine canning) from 4,928 cases in Q2 2017 (4,384 for branded products and 544 for private label which excludes any wine canning), an increase of 273% overall and 70% in branded products.
Gross profit margins (as a percent of Net Sales) were 49.9% during Q2 2018 compared to 34.8% during Q2 2017 and approximately 37% overall in fiscal 2017. The improvement in gross profit margins is primarily due to the combination of our new products which have higher margins than prior legacy products as well as the new, lower federal excise tax. While our goal is to ultimately improve our overall gross margin, it may fluctuate around the current level due to the impact of two key factors: product sales mix and the related customer programs and incentives, both of which are subject to seasonal fluctuations and the competitive environment.
Advertising, promotional and selling expenses during Q2 2018 increased slightly as a percent of sales to 63.7% of sales compared to 62.2% during Q2 2017 primarily due to our efforts to expand our product sales both regionally in the Pacific Northwest as well as target national markets, particularly with the new RRW product launch. General and administrative expenses decreased slightly as a percent of sales, but up on a dollar basis primarily due to increased headcount to support the Redneck Riviera and wine canning launches, as well as higher stock-based compensation.
EBITDA during Q2 2018 was $(1,250,729), which compared to $(771,402) in Q2 2017.
Net loss attributable to common shareholders was $(1,906,625), or $(0.37) per basic and diluted share for Q2 2018, compared $(1,287,651), or $(0.40) per basic and diluted share in the year ago period.
The company ended the quarter with $2.4 million in cash and inventories of $7.9 million (at cost) consisting primarily of barrels of light whiskey, bourbon whiskey and rye whiskey stored in third party warehouses. The inventory balance reflects an increase of $2.6 million compared to three months ago as the company continued to purchase multi-year supplies of bulk spirits in advance of anticipated demand for Redneck Riviera Whiskey and our other products. Supplies of aged spirits remain tight and can command significant premiums from vendors and on the secondary market, as well as suffering from a lack of availability. Bulk spirit prices have in recent history increased at double digit rates. By adding strategically to inventories of younger spirits and buying newly filled barrels, the company seeks to reduce the cost of goods sold (“COGs”) of Redneck Riviera Whiskey, Burnside Bourbon and its other whiskey-based products.
On August 3, 2018, the Company called for redemption of the warrants to purchase shares of common stock, that were sold in its public unit offering in August 2017 and the warrants sold in the note offering between March and June 2018 (collectively, the "Common Stock Purchase Warrants"). The Common Stock Purchase Warrants are currently exercisable for an aggregate of 1,509,162 shares of common stock. If all such currently outstanding warrants are exercised within the call exercise period, then the Company will issue an aggregate of 1,509,162 shares of common stock at $5.40 per share and receive gross exercise proceeds of approximately $8,149,475. On the other hand, if all such Common Stock Purchase Warrants are redeemed by Eastside Distilling, Inc. pursuant to the notice of redemption, then the Company will pay to the registered holders of such Common Stock Purchase Warrants an aggregate of approximately $226,374. Since the end of the second quarter, the company has received exercises totaling 984,087 shares or $5,314,069, with the majority of those occurring since the call was announced on August 3.
Conference Call
The Company will hold a conference call today to discuss these results.
Date and Time: 11:30 am ET (8:30 am PT) on Monday, August 13, 2018
Call-in Information: Interested parties can access the conference call by dialing (844) 889-4332 or (412) 717-9595.
Live Webcast Information: Interested parties can access the conference call via a live Internet webcast, which is available in the Investor Relations section of the Company's website at https://www.eastsidedistilling.com/investors/.
To Ask a Question: The conference call will be moderated by Lytham Partners, an investor relations firm. There will be three options to ask a question during the call:
Questions can be asked live during the call-in portion of the conference call.
The live webcast will feature an option to submit questions in writing during the event.
If you are unable to attend the event, you can submit a question in advance to EAST@lythampartners.com.
Replay: A teleconference replay of the call will be available for three days at (877) 344-7529 or (412) 317-0088, confirmation # 10123140. A webcast replay will be available in the Investor Relations section of the Company's website at https://www.eastsidedistilling.com/investors for 90 days.
About Eastside Distilling
Eastside Distilling, Inc. has been producing high-quality, award-winning craft spirits in Portland, Oregon since 2008. The company is distinguished by its highly decorated product lineup that includes Burnside Bourbon, West End American Whiskey, Goose Hollow Reserve, Below Deck Rums, Portland Potato Vodka, Hue-Hue Coffee Rum and a distinctive line of fruit infused spirits. Eastside Distilling is majority owner of Big Bottom Distilling (makers of The Ninety One Gin, Navy Strength Gin and Delta Rye whiskey) and the Redneck Riviera Whiskey Co. All Eastside and Big Bottom spirits are crafted from natural ingredients for quality and taste. Eastside’s MotherLode Bottling subsidiary is one of the Northwest’s leading independent spirit bottlers and ready-to-drink canners. For more information visit: www.eastsidedistilling.comor follow the company on Twitter and Facebook.
Important Cautions Regarding Forward-Looking Statements
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in obtaining new customers; the Company's success in product development; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue, and profitability. The Company assumes no obligation to update the cautionary information in this release.
Use of Non-GAAP Measures
Eastside Distilling's management evaluates and makes operating decisions using various financial metrics. In addition to the Company's GAAP results, management also considers the non-GAAP measure of adjusted EBITDA. Management believes this non-GAAP measure provides useful information about the Company's operating results.
The Company defines adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, stock based compensation and gain on spin-off. The table below provides a reconciliation of this non-GAAP financial measure with the most directly comparable GAAP financial measure.
Q2 2018 Financial Summary Tables
The following financial information should be read in conjunction with the audited financial statements and accompanying notes filed by the Company with the Securities and Exchange Commission on August 13, 2018 on Form 10-Q for the period ended June 30, 2018, and which can be viewed at www.sec.gov and in the investor relations section of the company’s website at www.eastsidedistilling.com.
Read the financials here:
https://www.sec.gov/Archives/edgar/data/1534708/000149315218011440/form10q.htm
Eastside Distilling's Capital Raise - Is This A Nanocap To Watch?
Jul. 28, 2017 3:45 PM ET
I wonder how the offering went.
Summary
Eastside Distilling plans a secondary offering to net $6.3 million by selling 1.2 million shares set for August 4, 2017.
Shares are set to be offered between $6 and $6.25 per share.
Secondaries usually don't get my attention. This one does.
For less than the price of a college course, an investment in Eastside likely will provide investors a great financial education.
To be sure, risks abound for this nanotech. I'll spell the biggest ones out here.
Eastside Distilling (ESDI) plans a $6.3 million secondary offering (currently traded on the OTC market) and enter the NASDAQ on August 4, 2017. Shares should be offered in the $6 - $6.25 range. This offering is managed by Roth Capital and Motif Investing is one of the platforms on which investors can participate.
My thesis is simple here. Though there may be better small cap, mid cap and large cap equity investments, based
ESDI - Arizona Becomes 28th State in Which Redneck Riviera Whiskey is Available
Thu August 9, 2018 9:01 AM
PORTLAND, Ore.--(BUSINESS WIRE)-- Eastside Distilling, Inc. (EAST), maker of craft spirits, today announced that Arizona will be the 28th state in which Redneck Riviera Whiskey will be distributed. Breakthru Beverage Group, a leading distributor of premier wine and spirits and beer brands, will work to establish the brand in the state. Redneck Riviera Whiskey is a joint collaboration between Eastside and John Rich, the multi-platinum country-music artist and one-half of the award-winning duo Big & Rich.
Jarrett Catalani, Senior Vice President of Sales for Eastside Distilling, said, “With Arizona in the fold, we now have a very strong distribution profile in the western U.S., including California, Colorado, Nevada, Oregon, Washington and Alaska. We believe the success we’ve achieved to develop distribution in the initial 28 states will serve us well as we work to get the other half of the country into the distribution channel. We’re pleased with the progress to this point.”
Launched in February 2018, Redneck Riviera Whiskey is now distributed in Texas, California, Louisiana, Alabama, Georgia, Mississippi, Florida, North Carolina, South Carolina, North Dakota, South Dakota, Oregon, Tennessee, Oklahoma, Nebraska, Kentucky, Missouri, Washington, Iowa, Minnesota, Wisconsin, Alaska, Illinois, Michigan, Kansas, Colorado, Nevada and Arizona.
About Breakthru Beverage Group
Breakthru Beverage Group is a leading North American beverage wholesaler driving innovation in the marketplace with a nimble and insightful approach to business. Breakthru is proud to be family-owned and operated, bringing valued expertise to its operations across the U.S. and Canada. The company employs more than 7,000 associates representing a portfolio of premier wine, spirit and beer brands totaling more than $6 billion in annual sales.
About Redneck Riviera
Redneck Riviera is a privately held lifestyle brand that celebrates America’s hard-working men and women. Built for people who live to turn up the music and have fun with friends and family, Redneck Riviera is America’s ‘Work Hard, Play Hard’ brand that offers something for everyone who likes to rock the red, white and blue all year long. Launched in 2014, the brand brings these values to life through footwear, apparel, hospitality, food, spirits and licensed products in a variety of categories. Redneck Riviera has expanded its reach with the opening of honky-tonk bar Redneck Riviera Las Vegas and a Nashville location opening in 2018. More information can be found here.
About Eastside Distilling
Eastside Distilling, Inc. has been producing high-quality, award-winning craft spirits in Portland, Oregon since 2008. The company is distinguished by its highly decorated product lineup that includes Burnside Bourbon, West End American Whiskey, Goose Hollow Reserve, Below Deck Rums, Portland Potato Vodka, Hue-Hue Coffee Rum and a distinctive line of fruit infused spirits. Eastside Distilling is majority owner of Big Bottom Distilling (makers of The Ninety One Gin, Navy Strength Gin and Delta Rye whiskey) and the Redneck Riviera Whiskey Co. All Eastside, Big Bottom and Redneck Riviera spirits are crafted from natural ingredients for quality and taste. Eastside’s MotherLode Bottling subsidiary is one of the Northwest’s leading independent spirit bottlers and ready-to-drink canners. For more information visit: www.eastsidedistilling.com or follow the company on Twitter and Facebook.
Eastside Distilling : Redneck Riviera Whiskey Adds Illinois - Now Distributed in 23 States
http://www.4-traders.com/EASTSIDE-DISTILLING-INC-37488536/news/Eastside-Distilling-Redneck-Riviera-Whiskey-Adds-Illinois-Now-Distributed-in-23-States-26919606/
Here's what we're drinking this week.
https://mailchi.mp/eastsidedistilling/what-we-are-drinking
eastsidedistilling
https://www.instagram.com/p/BklcXVbBLlE/?taken-by=eastsidedistilling
Ok, so this is actually the only thing we want to drink! This spritz made with Hue-Hue Coffee Rum, maple syrup, and an egg white has all the breakfast essentials crammed into one tasty beverage. That’s why this drink truly earns the name “Breakfast Of Champions”. •
Introducing the “BOC” cocktail
•
- 2 oz Hue-Hue Coffee Rum |
- 3/4 oz Averna |
- 1/2 oz maple syrup |
- 1 egg white |
- 2 oz sparkling water |
Add Hue-Hue, maple syrup, Averna, and egg white to a shaker. Shake without ice for 10-15 seconds. Add ice and shake again for 10-15 seconds. Add 2 oz sparkling water to a Collins glass filled with ice. Strain shaker into glass over ice. Enjoy!
eastsidedistillingWe think we look pretty good in gold. ??Our @laspiritscomp medals came in the mail and we couldn’t wait to show off the new bling! Let’s give a big round of applause to the hard work our master distillers Mel Heim and Travis Schoney have put into making so many gold winning spirits!
https://www.instagram.com/p/BkObfHWBB3J/?taken-by=eastsidedistilling
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Eastside Distilling, Inc. (NASDAQ: EAST) has been producing high-quality, award-winning craft spirits in Portland, Oregon, since 2008. The Company is distinguished by its highly decorated product lineup that includes Azuñia Tequilas, Burnside Whiskeys, Hue-Hue Coffee Rum, and Portland Potato Vodkas. All Eastside spirits are crafted from natural ingredients for quality and taste. Eastside's Craft Canning + Bottling subsidiary is one of the Northwest's leading independent ready-to-drink canners.
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