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Current Status
We began distribution of our product in the first calendar quarter of 2013, distributing 21 pallets. Currently we have two flavors of one product and will distribute in California to convenience stores, gas stations, grocery stores and gyms. We currently work with a beverage manufacturer in Florida and several companies for packaging materials. Our initial purchase required payment upfront. Thereafter we will get net 30 day payment terms. We will ship product to two distributors with net 30 day terms.
During the third calendar quarter of 2014 the company retained Allen Flavors to create two new additional flavors to be launched during the first calendar quarter of 2015. The Company will also use a newly developed look for their bottling and labeling as part of the new launch. In addition to a new product launch, the Company launched its first sweepstakes contest to be held from December 15, 2014 through January 31, 2015 to help market the new product launch.
We have also entered into contracts with several professional sports personalities (Jonathan Quick, Aldon Smith, Haloti Nagata, Taj Gibson, Matt Moulson, Brian Braham, Kenneth Draun, and Andrew Depaula) to represent us by endorsing our products. All contracts cover three years and require us to issue an aggregate of 8,220,000 restricted shares of common stock over the lives of the contracts plus up to an additional 1,652,500 contingent shares based on performance criteria. During the three and six months r ended January 31, 2015, we have recorded an aggregate Marketing Expense of $2,701 and $4,640, respectively, relating to the shares that are issuable.
Three months ended January 31, 2015
The company had no sales during the quarter ended October 31, 2014. Shipments were insignificant during the quarter ending October 31, 2013 and generated sales of $373.
The company did not incur any cost of goods sold due to no saleable products being made during the quarter ended October 31, 2014. This was due to the Company’s focus on redeveloping and redesigning the products for a new launch in the first calendar quarter of 2015. Cost of goods sold during the three months ended October 31, 2013 were $1,392, which exceeded of sales by $1,019, resulting in a gross profit $(1,019). This was due to the high cost of the initial product runs due to start up tooling costs and a lack of economies of scale in the manufacturing process.
General and administrative expenses increased by $45,375, from $77,610 during the three months ended October 31, 2013 to $147,144 during the three months ended October 31, 2014. The increase was due to higher professional fees for legal and accounting services.
Marketing expense increased by $45,375, from $10,846 during the three months ended October 31, 2013 to $56,221 during the three months ended October 31, 2014. The increase was due to increased marketing costs.
Compensation decreased by $655,773, from $983,292 during the three months ended October 31, 2013 to $327,520 during the three months ended October 31, 2014. The decrease was primarily due to a reduction in share based compensation expense, from $676,292 in connection with professional athlete endorsement contracts recognized in the quarter ended October 31, 2013, compared to $28,093 connection with these endorsement contracts during the quarter ended October 31, 2014.
Other income (expense) increased ($229,660) from ($1,107,335) during the three months ended October 31, 2013 compared to ($1,336,995) during the three months ended October 31, 2014. The increase is due to a decrease in interest expense of $33,585 and the derivatives expense and change in derivative liability of $263,243.
Net loss for the three months ended October 31, 2014 decreased by $312,223, from ($2,180,102) during the three months ended October 31, 2013 to ($1,867,879), primarily due to share based compensation expense.
Three months ended January 31, 2014
The company began shipping products to distributors in February 2013. Shipments were insignificant during the quarter ending October 31, 2013 and generated sales of $373. There were no sales in the quarter ending October 31, 2012.
Cost of goods sold during the three months ended October 31, 2013 were $1,392, which exceeded of sales by $1,019, resulting in a gross profit $(1,019). This was due to the high cost of the initial product runs due to start up tooling costs and a lack of economies of scale in the manufacturing process.
General and administrative expenses increased by $24,226, from $53,820 during the three months ended October 31, 2012 to $77,606 during the three months ended October 31, 2013. The increase was due to higher professional fees for legal and accounting services.
Done with penny stocks, not for me!
You too. Looking forward to next week. Taking the weekend off from stocks and going to enjoy the beautiful weather here in Northern California.
New tweet?
Flying first class or business class anywhere in the world? Want to pay in bitcoin? We can arrange.
— Bitcoin For (@bitcoinformiles) March 13, 2015
I 100% agree with you. Bashing doesn't help get your money back. Rightfully people are pissed. I sold and am looking for my next stock.
Yes that kind of speculation is fun. I hate the other kind
I'm interested and in. Let's see what this can do
I'm sorry for posting about HJOE. Still just learning. The dump fest at the end of day was like nothing I saw before. Today kind of scares me from playing in the OTC.
Luckily I got out at .0004, .0003, and .0002.
And I thought I was going to make money hahahaha
I will take a look. Bummed about HJOE
Should be stickied
$HJOE NEWS!!! Korea Japan China
http://finance.yahoo.com/news/hjoe-usa-leading-hangover-recovery-111500181.html
$HJOE NEWS!!! Korea Japan China
http://finance.yahoo.com/news/hjoe-usa-leading-hangover-recovery-111500181.html
Sorry ran out of post. I know what you mean. And yes I think they are done for now, so the ask should get slapped tomorrow and up we go!
I'm not sure what you mean? I'm seeing strong all the way to closing bell. If that what's your talking about.
$HJOE interesting week there. They diluted pretty big this week, but came out on Facebook and was upfront about it.
Today they came out strong against bashers, including 1 specific name here on ihub and are threatening legal action.
Today the dilution slowed down, and buys were huge at .0004 and .0005.
As far as I know not many shares are owned under that.
The end of the day there were mass buys at .0004 right up to the close.
On Twitter they said news is coming tomorrow.
I know action speaks louder than words, but this may do something big tomorrow.
I think they will let this run tomorrow with no dilution like it did last week. They do not want to give bashers more ammo, especially with their "big Asia news"
This all just my opinion. I am still learning and I am getting to know the OTC a little.
News tomorrow for $HJOE those who have lied for a year or better, you Lie you Fry #ihubliars. #bashersbeating soon legal will react #serious
— GitRDoneEnergy (@GitRDoneEnergy) March 10, 2015
I believe they will let this run unhindered tomorrow.
$HJOE interesting week there. They diluted pretty big this week, but came out on Facebook and was upfront about it.
Today they came out strong against bashers, including 1 specific name here on ihub and are threatening legal action.
Today the dilution slowed down, and buys were huge at .0004 and .0005.
As far as I know not many shares are owned under that.
The end of the day there were mass buys at .0004 right up to the close.
On Twitter they said news is coming tomorrow.
I know action speaks louder than words, but this may do something big tomorrow.
I think they will let this run tomorrow with no dilution like it did last week. They do not want to give bashers more ammo, especially with their "big Asia news"
This all just my opinion. I am still learning and I am getting to know the OTC a little.
News tomorrow for $HJOE those who have lied for a year or better, you Lie you Fry #ihubliars. #bashersbeating soon legal will react #serious
— GitRDoneEnergy (@GitRDoneEnergy) March 10, 2015
Well news tomorrow. I hope you didn't sell yet. We need to stay positive. If you want to be negative will talk about the gov't all day haha.
GLTY
HJOE
With all accumulation at .0004 and many own above that, I guess a lot are going to loose all their money by what you are saying.
And the volume continues high with a lot of hits on the ask
There is something going on. Without definite answers and all the dilution, bashers can have fun. Who knows news may be bigger than we think, but until it's released everyone will doubt that because of their history. I think bashing should stop until after this news release. If it's puff, then bash away. Personally bashing annoys me, even if their right. How does bashing make money?
Meanwhile, the stock is up.
Let's hope they're serious. If not they don't have much time left. I would hope tomorrow no dilution. When they make a statement like that and mass dilute people loose faith.
$HJOE not a good day, but the cheepies may be worth it. New tweets, let's see if they follow through
We are waiting on a translation from Asia and once we have will move for official PR release on multi countries in Asia that will launch!
— GitRDoneEnergy (@GitRDoneEnergy) March 10, 2015
There will be news at some point, don't listen to those who lie about the company. We have a plan and if goes well we will buy back shares!
— GitRDoneEnergy (@GitRDoneEnergy) March 10, 2015
Another from Twitter, interesting
There will be news at some point, don't listen to those who lie about the company. We have a plan and if goes well we will buy back shares!
— GitRDoneEnergy (@GitRDoneEnergy) March 10, 2015
From Twitter
We are waiting on a translation from Asia and once we have will move for official PR release on multi countries in Asia that will launch!
— GitRDoneEnergy (@GitRDoneEnergy) March 10, 2015
Well I was referring to Friday's facebook post where he specifically said news would be released some time this week. I don't take that as a Facebook post, I take it as official PR. If he doesn't release news he lied. If that ends up being the case I'll just move on.
News will come. Don't think anyone considers Facebook post news. Money will be made at this level.
Agree. Dilution. I hope they are using it wisely. This could run big.
What the heck, I added. If I believe what I said I'm putting my money where my mouth is.
Easy money if you buy at these levels. If you bought higher like myself, time will tell. Not happy it dropped, but I guess you can call it a double bottom, we will see where we bounces to.
$HJOE
That's not what I wanted to see. Oh well. It is what it is.
If we hold here, it is set up for a nice pop on news day. Would like to see higher, but happy here.
Nice to see this. Looking good
Okay thanks
Curious what Asians think of Larry The Cable Guy. It's all about marketing.