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Well for one thing they signed a distributor who sells to 1,200 stores. Since that's about 8/10ths. of 1 % of all the c stores in the U.S. I'd say not too bad for a small show.
GitRDoneEnergy
Nov 17 at 11:01am ·
Another decent showing at the Tampa trade show yesterday we picked up a distributor with 1,200 stores for 2015! This is how we Git R Done for HJOE! Mr. Veal was on hand to check out all the action yesterday and lend his support to the team effort.
As I'm sure you're well aware of the fact HJOE had no product to sell (OK very minimal product) during the 1st. 6 months of the year. The revenues are all from the 3rd. quarter and at that come entirely from the "soft launch".
"For the quarter ended September 30, 2014 the Company reported approximately $50,000 in net sales under generally accepted accounting principles and an additional $35,000 in deferred revenue on product shipments that occurred late in the quarter that we have not yet received payment for bringing total sales to right at $85,000."
HJOE did counter sue and had the case moved to federal court and are seeking damages under RICO.
Private Label Nutraceuticals, LLC v. Hangover Joe's Holding Corporation et al
Defendant: Hangover Joe's Holding Corporation and Hangover Joe's, Inc.
Plaintiff: Private Label Nutraceuticals, LLC
Thirdparty_defendant: Kevin Harden and Bjarte Rene
Thirdparty_plaintiff: Hangover Joe's Holding Corporation and Hangover Joe's, Inc.
Counter_claimant: Hangover Joe's Holding Corporation and Hangover Joe's, Inc.
Counter_defendant: Private Label Nutraceuticals, LLC
Case Number: 1:2014cv00683
Filed: March 7, 2014
Court: Georgia Northern District Court
Office: Atlanta Office
County: Gwinnett
Presiding Judge: Orinda D. Evans
Nature of Suit: Other Contract
Cause of Action: 28:1441
Jury Demanded By: Plaintiff
Access additional case information on PACER
$100,000 USD cash as a success fee upon the securing of a minimum of $2,500,000 in EB-5 funding provided by WCCC/GG.
Guess you're in for a surprise then.
This is how they recognize revenue. And during the soft launch they did a number of "free fills" where they supplied product simply for test marketing/to collect sell through data
Revenue Recognition
The Company sells its product primarily through third-party distributors. The Company is not guaranteed any minimum level of sales or transactions. The Company also offers its products for sale through its website at www.hangoverjoes.com. All sales in the first two quarters of 2014 were through the website, after which the Company was able to resume its traditional model of selling its product to distributors and chains.
The Company recognizes revenue when all of the following have occurred: (1) persuasive evidence of an arrangement exists; (2) delivery to third party distributors and consumers via the Company’s website has occurred; (3) the sales price is fixed or determinable; and (4) collectability is reasonably assured. Delivery is not considered to have occurred until the title and the risk of loss passes to the customer according to the terms of the contract between the Company and the customer. For sales to distributors, revenue is usually recognized at the time of delivery. The Company defers revenues on products sold to distributors for which there is a lack of credit history or if the distribution may be in a new market in which the Company has no prior experience. The Company defers revenue in these situations until cash is received. For sales through the Company’s website, revenue is recognized at time of shipment.
Yes a slip on my part, calendar days is correct. But it's all HJOE's fault. The soft launch, all the distributors their signing up, all the stores their in. The branding by LTCG etc. I even blame the money I'll make on them. After all it all their fault LOL.
DID you see this reply?
"Our 10Q is coming not our delay but the auditors as usual. It will be out soon everyone."
The NT 10-q they filed gave them 5 business days to file it. But you already know that EOM.
GitRDoneEnergy
2 minutes ago ·
We have learned this week our company is being consider in some very large store planograms for 2015! We are going to Git-R-Done for HJOE in 2015! When we have final updates, we will let everyone know. Git-R-Done-Energy is Fuel for Working Folks.
Posted on twitter last night.
Good day in Tampa at trade show for team HJOE picked up distributor with 1,200 stores for 2015! Going GitRDone 2015! pic.twitter.com/1AVbEHO9eH
You're right energy drinks and shots are NOT a fad, their here to stay. Thanks for pointing that out.
It's explained in the Q2 filing.
Revenue Recognition
The Company sells its product primarily through third-party distributors. The Company is not guaranteed any minimum level of sales or transactions. The Company also offers its products for sale through its website at www.hangoverjoes.com . All sales in the quarter and year to date of 2014 were through the website.
The Company recognizes revenue when all of the following have occurred: (1) persuasive evidence of an arrangement exists; (2) delivery to third party distributors and consumers via the Company's website has occurred; (3) the sales price is fixed or determinable; and (4) collectability is reasonably assured. Delivery is not considered to have occurred until the title and the risk of loss passes to the customer according to the terms of the contract between the Company and the customer. For sales to distributors, revenue is usually recognized at the time of delivery. The Company defers revenues on products sold to distributors for which there is a lack of credit history or if the distribution may be in a new market in which the Company has no prior experience. The Company defers revenue in these situations until cash is received. For sales through the Company's website, revenue is recognized at time of shipment.
Management evaluates the terms of its sales in consideration of the criteria outlined in Principal Agent Consideration with regards to its determination of gross versus net reporting of revenue for transactions with customers. The Company sells, through its website, Hangover Joe's Recovery Shots. In these transactions, management has determined that the Company (i) acts as principal; (ii) has the risks and rewards of ownership, including the risk of loss for collection, delivery or returns; and (iii) has latitude in establishing price with the customer. For these transactions, the Company recognizes revenue on a gross basis.
Just curious most of the shipments mentioned were ordered by and shipped to distributors. Would these distributors provide the company a list of which c stores they placed product in and when?
"Another pallet shipping today to our new Houston Distributor with the counter display racks and store window clings. This is another reorder! "
The merger closed in March 2012 and these directors were appointed then.
of the “to be” appointed members of the Company’s Board of Directors upon closing of a definitive agreement with HOJ. There are no family relationships among any of the directors and executive officers of the Company. There was no agreement or understanding between Company and any director or executive officer pursuant to which he was selected as an officer or director.
Name
Position
Age
Year Appointed as Officer or Director
Michael Jaynes
Director and President of AMHC
53
2012*
Michael Malm
Director of AMHC
49
2012*
J.W. Roth
Director of AMHC
48 2010
*Will be appointed only upon the closing of a definitive agreement with HOJ.
Independence of the Board of Directors
Neither of Michael Jaynes or Michael Malm would be considered “independent” as that term defined by Section 803A of the NYSE Amex Company Guide inasmuch as each of the directors will have material relationships with the Company if the HOJ transaction closes. The Board considers all relevant facts and circumstances in its determination of independence of all members of the Board.
In Nov. Gel and Union will each get their last tranche of $57,500 or $115,000 combined to convert unless they converted more in earlier months which is/was their option. Except for $53,000 owed directly to TCA within 60 days aftet Gel and Union get their last the last tranche ends the conversion from the $513,000 settlement with TCA JSJ may or may not have already converted the note below. And KBM has 2 notes which become convertible in Nov. 180 days after they were signed. After Nov. the dollar amount of notes convertible tapers off quickly with the last note signed August 29th. which becomes convertible in Feb.
In May 2014, in consideration of $50,000 (the "Principal"), the Company issued a 12% Convertible Note (the "JSJ Note 3") to JSJ. The Note bears interest at the rate of 12% per annum and the maturity date is November 21, 2014, but JSJ may require that the Note be repaid on demand. The JSJ Note 3 has a redemption premium of 150% of the Principal (the "Repayment Amount"), which such Repayment Amount may be paid by the Company only upon approval and acceptance of JSJ. The Note is convertible into common stock, at JSJ's option, at a 50% discount to the average of the three lowest trades of the common stock during the 20 trading day period prior to conversion.
On May 14, 2014, the Company entered into a Securities Purchase Agreement with KBM Worldwide, Inc. ("KBM"), for the sale of an 8% convertible note in the principal amount of $29,000 (the "KBM Note 1"). This Note bears interest at the rate of 8% per annum. All interest and principal must be repaid on February 13, 2015. The Note is convertible into common stock, at KBM's option, at a 45% discount to the average of the three lowest closing bid prices of the Company's common stock during the 10 trading day period prior to conversion.
On May 29, 2014, the Company entered into a Securities Purchase Agreement with KBM for the sale of an 8% convertible note in the principal amount of $32,500 (the "KBM Note 2"). The financing closed on May 29, 2014.
EXHIBIT A
PURCHASE SCHEDULE TRANCHES
DATES PURCHASED AMOUNTS
August 1, 2014 $57,500
September 1, 2014 $57,500
October 1, 2014 $57,500
November 1, 2014 $57,500
Assignee may elect to increase the amount purchased
STOCK OWNERSHIP OF MANAGEMENT AND PRINCIPAL STOCKHOLDERS
The following table identifies, as of May 30, 2014, the number and percentage of outstanding shares of Common Stock owned by (i) each person known to the Company who owns more than five percent of the outstanding Common Stock, (ii) each named executive officer and director, and (iii) and all executive officers and directors of the Company as a group:
Name of Beneficial Owner
Common Stock
Beneficially Owned (1)
Percentage of
Common Stock (1)
Michael Jaynes (2)
30,647,636
(3)
22.2
%
Shawn Adamson
30,647,636
(4)
22.2
%
Gene Gilstrap
10,275,000
7.4%
Matthew Veal (2)
0
--
All Officers and Directors as a Group
30,647,636
44.4
%
(1) Beneficial ownership is determined in accordance with the Rule 13d-3(d)(1) of the Exchange Act, as amended and generally includes voting or investment power with respect to securities. Pursuant to the rules and regulations of the Securities and Exchange Commission, shares of common stock that an individual or group has a right to acquire within 60 days pursuant to the exercise of options or warrants are deemed to be outstanding for the purposes of computing the percentage ownership of such individual or group, but are not deemed to be outstanding for the purposes of computing the percentage ownership of any other person shown in the table. The above is based on 138,066,309 shares of common stock outstanding as of April 7, 2014, which such number of issued and outstanding shares includes 700,008 shares of common stock under the Series A Preferred.
(2) Officer and/or director of the Company.
(3) Consists of 30,647,636 shares of common stock held by Alcoy International Services. Mr. Jaynes has sole dispositive voting power over shares held by Alcoy International Services.
(4) Consists of 30,647,636 shares of common stock held by Daimiel Global Resources. Mr. Adamson has sole dispositive voting power over shares held by Daimiel Global Resources.
The number of shares management owns is listed in the SEC filings. So what's the current OS? Plus some for the notes converted since then. Pretty basic math.
Management no longer owns a majority of HJOE's OS.
REG SHO Overview
As defined in Rule 203(c)(6) of Regulation SHO, a “threshold security” is any equity security of any issuer that is registered under Section 12 of the Exchange Act, or that is required to file reports under Section 15(d) of the Exchange Act (commonly referred to as reporting securities), where, for five consecutive settlement days:
There are aggregate fails to deliver at a registered clearing agency of 10,000 shares or more per security;
The level of fails is equal to at least one-half of one percent of the issuer’s total shares outstanding; and
The security is included on a list published by a self-regulatory organization (SRO).
A security ceases to be a threshold security if it does not exceed the specified level of fails for five consecutive settlement days.
Note: The list below contains securities from OTCBB, Other OTC and NASDAQ markets. The totals below reflects the number of securities from each marketplace that are included in the list. Please review the "Market Category" field for the specific listing market for each security.
Market Category Counts
OTCBB (U) Other OTC (u) NASDAQ (Q,G,S)
5 24 22
File Download
Trade Date Download Link File Creation Timestamp
Tuesday, October 28, 2014
Download
10/28/2014 11:00:04 PM
Threshold Security List
Symbol Security Name Market Category Reg SHO Threshold Flag Rule 3210
HJOE HANGOVER JOE'S HOLDING CORPORATION U Y N
Yes I know you saw the stock moving up and bought big. While I watched it since April, read all the financings and knew what would happen to the share price when all the notes started converting and waited until then to buy. What was I thinking. Feel free to read my earlier posts about it.
Let me know what part you don't understand.
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U.S. Reporting Standard: Companies are in compliance with their SEC reporting requirements or are current in their periodic reporting requirements to a U.S. banking or insurance regulator.
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Alternative Reporting Standard: When SEC registration is not required, companies must generally still make information publicly available pursuant to Federal securities laws, including Rule 10b-5 under the Exchange Act and pursuant Rule 144(c)(2) under the Securities Act. OTC Markets Group offers the Alternative Reporting Standard for companies who choose to make material information publicly available to investors
OTCQX U.S companies not reporting to the SEC can follow the Alternative Reporting Standard. These companies submit information pursuant to the OTCQX U.S. Disclosure Guidelines and are subject to the eligibility requirements and terms of the OTCQX Rules for U.S. Companies. OTCQX companies provide current and potential investors with a set of "material" information to help investors make a sound investment decision. OTCQX company disclosure enables an investor to understand the company’s business operations and prospects
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A Company's Obligations on the OTCQX, OTCQB and OTC Pink Marketplaces
Financial Reporting - Many companies are not subject to SEC registration requirements, and therefore, do not make regular filings of financial information and other corporate events with the SEC. Companies are not required to provide financial information to OTC Markets Group; however in order for investors to make informed trading decisions, many companies elect to provide disclosure. For a detailed explanation of SEC registration and reporting requirements and the exemptions available from those requirements, please see the SEC's Small Business Question and Answer Page
Corporate Actions - SEC Rule 10b-17 requires all OTCQX, OTCQB and OTC Pink companies to provide timely notice to FINRA of certain corporate actions, including dividends, stock splits, reverse splits, name changes, mergers, acquisitions, dissolutions, bankruptcies or liquidations, at least 10 days prior to the record date. Companies who fail to report such corporate actions in the required time may be subject to fines up to $5,000. For more information, see FINRA's Notice to Member 10-38. For further details, contact FINRA’s Operations Department at 866-776-0800
The only reason HJOE is now listed on the pink is they no longer meet the 1 cent bid requirement for the QB which just started May 2014. They have been and are SEC compliant in their filings.
Again there are 3 levels to the pink sheets as you term them. Perhaps a reading comprehension course would help you understand the difference in their reporting requirements.
OTC Pink Marketplace Segments
Because companies on OTC Pink are variable in their reporting, OTC Markets Group further segments them based on the quantity and quality of information they provide to investors: Current Information, Limited Information, and No Information
Current Information
Companies that follow the International Reporting Standard or the Alternative Reporting Standard by making filings publicly available through the OTC Disclosure & News Service pursuant to OTC Pink Basic Disclosure Guidelines. The Current Information category is based on the level of disclosure and is not a designation of quality or investment risk.
Limited Information
Designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available. The Limited Information category also includes companies that may not be troubled, but are unwilling to provide disclosure pursuant to OTC Pink Basic Disclosure Guidelines.
No Information
Indicates companies do not provide disclosure. Publicly traded companies that do not provide information to investors should be carefully researched before making any investment decision.
Everything points to the fact that the company will use the data from the soft launch and orders from the NACS show etc. to obtain more traditional (non toxic) financing for the full launch of gitrdone and relaunch of the hangover shot now.
There are a number of notes yet to convert. Based on a 45% discount to Friday's closing price this is the number of shares they would convert into over the next 6 months. While just as an example if the share price were 10 cents the same notes would convert into a total of 11,361,454 shares. So the actual amount of dilution will depend on the price of the stock prior to the conversions. Except for Gel, Union and Tangiers they are each convertible 180 days after they were signed. Tangeirs may or may not have already converted theirs. We won't know until the Nov. filing.
May note JSJ $50,000 plus 12% interest
May 14 KBM $29,000 plus 8% interest
May 29 KBM $32,500 plus 8% interest
Black Mountain $225,000 plus 12% interest, only $50,000 drawn on as of Jun 30th.
LG Jul 3 $52,500 plus 8% interest
Actus Jul 24 $61,500 plus 8% interest
Eastmore Jul 24 61,500 plus 8% interest
Aug 19 KBM $27,500 plus 8% interest
Gel and Union Should be $115,000 combined converting in Nov.
Within 60 days after Gel and Union get their money direct payment to TCA of $53,000
KBM Sept 2 $32,000 plus 8% interest
Tangiers Sept 3 40,000 plus 10% interest
That's a total of $624,800 plus whatever more of the Black Mountain note is drawn.
If it were all based on a conversion price of $0.00175 it would equal another 357,074,285 shares.
Yes thunder you and I have been through this together before ( buying discounted shares from note holders). Unfortunately all good things come to an end and we're left holding a lot of shares worth many times what we paid for them. While some worry about the dilution others take full advantage of it. Follow what the company's doing, not the share price.
Of course the revenues from just the hangover shot in 2012 were no ESTIMATE now were they? So after the results they got from the soft launch combined with their prior experience marketing the hangover shot makes their forward guidance/estimate a little more believable than yours.
Net Sales
During the year ended December 31, 2012, the Company generated approximately $1,079,000 in net sales
For your information there are 3 levels to the OTC pink. And contrary to your comment in your other post HJOE is eligible to relist on the OTCQB when/if they once again meet the 1 cent closing bid requirement again.
OTC Pink Marketplace Segments
Because companies on OTC Pink are variable in their reporting, OTC Markets Group further segments them based on the quantity and quality of information they provide to investors: Current Information, Limited Information, and No Information
Current Information
Companies that follow the International Reporting Standard or the Alternative Reporting Standard by making filings publicly available through the OTC Disclosure & News Service pursuant to OTC Pink Basic Disclosure Guidelines. The Current Information category is based on the level of disclosure and is not a designation of quality or investment risk.
Limited Information
Designed for companies with financial reporting problems, economic distress, or in bankruptcy to make the limited information they have publicly available. The Limited Information category also includes companies that may not be troubled, but are unwilling to provide disclosure pursuant to OTC Pink Basic Disclosure Guidelines.
No Information
Indicates companies do not provide disclosure. Publicly traded companies that do not provide information to investors should be carefully researched before making any investment decision.
GitRDoneEnergy
15 minutes ago ·
Our Canadian distributor reports show is going well in Canada for Git-R-Done-Energy the product is on the way to Canada! We are also shipping to a new distributor today, Faris distributing in Pennsylvania. PA be on the lookout for Healthy Energy Shots coming soon to the Connellsville area soon! We are going to Git-R-Done all over the USA in 2015 for HJOE!
brigar you are right it's not Rage they have their own energy drinks. Only 4% of the exhibitors at the Canadian show are distributors. Maybe you can guess which one it is from the exhibitor list available online.
HJOE's going to do well now but thanks for your concern.
GitRDoneEnergy
7 minutes ago ·
Our Canadian distributor is at the Convenience U CARWACS Show in Calgary today and tomorrow. We are getting ready to lite, Canada up with Healthy Energy Shots! Look for Git-R-Done-Energy coming to Canada this fall and 2015!
Thanks for the information luxe. If you don't mind could you share how many cases you've bought. If I recall right you initially ordered 2 pallets at the beginning of the soft launch. And then ordered at least twice more. It may give others a sense of how well it's selling for you.
The Canadian distributor for the hangover shot was Rage Beverages. That may be the same one their using now.
COLORADO SPRINGS, Colo., Aug. 7, 2012 /PRNewswire/ -- Hangover Joe's (OTCBB: HJOE), maker of The Hangover Recovery Shot™, the official licensed product of "The Hangover" Movies and the USA's #1 leading hangover recovery product, today announced the rollout of The Hangover Recovery Shot to Canadian markets through a strategic distribution partnership with RAGE Beverages Inc.
Hangover Joe's is recognized as a must-have for professional partiers, concertgoers, the bachelor or bachelorette and responsible adults who like to cut loose once in awhile but cannot afford to drag the next day. Made with natural ingredients like taurine, kudzu, green tea leaf and acai fruit extracts, goji berry concentrate, niacin, vitamins B6 and B12, and a small amount of caffeine, The Hangover Recovery Shot provides the vital nutritional punch needed to get you over the slump and feeling like yourself again.
With a shortage of comparable products available for purchase in Canada, Hangover Joe's The Hangover Recovery Shot will be the first of its kind to bring an exciting flare to the Canadian cash-counter shot segment.
"The Canadian market shows great potential for success," said Hangover Joe's co-founder Mike Jaynes. "With 34 million Canadian residents and a well-established distribution partner like RAGE Beverages Inc., we expect to reach millions of dollars in sales in the Canadian market."
Founded in 2006, RAGE Beverages Inc. is a 100% Canadian owned and operated brand owner and distributor with trucks and satellite warehouses throughout Quebec and Ontario. RAGE Beverages Inc. will utilize direct-to-store distribution tactics and strong ties with coast-to-coast distribution partners to ensure the Canadian Hangover Joe's launch is a success.
Private Label Nutraceuticals, LLC v. Hangover Joe's Holding Corporation et al
Defendant: Hangover Joe's Holding Corporation and Hangover Joe's, Inc.
Plaintiff: Private Label Nutraceuticals, LLC
Thirdparty_defendant: Kevin Harden and Bjarte Rene
Thirdparty_plaintiff: Hangover Joe's Holding Corporation and Hangover Joe's, Inc.
Counter_claimant: Hangover Joe's Holding Corporation and Hangover Joe's, Inc.
Counter_defendant: Private Label Nutraceuticals, LLC
Case Number: 1:2014cv00683
Filed: March 7, 2014
Court: Georgia Northern District Court
Office: Atlanta Office
County: Gwinnett
Presiding Judge: Orinda D. Evans
Nature of Suit: Other Contract
Cause of Action: 28:1441
Jury Demanded By: Plaintiff
Access additional case information on PACER
CONTACT PRIVATE LABEL NUTRACEUTICALS
Address:
Private Label Nutraceuticals, LLC
1900 Beaver Ridge Circle, Norcross, GA 30071
Telephone:
1.888.289.1184 or +1.678.328.3701
Fax:
1.888.240.4839 or +1.678.328.3738
Skype:
sales.privatelabelnutra
Hours:
9am – 6pm EST. After Hours Please call +1.(678) 643-0986 if no answer at office number.
Private Label Neutaceuticals, LLC
Well saying how much they shipped and what they "billed" for it could be a little misleading too don't you think. Since you don't seem to understand how they recognize revenue and when.
Revenue Recognition
The Company sells its product primarily through third-party distributors. The Company is not guaranteed any minimum level of sales or transactions. The Company also offers its products for sale through its website at www.hangoverjoes.com . All sales made in the quarter ended March 31, 2014, represent website-generated sales.
The Company recognizes revenue when all of the following have occurred: (1) persuasive evidence of an arrangement exists; (2) delivery to third party distributors and consumers via the Company’s website has occurred; (3) the sales price is fixed or determinable; and (4) collectability is reasonably assured. Delivery is not considered to have occurred until the title and the risk of loss passes to the customer according to the terms of the contract between the Company and the customer. For sales to distributors, revenue is usually recognized at the time of delivery. The Company defers revenues on products sold to distributors for which there is a lack of credit history or if the distribution may be in a new market in which the Company has no prior experience. The Company defers revenue in these situations until cash is received. For sales through the Company’s website, revenue is recognized at time of shipment.
Show me another company at the NACS show that provided it's shareholders with actual sales numbers from the show. I doubt very much there are any.
GitRDoneEnergy
6 minutes ago · Edited ·
Shipping out to a group of truck stops in Oklahoma & Kansas & convenience stores today! (Border Town Truck Stops) Soon truckers in the heartland will discover Git-R-Done-Energy the nations leading healthy energy drink! GIT R DONE!