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Beware of bankrupt stocks like JCPenney and Hertz https://www.cnn.com/2020/05/28/investing/bankruptcies-stocks-jcpenney-hertz/index.html
$CLCL Marijuana Stock GW Pharmaceuticals Delivers Rapid Growth In Q1
Demand for the marijuana drug developer's treatment for epilepsy caused shares to skyrocket last quarter.
Todd Campbell
Todd Campbell
(TMFEBCapital)
May 11, 2020 at 6:23PM
Author Bio
GW Pharmaceuticals (NASDAQ:GWPH) unveiled first-quarter financial results after the market closed on Monday, reporting revenue growth of 207% year over year to $120.6 million and a non-GAAP loss of $0.02 per share, which beat analysts expectations by $0.05 per share.
Surging demand for its marijuana treatment for epilepsy
The biotech company's revenue growth was due to surging sales of Epidiolex, a purified formulation of cannabidiol, or CBD, the second most common chemical cannabinoid found in marijuana. Growing use of Epidiolex by patients with the rare epilepsy disorders Dravet syndrome and Lennox-Gastaut syndrome resulted in net product sales of $116.1 million in the first quarter, including $106.1 million in U.S. revenue.
CBD oil being added to a prescription bottle with a dropper.
IMAGE SOURCE: GETTY IMAGES.
GW Pharmaceuticals remaining revenue came from Sativex, a THC-based drug approved in Europe for use in multiple sclerosis spasticity, or uncontrolled muscle spasms. Phase 3 studies of Sativex that could support a U.S. application for approval are expected to commence later this year.
The company's $8 million net loss in the quarter was a significant improvement from its $50 million loss in the same quarter last year, because operating expenses, including research and development costs, grew much more slowly than revenue. Overall, operating expenses increased 41% year-over-year to $127.8 million.
Epidiolex revenue could continue increasing this year following successful launches in Germany and the United Kingdom. GW Pharmaceuticals also says it plans to make Epidiolex available in France, Spain and Italy later this year, too.
Additionally, management expects a Food and Drug Administration decision to approve Epidiolex for use in tuberous sclerosis complex (TSC) on July 31. Last year, the company reported that Epidiolex's use reduced seizures caused by tumors in TSC patients by 48% in a phase 3 clinical trial. If approved, it could roughly double Epidiolex's addressable patient population.
Here's The Marijuana Stock You've Been Waiting For
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Cannabis legalization is sweeping over North America – 11 states plus Washington, D.C., have all legalized recreational marijuana over the last few years, and full legalization came to Canada in October 2018.
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Todd Campbell has no position in any of the stocks mentioned. His clients may have positions in the companies mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
Still in business?
“coup de grâce
/?ko?o d? 'gräs/
noun
a final blow or shot given to kill a wounded person or animal.”
Do I hear $0.10 (TEN CENTS)?
PepsiCo's energy drink move creates a buzz
Mar. 14, 2020 11:07 AMPepsiCo, Inc. (PEP)KO, MNSTBy: Clark Schultz, SA News Editor
PepsiCo (NASDAQ:PEP) made a rock star deal with the pickup of RockStar Energy, but the extra financial load has the food & beverage giant on a ratings watch "negative" at Moody's for a potential cut.
"Moody's expects PepsiCo's management to remain relatively conservative and to maintain modest leverage despite somewhat high shareholder returns. However, a key factor in the review will be the extent to which the company is willing to reduce shareholder returns to restore stronger credit metrics after this or future acquisitions," notes the ratings agency.
The view from sell-side firms after the energy drink deal was more positive. "With Rockstar underneath their wings, they'll have a family of energy drinks... they can coordinate the activity of an entire family of brands to meet a variety of needs of people," updated Edward Jones analyst John Boylan on the acquisition. UBS also broke down the energy drink market development. "This deal demonstrates PEP’s intention to become a bigger player in the high-growth, high-margin Energy Drink space. Beyond deploying resources to reinvigorate the Rockstar brand, the transaction opens the door to further expansion opportunities in the category including innovations behind the existing portfolio in addition to future partnerships and acquisitions," advised analyst Sean King.
Shares of PepsiCo have fallen off 13% over the last six weeks amid the coronavirus outbreak and concerns over the global economy. Late last week, analysts warned that a lack of social gatherings and sporting events is a short-term negative for PepsiCo sales. That would likely apply to energy drink players Coca-Cola (NYSE:KO) and Monster Beverage (NASDAQ:MNST) as well.
PepsiCo to buy Rockstar Energy for $3.8 billion
By Noah Manskar March 11, 2020 | 8:35am
Rockstar energy drinks
Shutterstock
PepsiCo has reached a deal to buy the Rockstar energy drink maker for $3.85 billion, the food and beverage giant said Wednesday.
The acquisition of Rockstar Energy Beverages — whose offerings include edgy-sounding flavors such as “Whipped Strawberry” and “Killer Grape” — aims to help Pepsi grow its presence in the energy drink market, the company said.
“Over time, we expect to capture our fair share of this fast-growing, highly profitable category and create meaningful new partnerships in the energy space,” PepsiCo chairman and CEO Ramon Laguarta said in a statement.
The deal, expected to close in the first half of this year, will expand Pepsi’s portfolio of energy drinks that already includes the Mountain Dew brand’s Kickstart, GameFuel and AMP offerings. The global energy drink market was valued at about $53 billion in 2018 and is expected to grow to roughly $86 billion by 2026, according to an Allied Market Research report.
MORE ON:
PEPSICO
Coffee-infused soda drives Coca-Cola revenue beat
PepsiCo stock rises after strong third-quarter earnings
PepsiCo will pay you to eat junk food with new cashback rewards
Mountain Dew apologizes to Michigan after embarrassing geography mistake
PepsiCo has distributed Rockstar drinks in North America since 2009. But the current distribution agreement puts limits on how Pepsi can work with other brands and what it can do with its own Mountain Dew energy drink brands, according to The Wall Street Journal, which first reported the acquisition.
“We have had a strong partnership with PepsiCo for the last decade, and I’m happy to take that to the next level and join forces as one company,” Rockstar founder Russ Weiner said in a statement. “PepsiCo shares our competitive spirit and will invest in growing our brand even further.”
PepsiCo said it doesn’t expect the Rockstar deal to materially affect its revenue or earnings per share this year. PepsiCo shares were down 0.5 percent in premarket trading at $133.40 as of 7:16 a.m.
PepsiCo Agrees to Buy Energy-Drink MakerBeverage giant to pay $3.85 billion for Rockstar
By Cara Lombardo
Updated March 11, 2020 8:38 am ET
PepsiCo Inc. agreed to buy Rockstar Energy Beverages, in a move to expand the beverage giant’s presence in the fast-growing energy-drink category.
PepsiCo is to pay $3.85 billion for closely held Rockstar, the companies said Wednesday, confirming an earlier Wall Street Journal report.
Do I hear 19 cents?
Pore Jud Is Daid
????????
“Going...going...gone!”
$CLCL House Judiciary Committee approves landmark marijuana legalization bill | https://thehill.com/homenews/house/471306-house-judiciary-committee-approves-landmark-marijuana-legalization-bill
What else is new?
I wouldn’t touch this stock if you paid me; just my personal opinion. [Another Nice Mess:.. a compilation of scenes featuring Oliver Hardy and Stan Laurel
Q: Is NBEV another one of Brent Willis’ “compartmentalized black ops programs”? In my opinion, it could be; I don’t see any there, there! (See below)
“DUE DILIGENCE : Brent Willis, West Point Grad and successful business leader is on the Bourque Industries Board !!
BUSINESS RESUME :
- 2010 to 2012 CEO and Chairman of the Board of Liberty Ammunition, a world-leading, high-performance, lead-free rifle and handgun ammunition company
- 2006 to 2008 Mr. Willis served as CEO for Cott Corporation. His duties included leadership of a $2 Billion enterprise, management of more than 20 manufacturing plants, and leadership of over 10,000 employees.
- 2002 to 2006 Mr. Willis served as CCO and President for InBev. Mr. Willis’ duties included leadership of top-line growth for this more than $20 Billion enterprise, management of more than 20 manufacturing plants and a sales and marketing budget of more than $3.3 billion and leadership of more than 20,000 people.
- 1996 to 2001 Mr. Willis served as President North Latin America for The Coca-Cola Company. Mr. Willis’ duties included leadership of this roughly $2 Billion enterprise, management of more than 40 manufacturing plants and leadership of more than 20,000 people.
MILITARY BACKGROUND:
Mr. Willis began his career as a Second Lieutenant in the United States Army in 1982. He served in various combat arms leadership capacities around the world including assignments in the 1st Cavalry Division and the Pentagon. He worked on the Strategic Defense Initiative (Star Wars)
and numerous other compartmentalized (black ops) programs
including the Army Robotics Initiatives and Unmanned Aerial Vehicle initiatives (Drones).
He authored the Counter-Air Concept to change the role of Air Defense, which was later adopted as doctrine.
He received numerous decorations, including two Meritorious Service Medals, two Army Commendation Medals, the Army Achievement Medal, and the Airborne Parachutist badge during his military career; he was honorably discharged with the rank of Captain.
He received his B.S. Degree in Engineering from the US Military Academy at West Point and an MBA Degree from the University of Chicago.
We are honored to have Mr. Willis as one new meember to our BOD. Congratulations SHAREHOLDERS ! “
“2 Cents Plain is Three Cents Now!”
“Do I hear 2.5 cents? Going, going, gone!”
Were Hedge Funds Right About Dumping NBEV? https://finance.yahoo.com/news/were-hedge-funds-dumping-age-163959927.html
“2 CENTS PLAIN”?
Headed for “Two Cents Plain”?
$.02 (two cents) can’t be far off for NBEV, in my opinion.
CBD is an ingredient in N.J. brownies, beers and high-end dinners. The FDA says that’s illegal. https://www.nj.com/marijuana/2019/09/cbd-is-an-ingredient-in-nj-brownies-beers-and-high-end-dinners-the-fda-says-thats-illegal.html
Are Insiders Selling NBEV Stock? https://finance.yahoo.com/amphtml/news/insiders-selling-age-beverages-corporation-150806786.html
Is it $3.00 or 3 cents now?
Insiders are selling stock like it's 2007
https://www.cnn.com/2019/08/26/investing/stock-market-insider-selling/index.html
NBEV - Why It Is Still Not A Buy
Aug. 24, 2019
Sales guidance was lowered 10%.
EBITDA is missing by a mile.
7-11 and Walmart roll outs have been a disaster.
I first wrote about New Age Beverages (NBEV) back in April 2015 when it was known as American Brewing and was 30 cents. I fell in love with the small beer company that had Neil Fallon as CEO, and suggested it as a speculative buy. As time passed, it became clear that Neil was great at making beer but not as CEO. While investing in American Brewing, I was introduced to Kevin Fickle of NUWA Corp. Over the years, I met with both Neil and Kevin to discuss growth strategies for American Brewing. While we did not ultimately forge a business partnership, I respected them both. As time passed, they both realized that Neil was not the right man to run American Brewing and ultimately sold the beer assets, bought a kombucha company, hired Brent Willis and formed New Age Beverages. While Brent has grown the company and has increased the stock price dramatically (it peaked at $9.99), the rise has not come without criticism for how Brent runs and promotes New Age. Is the criticism warranted? That is the thesis for this article. Initially, I was a bull on New Age, but I have seen the transformation of a conservative company into a questionable operation; some even say it is a scam in the making.
When I first met my wife, she told me that to prove my love for her I needed to “show her”, not just say it. The same analogy applies to New Age. Promise after promise made has not been a promise kept by Brent Willis (the current CEO). After more than a few claims that have not been executed as promised, it is now time to be shown results.
In the past year, there have been more than a few claims and questionable execution issues at NBEV.
Lowered Revenue forecast and Missed EBITDA
In April 2019 when discussing 2018 year-end results on the Q1 2019 company conference call, the 2019 sales and EBITDA predictions offered by Greg Gould (CFO) were $320 million in sales and $15 million in EBITDA.
Just two weeks ago when the Q2 2019 (six-month) results came out, sales were revised down to the “upper 200 million range” which translates to ~$270 to $300 million. Using the midpoint, we get $285 million. That is more than a 10% miss in revenues.
Regarding EBITDA, after six months, the EBITDA is (.357) million. Lack of sales in China, difficulties getting CBD drink approval in the USA and difficulties getting 7-11 and Walmart (NYSE:WMT) to sell the drinks are the main culprits per management.
In just four months, the company was off substantially on both projections. How can this be? Management blames the China tariffs and delays in the USA approval of CBD drinks as major obstacles in the revenues miss. And these are both fair. Up to a point.
What is disconcerting is the lack of planning/predicting that occurred prior to these projections being made.
The China tariff issues have been well known since last year. So why was NBEV's management so aggressive with their forecasts? Did they expect domestic growth to compensate for the China slowdown? Was NBEV so naive as to think that the trade tariffs would not affect future growth of the company's products. With President Trump doubling down on his expectations that American companies find alternatives to Chinese products, the Chinese government is imposing more tariffs and restrictions on American products daily. Given the current political environment, New Age may wind up having "no business" in China in the future.
NBEV has also had issues properly forecasting/planning the demand for their products inside the United States. A year ago in the second half of 2018 management was talking about the imminent release of CBD beverages by NBEV. The US government approving CBD for drinks nationwide is still shrouded in a cloud of uncertainty, and there is no end in sight regarding "if or when" CBD drinks will be approved. Despite this uncertainty, NBEV unapologetically promised a CBD beverage in the beginning of 2019. We are now nearing the end of August 2019 and still no CBD drink from NBEV. Let me reemphasize this point. A full year later we are still waiting for New Age to make good on their promise of a CBD drink being sold in the United States.
What was once seen as a "market leading opportunity" of being first to market has come and gone. Companies such as CV Sciences (OTCQB:CVSI) and Aurora Cannabis (OTC:ACB) now have CBD infused drinks in the marketplace despite no official approval from the US government. But not New Age Beverages. These delays have cost NBEV dearly.
There are no barriers to entry in the CBD drink market. Any company with an existing bottling facility and distribution network can join the CBD drink market. Just last week it was rumored that Arizona tea was going to enter the CBD drink market. As mentioned above... all talk no action. Not what shareholders want from the management of companies they invest in.
Did NBEV's management not understand the dynamics of the two markets they planned on entering and making them the largest revenue generators for the company? Clearly, there was no "plan B".
Transparency
New Age does not break out sales in a manner that allows investors to track their successes and failures.
What percentage of sales are in the USA and overseas by individual country?
What percentage of sales are by each product segment? Kombucha? Marley? Maverick? Premier Micronutrient? Xing? PMC? BWR?
New Age only breaks out sales by the New Age and Morinda segments. Without the full disclosure of subsequent product lines, one cannot ascertain where the growth and lack of growth is coming from.
Once again, I refer to the Q1 2019 conference call. Management offered a few select percentage specifics but only when they were advantageous and painted a rosy scenario. For example, Greg Gould stated: "Latin America was up 17% Indonesia was up 117% and Vietnam was up 103%."
Those all sound great; however, there are two problems:
Why did NBEV find it so important to report select country comparisons in Q1 2019 but then stopped doing so in Q2 2019?
What are the sales associated with those increases? Going up 103% or 117% from $100 is different than from $100,000 or $1 million. Specifics are lacking.
Also, on the May 9, 2019 Q1 earnings conference call, it was stated that $10 million in sales was expected from the sales of Noni+Collagen for 2019. On May 16, 2019, New Age had a press release touting $600,000 revenue in the first 3 days of their Noni+Collagen in China. No follow-up information has been provided. Why not? Have there been no reorders? It is more than a little peculiar that after bragging about the initial sales the company has gone into hibernation.
Also, in that conference call, it was stated that the Health Sciences portfolio was expected to generate $4 million in 2019 revenues. Once again, no follow-up data. Why provide the data initially if there is no willingness to provide updates? The only logical explanation is that there is no good news to report. If revenues and reorders were strong, the Brent Willis PR machine typically sends out press releases touting them.
The Blame Game
The lack of success at 7-11 and Walmart is a failure by New Age. When reading Mr. Willis' Q2 2019 earnings call transcript comments about why sales are not stronger, you are reading excuses. Mr. Willis says the owners and franchisees are not selling due to a “distribution execution issue within their own systems”.
The reality of the situation is that every company that does business with 7-11 and WMT faces these challenges. This should have been anticipated when NBEV courted these companies.
The truth lies in the details. The one major detail that New Age is not addressing or admitting: NBEV products were introduced into these companies without the proper support from New Age.
Want proof? Look at Monster energy drinks. Or 5 hour energy drinks. Or Muscle Milk. Or Arizona tea. All of those drinks faced the same “execution issues” that New Age faces. Yet, they were able to overcome them. How? Strategically planned execution by those companies. Not by 7-11 or Walmart.
Franchisees want to make money. They are always looking for items in their stores that have sales and need to be re-ordered.
Companies such as those listed above that are now household names had product roll outs that were supported with:
Advertising
Marketing
In store sampling
Free product giveaways and volume discounts to the stores
Social media
All done on a mass scale. And at a cost of several millions of dollars. Not via a roll out at one gas station or convenience store at a time.
There are companies that specialize in mystery shops to guarantee execution of new product roll outs (Field Agent is just one that comes to mind). There are also companies that specifically implement new product roll outs on a mass scale to ensure success. Simply being added to a planogram does not necessarily promise success as NBEV has discovered.
Also, in the company's Q1 2019 earnings call, the CEO said the “early read at Walmart so far was great”. So what happened? How did we go from “great” to having planogram execution issues? Simply having the product on the shelf does not make the product sell.
Poor cost controls
Per Q2 2019 10-Q - On April 3, 2019, the company signed a lease for 156,000 sf of warehouse space at a base rent average of $66,000 a month.
What makes no sense is why the rush to spend $66,000 a month on the additional space?
Per the Q2 2019 10-Q, inventories actually decreased to 36,943 on June 30, 2019 from 37,148 on December 31, 2018. Of this, only $13,538 was finished goods compared to $23,703 on December 31st, 2018. There is no immediate need for 156,000 square feet of warehouse space.
In other words, $264,000 has been wasted in the last 4 months for warehouse space that was not needed. A much more logical approach would have been to sign on option to rent the warehouse. This could have been done for a fraction of the monies spent and saved NBEV over $200,000 and counting.
Stock Dilution
Another major issue is that the company announced on April 30,2019 that NBEV began on “at the market” (ATM) stock offering of up to $100 million of the company's common stock. As of June 30, 2019, $11.4 million was sold resulting in an additional 2.2 million shares being issued. At the current stock price, the remaining $88 million would result in 25 million more shares being sold. The share count would increase from 77 million to over 102 million shares. The dilution never ends.
NBEV has seen parabolic revenue growth over the past several years via acquisitions. Along with that growth, however, NBEV has witnessed increasing losses. NBEV has never generated profits in any quarter since inception.
Conclusion
There is no proof in the business plan as it stands that these losses will turn into profits in the foreseeable future. That scenario coupled with the delays in China trade and the US approval for CBD drinks give me no reason to think that NBEV should be bought at current levels.
It is my opinion that the current stock price of $3.35 still carries a price premium associated with the CBD drinks and China revenues that may never materialize. Prior to these two changes in the NBEV business model being announced, NBEV's stock was selling for $1.50.
It would not be unrealistic to expect the stock price to drop back to the sub $2.00 range until these issues are resolved.
If you enjoyed this article and would like to follow me to read future articles, go to the top of the page and click the "Follow" button under the title and next to my name or click here.
Disclosure: I am/we are short NBEV. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Additional disclosure: The short position is through put options.
Disclaimer: Investing in stocks such as New Age can be risky. There is no guarantee that your investment will be safe. There is also a possibility that you may lose some or all of your investment. Please do your own due diligence before investing in New Age or any other investment. Information provided in this article is informational and should not be the sole guide to determine if investing in the company is appropriate for you. The above are my opinions and should not be the sole purpose for initiating a trade. Always do your own due diligence prior to investing. Also, remember to only initiate trades that are within your pre-defined risk parameters.
banned CBD products, NYC
eateries don’t want to let go of
https://nypost.com/2019/08/21/nyc-eateries-dont-want-to-let-go-of-banned-cbd-products/
Brent David Willis 16 different companies and holds the position of Chairman for Throwdown Industries, LLC, Chairman of TD Legacy, LLC, Chairman for Throwdown Industries Holdings, LLC, Chairman for Xfit Brands, Inc., Chief Executive Officer & Director at New Age Beverages Corp. and Chairman for Throwdown Industries, Inc.
In the past Mr. Willis was Chairman & Chief Executive Officer of Liberty Ammunition, Inc., Chairman & Chief Executive Officer at Vivitris Life Sciences LLC, President, Chief Operating Officer & Secretary at Electronic Cigarettes International Group Ltd. and Chief Operating Officer at Victory Electronic Cigarettes, Inc. (a subsidiary of Electronic Cigarettes International Group Ltd.), Chairman & Chief Executive Officer at Unified Learning LLC, Chairman & Chief Executive Officer for Vascular Technologies, Inc., President & Chief Executive Officer at Cott Corp. (Canada) and Chief Executive Officer & Director at Cott Corp. (a subsidiary of Cott Corp. (Canada)), President-North Latin American Division at The Coca-Cola Co., Vice President-Marketing for The Kraft Heinz Co., Director, Chief Executive & Financial Officer for American Brewing Co., Inc., President & Global Chief Commercial Officer at Anheuser-Busch InBev SA, President & Global Chief Commercial Officer at Companhia de Bebidas das Américas - AMBEV, Captain at The United States Army (District of Columbia) and President-Asia Pacific Zone at InBev SA.
He received an MBA from The University of Chicago and an undergraduate degree from US Military Academy.
Report TOS
Brent David Willis has been at the helm of 16 different companies and holds the position of Chairman for Throwdown Industries, LLC, Chairman of TD Legacy, LLC, Chairman for Throwdown Industries Holdings, LLC, Chairman for Xfit Brands, Inc., Chief Executive Officer & Director at New Age Beverages Corp. and Chairman for Throwdown Industries, Inc.
In the past Mr. Willis was Chairman & Chief Executive Officer of Liberty Ammunition, Inc., Chairman & Chief Executive Officer at Vivitris Life Sciences LLC, President, Chief Operating Officer & Secretary at Electronic Cigarettes International Group Ltd. and Chief Operating Officer at Victory Electronic Cigarettes, Inc. (a subsidiary of Electronic Cigarettes International Group Ltd.), Chairman & Chief Executive Officer at Unified Learning LLC, Chairman & Chief Executive Officer for Vascular Technologies, Inc., President & Chief Executive Officer at Cott Corp. (Canada) and Chief Executive Officer & Director at Cott Corp. (a subsidiary of Cott Corp. (Canada)), President-North Latin American Division at The Coca-Cola Co., Vice President-Marketing for The Kraft Heinz Co., Director, Chief Executive & Financial Officer for American Brewing Co., Inc., President & Global Chief Commercial Officer at Anheuser-Busch InBev SA, President & Global Chief Commercial Officer at Companhia de Bebidas das Américas - AMBEV, Captain at The United States Army (District of Columbia) and President-Asia Pacific Zone at InBev SA.
He received an MBA from The University of Chicago and an undergraduate degree from US Military Academy.
NBEV:CBD-Infused Beverages Delayed Indefinitely
Jan. 3, 2019 3:59 PM ETNew Age Beverages Corporation (NBEV) Philaretos Seeking Alpha
NBEV stock recently rocketed from a market cap of $50 million to over $400 million on CBD-infused beverage hype.
NBEV just got the rug pulled out from under them with recent FDA commissioner’s statement on CBD.
Management hasn’t been forthcoming about the regulatory challenges in rolling out CBD-infused beverages in our opinion.
Launch of CBD-infused beverages delayed indefinitely.New Age Beverages (NASDAQ:NBEV) stock recently rocketed from a market cap of $50 million to over $400 million on CBD-infused beverage hype.According to the commissioner’s statement on Friday (12/20), “…It is unlawful under the FD&C Act to introduce food containing added CBD or THC into interstate commerce, or to market CBD or THC products as, or in, dietary supplements, regardless of whether the substances are hemp-derived. Under the FD&C Act, it’s illegal to introduce drug ingredients like these into the food supply, or to market them as dietary supplements. This is a requirement that we apply across the board to
Brent David Willis
@captainbwillis
a complete fabrication, not grounded in any facts whatsoever. SA should be way more disciplined to maintain credibility. NBEV is actually accelerating Our CBD activities vs. slowing anything down...this dude is now on my list ....indefinitely
Brent Willis is the Chairman and Chief Executive Officer of ECIG. Prior to Victory, Mr. Willis operated as the Chairman and Chief Executive Officer of a portfolio of companies including Liberty Ammunition, a leading lead-free ammunition company, Throwdown Industries, a leading mixed martial arts company, and a start-up medical device company. Mr. Willis continues to own a significant equity stake in each of these firms.
https://www.crunchbase.com/person/brent-david-willis
Edward Vranic, CFA
Edward Vranic, CFA
Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.
ECIG Has Become A Buyout Target For Big Tobacco After Its Failed IPO
Dec. 17, 2014 11:34 AM
Summary
ECIG has declined from a stock price of $5 to $0.11 in the matter of a few weeks over concerns of the company's convertible debt and cash position.
The company's IPO was terminated thanks to these poor market conditions, but it's valued so low that it has become a buyout target for big tobacco.
Revenue growth has been strong and the CEO's guidance suggests a very good Q4 with positive EBITDA and presumably lower cash burn.
Convertible debt holders have a very strong incentive to convert at these low prices then pursue a takeover bid that is lucrative to them and other new shareholders.
Electronic Cigarettes International Group, Ltd. (ECIG) has seen its stock price and enterprise value sharply decline since October when it set terms for its NASDAQ listing. The company planned to raise $150 million at $4.50 per share, valuing it at a $678 million market cap but poor market conditions forced the company to officially withdraw its plan on December 15. Investor concerns over its debt load and dilutive conversion provisions of its convertible notes has caused ECIG to crater from the $5 range in October to $0.11 as of market close on December 16, valuing the company at a mere $9 million in market cap and $57 million in enterprise value. While the bearish argument had merit when the company was trading in the billion dollar range, at these low prices ECIG becomes a very strong buyout target. I believe the convertible debt holders are aware of this and will take advantage of the very favorable conversion terms to participate in and influence the direction of a takeover.
Excitement over the electronic cigarette market is quite warranted. E-cigarettes work by vaporizing nicotine liquid, do not contain tobacco and there is no combustion, smoke nor odor. They have become popular as the vaping process can closely mimic the act of traditional smoking but also allows consumers to have control and choice over the product as they can mix and match component devices to save money and have a variety of flavors to choose from to make the experience more pleasant. Investor and industry craze over e-cigarettes have tempered a bit as governments worry that the process will lead to increased youth smoking and even if the trend is limited strictly to e-cigarettes, they still contain the addictive nicotine drug. E-cigarettes, in theory, are meant as an intermediary step towards smokers kicking their habit or an alternative that allows them to smoke in places where it is disallowed or shunned. Increased taxation and government restrictions on advertising and places for vaping may hurt future industry growth however the estimated sales for the U.S. vapor market alone is already $2.5 billion for 2014 with global sales expected to surpass $10 billion annually by 2017.
ECIG has been aggressive in its pursuit of this market. Through various acquisitions and organic growth of its flagship Victory brand it has managed to quickly grow from $1 million in revenue in 2013 to an estimate of more than $80 million in revenue in 2014 according to a message from the company's CEO Brent Willis to a shareholder on December 15:
This message provides important data for investors who are trying to determine if ECIG is a good speculative bet at these very low levels. The company's Q3 report showed $16 million in revenue for Q3 2014 and $31 million in revenue year-to-date. Assuming the CEO's guidance is accurate that would mean revenue for Q4 is expected to be more than $50 million. If $50 million per quarter is the starting point going into 2015, investors can speculate that the company will have revenues in excess of $200 million next year.
The company had an operating gain of $19 million in Q3 and an operating loss of $65 million year-to-date but these figures have been greatly impacted by the change in value to the warrants as the stock price fluctuates and the goodwill impairment. Excluding those two line items the operating loss is $19 million for Q3 and $42 million year-to-date. There was a one-time charge in Q3 of $5.6 million due to the aging of inventory leading to a normalized loss of $14 million for the quarter. The CEO claims an EBITDA margin in excess of 50% and an EBITDA greater than $3.2 million although the time period for those numbers is not specified. When looking at gross margin less marketing and SG&A costs, year-to-date numbers do not suggest a positive EBITDA so investors will have to carefully review Q4 numbers to see if positive EBITDA is achieved. If so, this is a very good development as the company has grown just enough to reduce its cash burn at a time when it is running low on cash.
The bearish argument on ECIG has been a strong one in 2014. Traders with a short selling focus could have pointed to the company's high cash burn rate, the fact that a major portion of its assets are goodwill and intangibles, the high short-term debt load relative to assets and to revenue and the conversion provisions on that debt that could lead to very high dilution after a tank in the stock price as valid reasons to ride a short down from $19 to less than $1. However, I believe at 11 cents the stock price has overreacted to these issues and the CEO's email points to extremely improved operating performance.
It is imperative that investors interested in ECIG understand the terms and level of its debt and the implications on the stock price. All of the debt is short-term and must be converted or refinanced within the next 12 months. The company funded its acquisitions through short term debt expecting that the IPO will allow for it to pay off its obligations as well as fund a further acquisition that has since been cancelled. The company has $48 million in debt and another $21 million in payables against only $29 million in current assets for a working capital deficit of $20 million. Page 20 of the company's Q3 filing outlines the amount, type and features associated with each security.
Conversion provisions for some of the notes are very favorable for the holder of these securities as the conversion rate can decline when the stock price declines or other dilutive activities take place. For instance, the 4% notes have the following conversion clause:
"The conversion price of the notes will be adjusted if the closing bid price for the Company's common stock on November 26, 2014 is below the conversion price, in which case the original conversion price will automatically adjust to 70% of the lowest VWAP in the 15 trading days prior to such date".
Since November 26 the stock has gone from $1 to $0.11 with an increase in volume, suggesting that some notes have been converted to shares and are being flooded into the market. Based on the definition above, we can assume that the conversion rate is at least $0.70 as the stock was trading in the $1 to $2 range in late November. In the event of a default, the holders of the 4% notes are able to convert at a price that's equal to 60% of the lowest VWAP during the 30 trading day-period immediately prior to the default event.
For the notes without explicit conversion instructions, I predict that they will be converted using a similar method based on market prices at the time they come due if a suitable refinancing option isn't successful. Dilution could be well in excess of 100%. The company's market cap of $9 million does not mean a lot at this moment, but the company's enterprise value - which includes the value of the company's debt - is still only $57 million so upside exists even with heavy dilution. I can foresee a resolution to the debt that involves it being converted into shares at 10 cents, or about 480 million shares. For the sake of simplicity and the fact that some debt may not be converted and some may have been converted at higher prices, my analysis will assume that ECIG will end up with a total float of 500 million shares with a cleaned up balance sheet that has little to no debt.
Big tobacco companies have been aggressive in the pursuit of the e-cigarette market although capturing market share has been difficult as consumers tend to go for the independent vaporizers in vape shops over the cigarette look-alikes made by the big companies that are more expensive and less diverse. Lorillard Inc. (NYSE:LO) acquired BluCigs for $135 million in 2012, which at the time had only $30 million in annual revenue so LO paid more than 4x its revenue for Blu.
ECIG has already surpassed $30 million in revenue for this year, should surpass $80 million in revenue for 2014 according to the CEO and $200 million in revenue in 2015 based on the pace set in Q4. A $135 million price tag would be just the starting point for ECIG and even at a share count of 500 million that would be $0.27 per share. A $250 million offer would be paying just 1.25x of ECIG's annual revenue and that would lead to a $0.50 per share offer. A $800 million offer would lead to a price of 4x of revenue or $1.60 per share.
The alternative to ECIG converting its debt at these bargain basement stock prices is a formal restructuring process or bankruptcy. The stock is certainly priced for that as it is only 11 cents away from zero. I believe this scenario isn't likely especially if the debt holders are given a deal that gives them cheap shares and control over the company. Wasting time in the formal bankruptcy process for a growing company in an industry that is desirable by large cigarette companies in order to maintain market share and reinvent themselves is not the best way to efficiently maximize investment profits.
I strongly believe that ECIG's plight will end with it being bought out relatively cheaply unless the CEO can find a way to maneuver the company through this working capital deficit without significantly diluting existing shareholders, including himself and other insiders, and maintain control over the company. Then the company can refuse any low-ball bids and work to gain back the market cap it had before the IPO problems cratered the stock. But even with my fairly conservative scenario where shareholders are significantly diluted and the company gets bought out for $250 million which is less than 40% of the proposed valuation of the entire company after the IPO, I still see a scenario of $0.50. That is nearly 5x upside from the current stock price versus the unlikely downside scenario of bankruptcy with shareholders being wiped out. I like the risk-to-reward profile offered by ECIG while it sits through this turmoil and I will continue to hold my position until significant price appreciation takes place.
https://seekingalpha.com/amp/instablog/1107010-edward-vranic-cfa/3561345-ecig-has-become-a-buyout-target-for-big-tobacco-after-its-failed-ipo
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NBEV Has Debt But No Earnings;
Should You Worry?
Simply Wall St.August 13, 2019, 5:15 PM UTC
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. We note that New Age Beverages Corporation (NASDAQ:NBEV) does have debt on its balance sheet. But is this debt a concern to shareholders?
What Risk Does Debt Bring?Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. If things get really bad, the lenders can take control of the business. However, a more common (but still painful) scenario is that it has to raise new equity capital at a low price, thus permanently diluting shareholders. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.
See our latest analysis for New Age Beverages
What Is New Age Beverages's Net Debt?
You can click the graphic below for the historical numbers, but it shows that as of June 2019 New Age Beverages had US$24.2m of debt, an increase on US$9.42m, over one year. However, its balance sheet shows it holds US$83.6m in cash, so it actually has US$59.4m net cash.
NasdaqCM:NBEV Historical Debt, August 13th 2019
A Look At New Age Beverages's Liabilities
The latest balance sheet data shows that New Age Beverages had liabilities of US$88.2m due within a year, and liabilities of US$85.7m falling due after that. On the other hand, it had cash of US$83.6m and US$15.8m worth of receivables due within a year. So it has liabilities totalling US$74.5m more than its cash and near-term receivables, combined.
New Age Beverages has a market capitalization of US$276.7m, so it could very likely raise cash to ameliorate its balance sheet, if the need arose. However, it is still worthwhile taking a close look at its ability to pay off debt. While it does have liabilities worth noting, New Age Beverages also has more cash than debt, so we're pretty confident it can manage its debt safely. There's no doubt that we learn most about debt from the balance sheet. But ultimately the future profitability of the business will decide if New Age Beverages can strengthen its balance sheet over time. So if you're focused on the future you can check out this free report showing analyst profit forecasts.
Over 12 months, New Age Beverages reported revenue of US$152m, which is a gain of 197%. So there's no doubt that shareholders are cheering for growth
So How Risky Is New Age Beverages?
Statistically speaking companies that lose money are riskier than those that make money. And the fact is that over the last twelve months New Age Beverages lost money at the earnings before interest and tax (EBIT) line. And over the same period it saw negative free cash outflow of US$15m and booked a US$19m accounting loss. While this does make the company a bit risky, it's important to remember it has net cash of US$84m. That means it could keep spending at its current rate for more than five years. The good news for shareholders is that New Age Beverages has dazzling revenue growth, so there's a very good chance it can boost its free cash flow in the years to come. High growth pre-profit companies may well be risky, but they can also offer great rewards. When I consider a company to be a bit risky, I think it is responsible to check out whether insiders have been reporting any share sales. Luckily, you can click here ito see our graphic depicting New Age Beverages insider transactions.
Of course, if you're the type of investor who prefers buying stocks without the burden of debt, then don't hesitate to discover our exclusive list of net cash growth stocks, today.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
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NBEV Has Debt But No Earnings; Should You Worry?
Simply Wall St.August 13, 2019, 5:15 PM UTC
Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility of prices, but whether you will suffer a permanent loss of capital.' So it might be obvious that you need to consider debt, when you think about how risky any given stock is, because too much debt can sink a company. We note that New Age Beverages Corporation (NASDAQ:NBEV) does have debt on its balance sheet. But is this debt a concern to shareholders?
What Risk Does Debt Bring?Debt and other liabilities become risky for a business when it cannot easily fulfill those obligations, either with free cash flow or by raising capital at an attractive price. If things get really bad, the lenders can take control of the business. However, a more common (but still painful) scenario is that it has to raise new equity capital at a low price, thus permanently diluting shareholders. Having said that, the most common situation is where a company manages its debt reasonably well - and to its own advantage. The first thing to do when considering how much debt a business uses is to look at its cash and debt together.
See our latest analysis for New Age Beverages
What Is New Age Beverages's Net Debt?
You can click the graphic below for the historical numbers, but it shows that as of June 2019 New Age Beverages had US$24.2m of debt, an increase on US$9.42m, over one year. However, its balance sheet shows it holds US$83.6m in cash, so it actually has US$59.4m net cash.
NasdaqCM:NBEV Historical Debt, August 13th 2019
A Look At New Age Beverages's Liabilities
The latest balance sheet data shows that New Age Beverages had liabilities of US$88.2m due within a year, and liabilities of US$85.7m falling due after that. On the other hand, it had cash of US$83.6m and US$15.8m worth of receivables due within a year. So it has liabilities totalling US$74.5m more than its cash and near-term receivables, combined.
New Age Beverages has a market capitalization of US$276.7m, so it could very likely raise cash to ameliorate its balance sheet, if the need arose. However, it is still worthwhile taking a close look at its ability to pay off debt. While it does have liabilities worth noting, New Age Beverages also has more cash than debt, so we're pretty confident it can manage its debt safely. There's no doubt that we learn most about debt from the balance sheet. But ultimately the future profitability of the business will decide if New Age Beverages can strengthen its balance sheet over time. So if you're focused on the future you can check out this free report showing analyst profit forecasts.
Over 12 months, New Age Beverages reported revenue of US$152m, which is a gain of 197%. So there's no doubt that shareholders are cheering for growth
So How Risky Is New Age Beverages?
Statistically speaking companies that lose money are riskier than those that make money. And the fact is that over the last twelve months New Age Beverages lost money at the earnings before interest and tax (EBIT) line. And over the same period it saw negative free cash outflow of US$15m and booked a US$19m accounting loss. While this does make the company a bit risky, it's important to remember it has net cash of US$84m. That means it could keep spending at its current rate for more than five years. The good news for shareholders is that New Age Beverages has dazzling revenue growth, so there's a very good chance it can boost its free cash flow in the years to come. High growth pre-profit companies may well be risky, but they can also offer great rewards. When I consider a company to be a bit risky, I think it is responsible to check out whether insiders have been reporting any share sales. Luckily, you can click here ito see our graphic depicting New Age Beverages insider transactions.
Of course, if you're the type of investor who prefers buying stocks without the burden of debt, then don't hesitate to discover our exclusive list of net cash growth stocks, today.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
NBEV: Better Off Investing Elsewhere
TipRanks
August 12, 2019, 4:23 PM UTC
The market isn’t always right, but New Age Beverages (NBEV) falling after a quarter the company attempted to play off as strong tells an accurate story. The company's promising large CBD-beverage deals and major distribution opportunities that all failed appropriately trades at multi-month lows below $4. Another 5% dip following Q2 results tells all the story that investors need to know.
Q2 Results
New Age Beverages spent a lot of time on the Q2 earnings report discussing the results in comparison to the same period last year. The company has closed several acquisitions including the large Morinda deal in the process. The only real relative number is either organic growth or the comparison to forecasts at the time of the deal.
For Q2, the beverage company reported revenues of $66.3 million, up 397% from last Q2 and 14% sequentially. The only important metric here is that New Age grew revenues sequentially from the weak Q1 numbers.
The company barely generated a positive adjusted EBITDA in Q2 highly questioning the value of the Morinda deal. During Q1, New Age was easily EBITDA positive at $4 million. The end result was another EPS miss that continues a trend of the company not even matching analyst estimates.
All in all, the Morinda deal was supposed to bring the company up to revenues of $320 million and positive EBITDA of at least $15 million. The Q2 results don’t appear enough to reach those totals.
What Happened To CBD?
The big promise of investing in New Age Beverages was to own a company positioned to be early market leader in CBD-infused beverages. The Q2 results have the company selling CBD products in both the U.S. and Hong Kong, but not so much on the beverage side.
The company suggests the FDA is allowing thousands of smaller companies to enter the CBD-infused market and delaying public companies like New Age Beverages. So the company positioned for market leadership and an early market advantage isn’t even in the market yet.
The CBD delays resemble the Walmart (WMT) and 7-Eleven distribution deals where the company failed to deliver on promises. New Age management now suggests that 7-Eleven is impossible to deal with as franchises don’t follow corporate wishes. All of these major deals failed to materialize as forecast due to management incompetence or desire for being highly promotional on the potential of new products and distribution deals.
The company now expects revenues to reach the high $200 million range in 2019, down from the $320 million levels when closing the Morinda deal last year. With only $124 million of revenues in the 1H of the year, an analyst questioned the company on how even a $70 million Q3 would deliver full-year revenues of $290 million.
Takeaway
The key investor takeaway is that New Age Beverages has a lot of promises regarding CBD-infused beverages, large distribution deals or even the Morinda business, but the common outcome is always failure. Investors would be wise to avoid this stock and ignore all the undeliverable promises of the management team.
The cannabis and CBD market offers numerous companies that are delivering on growth promises. Investors would be far better off investing elsewhere as New Age constantly fails to deliver.
We can also see on TipRanks that investor sentiment is red, as individual investors have been, on net, pulling back from NBEV shares over the last 30 days. (To see more, click here)
Former FDA chief warns consumers that all forms of CBD in food is actually illegal https://www.cnbc.com/2019/08/09/former-fda-chief-scott-gottlieb-warns-cbd-in-food-actually-illegal.html
Cannabis in China has been illegal since 1985. However, hemp grows in China, and historically has been used for fiber, as well as for some ritual purposes within Taoism.
History in the 19th century, the majority-Muslim Xinjang region was a major producer and exporter of hashish, with Yarkand being a major center.[1] Tens of thousands of kilograms annually were exported to British India, legally and under tariff, until 1934 when Chinese authorities cut off the legal trade, though smuggling continued for some years after.[2]Má a Chinese word for cannabis Ma or Má (Mandarin pronunciation: [ma?]), a Chinese word for cannabis, is represented by the Han character 3][4][5] The term ma, used to describe medical marijuana by 2700 BCE, is the oldest recorded name for the hemp plant.[6]The word ma has been used to describe the cannabis plant since before the invention of writing five-thousand years ago. Ma might share a common root with the Proto-Semiticword mrr, meaning "bitter." Evidence of the earliest human cultivation of ma was found off the coast of mainland China, on the island of Taiwan.[7][8][9] Ancient Chinese prose and poems, including poetry in the Shi jing (Book of Odes), mention the word ma many times. An early song refers to young women weaving ma into clothing.[3][10][9]The word ma is often paired with the Chinese word for "big" or "great" to form the compound word dama or (dàmá). Dama is sometimes used to describe industrial hemp, as there is a negative connotation meaning "numbness" associated with the word ma by itself.[11][12] Historical Chinese medical texts (c. 200 CE) through contemporary twentieth century Chinese medical literature discuss individual terms for ma, including mafen, mahua, and mabo,referring to specific parts of the male and female flowers of a cannabis plant with differing cannabinoid ratios.[13]Legal status In 1985, the People's Republic of Chinajoined the Convention on Psychotropic Substances and identified marijuana as a dangerous narcotic drug, and illegal to possess or use it. The penalty for marijuana possession in China is disputed from various sources, but according to the Law on Public Security Administration Punishments, marijuana smokers shall be detained for 10 to 15 days and fined a maximum of 2,000 yuan.[14]https://en.m.wikipedia.org/wiki/Cannabis_in_China
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New Age Launches CBD In Hong Kong, China
ACCESSWIRE
ACCESSWIREJune 18, 2019, 12:10 PM UTC
DENVER, CO / ACCESSWIRE / June 18, 2019 / NEW AGE BEVERAGES CORPORATION (NBEV), the Colorado and Utah-based organic and natural products company intending to become the world's leading healthy products company, today announced the launch of their CBD portfolio into Hong Kong, its first major international expansion.
KEY HIGHLIGHTS:
New Age launches its first international country with the launch of the 'NHANCED CBD into Hong Kong, China. Plans to launch in an additional 58 countries in Q3 and Q4 as part of its drive to lead in CBD products worldwide.CBD portfolio launching under the Health Sciences Division umbrella delivering the R&D, medical insight and science to provide consumers the most trusted products available.New Age CBD launch through all of its channels - direct-to consumer, traditional retail, e-commerce, medical and specialty channels.Under the umbrella of its Health Sciences Division wholly-owned subsidiary, New Age is shipping its premium portfolio of CBD oils, creams, and lotions to Hong Kong beginning June 18th 2019, with activation across its entire global direct-to-consumer channel under its 'NHANCED CBD brand name. The launch will initially cover the areas of Hong Kong Island, Kowloon, and the New Territories and will feature three distinct products, CBD Body Cream at 150mg CBD strength, CBD Roll-on Gel at 200mg CBD strength, and CBD Oil at 500mg CBD strength. The products will be sold immediately through the direct-to-consumer product consultants, as well as through a new dedicated e-commerce website www.NHANCEDCBD.com.
Jerry Haase, M.D., Chief Medical and Scientific Officer for the New Age Health Sciences Division commented, "The Health Sciences Division at New Age is so proud to bring all these superior clinical products to consumers. We have years of study in cannabinoids, and one of the most extensive arrays of intellectual property in the beverage industry at New Age. Our launch of CBD leverages that depth of expertise to provide a highly efficacious CBD portfolio to consumers."
New Age's CBD product line features full-spectrum CBD, which means the CBD has been distilled with the lipids and fillers removed, while still maintaining a full spectrum of CBD and other cannabinoids. This diversity in phytonutrient makeup creates a cohesion and synergy among the cannabinoids. The hemp source, delicate CBD extraction, processing techniques, and the nature of the CBD itself all differentiate the New Age CBD product line from competitors. 'NHANCED CBD and the Health Sciences CBD products are sourced from hemp grown outdoors in farms located in the Pacific Northwest region of the United States.Shon Whitney, Senior Vice President of Sales and Marketing at Morinda added, "The launch of CBD in Hong Kong and China is another step in our drive for worldwide leadership in the emerging CBD sector. In addition to this launch, we have already finalized formulas and are moving to production of CBD-infused beverages and dietary supplements, which we are launching in initial markets this year and will continue to roll-out globally as the regulatory landscape allows.About New Age Beverages Corporation (NASDAQ: NBEV)
New Age Beverages Corporation is a Colorado and Utah-based healthy products company dedicated to inspiring and educating consumers to "live healthy". The Company is the only omni-channel company with access to traditional retail, e-commerce, direct-to-consumer, and medical channels across 60 countries around the world. New Age is also the only one-stop-shop of healthy products and includes the brands Tahitian Noni, TeMana, Búcha Live Kombucha, XingTea, Coco-Libre, Marley, 'NHANCED and others. New Age competes in the growth segments of the >$1 trillion-dollar non-alcoholic beverage industry and has become one of the 40 largest non-alcoholic beverage companies, one of the largest healthy beverage companies, and the fastest growing in the world over the past three years. The Company's brands are sold across all 50 states within the US and in more than 60 countries internationally across all channels via a hybrid of direct-to-consumer and traditional distribution and route-to-market systems.New Age has exclusively partnered with the world's 5th largest water charity, WATERisLIFE, to end the world water crisis with the most innovative technologies available. Donate at WATERisLIFE.com to help us #EnditToday.The Company operates the websites www.newagebev.com, www.newagebev.us, www.morinda.com, www.mybucha.com, www.xingtea.com, www.drinkmarley.com,www.nhancedcbd.com, and www.cocolibre.com.
Safe Harbor Disclosure
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are any statement reflecting management's current expectations regarding future results of operations, economic performance, financial condition and achievements of the Company including statements regarding New Age Beverage's expectation to see continued growth. The forward-looking statements are based on the assumption that operating performance and results will continue in line with historical results. Management believes these assumptions to be reasonable but there is no assurance that they will prove to be accurate. Forward-looking statements, specifically those concerning future performance are subject to certain risks and uncertainties, and actual results may differ materially. New Age Beverages competes in a rapidly growing and transforming industry, and other factors disclosed in the Company's filings with the Securities and Exchange Commission might affect the Company's operations. Unless required by applicable law, NBEV undertakes no obligation to update or revise any forward-looking statements.For investor inquiries about New Age Beverages Corporation please contact: Media:Desiree Rosa
MULTIPLYTel: 202-292-4566
NewAgeBev@wearemultip.ly
Investor Relations Counsel:
Cody Slach, Gateway
Tel 949-574-3860
NBEV@GatewayIR.com
New Age Beverages Corporation:
Greg Gould
Chief Financial and Administrative Officer
Tel 303-289-8655
GGould@NewAgeBev.com
SOURCE: New Age Beverages Corporation
View source version on accesswire.com:
https://www.accesswire.com/549085/New-Age-Launches-CBD-In-Hong-Kong-
Bob Marley died on 11 May 1981 at Cedars of Lebanon Hospital in Miami (now University of Miami Hospital), aged 36. The spread of melanoma to his lungs and brain caused his death. His final words to his son Ziggy were "Money can't buy life."
Wikipedia › wiki › Bob_Marley
Bob Marley - Wikipedia
Spouse: Rita Marley (m. 1966–1981)
Date of birth: February 6, 1945
https://en.m.wikipedia.org/wiki/Bob_Marley
New Age Beverages (NBEV) Prices 12.9M Common Stock Offering at $3.50/Share
November 9, 2018 9:05 AM
New Age Beverages Corporation (NASDAQ: NBEV) the Colorado-based organic, natural and healthy functional beverage company focused on becoming the world's .
https://www.streetinsider.com/dr/news.php?id=14809674