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TGOD Is Now Selling Pre-Rolls. Something Actually Ahead_Of_Schedule!..EOM
WOW..GRPS Partner Just Topped 1,000%! NICE...EOM
GRPS Partner Up Over 900% On Volume Of_239 Mil!..We_Need_That!!!...EOM
GRPS Does Have A Doctor At The Helm._Come_On_COVID-19_Pump!!..EOM
Maybe GRPS Will Do A COVID-19 3-Card Monte_Pump_Too...EOM
OAN: IF One TGOD Employee Tests Positive For The Coronavirus, We're TOAST.
Longs: Maybe We Get The Ancaster Processing License_Next_Week...EOM
I Still Don't Understand The Giddiness For A Sub-Penny Stock That Has No Products Available To Buy, Not Current On The Freakin' OTC Pink Sheets, Advertised A One-Time Asset Sale As 'Revenue'. Now, I will admit that GRPS has a very nice looking website. I just hope they stop the 3-card monte pumps and become a real company selling real products.
When Will HEXO Pay MediPharm What It Owes?...EOM
I Wish Analysts Were Still Interested In TGOD. The Last Conference Call Had Only 3 Analysts with one only actually asking Brian to resign. Those analysts can ask tough questions to get us a real picture. Because there is little interest, we are left in the dark on a lot of key issues. TGOD is on life support, and we need a real sense of its survival chances. That tortoise vs. hare crap has gotten old. We are 2 freakin' years in, $400 million spent, and NOT ONE FACILITY COMPLETED 100%!!!!!! Just pathetic execution.
GRPS Doesn't Care About Getting OTC Current--Only The_3-Card_Monte_Pump..EOM
I'll Just Wait Until Day 30 Below $1_For_One_Single_Reminder...EOM
That 1.5 Mil Sell Was A Vote Of_No_Confidence...EOM
Will TGOD Survive The Coronavirus Pandemic?...EOM
We Might See That $0.10 Sooner Than I_Thought...EOM
Price Just Fell Off A Cliff. Heavy Selling...EOM
Heck At This Point, I Might As Well_Fast_Forward_To_30_Days...EOM
At At $0.10, I Can Buy 15,000 Shares_For_$1,500...EOM
We Need VOLUME-At Least 10 Million Shares Traded...EOM
Need That Bid Up To $0.0036. Come On_3-Card_Monte_Pump!...EOM
Financing Is NEEDED Before April 30, 2020...EOM
TGOD's Story Will Reveal Based On How Financing_Is_Obtained...EOM
8th Consecutive Trading Day Below $1. 22 More_To_Go._Then_NYSE_Notice..EOM
Come On 3-Card Monte Pump! Let's See $0.02_Again!...EOM
TGOD Stated Ancaster Processing License Expected 1st Week_Of_February...EOM
Amazing..March 17, 2020 AND STILL NO ANCASTER PROCESSING_LICENSE...EOM
7th Consecutive Trading Day Below $1. 23 More_To_Go._Then_NYSE_Notice..EOM
Denying Reality Does No One Any Good..EOM
Canada Just Closed Its Borders Because Of Coronavirus...
Canada Closing Borders to Non-citizens Because of Coronavirus, U.S. Citizens Exempt from Ban ‘for the moment’
PUBLISHED MON, MAR 16 20201:46 PM EDT UPDATED MOMENTS AGO
https://www.cnbc.com/2020/03/16/coronavirus-response-canada-closing-borders-to-non-citizens.html
Can't Wait For The Next 3-Card Monte Pump...EOM
1,200,000,000 O/S Divided By 20 = 60,000,000...EOM
Terry Knows 20-for-1 Reverse Split Is Probable...EOM
By End Of 2020, We'll See Who Was_Right...EOM
You're Truly A Neophyte If You Believe This...EOM
If You Believe This, I Have A Bridge_To_Sell_You_In_New_York...EOM
6th Consecutive Trading Day Below $1. 24 More_To_Go._Then_NYSE_Notice..EOM
NEWAGE REPORTS 386% FULL YEAR 2019 REVENUE GROWTH...
Strong Balance sheet with over $250 million in assets and cash of $61 million
Business transformation resulted in developing an infrastructure across 60 countries and a near 5-fold increase in full year revenue
NewAge Beverages Corporation (Nasdaq: NBEV), the Colorado-based healthy products company dedicated to inspiring and educating the planet to "live healthy", today announced financial results for the year ended December 31, 2019 with revenue growth of 386%.
Highlights for Full Year 2019 Compared to Full Year 2018:
-- Net revenue increased 386% to $253.7 million versus prior year of $52.2 million
-- Gross margins increased to 60.2% compared to 17.8% in the prior year
-- Net loss was $89.8 million, driven primarily by a non-cash impairment charge
-- Adjusted EBITDA* loss improved by $1.7 million to $13.4 million from $15.2 million in 2018
* Adjusted EBITDA is a non-GAAP financial measure. See the discussion and reconciliation of non-GAAP financial measures below.
Brent Willis, Chief Executive Officer of NewAge commented, "In 2019 we increased our scale five times, evolving from a $50 million company to one with net revenue above $250 million. Whilst doing so, we gained access to a range of new channels and opportunities across our infrastructure that now spans 60 countries worldwide. We also added global iconic brands like Nestea, Volvic, Illy, and Evian to our portfolio, strengthened our platform worldwide and made important investments in our leadership team. We believe there is no better time to be in the business of healthy products, with a system like ours that primarily delivers directly to consumers' homes. We are extremely well positioned to address consumer concerns for staying healthy around the world with our unique portfolio of healthy products and omnichannel route to market."
Full Year 2019 Financial Results
In 2019, net revenue was $253.7 million compared to $52.2 million in 2018, an increase of 386%.
Gross profit for 2019 increased 16-fold to $152.7 million compared to $9.3 million in 2018. Gross margin increased to 60.2% for 2019 compared to 17.8% for 2018, which reflects a significant improvement in product portfolio, penetration of more profitable channels, and access to new, more profitable markets.
Net loss was $89.8 million, or $1.16 per share, during 2019 compared to a net loss of $12.1 million, or $0.26 per share, in 2018. The increase in net loss during 2019 was significantly impacted by the $44.9 million non-cash impairment charge taken during the year related to our U.S. retail brands business. Adjusted EBITDA loss improved by $1.7 million to $13.4 million from $15.2 million in the prior year period.
Gregory A. Gould, Chief Financial Officer, commented, "I believe we are well positioned for 2020 following our business transformation during 2019. We have a strong balance sheet with over $60 million of cash and over $250 million in assets with less than $30 million of debt, as well as a scale and revenue base that is almost five times the size we were in the prior year. Growing at this pace is always a challenge, but in the process we have kept our balance sheet and capital structure strong, providing us with flexibility for our next steps in 2020. We have impaired a majority of our U.S. retail business as we focus our efforts on our strongest and most profitable assets, which we expect to drive a meaningful improvement on our EBITDA in 2020."
Fourth Quarter 2019 Financial Results
During the fourth quarter of 2019, net revenue increased 323% to $59.2 million compared to $14.0 million in the fourth quarter of 2018.
Gross profit in the fourth quarter of 2019 increased 10-fold to $32.2 million compared to $3.2 million in the fourth quarter of 2018. Gross margin increased to 54.3% for the fourth quarter of 2019 compared to 23.0% for the fourth quarter of 2018, reflecting the positive change in both product and channel mix, especially with our direct-to-consumer business.
Net loss was $65.9 million, or $0.83 per share, during the fourth quarter of 2019 compared to a net loss of $2.6 million, or $0.04 per share, in the fourth quarter of 2018. The increase in net loss was significantly impacted by the $44.9 million non-cash impairment charge taken during the fourth quarter of 2019.
Adjusted EBITDA was a loss of $17.4 million compared to an adjusted EBITDA loss of $8.7 million in the prior year period. The increased adjusted EBITDA loss was due primarily to the impact of the U.S. retail brands that are under strategic review, as well as continued softness in China that have been a consistent industry challenge since government intervention in the early part of 2019.
Conference Call
The Company will host a live conference call and webcast today at 8:00 a.m. ET. Conference call details are provided below. Interested investors can dial into the conference call to hear the details of management's update and participate in a question and answer session.
Date: Monday, March 16, 2020
Time: 8:00 a.m. Eastern time
Toll-free dial-in number: 1-866-221-1749
International dial-in number: 1-270-215-9924
Conference ID: 7818277
The conference call will also be broadcast live and available for replay here and via the investors section of the Company's website at https://newagebev.com/en-us/our-story/investors. The webcast replay will be available for approximately 45 days following the call.
Please call the conference telephone number 5-10 minutes prior to the start time. You will be asked to register your name and organization.
A replay of the conference call will be available after 11:00 a.m. Eastern Time on the same day through Monday, March 23, 2020.
Toll-free replay number: 1-855-859-2056
International replay number: 1-404-537-3406
Replay ID: 7818277
About NewAge Beverages Corporation (NASDAQ: NBEV)
NewAge is a Colorado based healthy products company dedicated to inspiring and educating consumers to "Live Healthy." The Company is the only omni-channel distributed company with access to traditional retail, e-commerce, direct-to-consumer, and medical channels across 60 countries worldwide. NewAge markets a portfolio of better-for-you products including the brands Tahitian Noni, TeMana, Nestea, Volvic, Illy Coffee, Evian, Bucha Live Kombucha, and others. The Company operates the websites www.newage.com, www.nonibynewage.com, www.nestea.com, www.volvic.com, www.illy.com, www.evian.com, and a number of other individual brand websites.
NewAge 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.
This Coronavirus Pandemic Is Causing Both...EOM
TGOD Cannot Handle A Supply Chain Or Workforce_Shock--Poorly_Capitalized..EOM
Longs Take This As Comfort: In 4th Q 2019, TGOD ONLY Sold Approximately 84 kg from Ancaster. ONLY 84 kg! Imagine when TGOD actually starts to produce and sell 1,000's and 10's of 1,000's of kgs of product. Around May 15, 2020 we will get a small sense of possibilities when the 1st Q is reported. A truer picture will happen during the 2nd Q 2020 report (around August 15th) because at that point the entire Ancaster facility will have been 100% completed for that quarter (April, May and June).
TGOD is on Life Support, but the patient has a chance.