7000% Increase Hangover Joes Holding Corporation (HJOE) Releases Third Quarter Financial Results Highlighting Over 7000% Increase in Net Sales MacReport Media "Press Releases"
DENVER, CO , United States , via ETELIGIS INC., 11/20/2014 - - Hangover Joe's Holding Corporation . (OTC Pink: HJOE) (PINKSHEETS: HJOE), The maker of "The Hangover Recovery Shot and developers of an innovative state of the art proprietary Git-R-Done-Energy Shot with Git- R-Done Productions, Inc. and Larry the Cable Guy released its 10-Q for the third quarter 2014. While the Company showed losses at similar rates to the historic norm, the company is pleased to announce it has the sales cycle to retailers back on track which is a huge step in the process of bringing the company to success. With continued improvement in this arena, this gives the company more tools to solve its remaining challenges. 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 . This includes test markets from which we
are seeing encouraging results and in some cases from larger chains. The company reports it is receiving reorders from older customers as well as newer customers and has achieved a healthy geographic spread for its products as the brand building process is underway.
I, for one, am very pleased with the 7000 plus percent increase in net sales for this quarter in comparison with the last quarter this year ending June, 30, 2014, said Matthew Veal , CEO. Of course there are areas for further improvement, but this confirms to us and hopefully to our shareholders, that we have products people will buy and will continue to buy. This is just the start for us.
The Git-R-Done-Energy Shot is now out in Canada with Jimmy Zee , our Canadian distributor who sells into over 5K stores in Canada . Mr. Zee reordered product from us this quarter and reports the product is selling very well in Canada . Our plan is to launch the brand nationwide in Canada in 2015 and already some of Canadas larger chains have expressed serious interest into carrying Git-R-Done Energy in 2015. We have also had some of Americas largest retail chains come to us for consideration into their 2015 Planograms said Shawn Adamson Co-Founder of Hangover Joe's and head of marketing and sales. We are getting a lot of interest from many different sectors of the market, from convenience stores to grocery stores and also from other retailers that carry health and beauty products. This is a brand that is very functional and has huge appeal to both retailers and consumers. Its also exciting to be able to report that some of the nations largest retailers have asked us for samples of other flavors which are in development right now for their consideration along with our core product in 2015. We received positive data during our test marketing during our soft launch and had positive data to provide to retailers that requested this information. Git-R-Done Energy is a new brand and is performing very well for a new product just introduced to the market. We are extremely excited about where this product can go and deeply appreciate Larry The Cable Guy for his proactive involvement in helping promote and move the brand forward.
About Hangover Joe's Holding Corporation
Hangover Joe's is the exclusive producer of "The Hangover" Recovery Shot, and one of the nation's top selling anti-hangover recover drink & hangover recovery shot. Git-R-Done-Energy is an officially licensed product of Git- R-Done Productions, Inc and Larry the Cable Guy and is a healthy energy drink. Visit our website at
and
www.facebook.com/GitRDoneEnergy www.facebook.com/hangoverrecovery and on twitter @GitRDoneEnergy. @TheHangoverShot
On July 25, 2012 , Hangover Joe's became a publicly traded company and is trading on the OTCBB as HJOE. For more information, visit
, or check us out on Facebook and YouTube.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements." Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things, the Company's expectations regarding the development of marketing and sales relations nationally. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing new products and operating as a development stage company, our ability to raise the additional funding we will need to continue to pursue our business and product development plans, competition in the industry in which we operate and market conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States . Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC , available at
.
CONTACT:
Hangover Joe's Inc
Ph. 501-553-3796
SOURCE: Hangover Joe's Inc
