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December 18, 2014 Shareholder Letter DNAX

http://www.dnaenergydrink.com/DNAenergy/index.php?option=com_content&view=category&layout=blog&id=57&Itemid=116

"SHAREHOLDER LETTER" - December 18, 2014

Shareholder Letter
December 18, 2014

Dear Shareholder,

It has been several months since the last shareholder update where we reported the condition of the Company and the problems we are facing. Although we can honestly say some progress rectifying those problems have been made there is still a long way to go. Listed below is a summary of some of our progress.




The filing of the Form 15 with the SEC and our decision to alternately file with the OTC has greatly reduced our accounting and legal expenses, as well as to free up time for management to address the business of the Company.

All other operating expenses have been cut to the bare minimum.

Salaries have been eliminated through the reduction of personnel.

Payment arrangements have been made with most vendors and creditors, who for the most part have been understanding and willing to work with the Company.

Convertible debt which we were forced to accept has also been greatly reduced and could be eliminated early in the first quarter of 2015.

Litigation continues against the parties responsible for causing such great harm to our Company.

Senior management has funded the remaining obligations up to this point but additional capital will be need for our survival and growth.

The Company has just received purchase orders to sell a large portion of its existing energy drink inventory, with shipping to take place late December with 30 day payment terms. Although the Company will experience a loss from the sale of this product the results will eliminate costly storage fees and the risk of the product becoming outdated. Proceeds of this sale will enable us to pay-down some debt and allow us to explore new production opportunities. Plans for 2015, include the reduction of energy drink flavors from 5 to 3 and the temporary halting of coffee production while we re-establish a strong distributor and broker network, or in the alternative attempt to license our award winning products to third parties.


On a more optimistic note, we would like to move forward with the development of a new and fully proprietary functional beverage which is not yet in the marketplace. We have received the support from a prominent member of the medical community to do a clinical study at little or no expense to the Company. If we are able to secure adequate funding, which is not a certainty, we can have this product ready for market in 6-8 months.

We welcome any and all constructive ideas and solutions.

Thank you for taking the time to review this update. We would like to wish you all a very happy and healthy holiday season and a Happy New Year.

Sincerely,
Melvin Leiner
President

-MR OBVIOUS original post!