Saturday, July 25, 2015 8:20:48 PM
$277,000 was from Marley Coffee Ltd.. That's a private company that Rohan owns. There is also Marley Coffee Canada, Marley Coffee UK, Marley Coffee Inc. - none of those are owned by JAMN. JAMN does supply a number of them with coffee, but each one is a separate company.
Private companies report revenues to the government, but not in public documents. You don't publish your 1040 publicly, right?
JAMN reported a certain amount of money ahead of the 10-K report; it's money that the company said that they had for revenues by selling coffee. But $277K of that money was actually sold by Rohan's private company - instead of selling beans to JAMN, then getting them roasted and ground by Mother Parkers, then shipped to the client, Marley Coffee Ltd. sold the coffee directly to a customer - it's revenue that could have gone to JAMN, but Rohan's company took it. Do you think Starbucks is the competition? Hardly.
Check out the history of the company. When it was starting to do coffee, Rohan actually leased his farm to JAMN, which was supposed to harvest the beans, etc. But then that lease was terminated and Rohan farms and harvests the beans with his own company.
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