Jammin Java Corp (JAMN)

[rhoyt]

From the latest 10-q (yesterday)

The litigation is ongoing with a March 2017 trial date now set. At this time, the litigation has not resulted in the Company being ordered to stop using the Trademarks. We are seeking damages and a full legal recognition of the validity of our license with 56 Hope Road as part of our counterclaims in the litigation.

Credit is still tight, although we have been able to structure a credit deal with National Coffee Roasters for our ground and whole bean products. We are also currently seeking additional funds to help with single serve capsule fulfillment.

Separately, we are developing a line of non-’Marley Coffee’ related products under the Jammin Java name, which we plan to distribute through our existing channels with a planned launch date of no later than February 2017. This line of products will feature premium coffee in a number of formats, including ground, whole bean, and Keurig®, Nespresso®, and Dolce Gusto® compatible single serve capsules.

We have already discussed our new brand with current and potential customers and have received positive feedback and commitments to order once we launch. These products will not require us to pay licensing fees. We anticipate beginning to generate revenues from these sales starting mid-February 2017.

We are also looking at a potential acquisition opportunities in the roasting and distribution space. We have built a robust distribution network with strong connections to our customers and their buyers over the past several years and we believe that we can succeed in growing another brand as we have done previously with ‘Marley Coffee’.

We need to raise additional cash in order to pay our expenses and repay our outstanding promissory notes and other liabilities. If we are unable to access additional capital moving forward, it will hurt our ability to maintain growth and possibly jeopardize our ability to maintain our current operations. We may not be able to increase sales, reduce expenses or obtain additional financing, if necessary, at a level to meet our current obligations to continue as a going concern.