Hangover Joe's Holding Corp. (fka HJOE)

[james885]

Bad news. That's the previous company numbers who was a public company that hjoe merged into. Not from hjoe.

No the previous company never sold the hangover shot in Canada or Australia ( or anywhere else). And they never had a license agreement for it with Warner Brothers like HJOE did. Obviously the Audited financials for those years were for Hangover Joe's. LMAO

Aug 9, 2011 Hangover Joe's hangover recovery product, has inked an exclusive licensing agreement with Warner Bros. Consumer Products to manufacture and distribute The Hangover recovery shot.


Net Sales

During the year ended December 31, 2012, the Company generated approximately $1,079,000 in net sales compared to $280,000 in net sales in the comparable period last year. The $799,000 or 285% increase from the comparable period last year was primarily due to higher sales volume from new distribution partners in the United States, Canada, and Australia added during 2012. Approximately $270,000 of this increase was due to initial sales order from our distribution partners in Canada and Australia during the third and fourth quarters of 2012, respectively.

Cost of Goods Sold

Cost of goods sold, which includes product costs, packaging materials, and product royalties, increased $623,000 or 449% to $761,000 for the year ended December 31, 2012 as compared to $139,000 for the same period last year primarily due to higher sales volume described above. In addition, higher product royalty costs associated with the Warner Brothers license signed in July 2011 resulted in full year of royalty costs in 2012 as compared to approximately two months of royalty costs during 2011. Cost of goods sold was also higher in 2012 due to the write-off of approximately $75,000 of packaging materials due to a change in images under the Warner Brothers license. The Company anticipates that cost of goods sold will decline in 2013 due to reduction in the Warner Brother royalty rate and increased operational efficiencies associated with change in co-packers in March 2013.