NewAge Inc (fka NBEVQ) (NBEVQ)

[Run4Cover]

Disastrous results and CC. Incredibly misleading and amateurish press release (gloating about acquisition revenue compared to base business as “highest Q1 sales ever”. ) Really? Who falls for this ? And how does this Board of Directors allow and approve a press release like this ? Comparing January only vs prior year full quarter etc. Etc. And , of course , no financing agreement . No wonder these horror show results were released “after market close”.
And the usual distraction by trying to shift the focus to tiny , niche segments with “potential” years away.
“Don’t look over here , look at this shiny object over there “!
Lack of transparency coupled with a complete screwup from not managing cash flow , inventory , capital etc. This is worse than amateur hour.
Credibility = 0
Expecting huge (40 % ) drop tomorrow. If not more