Spoke to Phivida IR
Very professional. Nothing crazy to report, but here's what I got from my questions:
Acosta is the broker and has the 100k units in inventory. Their job is to get it placed onto shelves.
There should be some revenue from unitls placed in Q3 since they've had 2-3 weeks. Phivida should be able to provide some sales numbers in Q4 up to the Q3 release to give us an idea on sales up to that date.
Rough sale price of the water is $5.99. I said that's high, but he said that's about the price in California for functional high-end waters.
I asked if the hemp flavor is a deterrent and they feel the flavor profiles mask it very well and test market had no complaints. If you think about it, Kambucha and energy drinks are an acquired taste, but they think their beverage doens't need acquired taste.
I asked if they would PR when on shelves. They definitely want to update us around important tangible events, but want to avoid fluff and busy PRs that past management employed.
They are very excited about the new management's direction, and the fact that they've already accomplished the launch of a new beverage line with Red Bull. Acosta is the perfect partner for them with their experience in specialty brands.
I think we can estimate that Phivida will have sales of around $3/unit. If they can get all 100k units sold by end of year, $300k in revenues would be an awesome start. Hopefully they could follow up Q1 2019 with the full 150k unit order the PRd, and build from there.
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