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Re: None

Wednesday, 05/11/2022 9:16:41 AM

Wednesday, May 11, 2022 9:16:41 AM

Post# of 2035
**NEWS** 1933 Industries and Day One Beverages Mutually Terminate Binding Letter of Intent

Mr. Paul Rosen, Chairman and CEO of 1933 Industries, stated, “Over the last number of months it became evident to both parties that Day One’s capital needs far exceeded modelled projections, and with that updated insight both parties concluded it was in their respective best interests to not complete the transaction. We wish them the best of luck as they progress on their business, and we look forward to continued collaboration between the companies including a continuation of our co-packing arrangement for our best-selling relief creams”.

Sounds like Day One may have underestimated their capital needs when negotiating the binding LOI with 1933. Paul seems to have negotiated a good deal where 1933 continues its CBD co-packing arrangement with Day One, and possibly retains 10% of Day One if repayment is not made on time. Maybe it's for the best if this was going to be a cash drain when Vegas is so close to profitability. If 1933 wants beverages they can make their own in-house in Vegas much cheaper than outsourced in California. I always liked the shot format. Less packaging :) glta

**NEWS** EXCLUSIVE: Play Ball! USA Pickleball And Day One Beverages Team Up, Launch Co-Branded CBD Recovery Cream

Posts are my opinion only, and not advice of any kind. glta