As of January 31, 2009, DKAM had accrued roughly $500,000 of unpaid Accounts Receivable that has more than likely increased well above that number due to the credit crunch. The bashers have tried this trick before to question the games that LIQR Group is playing i.e. their recent 10Q filing.
It is also my understanding in effect, with no one here that can counter otherwise, that LIQR is deficient in their payments to DKAM for products that were shipped to them throughout 2008. In other words, you don't pay DKAM, you don't get product. As such, there is more than a good chance that the Accounts Receivable number that currently resides on the balance sheet for Drinks Americas is majority born to The Liquor Group for services(goods) rendered, provided, shipped and not paid.
There is every reason to suggest that PK would vigorously pursue this amount due them, and the shareholders of DKAM, legally and there is every evidence to suggest that has been done so legally. PK does not issue press releases to announce lawsuits against other companies that they have filed. That gives the offending and guilty a party to grandstand and a forum that they do not deserve. But, if you went back through the Q's from the past four years, you will find the company won or settled in their benefit 6 different lawsuits without losing a single one.
Therefore, I along with a majority of the retail shareholders have no choice but to believe that the filing from The Liquor Group today is a frivolous counter suit against DKAM in their own attempt to grandstand, as well as provide a libelous attack against Drinks for their own inability to pay their own vendors during the credit crunch.
Once again, Drinks will prevail as it always has and prove that "if you don't pay your bills, you simply will not be doing any further business with Drinks Americas."
