...in the "Battle of Press Releases", the winner is :...
...Liquor Group Files Breach Of Contract Claims Against Drinks Americas
Wednesday 07/01/2009 3:33 PM ET - Businesswire
Related Companies
Symbol Last %Chg
DKAM 0.136 -7.80%
LIQR 0.30 -6.25%
As of 3:41 PM ET 7/2/09
Liquor Group Wholesale, Inc. (OTCBB:LIQR) filed claims exceeding $1,000,000.00 of damages against Drinks Americas Holdings, LTD. (OTCBB:DKAM).
Liquor Group commenced representation of Drinks Americas Michigan, which was swiftly amended to include Florida and Sixteen (16) additional states (all NABCA.org listed Control States except MS) of exclusive representation of brands marketed by Drinks Americas including: Trump Vodka & Trump Flavored Vodkas, Willie Nelson's Old Whisky River Bourbon, Damiana Liqueur, Bo Dietl's Casa BoMargo Wines, Cohete Rum & Agulla Tequila and other Drinks Products as they become available. These agreements utilize Liquor Group's patent pending Bailment method for the sale of alcohol products to the state level.
On or about December 19, 2008, Liquor Group notified Drinks Americas of their alleged numerous contract violations, including but not limited to overdue marketing funding and insufficient inventory to fill customer orders in excess of $300,000.00. Drinks Americas was given six months to bring their accounts current with Liquor Group and to revise the marketing agreements at this time, however no action was taken on their part to rectify the deficiencies.
Currently more than $830,000.00 of back-orders generated by Liquor Group remained unfilled by Drinks Americas.
About Liquor Group Wholesale
Liquor Group Wholesale (OTCBB:LIQR) is an emerging liquor and wine distribution company representing more than 1700 spirits and wine products with varying degrees of operations in 31 US States. More information available at www.LiquorGroup.com.
Safe Harbor
Except for the historical information contained herein, the matters set forth in this press release, including the description of the company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.
SOURCE: Liquor Group Wholesale
Liquor Group Wholesale
Jason Bandy, 904-285-5885
...not surprising, I guess, based on their recent history of "overwhelming" underperformance and their inability to take advantage of available opportunity(ies)...Duke...
AI
