Dear Shareholders,
This update is to inform you of some of the housekeeping items that are being worked on while we are working through this DTCC issue. The DTCC may be holding up some things from happening, but I have still been occupied with making the necessary changes Hall of Fame Beverages needs in order to rebuild, revitalize and grow into the future. We are still moving forward; nothing has or will be stopped.
I have been working on new labels with a professional company that provides labeling and advertising services for the food and beverage industry. They are currently designing several new labels to choose from, and I have separate industry professionals who will help me to decide which of the labels will be best suited to don our signature product. We have already chosen a new style of bottle, and these new bottles will be used in our next production run, which is currently in the planning stages. Once I know what label will be best, a time and day will be calendared, and it will be formally announced. Everything else is ready.
With regard to placement of the 2nd run, I was told and assured numerous times that the placement was done and we would move forward. I took our salesman at his word, and I have recently learned that he was not being forthright after I made the statement to our shareholders. Since then, we have re-placed the tea and it is currently pending movement to its final location, and we’re continuing negotiations with the chain supermarkets I was assured our tea was heading. Because of that issue, in addition to others, we have replaced our previous salesman and brought on two experienced and professional salesmen who are responsible for the re-placement. These two men have over 30 years experience in the food and beverage industry and are a great addition to the team we’re building. Their names will be annou nced, in addition to the locations where they’ve re-placed the tea formally.
With that being said, it was in the best interest for Hall of Fame Beverages and Dennis Donchez to part ways. We wish him well with his future ventures.
I have stated on several occasions that the changes needed and required to operate smoothly will not happen overnight. I am dealing with several years of mismanagement, neglect, and very poor choices – from basic company decisions, to the people who were chosen for positions who did not have the experience required to take Hall of Fame Beverages to the next level. I have been handed a company that was in complete disarray, and in total disorder. I knew this wouldn’t be easy from the beginning, but I never expected to be here today dealing with the DTCC as we were working diligently to move forward.
I am not in over my head, encumbered, or fatigued. I am building a solid team of proven and experienced professionals, as well as consultants – most of who are volunteers, not mercenaries. They bring an unbiased and unemotional approach to dealing with the day to day reconstruction of Hall of Fame. They continue to consult with me from the outside looking in based on well over 40 years of experience in this industry.
DTCC is crippling enough, but the continued speculation of this critical situation is unjust. I know there are several DTCC experts now, so, my email is available to anyone who feels that they know more than I do and feel they can do a better job quicker - I am all ears and open to suggestions. I do not have an answer as to why the DTCC is an issue now, and it was not before when the stock price was appreciating. I can only guess that when it was merely Penson brokers, it wasn’t seen as something that could spread to other brokers; however, when TDA joined that list, it hit a little too close to home and spooked buyers thinking their broker could be next. My only opinion is that there are so many companies with some type of “Chill” that it finally caught up to HFBG – but there isn’t a solid way of knowing e xactly. As it was first only a Penson issue. I could not have planned for this nor prevented it, but I continue to work through it every day.
Hall of Fame will continue on its path of redevelopment, and I will not be deterred from my mission of making it happen. I will not be intimidated or moved by anyone who feels that their consistent pressure or challenges will make anything happen sooner, or to provoke me do something that I am not ready to do. I have stated several times that I didn’t have to live through the past to learn from it. No one can tell me that after years of major misconduct that I have had sufficient time to fix, correct, rectify, and/or amend this company. I have been upfront and honest, and will continue to be so – I have nothing to hide nor do I need to utilize anything, or take advantage of any situation to hide behind. I have made myself available to anyone that takes the time to write in – some have, and I have answered. I can’t promise that it will be a favorable answer, but it will be an answer. I haven’t made any excuses, only provided solutions to the situations that I have inherited. Again, I do not have a magic wand, this will take time.
I would also like to announce that I received word today that Red Robin is now serving Grand Ma Ma’s Sweet Southern Tea in 4 more of its restaurants. Please refer to the locations page on the Investor’s Portal for the names as they will be updated. There are now a total of 8 locations serving our tea. All 19 Leigh Valley Restaurant Group Red Robin locations will be equipped with updated labels, displaying Grand Ma Ma’s Sweet Southern Tea.
I would like to thank everyone for the support given to me, and the patience while we work through these frustrating times. The encouragement helps in many ways, and I am grateful for it and to all the investors who support my vision and see the big picture.
Kindest Regards,
Jessica Gutierrez
CEO, President
Hall of Fame Beverages, Inc
