Replies to post #63639 on High Performance Beverages Comp. (TBEV)

[DuoVladimir]

Follower count on social media has been steadily increasing. Keep up the good work spreading the word guys!

[ttattletell]

RE Hansmire v High Performance Beverages, if the case was filed on June 30, 2014 in US Texas Eastern District Court, why wasn't it disclosed until 2/23/15 in the 10Q?



Page 22

Item 1. Legal Proceedings

Pending and Threatened Litigation

There is a civil action pending in the United States District Court for the Eastern District of Texas titled Hansmire et al. v. High Performance Beverage Company et al., 4:14-cv-00434-ALM. The Plaintiffs seek damages in the amount between $4,814,500 and $25,000,0000 arising from the alleged breach of a term sheet for certain marketing services. Plaintiffs assert their claims based on the legal theories of breach of contract and fraud. On February 2, 2015, the Court dismissed portions of the Complaint on the basis of Plaintiff’s lack of legal standing to bring an action based on those portions of the Complaint. The Company answered the remaining allegation in the Complaint on February 17, 2015, and imposed counterclaims. The Company and Plaintiff are now engaged in discovery.
http://www.sec.gov/Archives/edgar/data/1504222/000121390015001305/f10q1014_highperformance.htm

Why was it NOT disclosed in any of the filings from 7/2/14 through 2/22/15?

The 1/23/15 10K clearly states (Page 10):

Item 3. LEGAL PROCEEDINGS

We are not a party to any pending or, to our knowledge, threatened litigation of any type.
http://www.sec.gov/Archives/edgar/data/1504222/000121390015000500/f10k2014_highperformance.htm