Seems to me they claimed to have a lot of beverage experience in sales and distribution... a combined 40+ years with major brands, such as: Sobe, Arizona Ice Tea, and Xyience... Their annuals have clearly indicated that they rely on outside professional advisors for assistance with management... in fact they recently upgraded their SEC Law Firm, CPAs, packaging, and bottling partnerships as well as established an Advisory Board... I'm excited to see who they partner with going forward as they begin national distribution... People complaining about their management experience may have unrealistic expectations of them given how honest they have been about that, or are misplacing the blame for those things that are the responsibility of the outsourced professionals...
"Toby McBride and Michael Jay Holley, our principal officers, have no significant experience managing a public company and no meaningful accounting or financial reporting education or experience and, accordingly, our ability to meet Exchange Act reporting requirements on a timely basis will be dependent to a significant degree upon others.
Messrs. McBride and Holley have no significant experience managing a public company and no meaningful financial reporting education or experience. They are and will be heavily dependent on engaging and dealing with outside professional advisors, primarily lawyers and financial advisors/accountants who are and will not be affiliated with our independent auditors. We have no formal arrangements with professionals and cannot provide any assurances that we will be able to establish arrangements with professionals on terms or costs that are acceptable or affordable to us."
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