UGLY! Sales were cut in half, higher than expected losses, Yates not even close on his March 7 letter. The vaunted coconut water was down. All the drops in sales must be from lack of reorders and failure to penetrate stores, don't even see the usuL hope Yates pikes out about moving forward. Interesting how materials in hand dropped and losses skyrockets. Gross Margins dropped when Yates said would go up in March 7 letter. Just more ammo for prosecutors. Even I had them at 495 in sales going off why the company said and I said assume and some gave me the "assume" BS. I said 495k rev give or take 50k and in all terms it was disastrous. A tid bid in Q also has Yates say should be status quo for the year.. WTF! No increase in sales, margin, def not break even EBIDTA. And check out how little is left in cash!!! They even used up 25% of their inventory, which is most likely the bottles, Huge dilution is a coming. Cash flow positive my ass! If he revamped distribution and this was the qtr to finally see the effects, well it sure as heck didn't happen. How on earth will pumpers spin this abortion of a report??
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