yes they Factor and have been for some time now. Why would that surprise you?? they make about 30% gross and give up about 30% in factoring. management are some sharp cats!!
SPEAKING OF CONVERTS, I THINK THIS QUOTE FROM RECENT 10Q MAY GET THEM IN HOT WATER SINCE IT ANTICIPATED NOT TO PAY NOTES..BET THE SEC MIGHT LOOK AT THIS AS A SYNDICATION RESALE
To finance current operations until the Company becomes “break-even and self-sustaining” the Company has taken on little or no new debt as management views convertible debt as a form of hybrid equity. Management does not plan to repay the convertible debt through cash flow from operations but will issue common stock in full settlement of those debts. Therefore, the Company receives cash and the repayment is done through conversion to debt and the discount to market is a non-cash expense.
Don't worry a real beverage company will possibly buy them out of BK auction.We all knew BS Lying Yates was going to kill this company, only took him 6 years not bad. The shareholders got slaughtered while he drew a salary for all that time.
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