HFBG UPDATE!!!
Update to Balamidas exellent post on HFBG>>>>
Hall of Fame Beverages President Addresses Company's Future
Hall Of Fame Bev (PC) (USOTC:HFBG)
1 Month : June 2011 to July 2011
Hall of Fame Beverages, Inc. (PINKSHEETS: HFBG)
President's Letter to our Shareholders:
Dear Shareholders,
The era of irresponsibility is over. As the President and CEO of Hall of Fame Beverages, I am responsible to you, the shareholders. The buck stops here, and I will take ownership and responsibility for everything that happens inside this company. At Hall of Fame Beverages, we will no longer accept blaming others, unprofessional actions by our employees, or providing the public with unrealistic information. The lack of results and the excuses that have been a hallmark of this company for years are over. This company has failed its shareholders, and with that in mind, I would like to usher in a new era of transparency, and a new era of responsible corporate behavior.
When Larry Johnson approached me with the opportunity to take over Hall of Fame Beverages, I was made aware of the lack of ownership in publicly released statements, and the many accusations and finger pointing made by this company. It was then that I immediately began my own investigation and research into all of it. After months of conducting thorough due diligence, I have concluded we are ready to move forward.
Although I was not a part of Hall of Fame prior to now, as its President and CEO, I don't feel we can move forward and remove the dark cloud of uncertainty and irresponsibility without correcting the record. As we begin 3rd Quarter 2011, I will not disrespect long time shareholders by pretending we can erase or forget the past and this includes past press releases; instead, we will use it as a lesson and as a direction, we no longer want to travel.
I would first like to extend a sincere and heartfelt apology to The Stock House Group, our former IR firm. Accusations of non performance and illegal trading by the firm are without merit. I have found no evidence and after demanding proof, I have not been provided with anything whatsoever to warrant the malicious statements made inside and outside this company. The fact is that it was poor management, and uncontrollable dilution not The Stock House Group. We hope they can forgive the irresponsible behavior, and will appreciate our new direction and our look to the future.
We need to move this company forward and start to build a brand, create revenues and profits and bring each shareholder the value you have long expected. Larry has placed his trust in me and tasked me with this endeavor.
Our products are delicious, our sales team is increasing distribution channels, and we're pleased with our production partners, so I am satisfied that we're on track and improving in these areas. It is the corporation that needs an overhaul. We need to become more transparent by being more responsible with our numbers, information and our efficiency. Larry Johnson felt my experience would provide leadership where Hall of Fame has been deficient.
My background is in business banking, financing, and investing both nationally and globally. I have extensive experience with corporate leading and directing, and corporate marketing. I intend to fulfill my obligation to Larry Johnson, Hall of Fame and its shareholders with respect and integrity.
No, my background is not in the beverage industry; however, I am not afraid to ask for assistance in areas I may be unfamiliar. I will look to add strong industry leaders we can consult with, who will complement the consultants Larry already has in place (not Ross or Luciano). I have been entrusted by Larry to speak on his behalf as well as represent him, so expect me to act accordingly and grow this company and its products immediately.
I would like to address a few updates:
Company Structure: The Preferred A Shares control the ownership and voting within Hall of Fame. There are 30,000,000 Authorized Shares, and there were 5,000,000 shares Outstanding. At Larry's request, Calvin Ross issued the remaining 25,000,000 Authorized Preferred A Shares to JAG Food and Beverage Holdings, LLC. Ross and Giovanni Luciano signed over their combined 5,000,000 Preferred A Shares upon resignation to JAG Food and Beverage Holdings, LLC (2,500,000) and Brad Godfrey (2,500,000). It's been stated the remaining Preferred A Authorized Shares were not issued which is incorrect. All of the Preferred A Shares are issued and outstanding.
JAG Food and Beverage Holdings, LLC: 27,500,000 (92%)
Brad Godfrey: 2,500,000 (8%)
Haddon House: We have a great relationship with Haddon House who is a distinguished, reputable specialty foods distributor on the east coast. We intend to utilize Haddon House later in the year. Though we were unable to attend their show due to personal scheduling conflicts, we were able to cement our relationship with a meeting in their corporate offices.
Tone Products: Has completed our 1st production run of the Bag in a Box (BiB) which includes both regular and sugar free Grand Ma Ma's Sweet Southern Tea. Tone Products produced 6 pallets of the tea (4 Regular, 2 Sugar Free). There are 126 1.5 gallon BiB's per pallet. We'll be sending these pallets to US Foods, Allentown. We received a PO for our BIB's from US Foods, Allentown, to be placed into a number of restaurants which we will name upon receipt of the purchase order.
Tampa Bay CoPack: Will produce our second run of Grand Ma Ma's Sweet Southern Tea, during the first week of August. I will say that this is a smaller run than the company's first run, but most of this tea will be sent out immediately to be distributed, and we're planning our 3rd run.
Reverse Split: I can assure shareholders there will be no reverse split in 2011. I know shareholders need to hear this from each new company executive.
We have a number of exciting distribution and placement updates expected by early next week that we'll update next week.
Sincerely,
Jessica Gutierrez
President and CEO
Hall of Fame Beverages
Hall of Fame Beverages, Inc.
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