Replies to post #27908 on Attitude Drinks Inc. (fka ATTD)

[BigBake1]

He cannot confirm anything because it has to be publicly disclosed first if they have decided to do so or not or even if they have been discussing it, so you were not going to get a direct answer to your question. Straight from the 10K:

In addition, the undersigned subscribers waived the Company’s reservation obligation to the extent such requirement is in excess of 100% required reservation of shares for conversion of principal and interest of the notes until such time as the Company either increases its authorized shares or effectuates a reverse split of its common stock but in any event no later than June 1, 2012. For purposes of clarification commencing June 2, 2012, the Company is required to have a number of shares of common stock equal to 150% of the amount of common stock to all Subscribers to be able to convert all of the notes (including interest that would accrue therein) through the Maturity Date and 100% of the amount of warrant shares issuable upon exercise of the warrants.

[DD2Gain]

BigBake has provided some very sound numbers to consider. Furthermore, I received a phone call back from Stephanie at Wildcat Nutrition regarding restock of Phase III. Turns out the distributor has dropped Phase III. While that in itself is not necessarily a concern for me I was very bothered when Stephanie explained that the distributor was providing a different RTD that is the "first on the market based on real milk." If ATTD hasn't been marketing their product hard enough for either the retailer or distributor to know that Phase III is based on real milk, then I have little reason to believe there aren't others. The product is excellent, but it seems management has dropped the ball. ATTD is probably going to become a flipper's playground soon, but as far as an kind of long term investment it's looking pretty pointless. If anyone else has some good info to counter this I'd certainly like to hear it.