The beverage business is tough. This is the industry I work and have experience in. The products for pulse look pretty good but the projections they are putting out look to be difficult to achieve. They use Honest Tea as a reference but looking closer at that Coke got involved with a 40% stake when they were at roughly $23 million in Sales and paid $43 million. They bought out the rest when sales were up over $70 million. The Coca Cola distribution network was one of the keys to getting to those sales numbers.
Not saying they cannot be successful but they are really going to have to get wider distribution and most likely hit a mass retailer like Sams or Costco to see the type of numbers needed to justify a much higher market cap.
Typically you either need a lot of marketing money up front or a lot of time to grow a new brand. (Honest tea took almost 10 years before Cokes first partial buy out)
5 to 8 times EBIDTA is typical for market cap in the beverage industry. Need 7 million minimum in EBIDTA right now to support current market cap. Now that is for non- pink sheet companies so as we all know anything is possible in the pinks!
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