No problem shot. I think I made some headway into getting some info out of NL. As of right now, we have tea in the warehouse and tea on some shelves. To cut cost and reorganize the company, we are not currently manufacturing NL tea. I dont know how much is currently in the warehouse. Or what kind of revenue the tea on the shelves is bringing in. Hopefully that is cleared up whenever the unaudited financials come out.
NL is not giving up on the NL tea product. It is simply creating a distribution network that will reduce the overall overhead in trying to get the product out to the masses.
Beverage Networks of Maryland our acquisition in April has been in business for over twenty years. I am assuming the vast majority of our revenue is coming from them.
Another thing DF mentioned was with the aq of Bev Net, it was guaranteed revenue. We have hundreds of revolving accounts producing revenue instead of hoping X number of NL was bought this week to try and keep us a float.
When i got off the phone with DF he was headed to a meeting with former CEO eric skae. I am not sure what Eric's position in the company is except I am guessing he is still a major shareholder and possibly on the BOD.
The manufacturing of NL tea at this time is not a priority. I do believe once a pipeline is created to distribute the product at cheaper levels we will see a rebranding of NL tea. This should include plastic bottles and the ability to manufacture the actual tea without outsourcing. The product is amazing, it came on shelves hard and fast and they over reached. This created massive amounts of debt. I believe it was the last 10q but you can already see the DF has changed the financial structure of the company. We were not losing massive amounts of money and shareholder equity increased.
DF will right the ship. It make take a while and continue to frustrate most of us that bought well above a penny, but this is not a one trick pony retail company anymore.
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