Posted On: 09/15/2016 3:16:37 PM
Post# of 44881
TBEV The Walmart meeting is currently set for October 05, 2016 at Walmart's corporate headquarters in Bentonville, AK and will include executive buyers from WALMEX and U.S. representatives. Any distribution into Mexico will be handled by Pro Prom, High Performance Beverages Licensee for Mexico, Central & South America. The Company also expects to start preliminary discussions on North American distribution in Sam's Clubs which has been initiated by Joey Girardin of Girardin International Marketing and Consulting Group.
Toby McBride, High Performance Beverage CEO, stated, "We are extremely grateful for the work that has been done by both Pro Prom and Girardin International Marketing and Consulting Group for the meetings set up with Walmart executives. While optimistic, we realize that with fast potential growth come many challenges that will need to be addressed. With that in mind, I would like to briefly address the Company's recent decision to increase its authorized shares. While we understand our shareholders concern, the increase is not necessarily reflective of the Company's intent to dramatically increase its outstanding shares. Rather, we felt it necessary to be proactive and prepared in the event of our decision to utilize our previously announced $5 million credit facility. Should that become necessary, it would be related to significant progress with our operations, inventory controls, distribution and sales. We would view that as a significant positive for our company. Our only other alternative would have been to do a reverse split in order to create reserve shares and that was not an option. We are hopeful that eventual royalties from sales through Pro Prom will allow us to eliminate our remaining notes, fuel growth and procure more conventional forms of financing. Taking this proactive approach is our best option to ensure our abilities to meet potential supply and demand needs. Additionally, unlike a stock split that is irreversible, we can always modify and reduce our authorized shares at a later date." http://finance.yahoo.com/news/high-performanc...00561.html
Toby McBride, High Performance Beverage CEO, stated, "We are extremely grateful for the work that has been done by both Pro Prom and Girardin International Marketing and Consulting Group for the meetings set up with Walmart executives. While optimistic, we realize that with fast potential growth come many challenges that will need to be addressed. With that in mind, I would like to briefly address the Company's recent decision to increase its authorized shares. While we understand our shareholders concern, the increase is not necessarily reflective of the Company's intent to dramatically increase its outstanding shares. Rather, we felt it necessary to be proactive and prepared in the event of our decision to utilize our previously announced $5 million credit facility. Should that become necessary, it would be related to significant progress with our operations, inventory controls, distribution and sales. We would view that as a significant positive for our company. Our only other alternative would have been to do a reverse split in order to create reserve shares and that was not an option. We are hopeful that eventual royalties from sales through Pro Prom will allow us to eliminate our remaining notes, fuel growth and procure more conventional forms of financing. Taking this proactive approach is our best option to ensure our abilities to meet potential supply and demand needs. Additionally, unlike a stock split that is irreversible, we can always modify and reduce our authorized shares at a later date." http://finance.yahoo.com/news/high-performanc...00561.html
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