HJOE "You have to remember that the lawsuit was fo
Post# of 15187
Posted On: 12/07/2015 1:59:31 AM
HJOE "You have to remember that the lawsuit was for 144,000 bottles at a total cost of $64,000 - HJOE will be hard pressed to demonstrate that this caused the collapse of the company."
The $64,000 you mention is only for the amount of faulty product PLN manufactured that HJOE hadn't yet paid for which PLN then sued for. It has nothing to do with the much larger amount of faulty product PLN produced that had to be returned and/or destroyed that was already paid for. It's stated clearly in the SEC filings.
Net Sales
During the year ended December 31, 2012, the Company generated approximately $1,079,000 in net sales compared to $280,000 in net sales in the comparable period last year. The $799,000 or 285% increase from the comparable period last year was primarily due to higher sales volume from new distribution partners in the United States, Canada, and Australia added during 2012. Approximately $270,000 of this increase was due to initial sales order from our distribution partners in Canada and Australia during the third and fourth quarters of 2012, respectively.
Net Sales
During the year ended December 31, 2013, the Company generated approximately $265,000 in net sales compared to $1,079,000 in net sales during the comparable period last year. The Company’s sales substantially ceased beginning in the third quarter of 2013, which was triggered by a series of problems with Private Label (our co-packer) that resulted in litigation (see legal proceedings). Our counterclaim against Private Label alleges that we lost sales when the product our copacker delivered on our behalf, particularly to Australia, New Zealand, and Canada, but also to the United States, did not meet specifications and was returned or destroyed, eliminating reorders from many customers and new sales orders overall.
The $64,000 you mention is only for the amount of faulty product PLN manufactured that HJOE hadn't yet paid for which PLN then sued for. It has nothing to do with the much larger amount of faulty product PLN produced that had to be returned and/or destroyed that was already paid for. It's stated clearly in the SEC filings.
Net Sales
During the year ended December 31, 2012, the Company generated approximately $1,079,000 in net sales compared to $280,000 in net sales in the comparable period last year. The $799,000 or 285% increase from the comparable period last year was primarily due to higher sales volume from new distribution partners in the United States, Canada, and Australia added during 2012. Approximately $270,000 of this increase was due to initial sales order from our distribution partners in Canada and Australia during the third and fourth quarters of 2012, respectively.
Net Sales
During the year ended December 31, 2013, the Company generated approximately $265,000 in net sales compared to $1,079,000 in net sales during the comparable period last year. The Company’s sales substantially ceased beginning in the third quarter of 2013, which was triggered by a series of problems with Private Label (our co-packer) that resulted in litigation (see legal proceedings). Our counterclaim against Private Label alleges that we lost sales when the product our copacker delivered on our behalf, particularly to Australia, New Zealand, and Canada, but also to the United States, did not meet specifications and was returned or destroyed, eliminating reorders from many customers and new sales orders overall.
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