moneygirl, that PR link is very comforting. Nice r
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Posted On: 02/16/2017 10:22:30 AM
moneygirl, that PR link is very comforting. Nice reiteration of what was in the 10K, on the upcoming deal and why financials were down:
"Welch added, “The Company recently posted its second quarter financial results. Of note to our investors, when financial statements are reviewed, the second quarter of fiscal year 2017 posted significantly less revenue than the same period in fiscal 2016. The reduction in sales was caused by our management team’s focus on closing the purchase of the Series A control block by LSW Holdings, LLC, the lack of inventory of our more popular flavors to sell during the second quarter, and a restructuring of our brokerage agreements with outside brokers, causing the Company to terminate unprofitable brokerage relationships. The transfer of the Series A Control Block from Mr. Grisaffi to LSW Holdings is scheduled to be completed by February 28, 2017 and we expect a bright future together.”
"Welch added, “The Company recently posted its second quarter financial results. Of note to our investors, when financial statements are reviewed, the second quarter of fiscal year 2017 posted significantly less revenue than the same period in fiscal 2016. The reduction in sales was caused by our management team’s focus on closing the purchase of the Series A control block by LSW Holdings, LLC, the lack of inventory of our more popular flavors to sell during the second quarter, and a restructuring of our brokerage agreements with outside brokers, causing the Company to terminate unprofitable brokerage relationships. The transfer of the Series A Control Block from Mr. Grisaffi to LSW Holdings is scheduled to be completed by February 28, 2017 and we expect a bright future together.”
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