CEO Matt Veal Address to Shareholders of Hangover Joe's $HJOE!
I know shareholders have been waiting for us to respond and we thank for your patience. We have worked to protect the company and shareholders and to avoid the gray market and this has been achieved.
Recently we were notified that our Company would be removed from trading on the Pink Sheets because we have not been filing current information with the SEC. Although in the last two years we have grown considerably in terms of sales, and revenue and we have added dealers all over the USA and distributors abroad, because the type of scale a growing company like ours needs, and the sizable legal funding in the cases with convertible lenders, we have not stayed current. We have grown our brands and revenue during this period. We believe with continued growth, and the continued success of our legal teams, we will generate the resources needed to meet these standards. We will continue to have our shareholders backs, as we did when we didn't do a reverse split. When we’ve told you something, we’ve always kept our word and we plan on doing this now. We have always said this is a long term plan and it continues to be. Management is committed to meeting the goals described above, and is planning to continue the necessary sacrifices needed as part of building the Company. We have been building this company and as stated above our revenue has grown dramatically over the last two years. We have shared lots of this in social media to keep investors updated. We remain confident that the Company will be highly successful. Once we have passed through some of the legal proceedings, we plan to come back and re-file and show the compelling story and revenue that is Hangover Joe's!
To quote one of our top investors, Gene Gilstrap, “I personally have invested in Hangover Joe's close to Five Hundred Thousand Dollars and I commend management and stand with them in their actions. I believe that they know what is best for my investment and for the investment of all shareholders and I look forward to the company coming back to the OTCB as there is a good plan to do this in the future and that will be achieved for all of us. Many companies that go dark are not real companies with real products and a real brand, but Hangover Joe's is and they are producing revenue and growing both domestically and internationally. I do not expect Hangover Joe’s to experience the problems other companies have had when returning to trading. I ask you to look at ITEX and you will see a company that was able to do what I believe Hangover Joe's will achieve.
Hangover Joe’s has excellent products and will continue to grow dealers and market share." We have dealers all over the country that are selling our brands and we just launched a new line of beef jerky that many of you have tried and know that it's top of the market. We have also reformulated a new shot for the South Korean market and it has passed the South Korean version of their FDA and will be moving this into the South Korean market. We also have a very large distributor in Europe that is working with us presently to bring our hangover shot and beef jerky into all of the EU and Ireland and the UK. We are in the process of doing what needs to be done in these countries to lead us to the success we are having in the USA market. International deals don't happen overnight as we have to go through the legal process in each country. We are working with our European distributor and in the future we hope to release a press release explaining this European distribution in detail.
I would like to assure our shareholders and believers, we have always had your best interest at heart. We will continue to communicate in social media and to give updates and also release press releases to communicate with our audience and fans. We have been in a war with some of what we believe are very bad actors for sometime, but our brand and company is much stronger than they are. We have been winning over the last two years generating revenue. They cannot stop that and won't and we won't stop building this brand both domestically and internationally, you can count on that. We have investors that believe in us and consumers and retailers that love our products and brand. Our new beef jerky line is selling very well and it's doing 3 to 1 turns in tests with retailers where it has been placed against leading brands. The jerky program is a winner and will grow and produce nice revenue for the company. This gourmet beef jerky reaches a large demographic and has very high turns in retail stores.
We will continue to take the fight to our detractors. We will continue to provide strong guidance and specifics as we move forward and we will file as we have told you once we are in the position that best serves shareholders and the best interest of the company. It is better to go dark at this time and we plan to come roaring back and show the compelling story and revenue this company has achieved and will continue to achieve. I hope that most of our long shareholders see the benefit of our decision and realize that we do have your best interest at heart and also ours. We look forward to continuing to move the company forward and our brands. Thanks for your faith in our company and we will endeavor to do the right thing for all concerned. As stated above, we will provide insight during this dark period. I want to state again, we plan to file a form 10 in the future and bring the company back onto the market.
We would like to explain today’s ruling from our perspective so our fans and shareholders know how they have been protected. This is a nice win for our shareholders at this time. We will continue to keep winning with dealers, retailers and consumers across the country and building this company and brand. We will continue to market aggressively both in the streets and via social media. We believe the risk of substantial dilution from convertible debt transactions has been substantially mitigated by this ruling.
Under form 15 we had filed to terminate our registration under Section 12(g). Had we had the ability under the form to elect to not allow broker dealers to execute trades under Section 12(j), we would have made that selection. The SEC, in this action went the additional step we had no capacity to do. We consider the revocation to be the practical equivalent of being granted our request to terminate our registration. In either case, all shareholdings are intact, and we would need to file a form 10 to re-register the shares to allow trading by a broker dealer at any time in the future. We of course have no argument, disagreement or even a different preference at this time with the actions of the SEC.
Matthew A. Veal, CEO
I know shareholders have been waiting for us to respond and we thank for your patience. We have worked to protect the company and shareholders and to avoid the gray market and this has been achieved.
Recently we were notified that our Company would be removed from trading on the Pink Sheets because we have not been filing current information with the SEC. Although in the last two years we have grown considerably in terms of sales, and revenue and we have added dealers all over the USA and distributors abroad, because the type of scale a growing company like ours needs, and the sizable legal funding in the cases with convertible lenders, we have not stayed current. We have grown our brands and revenue during this period. We believe with continued growth, and the continued success of our legal teams, we will generate the resources needed to meet these standards. We will continue to have our shareholders backs, as we did when we didn't do a reverse split. When we’ve told you something, we’ve always kept our word and we plan on doing this now. We have always said this is a long term plan and it continues to be. Management is committed to meeting the goals described above, and is planning to continue the necessary sacrifices needed as part of building the Company. We have been building this company and as stated above our revenue has grown dramatically over the last two years. We have shared lots of this in social media to keep investors updated. We remain confident that the Company will be highly successful. Once we have passed through some of the legal proceedings, we plan to come back and re-file and show the compelling story and revenue that is Hangover Joe's!
To quote one of our top investors, Gene Gilstrap, “I personally have invested in Hangover Joe's close to Five Hundred Thousand Dollars and I commend management and stand with them in their actions. I believe that they know what is best for my investment and for the investment of all shareholders and I look forward to the company coming back to the OTCB as there is a good plan to do this in the future and that will be achieved for all of us. Many companies that go dark are not real companies with real products and a real brand, but Hangover Joe's is and they are producing revenue and growing both domestically and internationally. I do not expect Hangover Joe’s to experience the problems other companies have had when returning to trading. I ask you to look at ITEX and you will see a company that was able to do what I believe Hangover Joe's will achieve.
Hangover Joe’s has excellent products and will continue to grow dealers and market share." We have dealers all over the country that are selling our brands and we just launched a new line of beef jerky that many of you have tried and know that it's top of the market. We have also reformulated a new shot for the South Korean market and it has passed the South Korean version of their FDA and will be moving this into the South Korean market. We also have a very large distributor in Europe that is working with us presently to bring our hangover shot and beef jerky into all of the EU and Ireland and the UK. We are in the process of doing what needs to be done in these countries to lead us to the success we are having in the USA market. International deals don't happen overnight as we have to go through the legal process in each country. We are working with our European distributor and in the future we hope to release a press release explaining this European distribution in detail.
I would like to assure our shareholders and believers, we have always had your best interest at heart. We will continue to communicate in social media and to give updates and also release press releases to communicate with our audience and fans. We have been in a war with some of what we believe are very bad actors for sometime, but our brand and company is much stronger than they are. We have been winning over the last two years generating revenue. They cannot stop that and won't and we won't stop building this brand both domestically and internationally, you can count on that. We have investors that believe in us and consumers and retailers that love our products and brand. Our new beef jerky line is selling very well and it's doing 3 to 1 turns in tests with retailers where it has been placed against leading brands. The jerky program is a winner and will grow and produce nice revenue for the company. This gourmet beef jerky reaches a large demographic and has very high turns in retail stores.
We will continue to take the fight to our detractors. We will continue to provide strong guidance and specifics as we move forward and we will file as we have told you once we are in the position that best serves shareholders and the best interest of the company. It is better to go dark at this time and we plan to come roaring back and show the compelling story and revenue this company has achieved and will continue to achieve. I hope that most of our long shareholders see the benefit of our decision and realize that we do have your best interest at heart and also ours. We look forward to continuing to move the company forward and our brands. Thanks for your faith in our company and we will endeavor to do the right thing for all concerned. As stated above, we will provide insight during this dark period. I want to state again, we plan to file a form 10 in the future and bring the company back onto the market.
We would like to explain today’s ruling from our perspective so our fans and shareholders know how they have been protected. This is a nice win for our shareholders at this time. We will continue to keep winning with dealers, retailers and consumers across the country and building this company and brand. We will continue to market aggressively both in the streets and via social media. We believe the risk of substantial dilution from convertible debt transactions has been substantially mitigated by this ruling.
Under form 15 we had filed to terminate our registration under Section 12(g). Had we had the ability under the form to elect to not allow broker dealers to execute trades under Section 12(j), we would have made that selection. The SEC, in this action went the additional step we had no capacity to do. We consider the revocation to be the practical equivalent of being granted our request to terminate our registration. In either case, all shareholdings are intact, and we would need to file a form 10 to re-register the shares to allow trading by a broker dealer at any time in the future. We of course have no argument, disagreement or even a different preference at this time with the actions of the SEC.
Matthew A. Veal, CEO
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