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Bravo! Foods International Reports Record Third Quarter Revenues
NORTH PALM BEACH, Fla., Nov. 14 /PRNewswire-FirstCall/ -- Bravo! Foods International Corp. (OTC Bulletin Board: BRVO), a brand development and marketing company that manufactures, promotes and distributes vitamin- fortified, flavored milks, is pleased to announce results for the three and nine-month periods ended September 30, 2005.
For the third quarter, total revenue grew sharply to $3,245,305, up 293% over $825,430 reported for the same period in 2004. Loss from operations for the quarter was $(1,833,287).
Bravo! reported a net loss applicable to common shareholders for the third quarter 2005 of $(4,994,496) or $(.04) per diluted share, versus a reported loss applicable to common shareholders of $(1,218,164) or $(.03) per share reported for the third quarter of 2004. The Company's reported net loss was substantially impacted by a one-time non-recurring finder's fee, relating to the Company's Master Distribution Agreement with Coca-Cola Enterprises, in the amount of $3,000,000, incurred during the period ended September 30, 2005.
Bravo! CEO Roy Warren said, "We are pleased with the results of operations for the third quarter of 2005, with substantial growth in revenue recognized during the period prior to our first shipments under the Master Distribution Agreement with the nation's leading beverage distributor, Coca-Cola Enterprises (CCE)."
Warren continued, "Our outlook remains positive for the full year 2005, as we benefit from full-scale, nationwide distribution and realize sales growth as a result of the Master Distribution Agreement with CCE and launch of our new Breakfast Blenders(TM) at 7-Elevens nationwide. We are aggressively pursuing the necessary drivers to sustain momentum over the next few months, including enhanced production capabilities to meet expected demand, and nationwide sales and marketing efforts."
For the nine-month period ended September 30, 2005, total revenue grew to $6,591,693, up from $2,704,992 for the same period last year, an increase of 144%. Net losses applicable to common shareholders for the nine-month period increased from $(3,173,591), or $(.08) per diluted share, reported in 2004 to $(7,748,732), or $(.09) per diluted share, for the nine months ended September 30, 2005.
A recording of the call will be available until November 15, 2005 at 11:59 p.m. To hear this recording, dial 877-660-6853 (International: 201-612-7415); enter account number 286; conference identification number 177233.
About Bravo! Foods
Bravo! Foods International Corp. (OTC Bulletin Board: BRVO) develops, brands, markets, distributes and sells nutritious, flavored milk products throughout the 50 United States, Mexico, Great Britain and various Middle Eastern countries. Bravo!'s products are available in the United States and internationally through production agreements with regional aseptic milk processors and are currently sold under the brand name Slammers(R).
Many of Bravo! Foods' Slammers(R) line of extended shelf-life, single- serve milk drinks are co-branded through exclusive partnerships with Masterfoods, a division of Mars Incorporated, Marvel Entertainment and MD Enterprises (Moon Pie(R)), providing superior name recognition packaged with quality, great-tasting drinks.
Slammers(R) are now available at more than 30,000 stores nationwide, including such popular chains as: 7-Eleven, A&P, Associated Grocers, Bi-Lo, Bruno's, C/S Metro, Dutch Farms, Giant Food Stores, Jewel, Mars, Pathmark, Piggly Wiggly, Ralphs, Safeway, Sam's Club, Shaw's, ShopRite, Speedway, SuperTarget, Unified, Waldbaums, Walgreens and White Rose.
Contact: Roy Warren, CEO Bravo! Foods, 561-625-1411 or James Dryer, Investor Relations, 561-837-8057 or Jamie*otcfn.com.
Safe Harbor under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission.
ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS - NINE MONTHS ENDED SEPTEMBER 30, 2005 FORWARD-LOOKING STATEMENTS
Statements that are not historical facts, including statements about the Company's prospects and strategies and the Company's expectations about growth contained in this report are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements represent the present expectations or beliefs concerning future events. The Company cautions that such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among other things, the uncertainty as to the Company's future profitability; the uncertainty as to whether the Company's new business model can be implemented successfully; the accuracy of the Company's performance projections; and the Company's ability to obtain financing on acceptable terms to finance the Company's operations until profitability.
OVERVIEW
The Company's business model includes the development and marketing of a Company owned Slammers(R) trademarked brand, the obtaining of license rights from third party holders of intellectual property rights to other trademarked brands, logos and characters and the granting of production and marketing rights to processor dairies to produce branded flavored milk. The Company generates revenue in its international (non-US) business through the sale of "kits" to these dairies. The price of the "kits" consists of an invoiced price for a fixed amount of flavor ingredients per kit used to produce the flavored milk and a fee charged to the dairy processors for the production, promotion and sales rights for the branded flavored milk. In the United States, the Company generates revenue from the unit sales of finished branded flavored milks to retail consumer outlets.
The Company's new product introduction and growth expansion continues to be expensive, and the Company reported a net loss of $7,386,564 for the nine-month period ended September 30, 2005. As shown in the accompanying financial statements, the Company has suffered operating losses and negative cash flows from operations since inception and at September 30, 2005 has an accumulated deficit of $41,386,594, and negative working capital of $4,105,854. These conditions give rise to substantial doubt about the Company's ability to continue as a going concern. As discussed herein, the Company has executed a ten year exclusive Master Distribution Agreement with Coca-Cola Enterprises Inc., the implementation of which commenced November 1, 2005, is working toward profitability in the Company's U.S. and international business and will obtain additional financing. While there is no assurance that funding will be available or that the Company will be able to improve the Company's operating results, the Company is continuing to seek equity and/or debt financing.
18 No assurances can be given, however, that management will be successful in carrying out the Company's plans.
CORPORATE GOVERNANCE
The Board of Directors
The Company's board has positions for seven directors that are elected as Class A or Class B directors at alternate annual meetings of the Company's shareholders. Six of the seven current directors of the Company's board are independent. The Company's Chairman and Chief Executive Officer are separate. The board meets regularly, at least four times a year, and all directors have access to the information necessary to enable them to discharge their duties. The board, as a whole, and the audit committee in particular, reviews the Company's financial condition and performance on an estimated vs. actual basis and financial projections as a regular agenda item at scheduled periodic board meetings, based upon separate reports submitted by the Company's Chief Executive Officer and Chief Accounting Officer. Directors are elected by the Company's shareholders after nomination by the board or are appointed by the board when a vacancy arises prior to an election. The Company has adopted a nomination procedure based upon a rotating nomination committee made up of those members of the director class not up for election. The board presently is examining whether this procedure, as well as the make up of the audit and compensation committees, should be the subject of an amendment to the by-laws.
Audit Committee
The Company's audit committee is composed of three independent directors and functions to assist the board in overseeing the Company's accounting and reporting practices. The Company's financial information is booked in house by the office of the Company's Chief Accounting Officer, from which the Company prepares financial reports. These financial reports are audited or reviewed by Lazar Levine & Felix LLP, independent registered certified accountants and auditors. The Company's CAO reviews the preliminary financial and non-financial information prepared in house with the Company's General Counsel and the auditors. The committee reviews the preparation of the Company's audited and unaudited periodic financial reporting and internal control reports prepared by the Company's CAO. The committee reviews significant changes in accounting policies and addresses issues and recommendations presented by the Company's auditors. Currently, there is one vacancy on the audit committee.
Compensation Committee
The Company's compensation committee is composed of three independent directors who review the compensation structure and policies concerning executive compensation. The committee develops proposals and recommendations for executive compensation and presents those recommendations to the full board for consideration. The committee periodically reviews the performance of the Company's other members of management and the recommendations of the Chief Executive Officer with respect to the compensation of those individuals. Given the size of the Company, all such employment contracts are periodically reviewed by the board. The board must approve all compensation packages that involve the issuance of the Company's stock or stock options.
19 Nominating Committee
The nominating committee was established in the second quarter 2002 and consists of those members of the director Class not up for election. The committee is charged with determining those individuals who will be presented to the shareholders for election at the next scheduled annual meeting. The full board fills any mid term vacancies by appointment.
CRITICAL ACCOUNTING POLICIES
Estimates
This discussion and analysis of the Company's consolidated financial condition and results of operations are based on the Company's consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires the Company to make estimates and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, the Company evaluates the Company's estimates, including those related to reserves for bad debts and valuation allowance for deferred tax assets. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable under the circumstances, the result of which forms the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ materially from these estimates under different assumptions or conditions. The Company's use of estimates, however, is quite limited as the Company has adequate time to process and record actual results from operations.
Revenue recognition
United States
The Company recognizes revenue in the United States at the gross amount of its invoices for the sale of finished product to wholesale buyers ("unit sales"). The Company takes title to its branded flavored milks when they are shipped by the Company's third party processors and recognize as revenue the gross wholesale price charged to the Company's wholesale customers. The Company's gross margin is determined by the reported wholesale price less the cost charged by Jasper Products, the Company's third party processor, to produce the branded milk products.
In certain circumstances in its U.S. business, the Company is required to pay slotting fees, give promotional discounts or make marketing allowances in order to secure wholesale customers. These payments, discounts and allowances reduce the Company's reported revenue in accordance with the guidelines set forth in EITF 01-9 and SEC Staff Accounting Bulletin No. 104.
20 International Sales
The Company generally recognizes revenue in its international business at the gross amount of its invoices for the sale of kits ("kit sales") at the time of shipment of flavor ingredients to processor dairies with which the Company has production contracts for extended shelf life and aseptic long life milk. A "kit" consists of flavor ingredients and the grant of production rights for the Company's branded products. The Company bases this recognition on its role as the principal in these transactions, its discretion in establishing kit sale prices (including the price of flavor ingredients and production right fees), its development and refinement of flavors and flavor modifications, its discretion in supplier selection and its credit risk to pay for ingredients if processors do not pay ingredient suppliers. The revenue generated by the production contracts under this model consists of the cost of the processors' purchase of flavor ingredients and fees charged by the Company to the processors for production rights. The Company formulates the price of production rights to cover the Company's intellectual property licenses, which varies by licensor as a percentage of the total cost of a kit sold to the processor dairy under the production agreement. The Company recognizes revenue on the gross amount of "kit" invoices to the dairy processors and simultaneously records as cost of goods sold the cost of flavor ingredients paid by the processor dairies to ingredients supplier. The recognition of revenue generated from the sale of production rights associated with the flavor ingredients is complete upon shipment of the ingredients to the processor, given the short utilization cycle of the ingredients shipped.
Pursuant to EITF 99-19, international sales of kits made directly to customers by the Company are reflected in the statements of operations on a gross basis, whereby the total amount billed to the customer is recognized as revenue.
In certain circumstances, such as in the United Kingdom and as anticipated in Canada, the Company recognizes revenue under the unit sales model.
RESULTS OF OPERATIONS
Financial Condition at September 30, 2005
As of September 30, 2005, we had an accumulated deficit of $41,485,761, cash on hand of $553,857 and reported total capital surplus of $7,544,377.
For this same period of time, we had revenue of $6,591,693 and general and administrative expense of $2,345,041.
After interest expenses of $293,415, cost of goods sold of $4,719,011, product development costs of $194,955 and selling expenses of $3,525,002 incurred in the operations of the Company, we had a net loss of $7,485,371. Of this net loss amount, $3,000,000 has been recorded in the quarter ending September 30, 2005 as a one time, non-recurring finder's fee payable to a third-party in connection with the execution of the Master Distribution Agreement with Coca-Cola Enterprises, Inc.
21 Nine Months Ended September 30, 2005 Compared to the Nine Months Ended September 30, 2004
Consolidated Revenue
We had revenues for the nine months ended September 30, 2005 of $6,591,693, with cost of sales of $4,719,011, resulting in a gross margin of $1,872,682. This revenue and resultant gross margin are net of slotting fees, promotional discounts and marketing allowances for this period in the amount of $330,699. Of the reported revenue, U.S. sales accounted for $6,269,747, with $288,596 from UK unit sales and an additional $33,350 from international kit sales in the Middle East. We did not have revenue in this period in Canada or Mexico. Our reported revenue for the nine months ended September 30, 2005 increased by $3,886,701, a 143.69% increase compared to revenue of $2,704,992 for the same period in 2004. This increase is the result of the Company's development of new branded product lines in the United States, including the 2005 launch of our Slammers(R) line of Mars' Starburst, MilkyWay and 3 Musketeers flavored milk drinks. Our launch of Mars Slammers(R) line in the first quarter 2005 achieved market penetration in over 30,000 grocery and convenience stores for this line by September 30, 2005.
Consolidated Cost of Sales
We incurred cost of goods sold of $4,719,011 for the nine months ended September 30, 2005, $4,506,616 of which was incurred in our U.S. business, $209,782 in connection with our UK operation and $2,613 in connection with our international sales in the Middle East. Cost of goods sold in this period increased by $2,825,177 a 149.18% increase compared to $1,893,834 for the same period in 2004. The increase in cost of goods sold reflects an increase in sales, the concomitant increase in reported cost of goods sold associated with that increase and the economic inefficiencies of low production volume associated with the initial launch of the Slammers(R) line in the UK.
In countries except the United States and the United Kingdom, our revenue is generated by the sale of kits to dairy processors. Each kit consists of flavor ingredients for flavored milks and production rights to manufacture and sell the milks. In line with our revenue recognition policies, we recognize the full invoiced kit price as revenue, less the cost of production charged by the processor, which we record as cost of goods sold.
In the United States and the United Kingdom, we are responsible for the sale of finished Slammers(R) flavored milk (referred to as "unit sales") to retail outlets. For these unit sales, we recognize as revenue the invoiced wholesale prices that we charge to the retail outlets that purchase the Slammers(R) flavored milks. We report as cost of goods sold the price charged to the Company by third party processors that produce the finished Slammers(R) products.
Segmented Revenues and Costs of Sales
The following table presents revenue by source and type against costs of goods sold, as well as combined gross revenues and gross margins. In countries other than the United States
22 and the United Kingdom , revenues for the period ended September 30 2005 were generated by kit sales to third party processors. The Company's revenue from the sale of finished product to retail outlets is recorded as "unit sales" on the following table.
Nine Months Ended United Total September 30, 2005 United States Mexico Middle East Kingdom Company ------------------ ------------- ------ ----------- ------- -------
Nine Months Ended United Total September 30, 2004 United States Mexico Middle East Kingdom Company ------------------ ------------- ------ ----------- ------- -------
Revenues for the period ended September 30, 2005 from unit sales in the United States increased from $2,236,383 for the same period in 2004 to $6,269,747 in 2005, a 180.4% increase. The increase is the result of the introduction of the Company's new product lines during this period.
In the period ended September 30, 2005, our gross margin for U.S. sales of $1,763,131, increased by $1,281,719, or by 266.24%, from $481,412 for the same period in 2004. The increase in gross margin was the result of the increased sales and greater efficiencies in the production of our products.
Foreign Sales
Revenues for the period ended September 30, 2005 from kit sales in foreign countries decreased from $403,148 for the same period in 2004 to $321,946, a 20.14 % decrease. The decrease is the result of the lack of sales in Mexico and a reduction of sales in the Middle East during this period offset by the commencement of sales in the United Kingdom.
We recorded $212,395 in costs of sales in foreign countries for the period ended September 30, 2005, an increase of $138,993 or 189.36% from $73,402 for the same period in
23 2004. The increase was the result of the costs associated with establishing a new business in the United Kingdom based upon the Company's unit sales model.
For the period ended September 30, 2005, our gross profit of $109,551 for sales in foreign countries decreased by $220,195, or 66.78%, from $329,746 for the same period in 2004. The decrease in gross profit was consistent with the decrease in sales volume for this period.
Consolidated Operating Expenses
We incurred selling expenses of $3,525,002 for the period ended September 30, 2005, $3,260,493 of which was incurred in our United States operations. Our selling expense for this period increased by $2,254,960, a 177.5% increase compared to our selling expense of $1,270,042 for the same period in 2004. The increase in selling expenses in the current period was due to increased freight and promotional charges, including media advertising, associated with increased sales and our development of four new product lines, utilizing newly licensed and directly owned branded trademarks. In addition, the Company recorded $99,168, pro-rata, of an $11,900,000 net charge in deferred distribution costs for the issuance of a three warrant to Coca-Cola Enterprises to purchase of 30,000,000 shares of our common stock in connection with the execution of a Master Distribution Agreement. The Company will recognize that cost as a selling expense over the 10-year term of the Master Distribution Agreement.
We incurred general and administrative expenses of $2,345,041 for the period ended September 30, 2005, $2,183,598 of which we incurred in our United States business operations and $161,443 for the enlargement of our international business into the United Kingdom and Canada. Our general and administrative expenses for this period increased by $131,715, a 5.95% increase compared to $2,213,326 for the same period in 2004.
As a percentage of total revenue, the Company's general and administrative expenses decreased from 81.8% in the period ended September 30, 2004, to 35.6% for the current period in 2005. We anticipate a continued effort to reduce these expenses as a percentage of sales through revenue growth, cost cutting efforts and the refinement of business operations.
Interest Expense
We incurred interest expense for the period ended September 30, 2005 of $293,415. Our interest expense increased by $138,598, a 89.52% increase compared to $154,817 for the same period in 2004. The increase was due to using additional debt to finance the Company's operations during this period, including the development and launch of new product lines and expenses associated with increased promotional and marketing sponsorships.
Loss Per Share
We accrued dividends payable of $263,001 for various series of preferred stock during the period ended September 30, 2005. The accrued dividends decreased for this period by $28,459, or 9.76%, from $291,460 for the same period in 2004. The net loss before accrued dividends for the current period increased $4,603,600, from $2,882,131 for the period ended September 30, 2004 to $7,485,731 for the current period. The increase in the net loss resulted in an increase in the Company's current period loss per share from $0.08 for the same period in 2004, to a loss per share of $0.09 for the current period. Of the $7,485,370 net loss, $3,000,000 has been recorded in the quarter ending September 30, 2005 as a one time, non- recurring finder's fee payable to a third party in connection with the execution of the Master Distribution
24 Agreement with Coca-Cola Enterprises, Inc. Absent the $3,000,000 non- recurring finder's fee charge, the Company's increased net loss per share was offset by an increase in the weighted average of common shares outstanding from 38,254,305 shares for the nine months ended September 2004 to 82,091,556 shares for the current nine month period, resulting in a current period loss per share of $0.06.
Three Months Ended September 30, 2005 Compared to the Three Months Ended September 30, 2004
Revenue
The Company had revenues for the three months ended September 30, 2005 of $3,245,305, with cost of sales of $2,360,884, resulting in a gross profit of $884,421, or 27.3% of sales, $2,956,709 of which were generated by the Company's U.S. operation and $288,596 from the Company's UK business. The Company did not report any sales for Canada, Mexico or the Middle East in the three months ended September 30, 2005. Our revenue for the three months ended September 30, 2005 increased by $2,419,875, a 293% increase compared to revenue of $825,430 for the three months ended September 30, 2005. The increase in revenue in the United States for the three months ended September 30, 2005 is the result of the continuing rollout of the Company's new product lines during this period and the launch of the Company's business in the United Kingdom.
Cost of Goods Sold
The Company incurred cost of goods sold of $2,360,884 for the three months ended September 30, 2005, $2,151,102 of which was incurred in our U.S. operations in the third quarter. Our cost of goods sold for this period increased by $1,732,137, a 275.5% increase compared to $628,747 for the three months ended September 30, 2004. The increase in cost of goods sold in the United States for the three months ended September 30, 2005 is the result of increased sales and the corresponding increase in the costs of good sold.
Operating Expense
The Company incurred selling expenses of $1,727,531 for the three months ended September 30, 2005, $634,580 of which was incurred in our U.S. operation. Selling expenses increased for the three months ended September 30, 2005 by $1,074,909, a 164.7% increase compared to the selling expense of $652,622 for the three months ended September 30, 2004. The increase in selling expenses is the result of increased sales, including promotional expenses, the costs associated with guaranteed royalties under our third-party intellectual property license agreements and deferred distribution costs for the issuance of a warrant in connection wit the execution a Master Distribution Agreement with Coca-Cola Enterprises Inc.
The Company incurred general and administrative expenses of $905,487 for the three months ended September 30, 2005, $844,464 of which was incurred in the U.S. operations. General and administrative expenses for the three months ended September 30, 2005 increased by $354,188, a 64.25% increase compared to $551,299 for the same period in 2004. The increase in general and administrative expenses for the current period is the result of greater management activities in the promotion and continued rollout of the Company's new product lines in the United States and the establishment of the Company's business in the United Kingdom.
25 Interest Expense
The Company incurred interest expense for the three months ended September 30, 2005 of $73,169. Interest expense for the three months ended September 30, 2005 decreased by $6,653, an 8.3% decrease compared to $79,822, for the same period in 2004. This decrease was the result of of reduced debt in this period.
Net Loss
The Company had a net loss for the three months ended September 30, 2005 of $4,906,456 compared with a net loss of $1,120,992 for the same period in 2004. The net loss increased by $3,785,464 or 337.7% compared to the same period in 2004. Of the $4,906,456 net loss, $3,000,000 represents a one time, non-recurring finder's fee payable to a third party in connection with the execution of the Master Distribution Agreement with Coca-Cola Enterprises, Inc. Absent the $3,000,000 non-recurring finder's fee charge, the Company's increased net loss per share was offset by an increase in the weighted average of common shares outstanding from 44,374,877 shares for the three months ending September 2004 to 113,680,645 shares for the current three month period, resulting in a current three month period loss per share of $0.016.
LIQUIDITY AND CAPITAL RESOURCES
As of September 30, 2005, we reported that net cash used in operating activities was $4,956,448, net cash provided by financing activities was $5,510,649 and net cash used in investing activities was $90,583. We had a negative working capital of $4,105,854 as of September 30, 2005.
Compared to $3,372,840 of net cash used in operating activities in the period ended September 30, 2004, our current period net cash used in operating activities increased by $1,583,608 to $4,956,448. This increase was the result of changes in deferred product development costs, prepaid expenses, accounts payable and accrued expenses, including a $3,000,000 finder's fee payable in connection with the execution of the Coca-Cola Enterprises Master Distribution Agreement. Included in the net loss in this current period were depreciation and amortization and stock compensation for a finder fee aggregating $907,087, compared to $364,995 for the same period in 2004.
Changes in accounts receivable in this current period in 2005 resulted in a cash decrease of $149,281, compared to a cash decrease in receivables of $8,490 for the same period in 2004, having a net result of an decrease of $140,791. The changes in accounts payable and accrued liabilities in the period ended of September 30, 2004 contributed to a cash . . .
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Bravo! Foods Signs Multi-Year Manufacturing Agreement With Jasper Products Parties Agree to Production Volume Commitments 1/4/2006 8:31:05 AM NORTH PALM BEACH, Fla., Jan 04, 2006 /PRNewswire-FirstCall via COMTEX/ -- Bravo! Foods International Corp. (BRVO), a brand development and marketing company that manufactures, promotes and distributes vitamin- fortified, flavored milks, announced today that it has signed a multi-year distribution agreement with Jasper Products, L.L.C. of Joplin, Missouri, one of only three dairy processors in the United States that has approval of the United States Food and Drug Administration to produce aseptic shelf-stable milk in bottles. Bravo! has contracted with Jasper, which has produced its flavored milks, including Slammers(R), since 2001, for the continued production of Bravo!'s products through September 2010.
Under the terms of the agreement, the parties have agreed to annual volume commitments for the ordering and production of Bravo!'s various lines of shelf-stable, single-serve flavored milk beverages. The scheduled production commitments with Jasper will be realized on a ramp-up basis, commencing in April 2006, with the installation of additional processing equipment at Jasper's Joplin plant. These production commitments will satisfy the agreed upon supply obligation of Bravo! to Coca-Cola Enterprises, Inc. (CCE), under Bravo!'s Master Distribution Agreement with CCE by the summer of 2006.
To secure the production commitments, as well as the right of first refusal for Jasper's additional production capacity going forward, Bravo! has paid a one-time equipment mobilization payment of $2.7 million to Jasper. The agreement incorporates per unit monetary penalties for both unused capacity by Bravo! and any production shortfall by Jasper.
Roy Warren, Bravo!'s Chief Executive Officer, said, "The importance of entering into this agreement with Jasper cannot be overstated. By it, we satisfy our supply obligations under the CCE Master Distribution Agreement and move closer to our long-term production goals." Mr. Warren continued, "Perhaps more important is the continuation of our past relationship with Jasper -- one that has been invaluable to Bravo! in terms of Jasper's support, cooperation and faith in our business."
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Bravo Foods International Corp. to Present at the SG Cowen & Co. 4th Annual Consumer Conference
January 05, 2006 08:30:30 (ET)
NORTH PALM BEACH, Fla., Jan 05, 2006 /PRNewswire-FirstCall via COMTEX/ -- Bravo! Foods International Corp. (BRVO, Trade), a brand development and marketing company that manufactures, promotes and distributes vitamin- fortified, flavored milks, announced that it will be presenting at the SG Cowen & Co. 4th Annual Consumer Conference being held at The Westin New York in New York City on Tuesday, January 10, and Wednesday, January 11, 2006.
Roy Warren, Chief Executive Officer, and Jeffrey Kaplan, Chief Financial Officer, will be presenting on Tuesday, January 10 at 9:00 a.m. Eastern Standard Time. The presentation will be webcast and can be accessed by clicking on http://www.corporate- ir.net/ireye/confLobby.zhtml?ticker=BRVO.OB&item_id=1188769 or on the company's website at http://www.bravobrands.com in the Investor section under the "webcasts and presentations" tab. If you are unable to listen to the live webcast, the presentation will be archived for 90 days on the company's website.
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Bravo! Foods Announces Appointment of Two Senior Managers 1/19/2006 8:30:28 AM
NORTH PALM BEACH, Fla., Jan 19, 2006 /PRNewswire-FirstCall via COMTEX/ -- Bravo! Foods International Corp. (BRVO), a brand development and marketing company that manufactures, promotes and distributes vitamin-fortified, flavored milks, today announced two new management appointments to its operations team.
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Bravo! Foods International Corp. Announces New Product Locator Wednesday March 22, 8:30 am ET Database Currently Lists Over 50,000 Locations
NORTH PALM BEACH, Fla., March 22 /PRNewswire-FirstCall/ -- Bravo! Foods International Corp. (OTC Bulletin Board: BRVO - News), a brand development and marketing company that manufactures, promotes and distributes vitamin- fortified, flavored milk drinks and other beverages, announced today that it has included a new and improved Product Locator on its website at http://www.bravobrands.com . This improved website feature is accessible via the drop down Products menu located on its homepage. The Product Locator allows consumers to enter their city, state and/or zip code to find the nearest retail location selling Bravo! Slammers® and Blenders(TM) flavored milk beverages. Currently the database locator lists approximately 50,000 locations nationwide.
Roy Warren, Chief Executive Officer, commented, "This added feature to our website will greatly facilitate consumers looking to purchase Bravo! flavored milk drinks." He added, "We expect to substantially increase the number of locations in our database in the near future as more retail locations begin selling our flavored milk drinks."
About the Company
Bravo! Foods International Corp. develops, brands, markets, distributes and sells nutritious, flavored milk products throughout the 50 United States, Great Britain and various Middle Eastern countries. Bravo!'s products are available in the United States and internationally through production agreements with regional aseptic milk processors and are currently sold under the brand names Slammers® and Bravo!(TM). Bravo!'s Slammers® products are available nationwide in popular chains such as: 7-Eleven, A&P, Dutch Farms, Giant Food Stores, Jewel, Kings , Pathmark, Safeway, Sam's Club, Shaw's, ShopRite, Speedway, SuperTarget, Unified, Waldbaums and Walgreens.
Many of Bravo! Foods' Slammers® lines of shelf-stable, single-serve milk drinks are co-branded through exclusive partnerships with Masterfoods, a division of Mars Incorporated, and MD Enterprises (Moon Pie®), providing superior name recognition packaged with quality, great-tasting drinks.
On November 1, 2005, Coca-Cola Enterprises, Inc. began distribution of the Slammers® Masterfoods line, as well as the Bravo!'s Slim Slammers® and Pro Slammers(TM) products, under a Master Distribution Agreement with Bravo!
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Bravo! Foods Announces First Shipments to Mexico and Puerto Rico Monday August 7, 8:30 am ET
NORTH PALM BEACH, Fla., Aug. 7 /PRNewswire-FirstCall/ -- Bravo! Foods International Corp. (OTC Bulletin Board: BRVO - News), a brand development and marketing company that manufactures, promotes and distributes vitamin- fortified, flavored milk drinks and other beverages announced today that it had begun product shipments to Mexico and Puerto Rico.
In mid-July Bravo! shipped nine truckloads, or 35,640 cases of MILKY WAY® Slammers® 9-Packs, to Laredo, Texas for export to Wal-Mart's 72 Sam's Clubs locations in Mexico. The Sam's Clubs' in Mexico will initially carry the MILKY WAY® Slammers® milk products, but Bravo! anticipates increasing the number of SKUs distributed to these locations during 2007.
Also outside the United States, Bravo! has begun product shipments to Puerto Rico. The Company will be utilizing the local Coca-Cola distributor in Puerto Rico to get the product to market. The company shipped approximately 3,200 cases consisting of: 1) MILKY WAY® Slammers®, 2) 3 MUSKETEERS® Slammers, 3) Strawberry STARBURST® Slammers® Fruit and Creme Smoothies and 4) Orange STARBURST® Slammers® Fruit and Creme Smoothies to Puerto Rico. Products are expected to be sold in all retail channels.
Roy Warren, Bravo! Foods International's Chief Executive Officer, commented, "We are extremely pleased to have begun shipments of our product to these new markets. We are confident that both Mexico and Puerto Rico will be excellent sell-through markets for our products." Added Mr. Warren, "Over time, we intend to add additional SKUs as well as expand our distribution locations in both Mexico and Puerto Rico."
-------------------- It is always darkest before it goes completely BLACK!!! Posts: 2322 | From: FL | Registered: Aug 2004
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Ihave made some off this in the Past and it seems that with their distribution agreements and the markets that they are entering this co. should make it big.
The biggest question is will they meet the demand of the suppliers.
I have to see weather they got Hood yet.When they have Hood manufacturing then I think it will be a sire thing that they will be going to the bigtime.
This could be a 10bagger in a few yrs.. They are making commitments that I hope they can keep.
I'm surprised they loss .01 on todays trading with the news that they shall start deliveries into the City. Usually when anything goes there it usally explodes up. I guess it's just not the sector to be in at the moment.
Keep an eye on this and buy on weakness. Am.Bulls and Stockcharts both have buys at this pps .
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Im back after a long stay away from this site.
Roy also mentioned in the last call he is open to a reverse split if it gets the market cap up and on the Nasdaq.
The question now is how big will it be if they do one?
Most only own in the thousands of shares of Bravo since its a expensive stock at .60
I may be left holding 50 shares only. These guys will never give you a range the split would be in so you don't know if you should put more money in the stocks or not.
Posts: 89 | Registered: Aug 2006
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I would not even worry about an RS at this stage and I would listen carefully to what was said monday about that.
If they get HP HOOD signed on Oct.23 then this should easily fly to $1+. That would assure they will easily meet any expectation of capacity.
What I did not like mentioned in the CC was the slight remark about CCE could pullout which is their perogative to do if they wish. I cannot see them doing so,but they could reaarrange their agreement if they wish to.
I think it could be a massive growth co. ,but they have to reward shr.hldrs instead of being a dilution is the solution OTCBB reg BS co. that is so prevailent there.
If they breakeven then show a .02-.04 profit for Q1 next yr. this will fly and might turn into a great growth issue.
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Yeah but most worry about reverse splits on the OTC stocks since they all seem to do one at some point.
I seen a 5,000-1 one happen.
Thats the reason why you cant get big investors in Bravo. They don't seem to undertand that. All I see on message boards for most OTC stocks is that they are worried about reverse splits or a 2nd reverse split.
Bravo should BUY BACK shares if they make it big. Not really screw the investors who helped them out all along by spreading the word about them. I mean if they are gonna make all this cash the need for a reverse split should not even come up.
Posts: 89 | Registered: Aug 2006
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I wrote the CEO and he told me about the reasoning.
I agee with you as his first reaction was to be against them and now proclaims one might come.
I don't think it will happen tomorrow ,but it shall happen.
Tracking the trades this week was discouraging,but you know something. This issue runs usually bad when an Earns Report comes.Another thing to pay attention to is what the last trades at the EOD are. If there are big buys then it usually rebounds.
So tomorrow it can go either way.People threat when an RS is announced.I do think they will get through it and after the RS it will travel.
They have to much momentum now in getting contracts and are improving their Bottomline which is positive.
I hope they don't do an RS until after the HP HOOD deal.That will drive this over 1 easy. Then it will backdown again and then an RS should happen.
I hope they do it that way,but I doubt it.
Posts: 180 | From: Maine | Registered: Apr 2006
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