DC Brands International Announces: Significant Progress Achieved
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Mon, 09 Nov 2009 11:30:48 GMT |
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DC Brands International, Inc. |
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DENVER, CO -- 11/09/09 --
Today the company DC Brands International, a
publicly traded company under the ticker symbol (PINKSHEETS: DCBR), is
extremely proud to announce that they have reached a critical point in the
completion of their financial audit process. We have been informed that
the internal work through 2008 has been completed by our accounting firm
and interim numbers have been provided to the auditors to begin their field
work this month. 2009 is well under way and is anticipated to be completed
within weeks of closing the 4th quarter of this year. Additionally, due to
this major milestone being reached, the company has retained the law firm
of Lehman & Eilen LLP, located at 50 Charles Lindbergh Blvd, Uniondale, New
York, as its outside securities counsel. Our goal is to transform the
Company into a fully reporting entity; with the expectation that there will
be a favorable impact on not only the Company's share price but that the
Company will then be positioned to attempt to move up and off the pink
sheets.
Richard Pearce, the Company's CEO, said, "We are very pleased to make this
announcement, which essentially means that the untold hours of preparation
work and late nights with the accountants are drawing to a close. We did a
significant amount of due diligence to find the right legal firm with the
type of experience we need to transform and grow as a fully reporting
entity. After meeting with the attorneys face to face a few months ago, I
was convinced that the attorneys at the firm have the background,
experience and reputation we need to guide and assist us as we attempt to
move to the next level. Undertaking a task like this while at the same time
completing the R&D process and transitioning into the sales and fulfillment
stage has required a Herculean effort on behalf of our entire staff and no
one has been more frustrated and no one is happier than we are to be
reaching this significant milestone which we hope will allow us to focus on
our core business."
Pearce continued, "Once completed, it will also alleviate a huge financial
burden that we have been financing each month to get through the process.
Assuming retail sales at our major retailer King Soopers continue as they
have, we should end the fourth quarter with a rather respectable number.
The most important note we believe, is the fact that our strategy of
focusing on just one major retailer and a select market and getting it
right has proven to be, at least in our opinion sound. In what we believe
to be record time, we have moved from single facings on the very bottom
shelf to eye level and sales have been greatly impacted accordingly. We
have set 1 month, 2 month and now for a 3rd consecutive month, sale records
not just with King Soopers, but also with our distributor, DPI specialty
foods, who is now working with us in an effort to expand distribution
planned for next year. DPI, a distributor to tens of thousands of grocers
around the country, has indicated that, based upon the success of our
launch, it is prepared to assist us in growing at any realistic pace we can
handle in the months and years ahead.
"Most importantly, we now have a proven track record and a duplicate-able
process or receipt to expand after the 1st of the year. It is my belief
that despite the amount of time and financial investment it has taken to
get here, we are now poised for an extremely exciting 2010 and beyond."
Safe Harbor Statement:
This press release may contain forward-looking statements within the
meaning of the securities laws. The forward-looking statements are based on
current expectations, estimates and projections made by management. The
Company intends for the forward-looking statements to be covered by the
safe harbor provisions for forward-looking statements. Words such as
"anticipates," "expects," "intends," "plans," "believes," "seeks,"
"estimates," or variations of such words are intended to identify such
forward-looking statements. The forward-looking statements contained in
this press release include, statements regarding the anticipated completion
date of our audit, the effect of becoming a full reporting company, our
attempt to move to the next level, our fourth quarter sales results All
forward-looking statements in this press release are made as of the date of
this press release, and we assume no obligation to update these
forward-looking statements other than as required by law. The
forward-looking statements are subject to risks and uncertainties that
could cause actual results to differ materially from those set forth or
implied by any
forward-looking statements and include the risk factors that our audit will
take longer than anticipated, that the results of becoming a fully
reporting company will not be as expected, that our sales will not continue
as they have in the past, that our planned expansion will not be done as
quickly as anticipated or have the effects anticipated.
About DC Brands International:
DC Brands International, a publicly traded company under the ticker symbol
(PINKSHEETS: DCBR), presently specializes in and manufactures health
products. Established in 1998, DC Brands went public in 2005 producing a
number of lines of energy drinks. DC Brands then purchased the assets of
H.A.R.D. Nutrition and began its quest to produce a new health line of
products. DC Brands is now proud to announce the release of their new
H.A.R.D. Nutrition Functional Water Systems, which is set to revolutionize
the functional beverage category.
For more information on DC Brands International, visit their website at
www.HardNutrition.com.
Note: Except for the historical information contained herein, this news
release contains forward-looking statements that involve substantial risks
and uncertainties. Among the factors that could cause actual results or
timelines to differ materially are risks associated with research and
clinical development, regulatory approvals, supply capabilities and
reliance on third-party manufacturers, product commercialization,
competition, litigation, and the other risk factors listed from time to
time in reports filed by DC Brands International with the Securities and
Exchange Commission, including but not limited to risks described under the
caption "Important Factors That May Affect Our Business, Our Results of
Operation and Our Stock Price." The forward-looking statements contained in
this news release represent judgments of the management of DC Brands
International as of the date of this release. DC Brands International and
its managers and agents undertake no obligation to publicly update any
forward-looking statements.
CONTACT:
Melanie Perry
MPerry@dc-brands.com
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