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DC Brands Addresses Company Audit
* Reuters is not responsible for the content in this press release.
DENVER, CO, Jan 22 (MARKET WIRE) --
In recent press releases, DC Brands International (PINKSHEETS: DCBR) has said
they believe 2008 will be a breakout year. In fact, the company does
appear to be getting traction with both retailers and distributors and expects
exponential growth this year. Additionally, as released yesterday, the
company's new line of health beverages, being manufactured under the name
Hard Nutrition Functional Water Systems, is now in production and is poised to
be a
trendsetting product. With these vitally important issues well underway, the
company's President & CEO Richard Pearce addressed the issue of DC Brands
completing its audit process and regaining bid and ask status.
Said Pearce, "Until now we have had one person in charge of all accounting
duties
plus managing the production and development of the current and new product
lines. I'm the first to admit that this was too much for one person to handle.
Last summer at our shareholders event in Vegas we announced that we were
purchasing the vitamin and supplement company Hard Nutrition, which we did. At
that time we were well on our way to completing the audit; however, trying to
work the books of Hard Nutrition and properly account for all transactions and
make that work into our system proved a daunting task. It was not just the
physical act of getting it completed and the technical ability to do so, it
was more a matter of too little time and resources and people just being
spread too thin. After announcing we were buying Hard Nutrition and doing so,
we had to focus on the reason we made that move, to develop what all of us
wholeheartedly believe is the future of our company.
"Jeremy Alcamo was charged with and did an absolutely phenomenal job of
leading this project from the drawing board through development and into
production. As we announced yesterday, the products are incredible. This is a
much more complicated task than we have dealt with in the past, as there are
14 products on the drawing board and the first seven have now been produced
and are ready for sale. Each is a completely different product with different
labels, flavors and supplements. At the same time Jeremy has overseen all
production of our Dickens and Turn Left products and managed to reduce costs on
them as well.
"With those accomplishments in the bag, it is time to refocus on the audit
issues, filing our 15-c-2-11 and regaining our bid and ask so we can start to
see our accomplishments and progress translate into value for our
shareholders. To do this, we are proud to announce that Jeremy Alcamo
willbecome Chief Procurement Officer, charged with overseeing all production
issues and
ensuring only the finest quality beverages. We also want to announce that we
have been interviewing additional CFO-level candidates with great experience
that
can take control of the audit issues and see this task through to its
completion.
"I understand the level of disappointment and frustration many of our
shareholders have felt over this issue taking so much longer than
expected.We have been restrained by the reality of what we could accomplish
based
ontime and resources and have been forced to prioritize. Our top goal was
torestructure our sales force and drastically increase revenue -- that goal is
happening. Next, on the heels of the Hard Nutrition acquisition we wanted
to develop a revolutionary line of products and the first seven of those
products are now completed. Now, we will refocus on the audit issue and the
difference this time will be having someone focused on this task and this task
only, with no other distractions, to ensure that task is completed and that
the highest level of record keeping is maintained and communicated on an
ongoing basis. Look for an announcement on the new CFO by months end."
About DC Brands International:
DC Brands International, a publicly traded company under the ticker symbol
(PINKSHEETS: DCBR), specializes in and manufactures unique energy drink brands.
Established in 1998, DC Brands went public in 2005, and the company's first
product, Dickens Energy Cider, launched in 2002 after a lengthy process in
developing its distinctive flavor and packaging. Following the success of
Dickens
Energy Cider, the company chose to expand its product line with a beverage that
filled the substantial NASCAR niche. With more than 75 million loyal fans, the
NASCAR demographic presented an attractive opportunity to become one of the
few racecar-themed energy drinks in the marketplace. Following much due
diligence, research and testing, Turn Left Energy Drink recently came to
fruition.
For more information on DC Brands International, visit their website at
www.TurnLeftEnergy.com, www.HardNutrition.com and DickensEnergyCider.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:
Aubrey Cornelius
acornelius@dc-brands.com
Copyright 2008, Market Wire, All rights reserved.
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