MIAMI, Fla., Oct. 6 /PRNewswire-FirstCall/ -- JCOF (www.myjavafit.com), Javalution Coffee Company, (Pink Sheets: JCOF), a fully vertical coffee roasting and distribution company, owner of the multi-level marketing brand, JavaFit, and the retail brand, Cafe La Rica, as well as the category creator of functional gourmet coffee: Announces FINRA approval to trade under the symbol JCOF.
The executive team at Javalution Coffee Company is proud to make this announcement. Becoming a publicly traded company, whose common stock will be quoted on an electronic exchange, has been a goal of ours since inception.
We also achieved another major milestone on September 1st when we completed the acquisition of the remaining outstanding shares of CLR Roasters. We are proud to now be a vertically integrated company that owns and controls the entire manufacturing process. This acquisition not only provides us better quality control, a guarantee of the freshest coffee possible, and a diversified revenue stream, but we also now control the Cafe La Rica brand which is distributed through Wal-Mart, Winn-Dixie and Publix throughout the state of Florida.
Obviously, one of our goals for CLR Roasters is to launch the Cafe La Rica brand nationally. "We feel that Javalution Coffee Company will deliver great shareholder value by positioning itself as a coffee company which will, roast and distribute, two company owned national brands. These brands will be marketed through two very different distribution strategies," said Dave Briskie, CEO of Javalution. JavaFit is marketed nationally through its growing network marketing program and Cafe La Rica is distributed directly through various retailers.
Revenue:
Since officially launching the JavaFit brand through a network marketing distribution platform on July 5th we are very proud to report that gross revenue for the 3rd quarter for Javalution Coffee Company and CLR Roasters was $1,251,428. We are continuing to show progress toward reducing our operating losses. See unaudited quarterly numbers in the chart below:
Javalution Coffee Company/CLR Roasters
Unaudited Key Performance
Numbers Quarter by Quarter 2009
Q1 2009 Q2 2009 Q3 2009
Total Income
Javalution Coffee Co $7,418 $605,532 $701,484
CLR Roasters $491,103 $531,052 $549,944
Consolidated $498,521 $1,136,584 $1,251,428
Cost of Goods Sold
Javalution Coffee Co $10,066 $345,095
CLR Roasters $353,368 $376,725
Consolidated $363,434 $721,820
Gross Profit
Javalution Coffee Co -$2,648 $260,437
CLR Roasters $137,735 $154,327
Consolidated $135,087 $414,764
Expenses
Javalution Coffee Co $289,458 $428,476
CLR Roasters $215,686 $208,224
Consolidated $505,144 $636,700
Net Ordinary Income
Javalution Coffee Co -$292,106 -$168,039
CLR Roasters -$77,951 -$53,897
Consolidated -$370,057 -$221,936
Notes: Javalution Coffee Company owned a 60% interest in CLR for Q1
Javalution Coffee Company acquired an additional 25% stake in CLR in Q2
(25% interest in CLR closed June 1 2009)
Javalution Coffee Company acquired the balance of the interest in CLR in Q3
(Final 15% stake in CLR closed on September 1, 2009)
Only Revenue Numbers were available for Q3 as of this release
Final numbers will be provided when available.
Diversified Revenue Model
Traditional Retail: CLR Roasters Cafe La Rica brand is currently sold in Wal-Mart and Winn Dixie and various other small retailers throughout the state of Florida
Private Label: CLR Roasters currently provides roasting service to a number of customers and our coffees can be found in Farm Stores, Walt Disney world Resorts, and various cruise line
Distribution Business: CLR Roasters has been providing coffee to LP Signature Wellness centers for quite some time. In March we were granted distribution rights for other products and negotiated distributorships with Splenda, Filter Pack, Diamond
Crystal and other suppliers.
Network Marketing Business: JavaFit is marketed through its own network marketing platform.
Affiliate Growth:
"JavaFit's affiliate network has grown to over 1600 affiliates. For the month of September our affiliate base will grow by 15% which will put us on plan. We believe we can sustain monthly affiliate growth of 15% throughout 2009. We currently have active distribution in 48 states with only Alaska and Rhode Island lacking a distribution," said Scott Pumper, President of Javalution.
Management:
Dave Briskie accepted the position of CEO of Javalution Coffee Company (JavaFit) in 2007. He has guided JavaFit to becoming a fully vertical coffee company and he is energized to bring to JavaFit the experience he has garnered from an exciting and rewarding 18-year career with Drew Pearson Marketing, Inc.(DPM). Dave began his DPM career in 1989 as Executive VP of Finance and Marketing, negotiating a 25% equity position providing he could turn around the struggling, young consumer products company. Being the eternal optimist and believing in his ability to make things happen, he saw a great asset in DPM's loss carry forward and was keen in utilizing his unique background in finance and sales to deliver results for the 2 million dollar headwear company. Four years after he took over the sales effort, DPM's growth rate was phenomenal, reaching $30 million in sales. During this time, The Dallas100 recognized and honored DPM as the 2nd fastest growing privately held entrepreneurial company. By 1996, DPM's sales reached $70 million dollars and now has offices in Dallas, New York, Hong Kong and Minnesota. Through Drew Pearson International (DPI), a sister company formed by Dave in 1992 to capitalize on the growing global demand, Dave's team introduced the Drew Pearson brand to 15 European countries, Canada, Mexico, Latin America and Asia. Named CEO of both DPM and DPI in 1996, he is credited with negotiating multi-million dollar contracts and building relationships with a multitude of fortune 1000 companies including, Disney, Warner Bros, NFL, NBA, MLB, NHL, all major universities, Anheiser Bush and General Motors. In 2001, Dave orchestrated a merger of DPM and DPI with its key manufacturing partner, Mainland Headwear, and the merged company was taken public on the Hong Kong Stock Exchange. As part of the merger, Dave executed a 5 year employment contract, was a director of the Hong Kong Corporation, and remained as CEO of Drew Pearson Marketing through the conclusion of his agreement. Priding himself on building an amazing team that drove DPM and DPI to meet its lofty goals, Dave's passion is building businesses from start up, so he proudly turned over the reigns of the well-established DPM and DPI to the talented team he assembled and stands ready to build another strong brand and profitable company with JavaFit.
Dave Briskie, CEO stated, "I am proud of the progress our team has achieved in my brief tenor as CEO. I am thrilled to have helped our President, Scott Pumper, achieve his goal of becoming a public company. His knowledge, experience and relationships in the financial world were a key factor. As a CEO, this is the second company I have been involved with that has become public under my watch. The best is yet to come!"
Scott Pumper, co-founder and President of Javalution Coffee Company, Scott has always prided himself with having a passionate work ethic. At the young age of 18 Scott began his career on Wall Street where he ultimately became a licensed stock broker and principal. What he lacked in experience he made up for with an inextinguishable belief that he could not be out worked. Over his 10 year Wall Street career Scott continued to work at a feverish pace, but what really catapulted him to success was his revelation that the most successful companies had strong, diversified, knowledgeable, experienced leadership.
Scott's experience extended to all aspects of investment banking including venture capital, IPO's, portfolio management and equity trading. Scott's career on Wall Street concluded with the knowledge that his key to long term success would come from building, trusting relationships.
In 1998 Mr. Pumper left Wall Street to consult companies on how to raise capital, and build strong management teams. After helping several companies pioneer their businesses and doing everything from raising their capital, to building their management teams Scott decided to launch his own venture and started JavaFit.
Scott Pumper has been the founder and President of Javalution Coffee Company since its inception in 2003. He has built a team at JavaFit that is second to none and he is excited to help guide Javalution Coffee Company meets its lofty goals.
Scott Pumper, President said, "I am excited to witness the progress our company has made since Dave Briskie became our CEO. Our diversified revenue, model made possible through the acquisition of our Roasting Operation, has been a great strategic move. I look forward to taking advantage of the opportunities that being a publicly traded company will provide us."
This press release contains forward-looking statements that are subject to risks and uncertainties. These forward-looking statements include information about possible or assumed future results of our business, including anticipated growth and geographic expansion, new products and services, new business development and opportunities, anticipated revenues, possible reduction or elimination of material weaknesses, anticipated revenue growth, expenses, profitability, losses and profit margins. In some cases, you may identify forward-looking statements by words such as "may," "should," "plan," "intend," "potential," "continue," "believe," "expect," "predict," "anticipate" and "estimate," the negative of these words or other comparable words. These statements are only predictions.
One should not place undue reliance on these forward-looking statements. The forward-looking statements are qualified by their terms and/or important factors, many of which are outside the Company's control, involve a number of risks, uncertainties and other factors that could cause actual results and events to differ materially from the statements made. The forward-looking statements are based on the Company's beliefs, assumptions and expectations of the Company's future performance, taking into account information currently available to the Company. These beliefs, assumptions and expectations can change as a result of many possible events or factors, including those events and factors described in "Risk Factors" in the Company's Annual Report on Form 10-KSB for 2008 filed with the Securities and Exchange Commission, not all of which are known to the Company.
The Company will update the information in this press release only to the extent required under applicable securities laws. If a change occurs, the Company's business, financial condition, liquidity and results of operations may vary materially from those expressed in the aforementioned forward-looking statements.
For more information on investment opportunities with Javalution Coffee Company, contact: shareholders@javalution.com
JavaFit News Source: http://www.prnewswire.com/news-releases/javalution-announces-finra-approval-to-trade-63609867.html
For more information on Javalution Coffee Company or JavaFit® visit Java411.net or contact your JavaFit Independent Representative:
Chris Clark
(540)674-0080
chris@java411.net
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