TORONTO, Sept. 3 /PRNewswire-FirstCall/ - Hat Trick Beverages Inc. (HKBV.PK) CEO Sender Vaiser provided a status report this morning on the various initiatives announced in recent press releases.
Mr. Vaiser noted, "We have a lot of pokers in the fire, and wanted to provide our shareholders with an update as to how they are progressing. This fall will be very busy as we close these deals and launch a variety of new initiatives. We expect to start seeing significant impact on revenue from these opportunities early in the first quarter of 2009."
Disclosure on Pink Sheets: The Company posted its most recent quarterly results, and is responding to requests from the Pink Sheets for a more detailed Lawyer's opinion. We hope to receive Pink Checkmark status shortly.
Acquisition of Three Swordsmen China Company: The Company's business advisors will be on the ground in China this week following up on recent negotiations to acquire this high growth China based company. Negotiations are proceeding smoothly, and we will provide updates from China as we receive them.
Acquisition of Palm Beach Specialty Coffee: We first announced our interest in acquiring this Florida based specialty coffee company in June of this year. Their business model is very similar to our Hot Beverages espresso/cappuccino distribution business. We have had a chance to conduct our due diligence, and we are working with Palm Beach to review the status of a number of distribution contracts that will expire in the near future. We remain very optimistic about this acquisition, and anticipate that these outstanding questions will be addressed satisfactorily, and the deal can proceed forward to close fairly quickly.
Acquisition of Vendmax International Inc.: This business opportunity is a very interesting fit for the Company. Vendmax has recently launched a new product that takes the benefits of 'energy drinks' and puts them in the form of mints and chewing gum, sold from vending machine. While this business is not in our core competency of beverages, it competes directly with a hot new beverage category, and does overlap with our vending machine products. This has the potential to become a breakthrough product category. We are continuing to review and analyze this opportunity, and get a good sense of how this could be folded in to our existing operations.
Transfer Agents: We expect to resolve outstanding issues with the current transfer agent shortly, and complete the switch to Heritage Trust as the Company's transfer agent moving forward.
Appointment of Atlantic Trade Inc. as Master Distributor: We are pleased to announce the appointment of Toronto, Ontario based Atlantic Trade as the master distributor for the Canadian market. The Company is completing the Canadian version of its franchise agreements, and can be ready to go to market within the next couple of weeks.
USA franchise launch: We are pleased to announce the appointment of Herald Kestebaum as our USA based franchise lawyer. He is preparing the required USA based "UFOC" filings that will be filed shortly, which will allow us to begin offering franchises in those States that our UFOC filing is made and accepted.
New Shipment of Vending Machines: The Company has received its second shipment of vending machines from Italy, and has ample inventory to roll-out its sales and distribution network in the coming weeks.
Launch of Advertising Campaign: The shoot was completed this past week and is in the process of being edited for broadcast. The Company will post an audio track of the campaign on its website shortly.
Henry Ridge Litigation: The Company wishes to clarify that this litigation is essentially between Henry Ridge and the Company's previous CEO. The Company fully expects that this action will be dismissed as being without merit against the company.
Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Certain forward information contained in this release contains forward-looking statements that involve risk and uncertainties, including but not limited to, those relating to development and expansion activities, domestic and global conditions, and market competition.
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