chris reed is an arrogant hippy who needs a swift kick in the #$%$. He is running a good company , with great product into the ground. Lousy PR . lousy mgt.. There are distributors up to the kazoo , but they can't turn a profit because they didn't hire someone with an MBA in business..
yes, the company has excellent products. The CEO has professed that he would rather be sequestered within the confines of the plant than to go out and do what it is a responsible CEO should do. He needs to be pressured to give up his role as chairman of the board. The existing board should resign and a new slate be nominated. Further, If investors knew that the co could be profitable and he is purposely preventing it from happening, he should resign - period! I believe that to be a distinct possibility. It seems as though the CFO also has his head up his #$%$. We don't know much about the COO as he's never mentioned but by the looks of things probably goes along with whatever CR wants. If they haven't already, investors should make their feelings known by byapssing the worthless IR dept and voicing their concerns directly to the head honcho. Moe. Larry and Curly ain't gettin' it done!
Chris sounded like a beaten man on the last cc. Mgmnt blindsided investors with a 400k loss and they run the co. like amateurs. Until they realize that their business needs an infusion of professional and experienced help, this will continue....
oh no it gets better, they lost 700k between excess freight costs b/c RGB and virgils had to be produced in PA b/c their plant was tied up trying to produce K.....creating excess idle capacity, but get this, these idiots only sold 29k cases of K for all their 'effort', and at 20/case they only sold 600k dollars of K which lost them 700k from the bottom line for the aforementioned aggregate costs of producing their K. So they totally f'd up the financials for a non contributory minor gain in K, and remember even if K margins are 35% that 600k in wholesale sales of K only produced a contribution margin of roughly 230k dollars. Awesome job. CR needs to get the F out of the way of what should be a cash and growth generating machine.
it was the plant mngrs fault that
k consumed their equipment and time. they fired him and got a 'hot shot manager' you cant make this #$%$ up. the callers who questioned him made him think twice about the way that K has consumed their mindset, their plant operations and their resources. admits that ginger brew and virgils are the crown jewels as the indian guy had to remind them.