what they say they want to do....They are giving out stock like water, for everything.....Maybe the big boys will let them get in deeper then start their own "healthy" soft drink, which already, there are many, thus forcing them either to sell out or to go BK.
Personally, I was very impressed with their 10-K regarding future plans and all the work they've done up to this point. Regarding working capital, I think it's fair, if not expected, to ALWAYS ask whether or not a new company has enough operating capital. But to make a broad declarative statement that this particular company is lacking in capital, I'd like to see the math as to how you came to that conclusion.
The "big boys" already have plenty of "health" drinks out there but none, as far as I can tell at this time, seem to have anything like Pulse Beverage's unique proprietary formula. I suspect Pulse isn't trying take on Red Bull, Monster, Gatorade, Sobe,, et al head on but, rather, trying to create a unique sub-market niche within that sector.
Just read the ingredient labels on all the other brands: sugar, caffeine, electrolytes and a spattering of water-soluble vitamins (90% of which never get past the stomach without breaking down). Pulse encapsulates their vitamins in microscopic liposomal "bags" allowing 100% absorption further down in the digestive track. So far, I've found only one other sports drink using this technique, but I'm not sure if they're still in business (Rev H2o).
Working capital history:
$250K end of mrq
From Jerry Astor Redchip interview: company expecting profitability between next 6-12 months. Most likely may need to raise a little more capital sometime this year, but 2013 looking to be VERY good year & cash flow positive.
PLSB is a working emergent micro-cap just beginning its growth phase. Given the apparent awesome sales growth just this past year, solid distribution network and unique proprietary products, raising a little extra capital in this environment isn't really isn't a big deal IMO. I see they're keeping the debt ($250K mrq) under tight control as well.