From 2012-Q2 10-Q: "Sales increased 154% Q2 over Q1. We expect a similar increase in sales during Q3-2012." Q2 gross revenue was $956K
From 2012-Q3 10-Q: Gross revenue was 846K -- their first big miss on sales projections, but not a big deal since they were not into full production at that time. One could forgive their exuberance back then. However they also came out with this: "We estimate, based on large grocery and convenience store chain listings approved to date and probable listings from discussions in progress, by March 2013, sales of Cabana™ will reach 1,000,000 cases on an annualized basis and 2013 sales are estimated to be over 2,000,000 cases, in total, based on what we know today. " 2012-Q3 10-Q is the first place where these statements began showing up
This doesn't mean they will ship 1,000,000 cases in 2013, it means they expect sales to start hitting in the 250K case / quarter area some time in 2013. Their best quarter in 2013 turned out to be Q2 @ 126K cases -- about half of prediction. I doubt 2013-Q4 will see 75K cases of Cabana due because it's off-season in much of N. America.
From 2013-Q2 10-Q: "We expect the remainder of 2013 revenues for both products to INCREASE SIGNIFICANTLY due to timing of shipments into our distribution system and the increased number of regional and national chain and convenience store listings secured for Natural Cabana® Lemonade and the rollout of PULSE® into many of the same stores. [caps added]"
"Increase significantly"? Well, not compared to Q3 sales of only 93K cases, but compared to Q3 of 2012, yes, sales did increase -- by 24%. Not too shabby but not what I'd call "significant" either -- +50% would be significant IMO. Once again, we can't rely too much on Q-to-Q sales of Cabana as it's a seasonal product (this is clearly stated in the annual report).
Re. the 2M total cases for 2013: currently at 533K. See next post --