EDMONDS, WA / ACCESSWIRE / October 7, 2015 / American Brewing Company, Inc. (ABRW) is pleased to announce the sale of all its beer assets, as the company now focuses on its rapidly growing and profitable bùcha(TM) live Kombucha business. This transaction creates several opportunities of enhanced value for our shareholders. The sale should enable the company to:
- Improve our income statement by removing an increasingly competitive, non-profitable business unit and all the associated taxes, liabilities and obligations.
- Improve our balance sheet by eliminating long term debt and interest and removing other long term liabilities, thus creating an immediate increase to earnings.
- The Company may now focus its monetary resources on the high growth, functional beverage business.
- Reduce expenses related to public filings by eliminating an entire audit and the costs with maintaining those books.
- Decrease payroll and related expenses by one third.
- Devote all of management's time and effort toward a focused goal related to the healthy beverage/ healthy food segments.
- Create a company vision statement that focuses on the functional beverage category and thereby create a message that can be clearly identified by consumers and stakeholders alike.
While the company has gone through a quasi-closing with one remaining condition, current management of American Brewery will continue to provide day to day management of the brewery until the buyer has their application for a new microbrewery license approved through the Washington State Liquor Control Board. No issues are expected as the buyer, seller and the seller's location are currently approved and in the system.
Over the coming weeks, the Company will be providing further details about this exciting development. We will soon have an upcoming conference call to discuss specific details. A name and symbol change may occur shortly.
Safe Harbor Statement
This press release contains "forward-looking statements" within the meaning of Section 27A of the 1933 Securities Act and Section 21E of the 1934 Securities Exchange Act. These statements include, without limitation, predictions and guidance relating to the company's future financial performance and the research, development and commercialization of its technologies. In some cases, you can identify forward-looking statements by terminology such as, "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," or the negative of these terms or other comparable terminology. These forward-looking statements are based on management's current expectations, but they involve a number of risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in the forward-looking statements, as the result of such factors, risks and uncertainties as (1) competition in the markets for the products and services sold by the company, (2) the ability of the company to execute its plans, (3) other factors detailed in the company's public filings with the SEC, which are available at http://www.sec.gov/. You are urged to consider these factors carefully in evaluating the forward-looking statements.
Neil Fallon, CEO
American Brewing Company(R)
SOURCE: American Brewing Company, Inc.