SAN FRANCISCO - June 11, 2014 - Merriman Capital, Inc. ("Merriman"), a wholly owned subsidiary of Merriman Holdings, Inc. (MERR), announced that it has initiated equity research coverage of True Drinks Holdings, Inc. (TRUU) with a Buy rating and a $2.20 price target.
True Drinks develops and markets healthy beverages such as naturally flavored water and energy drinks. The Company`s flagship product, AquaBallTM Naturally Flavored Water, is sugar-free, calorie-free and does not contain harmful sweeteners. AquaBall is a healthy hydration alternative to high sugar drinks for children, and the Company has licensing agreements with Disney and Marvel and distribution to over 28,500 stores nationwide. The current management team brings significant international food and beverage distribution experience. True Drinks was founded in 2008 and is headquartered in Irvine, CA.
True Drinks operates the majority of its sales, R&D and corporate infrastructure through its headquarters in Irvine, California and manufactures the majority of its products at three packing/manufacturing facilities located in New York, California and Texas. TRUU went public through a reverse merger in October of 2012. Since its inception, TRUU has established a distribution presence that encompasses over 26,000 retail storefronts with leading chains such as Albertsons, Kroger, Winn Dixie, H-E-B, Bristol Farms, Gelson`s, WinCo, Sam`s Club and Rite Aid. The company has also forged exclusive branding partnerships with Disney and Marvel, which provide TRUU with a unique marketing opportunity that should ultimately augment customer acquisition rates. TRUU generates revenue through the sale of its AquaBall line to brick-and-mortar retailers and direct-to-consumer sales of AquaBall and Bazi over the internet.
About Merriman Capital, Inc.
Merriman Capital, Inc. is a full service investment bank and Broker-Dealer that facilitates efficient capital formation through a proprietary digital network, and offers Capital Markets Advisory and comprehensive Corporate Brokerage services for public and private companies. The firm also provides equity and options execution services for sophisticated investors and differentiated research for high growth companies. Merriman Capital, Inc. is a wholly owned brokerage subsidiary of Merriman Holdings, Inc. (MERR) and is a leading advisory firm for publicly traded, high-growth companies.
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Note to Investors
This press release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on March 31, 2014. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise. The Form 10-K filed on March 31, 2014, together with this press release and the financial information contained herein, are available on our website, www.merrimanco.com. Please click on "Investor Relations."
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Director of Research
Merriman Capital, Inc.
Chief Compliance Officer
Merriman Capital, Inc.
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Source: Merriman Holdings Inc. via GlobeNewswire