RE:RE:RE:RE:RE:RE:RE:Consulting fees for Ted in 2023 $407,000 Production started at the end of January, once the PP was filled, just like the press release stated on January 26th.
Just because Total Wine & More purchase orders weren't fulfilled until March doesn't mean production wasn't occurring.
Stop spamming, we get it, you don't like Teddy or David, any other contributions besides hate speech on a daily basis?
Corporate Update
The Company is pleased to confirm that The Blaze Life Holdings' ("BLH") cannabis manufacturing and distribution facility in Canoga Park, CA (the "BLH Facility") is now fully licensed and operational and that the Company's glass bottling line has been successfully installed at the BLH Facility. Tinley's Long Beach clients are now able to resume co-packing production at the BLH Facility. BLH's canning and mini-bottle lines are fully operational, and the Company will now begin to receive referral fees for its co-packing clients that have transitioned production to BLH.
Tinley's is working with its retail sales and distribution broker, Emergent Beverages, to increase revenue from the sales of Beckett's no-alcohol products through Total Wine & More's 263 superstores across 28 US states, as well as through new sales to additional US customers. Tinley's is currently in production to fulfill all currently outstanding purchase orders. Using proceeds of the Private Placement, the Company will also be building an inventory reserve of Beckett's no-alcohol beverages to seamlessly fulfill new purchase orders once received. This standby inventory is also expected to be used for sales samples to promote and market Beckett's across the U.S. in support of the Company's sales expansion initiatives.
Production, distribution and sales planning are underway for the Company's new line of Beckett's hemp-derived Delta-9 tetrahydrocannabinol ("HD9 THC") beverages. Production of this new, high-demand beverage line is expected to commence in Q1 2024. HD9 THC is derived from the hemp plant, not the heavily regulated and restricted marijuana plant. Accordingly, the sales of hemp products currently enjoy minimal regulation and are permitted to be sold throughout most of the United States. The Company's new HD9 THC beverages are expected to be widely distributed and sold across most US states in high-volume, high-traffic locations such as supermarkets, corner stores, gas stations, bars and restaurants. Beckett's no-alcohol and Beckett's HD9 THC beverages are expected to be the Company's primary focus for investment and revenue growth starting this quarter and going forward.
Tinley's will also be relaunching certain new and improved THC-infused beverages, which are expected to include high potency options containing 100 mg of THC. The Company has decided to discontinue using "Tinley" as a brand name and will be producing the new line of reformatted THC-infused beverages under the Beckett's brand. Production of the THC-infused beverages is expected to roll out this quarter at the BLH Facility, with scheduling of the first production to be confirmed in the near future. The new Beckett's THC-infused beverages are planned to be sold and distributed California-wide through BLH's best-in-class and rapidly expanding distribution division, Sulo, whose beverage distribution clients include Mary Jones, Cann and other leading, category-creating brands. Sulo will also be providing Tinley's with sales support throughout the entire state of California. The Company also expects to be able to deliver THC-infused beverages directly to customers' homes throughout California.
Appointment of Mr. Shreyas Balakrishnan to Tinley's Board of Directors
Tinley's is pleased to announce the appointment of Mr. Shreyas Balakrishnan to the Company's board of directors. Mr. Balakrishnan is the Chief Executive Officer of the Company's strategic partner, Blaze Life Holdings. Prior to joining BLH, Mr. Balakrishnan spent almost 20 years with Anheuser-Busch (AB) InBev (NYSE: BUD), last serving as President of Cutwater Spirits. Mr. Balakrishnan also helmed Anheuser-Busch's Elysian Brewing Co. as President and General Manager, where he successfully planned and executed the national expansion of the regional, Seattle-based brand. He also held key leadership positions across Anheuser-Busch brewing and distribution operations, as well as leading integration for the North American acquisitions.
"We are delighted to welcome a director of Mr. Balakrishnan's pedigree and experience to Tinley's board," said Teddy Zittell, Tinley's CEO and director. "We have begun working together with Shreyas to build sustainable production, distribution and sales relationships for Beckett's no-alcohol and Beckett's HD9 THC-infused lines through his expansive and impressive industry networks," he added.