BOCA RATON, FL--(Marketwired - Jan 8, 2015) - DNA Brands, Inc. (OTC: DNAX), makers of DNA Energy Drink, the winner of the 2010 and 2012 "World's Best Tasting Energy Drink" title, announced today its plans for 2015.
The Company has taken several steps towards rectifying problems that have continued to plague the Company in the past, including (i) the filing of the Form 15 with the SEC and our decision to alternately file with the OTC has greatly reduced our accounting and legal bills, as well as management's time and energies required to prepare these reports; (ii) reduction of all other operating expenses including personnel and salaries, (iii) payment arrangements have been made with most vendors and creditors, who for the most part have been understanding and willing to work with the Company; (iv) convertible debt which we were forced to accept has also been greatly reduced and could be eliminated in the first quarter of 2015; (v) we are vigorously proceeding with litigation against the parties responsible for causing great harm to our Company; and (vi) senior management has continued to fund the remaining Company obligations in the absence of sufficient revenues being generated.
We have been able to sell a major portion of our existing energy drink inventory. The sale of this product, although at a loss, has enabled us to eliminate costly storage fees and the risk of the product becoming outdated. Proceeds of this sale will enable us to pay-down some debt and allow us to explore new production and distribution opportunities. We plan to move forward to complete the development of a new proprietary functional beverage. The new product has the support of a prominent member of the medical community to do a clinical study at little cost to the Company. With adequate funding, which is not a certainty, we hope to have this product ready for market in 6-9 months.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed in this press release are forward-looking. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects" or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. Some of the factors that could cause actual results to differ materially from the forward looking statements contained herein include (i) the Company's ability to generate significant revenues from its new product line, (ii) the Company's ability to obtain adequate financing to achieve its business plan (iii) a decision by the Company's distributors to carry the Company's products (iv) acceptance by consumers of the Company new flavors and branding (v) launching of three new coffee drinks and re-ordering the new rebranded five energy drink flavors, and (vi) and other factors without limitation which are detailed in documents we file from time to time with the Securities and Exchange Commission, which are available at SEC.gov.