High Performance Beverages Co (OTCMKTS:TBEV) has reported additional shipments of High Performance Sports beverages to Amazon.com, Inc. and the closure of its trial with Overtime Marketing SE, LLC.
The highlights
Over the last few weeks, High Performance Beverages has recorded peek interest in its sports beverage resulting in additional incidents being sent to Amazon so as to fulfill expected order demands. Around 500 cases have been sent in this week indicating the maximum amount that online retailer will hold in its warehouses as inventory.
However, the firm is currently planning to have Amazon expand its inventory allowance to numerous thousand cases so as to maintain better inventory levels at all times. It will also prevent stock from selling out, as it had been recorded before. This measure will help company to lower shipping costs since the good is distributed to many regional Amazon warehouses in the country.
Moreover, as announced, High Performance Beverages finalized an exclusive License contract with Pro Prom Mexico for Central America, South America and Mexico. The two entities are working on settling documentation with Pro Proms in order to begin their first production run.
Upon the commencement of Mexico’s preliminary production run in this month, the firm intends to re-focus its measures into the sales and distribution of its High Performance Sports beverage in retail outlets across the United States.
High Performance Beverages reported that it has closed the ongoing trial with Overtime Marketing SE, LLC; however, it denied to reveal the settlement amount. So far, all terms of the deal have been fulfilled with the settlement amount done to Overtime Marketing.
The management view
Toby McBride, the CEO of High Performance, said that it is an exciting period for company. Since the confirmation of their exclusive License deal with Pro Prom, they have ignited additional interests for drink and look forward to discovering additional prospects that will get beverage on to retail outlets in the United States and abroad.
He added that they are also extremely delighted to report the end of ongoing case with Overtime Marketing SE and in their ability to close the litigation in full with no additional obligations.
