Nevada / ACCESSWIRE / May 23, 2014 / Top Shelf Brands Holdings Corp., (a Nevada Corporation) (OTCBB: TEMN), an emerging distributor of distilled spirits and herbal infused spirits would like to update shareholders on its recent progress.
Several shareholders have asked about the status of the case in Florida regarding the illegal issuance of stock and preferred securities brought by the plaintiffs. We filed a motion for summary judgment on May 1, 2014 and waited the requisite 20 days for the plaintiffs to respond. Upon receiving no response, protocol states that we request a summary judgment hearing in order to put closure on the illegal issuance of stock. The final hearing has been set for August 14, 2014 which was the earliest open date on the docket.
Separately, Top Shelf Brands Holdings Corp. has been cooperating with FINRA and has recently been in contact in order to finally receive clearance for the new stock symbol. We are also working with DTC to have any and all chills removed.
Lastly, and most importantly, we want to make it clear that this legal case has not and will not prevent us from moving our business plan forward. We have been aggressively executing our business plan and will continue to do so. We have previously announced the acquisition of several brands that we will be bringing to market shortly and are actively pursuing additional brands to add to our portfolio. We are in advanced discussions regarding such new acquisitions and will update the market in a timely manner on our progress. We will also update the market on our initial launch of the products we have already acquired. This is truly an exciting time for Top Shelf Brands Holdings Corp.
"We are looking forward to finally getting closure on the illegal activities that occurred with prior management. The legal process has not interfered with our business plan and we are still on track to launch our new highly anticipated tequila mark by August, 2014. We believe our herbal infused Besado Tequila mark will be an immediate success and a game changer. We have received overwhelmingly positive response from our distributor relationships; they are eagerly waiting for the product rollout. Additionally, we have projected triple digit revenue growth annually over the next several years starting with the introduction of five new innovative spirits. We have sufficient working capital in place to meet our aggressive growth projections." Mr. Pierce continued to state, "We have been working closely with FINRA over the last few weeks and expect to get the symbol changed and have been working with DTC to remove the chill. Upon the removal of the chill we will file all of the necessary paperwork which has already been completed to become a fully reporting OTCQB status.
Top Shelf Brands Holdings Corp. (“TSB”) incubates, creates, markets and supplies branded alcoholic beverages with an initial offering of Tequila, Liqueur and Bourbon. Being a federally licensed importer and supplier of alcoholic beverages gives us a competitive edge. TSB is dedicated to "Incubating and Creating Brands People Talk About". TSB is positioned to capitalize on the $1 trillion spirits industry. Strong growth in the industry is anticipated primarily in the premium category.
Top Shelf Brands Holdings Corp.
This news release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. When used in this release, words such as "estimate," "expect," "anticipate," "projected," "planned," "forecasted" and similar expressions are intended to identify forward-looking statements, which are, by their very nature, no guarantees of Top Shelf Brands Holdings Corp.’s future operational or financial performance, and are subject to risks and uncertainties. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Due to the risks and uncertainties, actual events may differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Top Shelf Brands Holdings Corp.