Minerco Resources, Inc. (OTCQB: MINE), the parent company of Level 5 Beverage Company, Inc., a specialty beverage company which develops, produces, markets and distributes a diversified portfolio of all-natural and highly functional brands, reduced its short term liabilities by approximately $1,000,000 (over 75% reduction) and provides update on VitaminFIZZ® revitalization and CoffeeBoost™ expansion.
As documented in Minerco's filings with the Securities and Exchange Commission, the Company has drastically, and significantly, cleaned up its Balance Sheet by reducing its short term debt obligations (mostly in form of Convertible Promissory Notes) by approximately $1,000,000. This reduction in short term debt represents over a 75% reduction in the Company's short term debt.
The VitaminFIZZ® launch and CoffeeBoost™ expansion will directly benefit from the reduction of short term debt, and our other Brands and partnerships will also benefit from our improved and advantageous financial health. In addition, many other potential, future partners have taken notice of our accomplishments.
VitaminFIZZ® has been completely re-vitalized in both packaging and formulation by our world class package designers, beverage experts and advisory board. The imminent bi-coastal launch will commence in New York City (June, 2014) and will be available in Southern California soon thereafter. The VitaminFIZZ® Twitter and Facebook pages have gone live at:
Let us know what you think of the new and re-vitalized VitaminFIZZ®. The new VitaminFIZZ® website will be unveiled soon. Watch for updates on our Twitter and Facebook pages.
CoffeeBoost™, the boosted formula in all flavors, will be released at the same time as the new bottles of VitaminFIZZ®. We continue to pursue partnerships for the next generation of CoffeeBoost™ and have made substantial progress. In fact, due to our market traction, multiple new distributors have been forced to decline representation of CoffeeBoost™ and RISE™ at the explicit request or demand of Living Essentials. While this is slightly inconvenient for Level 5, we are honored to have attracted the attention of the category leader.
V. Scott Vanis, the Chairman of the Company, said, "It has always been one of our top priorities to get our Balance Sheet in order to truly solidify our foundation. While we still have lots of work to do, we are well on our way to being a fundamentally sound company. With the anticipated sales of VitaminFIZZ® and CoffeeBoost™, the expected income from our other partnerships and our move away from Convertible Promissory Notes; we are very excited about our current position and, more importantly, our future. Our management, our products and our shareholders are exceptional. Together, we plan to have many more take notice. The launch of VitaminFIZZ® in New York City is now measured in days, not months. As always, we will keep our shareholders and consumers updated as events unfold."
VitaminFIZZ® is a lightly sparkling, flavor-filled, refreshing beverage with an awesome boost of essential vitamins developed to quench your thirst, naturally. VitaminFIZZ® is caffeine free, is Non GMO, has zero calories and contains 100% of recommended daily Vitamin C. Awaken your taste buds. Now that's refreshing.
Details of the Company's business, finances and agreements can be found as part of the Company's continuous public disclosure as a fully reporting issuer under the Securities Exchange Act of 1934 filed with the Securities and Exchange Commission's ("SEC") EDGAR database. For more information, please visit: www.minercoresources.com.
The above statements have not been evaluated by the Food and Drug Administration (FDA). These products are not intended to diagnose, treat, cure or prevent any disease.
Safe Harbor Statement
This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Act of 1934 that are based upon current expectations or beliefs, as well as a number of assumptions about future events. Although we believe that the expectations and assumptions upon which they are based are reasonable, we can give no assurance that such expectations and assumptions will prove to have been correct. Some of these uncertainties include, without limitation, the company's ability to perform under existing contracts or to procure future contracts. The reader is cautioned not to put undue reliance on these forward-looking statements, as these statements are subject to numerous factors and uncertainties, including without limitation, successful implementation of our business strategy and competition, any of which may cause actual results to differ materially from those described in the statements. We undertake no obligation and do not intend to update, revise or otherwise publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of any unanticipated events. Although we believe that our expectations are based on reasonable assumptions, we can give no assurance that our expectations will materialize. Many factors could cause actual results to differ materially from our forward-looking statements.
Minerco Resources, Inc.
V. Scott Vanis
SOURCE: Minerco Resources, Inc.