DNA Brands Inc (OTCMKTS:DNAX) shares were flat on Monday at $0.00010 and also unchanged in after-hours trading. The company has a market cap of $700,000 at 5.05 billion shares outstanding. Share prices have been trading in a 52-week range of $0.00 to $0.00.
DNA Brands Inc is a company that produces, markets and sells carbonated blends of energy drinks in the United States and offers its products under the DNA Energy Drink brand name. Its products include Citrus, Sugar Free Citrus, Original, Cryo-Berry and Molecular Melon.
Original is a combination of Red Bull and Monster energy drinks. Cryo-Berry is a mix of cranberry and raspberry. It also offers three milk based energy coffees fortified with Omega 3 in various flavors, such as Mocha, Vanilla Latte and Carmel Macchiato. DNA Brands Inc distributes its products through non-alcoholic distributors to convenience stores and independent grocers in Florida, Georgia, Louisiana, Mississippi, Ohio, Pennsylvania and Michigan. On Monday, DNA Brands Inc provided a shareholder update, along with its plans for 2017.
I have been CEO of DNA Brands now for nearly 10 months, and during this time there have been various challenges to contend with relating to administrative affairs, as well as obligations incurred by prior management,” stated Adrian McKenzie.
First off, the company addressed the redesign of its website. McKenzie shared that they hired an IT professional who is now in charge of redesigning and administrating the company’s website from this point forward. He cautioned that the email server is down for the meantime but should be fully-functional and online once it’s completely updated. He added that the company is also actively looking for a new office-warehouse facility for its planned relaunch and subsequent distribution of its energy drink line.
In our search for the ideal location, I am currently looking to find a fully climate-controlled, office-warehouse facility strategically located close to the I-95 corridor in South Florida. This will allow us not only a more cost effective means of transport, but also quick access to and from DNA Brands Inc. The main reasons for having a fully climate-controlled facility are: First we need to keep our product in a stable cool environment, and secondly provide comfort for future staff. I am 100% sure that this will be accomplished by the end of this month,” McKenzie explained.
The company also retained a consultant whose expertise lies in the construction of micro-cap companies and building retail distribution. DNA Brands Inc relaunched of some Favorite Energy Drink flavors back into production for next year. In the end, McKenzie reiterated that they’ve dealt with several management issues in the past and has even considered an LOI but eventually thought that it wouldn’t be in the best interest of the company.
My goal for DNA Brands Inc is to make it into a successful drink company and that is exactly what I intend to do, through relaunch, growth, and acquisitions. I am confident that as we begin production in the very near future, the company and its shareholders will be positioned to benefit. It is realistic to state that it will take time to achieve specific milestones, but my plan is to do so step-by-step and to do it correctly. I want to thank my shareholders who have been loyal to DNA Brands, and look forward to 2017 as being a very good year for our company as we make strides to put the DNA Energy Drink back into the marketplace where it belongs,” he concluded.
DISCLAIMER: There is a substantial risk of loss with any speculative asset, especially small cap stocks. The opinions expressed are those of the author, and do not constitute recommendations to buy or sell a stock. Do your own research before committing capital.