Baristas CEO Barry Henthorn Provides Company Update and Future Plans - Growth and NASDAQ Listing Highlighted
2015 Baristas Coffee Company, Inc. (OTCQB:BCCI), "Seattle's World Famous Costume Coffee" announced that its' CEO Barry Henthorn has provided a summary of the update given at last weeks shareholders meeting on the various aspects of the Baristas state of affairs and future plans.
Seattle, August 6, 2015 (Newswire.com) - Baristas Coffee Company, Inc. (OTCQB:BCCI), “Seattle’s World Famous Costume Coffee” announced that its’ CEO Barry Henthorn has provided a summary of the update given at last weeks shareholders meeting on the various aspects of the Baristas state of affairs and future plans.
Baristas has had a remarkable year to date and has accomplished several significant milestones that will allow the Company to further its growth and complete its listing on the NASDAQ Capital Markets. Most notably Baristas has completed audited financials, filed and gone effective with a registration statement with the SEC, and moved from a non-reporting Company trading on the Pink Sheets to a fully reporting Company that is now traded on the OTCQB. Baristas has also complied with virtually all corporate governance requirements recently establishing an independent board of directors and audit committee in preparation for up listing to the NASDAQ Capital Market. Baristas has also remained current in all filing requirements in order to position itself to complete its up listing. The Company has also established an infrastructure capable of meeting the increased reporting requirements associated with being traded on a senior exchange.
"Now that we have completed this undertaking that will allow our shareholders full transparency while providing the Company with access to capital on more favorable terms we are well positioned to move forward with our business objectives. We intend to utilize the capital to complete several acquisitions that have been on the horizon as well as targeting new acquisitions. In addition, we will be building our support systems for our franchisees and opening new company owned stores. We are now very confident in our ability to meet all of the requirements of the NASDAQ Capital Markets and we will continue to make that a primary goal for this year."
Barry Henthorn, CEO
Baristas CEO Barry Henthorn stated: “Now that we have completed this undertaking that will allow our shareholders full transparency while providing the Company with access to capital on more favorable terms we are well positioned to move forward with our business objectives. We intend to utilize the capital to complete several acquisitions that have been on the horizon as well as targeting new acquisitions. In addition, we will be building our support systems for our franchisees and opening new company owned stores. We are now very confident in our ability to meet all of the requirements of the NASDAQ Capital Markets and we will continue to make that a primary goal for this year.”
Baristas and its Master franchise partner BMOC have gleaned a significant amount information from the opening of its first two locations in malls in Pennsylvania. Currently there are four other locations that are slated to be opened that have signed leases or have secured spaces. The first NY location is intended to be opened by BMOC but managed by Baristas. Baristas will be taking a more active role in the defining and management of other locations to insure that the mall concept remains true to Baristas and BMOCs visions of “Baristas in the Mall”.
The single serve coffee products have been very well received by potential distributors in the US and the distributor representative in Mexico. Particular interest has been shown for the unique process that allows Baristas to produce white coffee single serve products that are unique in the market. Due to a change in compatibility requirements and trademarks of Keurig®, the world’s leader in single serve coffee and machines, Baristas elected to change its labeling to be in compliance and allow full compatibility with all Keurig® products including Keurig® 2.0. This change along with a refinement in the white coffee production process to increase margins led to a delay in the launching of the product. Now that Baristas has completed its regulatory and capital requirements it is now moving forward with the launch of its single serve coffee products in both North America and in Mexico. Baristas is also exploring distribution into Canada as well, but does not currently have any current relationships.
Baristas has identified a select group of acquisition targets ranging from single locations to multi-unit systems that it is now in a position to move forward with. Baristas is also considering acquiring complimentary businesses that will assist in aiding the supply chain such as regional roasters and other established retail brands and distribution systems.
About Baristas Coffee Company (BCCI): Headquartered in the Seattle area, Baristas Coffee Company, Inc. was formed to create a national brand of drive-thru espresso stands. BCCI is accomplishing this by acquiring established businesses that fit its model, opening new locations, and by franchising. Baristas has separated itself from the competition with its "theme" of joining attractive female baristas in entertaining costumes preparing the finest beverages available on the market. Baristas also now offers single serve for retail distribution. Baristas is also the subject of "Grounded in Seattle" a reality TV show that premiered on Oct. 11 2014 on WEtv (and can be viewed for a short time at http://youtu.be/NnTP58vbc1k). Grounded in Seattle takes an unprecedented and brutally honest look behind the scenes and into the lives of girls from a variety of backgrounds who work at Baristas. Baristas can currently be found in seven greater Seattle area locations as well as in Florida, and Montana. Your state, coming soon!
For more information on Baristas visit us at: www.baristas.tv
For Investor Relations Contact:
Barry Henthorn
barry@baristas.tv
(206)579-0222