Splash Beverage Group (SBEV) recent NobleCon18 Presentation with CEO Robert Nistico
We have something really exciting for tomorrow’s session.
Our Profile is Splash Beverage Group Inc (NYSE: SBEV)
SBEV has a compelling chart setup: this is a NYSE listed Company that was trading at $5.50 per share earlier this year. The stock hit a low of $1.70 in June and has been moving steadily northbound since recently moving over $3 per share.
Splash Beverage Group Inc (NYSE: SBEV), an innovator in the beverage industry, owns a growing portfolio of alcoholic and non-alcoholic beverage brands including Copa di Vino wine by the glass, SALT flavored tequilas, Pulpoloco sangria, and TapouT performance hydration and recovery drink. Splash’s strategy is to rapidly develop early-stage brands already in its portfolio as well as acquire and then accelerate brands that have high visibility or are innovators in their categories. Led by a management team that has built and managed some of the top brands in the beverage industry and led sales from product launch into the billions, Splash is rapidly expanding its brand portfolio and global distribution. Splash has license rights to the TapouT Performance brand globally and has a joint venture with SALT Naturally Flavored Tequila, and Copa Di Vino wines & Pulpoloco sangrias, SBG’s first acquisition.
SALT Flavored Tequila
SBEV believes SALT is the first line of 100% agave 80-proof flavored tequilas. SALT is already distributed to major brands such as Walmart and Total Wine, the largest private wine and spirits chain in the U.S. The SALT brand was also a huge hit in Mexico, which lead to the decision of launching SALT in more South American countries in 2021.According to the research of ImarcGroup, the global tequila market had a value of 10.8 billion USD in 2020 and is set to grow at a CAGR of 14.4% in the coming 5 years.The Company produces, distributes, and markets the following flavors under the brand name SALT Naturally Flavored Tequila:
SALT is currently being distributed by Republic National Distribution Co., Youngs Market, various Anheuser-Busch & Miller-Coors distributorships, and Major Brands Distribution Company, a wine and spirits distributor in the Mid-West to chains such as Walmart and Total Wine (which is the largest private wine and spirits chain in the U.S.), and others in multiple U.S. states. Additionally, SALT is for sale in Mexico. Several South American countries are expected to launch SALT during spring 2022. SALT is a business venture between SBEV and SALT USA, LLC. All aspects of manufacturing, logistics, distribution and marketing are the Company’s responsibility.
TapouT Performance Isotonic Sports Drinks
Splash Beverage has the rights under a License Agreement to sell performance beverages under the brand name “TapouT“. TapouT, formally associated with the UFC, has been producing branded clothing for over 23 years and has gained a high-level brand awareness over these years. Furthermore, the team, led by the skilled nutritionist chief Sanjeev Javia, worked a full year on selecting the perfect combination of nutrients for the ideal high-performance drink (Source: SEC). This resulted in a performance drink that contains more vitamins, minerals, electrolytes, and fewer sugar and calories than its competitors’ drinks. This 100% natural sports drink aligns well with consumers’ demand for a healthier lifestyle. The company also claims that even with this many nutrients, they spent a lot of time making sure that the drink tastes good as well, which reviewers agree on (Source 1, Source 2). Another key competitive strength of the TapouT brand is its partnership with WWE. This gives the brand exposure to over 10 million WWE fans in the U.S.(Source: Corporate WWE). Splash Beverage pays a 6% royalty of sales and the license agreement will expire at the end of 2022, according to its S-1 Filing. TapouT sells the following flavors:
TapouT Elite: Under consideration for 2022
TapouT Energy: Under consideration for 2022
TapouT Performance Mango Flavor: Under consideration for 2022
TapouT Performance is a unique advanced performance beverage containing ingredients known for recuperative and cell regeneration which promotes better absorption of nutrients, increase hydration and cellular recovery. It is exclusively formulated with GRAS (FDA Designation “Generally Regarded As Safe”) ingredients versus controversial ingredients often used in many competitive products. It can be taken before, during or after activity to enhance activation, hydration, and recovery. TapouT Performance is all natural and is balanced with a proprietary blend of 5 electrolytes, amino acids and a proprietary specialized ingredient blend of minerals and nutrients.
Copa di Vino Wine Group, Inc.
Copa di Vino is the leading producer of premium wine by the glass in the United States. Founder James Martin discovered the concept on a bullet train adventure through the south of France. A year later he brought the technology to his hometown of The Dalles, Oregon located in the Columbia River Gorge. His passion for wine led to Copa di Vino – wine in a glass – a ready to drink wine glass that could go anywhere without the need for a bottle, corkscrew or glass.
Through its acquisition of Copa di Vino Corporation, SBEV is able to offer seven varietals of wine: Pinot Grigio, Riesling, Merlot, Chardonnay, White Zinfandel, Moscato, and Cabernet Sauvignon. In addition to its wine varietals, Copa di Vino also procures Pulpoloco, a sangria which is encased in a 100% biodegradable can made from paper, from Spain. The exclusive rights to this packaging we conveyed to SBG as a result of the acquisition.“Copa Di Vino” was able to acquire Copa Di Vino from James Martin, who infamously declined offers twice for this concept on Shark Tank. Copa Di Vino, rose to national fame for its “wine by the glass” concept: a convenient ready-to-drink wine glass that can be taken everywhere without having to carry a bottle, corkscrew, or glass.
In addition to its wine, Copa di Vino also produces “Pulpoloco“, a sangria that is encased in a 100% biodegradable can, made from paper. The right to this paper can is a unique asset as none of the competitors in the U.S. has it. Not only does it align with customer trends for environmental-friendly products, but the paper can is also significantly cheaper at 8 cents, compared to 32 cents for aluminum cans (Source: Emerging Growth Conference 11).
Pulpoloco Sangria is made in Madrid, Spain following the family recipe of the founder Paul Damon with three varietals, Crisp White, Soft Rose’, and Smooth Red. Pulpoloco is packaged in a highly innovative, ecofriendly paper can called the CartoCan. Splash expects to complete the transaction by the end of August.
Splash acquired the distribution rights to Pulpoloco in 2020 and more recently acquired an 80% stake of Pulpoloco. Splash has overseen the dramatic growth of the brand, including a 43% increase in sales through May versus the prior year.
“Qplash” is the Company’s consumer-packaged goods retail division and its first entry point into the growing e-commerce channel. The division sells beverages and groceries online through www.qplash.com, and third-party storefronts such as Amazon.com and Walmart.com. Inside of the division, there are two primary customer groups: business to business retail businesses, which in turn offer the products to their customers, and business to customer, selling direct to end users.
Qplash sells to retailers through www.qplash.com. These retailers, generally in the high-end apparel space, buy beverages from Qplash and provide them to their customers in store to enhance their shopping experience. They offer high end beverages for customers to enjoy while shopping or to take on the go. This program allows businesses to control inventory, order with payment terms, and offers the convenience of delivery directly to each store. Currently the Company offers over 350 listings and has warehouses that ship from both California and Pennsylvania. Qplash objective is to offer 1,500 items by the fall of 2022.
Legacy Business – Canfield Medical Supply, Inc.
Canfield Medical Supply, Inc. (“CMS”) is a provider of home medical equipment, supplies and services (which relate to the equipment sales) in Ohio’s Mahoning Valley, Western Pennsylvania and Northern West Virginia, with an emphasis on providing for patients with mobility-related limitations who have had strokes, hip or knee replacements, and other surgeries after they are discharged from a hospital or rehab center. Canfield is a legacy segment of the business and in December 2020, management announced our plan to discontinue CMS and will execute the business transfer agreement in the second Quarter of 2022.
Splash Beverage Group Reports Record First Quarter 2022 Financial Results Revenues Increase 86% Year over Year with $4 Million in Gross Sales as Company Signs 12 New or Expanded Distribution Agreements
Fort Lauderdale, Florida, May 16, 2022 (GLOBE NEWSWIRE) — Splash Beverage Group, Inc. (NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of leading beverage brands, today reported financial results for the first quarter period ended March 31, 2022. Investors are encouraged to read the Company’s quarterly report on Form 10-Q which was filed with the Securities and Exchange Commissions (the “SEC”), contains additional information, and is posted at https://splashbeveragegroup.com/.
First Quarter Financial Performance
Gross sales for the first quarter were $4.1 million compared to $2.2 million in the prior year period, an increase of 86% over the prior year period. The increase in revenue were primarily due to increased sales from the single-serve wine business and increases in B2B and B2C ecommerce sales.
Company reports twelve new or expanded distribution/sales agreements with distributors or retailers.
Gross profit for the first quarter was $832K compared to $517K in the prior year period.
First quarter net loss from continuing operations was $5.7 million compared to $4.5 million in the prior year period. The increased difference was primarily due to expenses relating to non-cash items, share-based compensation, and increased marketing costs.
As of March 31, 2022, the company had total cash and cash equivalents of $8.5 million, compared with $4.2 million at December 31, 2021.
Robert Nistico, Splash Beverage Group’s Chairman and CEO, commented, “Our 2022 first quarter results demonstrate how we are effectively executing our business strategy of acquiring and expanding undervalued beverage brands within our growing distribution system. Since our announcement in November 2021, when we reported our transformational agreement with AB ONE distributors, we have added 15 new distribution agreements, with 12 agreements in the first quarter alone. This has helped drive gross sales growth to a record $4.1 million in the first quarter, a significant increase over the prior year period as well as strong sequential growth from the fourth quarter of 2021. These agreements include TapouT Performance Drink where we will see the impact in Q2 as it takes time to set up and physically ship to new distributors.
“During the first quarter we also significantly strengthened our balance sheet with an $8 million capital raise under our existing shelf registration statement. The cash provided from this offering will help finance our ongoing operations and inventory needs to fuel future growth needs. At the end of the quarter, we still had more than $8 million in cash and less than $1 million in long term liabilities. We believe we are well positioned to benefit from the strong growth of the categories we compete in and consumer acceptance.”
One of Splash Beverages key advantages is their management team: Robert Nistico, the CEO of Splash Beverage, is a beverage industry veteran with over 28 years of experience. He was the 5th employee at Red Bull North America and was General Manager at the company for 10 years and helped them to take the annual revenue from zero to 1.6 billion USD, according to its S-1 Filing. Sanjeev Javia is Chief Nutritionist and product formulator for Splash Beverage. He is one of the country’s top nutritionists and has written over 600 nutritionist plans for high-level professional athletes, such as Tom Brady, Kurt Warner, and many Olympic athletes. Other members of the executive management team also bring in decades of experience at extremely large and successful beverage companies. The company claims to have over 120 years of combined experience in the beverage industry, at companies such as Gallo, Red Bull, Bacardi, Diageo, Sparkling Ice.
A lot of new single beverage brands have limited access to distribution and thus find it very difficult to obtain a significant retail shelf presence.With the presence of the management’s network, the company has already established a strong distribution network through global sales channels and long-term relationships with retailers. Furthermore, its hybrid distribution model provides various paths to market, including national chains, independent local markets, and regional chains, and specialty food and C-Stores. Moreover, with its new platform “Qplash”, the company reaches B2B and B2C directly online through qplash.com, amazon.com, and walmart.com.
SBEV is operating in the booming, fast growing Ready-to-Drink Beverages market estimated to gain a valuation of US$ 169.5 Bn by 2032, according to a Transparency Market Research (TMR) Study.
WILMINGTON, Del., July 12, 2022 /PRNewswire/ — The global ready-to-drink beverages market is estimated to register growth at a CAGR of 6.6% during the forecast period from 2022 to 2032, states an assessment report by Transparency Market Research (TMR).
Consumers today are increasing the adoption of healthier refreshing beverages manufactured using versatile ingredients, states a TMR report on the global ready-to-drink beverages market. Moreover, the demand for ready-to-drink beverages is increasing as these products are easily available. These factors are resulting into growth prospects for ready-to-drink beverages market. Read the full report here.
SBEV NEWS OUT TODAY!
Splash Beverage Group Announces Agreement with UNFI to Distribute TapouT Through Southeastern Grocers, Inc. Across Five Southeastern U.S. States
UNFI is the largest publicly traded wholesale distributor delivering healthier food options to people throughout the United States and Canada. UNFI distributes to over 250,000 natural, organic and conventional products to more than 30,000 customers including natural product superstores, independent retailers, conventional supermarket chains, ecommerce retailers and food service industry.
“We are absolutely thrilled to have reached an agreement with UNFI to distribute TapouT through its network. UNFI’s authorization of TapouT is a testament to its all-natural ingredients and clean label. UNFI maintains high standards resulting from their massive natural-foods customer base. The initial 515 Winn Dixie stores represent a significant increase in our distribution reach and opens the door to significantly more UNFI locations, both natural grocery chains and traditional retail locations. This provides needed incremental distribution coverage to the DSD network we’re building throughout the US. This is a major milestone in our strategic growth plan and gives us an advantage over the competition as we can now start to penetrate the natural food channel in earnest.”
SBEV has a compelling chart setup:this is a Amex listed Company that was trading at $5.50 per share earlier this year. The stock hit a low of $1.70 in June and has been moving steadily northbound since recently moving over $3 per share.
SBEV Recent News:
Splash Beverage Group Extends Distribution in Arizona with 86 Retail Locations Across Three Convenience Store Chains
Fort Lauderdale, Florida, July 19, 2022 (GLOBE NEWSWIRE) — Splash Beverage Group, Inc. (NYSE American: SBEV) (“Splash” or the “Company”), a portfolio company of leading beverage brands, today announced that it has extended the distribution of TapouT through agreements with three separate convenience store chains across Arizona. All four SKUs of TapouT Performance Drinks will now be available in CobbleStone AutoSpa locations, Carioca Convenience Stores and all of the 4-Sons Convenience Store locations.
Cobblestone, Carioca Convenience Stores and 4 Sons Convenience Stores manage restaurants and fueling / service stations across Arizona. In total, TapouT will now be available in an addition 86 high-traffic locations.
Robert Nistico, Splash Beverage Group’s Chairman and CEO, commented, “These three agreements place TapouT in an additional 86 premium high-volume locations across Arizona and come directly out of our partnership with Kalil Bottling. This is the blocking and tackling, chain by chain, large and small that builds brands, having distribution partners who understand this and know how to execute is invaluable. Kalil is of course one of the top distribution companies in the entire western U.S., and their support and reputation were critical in helping us secure these agreements along with other high-end grocery chains already announced. We believe the “cold-bottle” availability will be a significant driver of consumer acceptance and growth for TapouT. TapouT is best consumed cold, and as consumers visit these convenience stores during their daily routines, they will often grab a cold drink and consume it immediately after purchase. This represents another successful branch of our retail strategy and we’re grateful to Kalil for their support and we look forward to further growing our brands awareness with them.”
Robert Nistico is Chairman & CEO of Splash Beverage Group. A 28-year beverage industry veteran, Robert was the fifth employee and VP/General Manager for Red Bull North America, where he led the start-up from zero sales to $1.45 billion. Robert is the founder and CEO of Marley Beverages and was responsible for framing out the long term vision for the company. Earlier in his career, Nistico held executive positions with Diageo and Gallo. A highly motivated, results-driven, creative, and passionate leader with an entrepreneurial spirit and the highest of standards, he has delivered outstanding results in small private start-ups as well as global public environments. His experience has included direct and indirect sales management, strategic brand marketing, production,
co-packing, packaging, budgeting, forecasting, profit and loss management, financial modeling, operations and logistics. Robert serves on the Board of Apollo Brands in Dallas, Texas, and holds an Advisory Board position with Transition Capital Partners, LLC (a private equity firm), also in Dallas.
William Meissner is President and Chief Marketing Officer of Splash Beverage Group. A proven leader with more than twenty years of success in growing consumer brand companies with both large multinational and medium sized entrepreneurial organizations, Meissner’s expertise includes multiple CEO roles revamping both healthy and distressed companies. Building and restoring brand value has been a hallmark of his leadership history. Prior to joining SBG, Meissner served as President and Chief Executive Office for Sweet Leaf and Tradewinds Tea, a premium beverage vertical designed to build emerging brands, Chief Executive Officer for Genesis Today, Inc. a leader in the organic nutritional supplements category, Chief Executive Officer of Tazza Pronto a joint venture between Distant Lands Coffee, Inc. and Caffita Systems SPA, Chief Executive Officer of Jones Soda, President of Talking Rain Beverages, Chief Marketing Officer of Fuze & NOS Beverages (Coca-Cola), Brand Director of SoBe Beverages (Pepsi-Co) and Nutritional Category Manager at Tetra Pak, USA Inc.
Sanjeev Javia, VP, Product Development for Splash Beverage Group. He is the founder and President of Javia Wellness Group, a firm that focuses on innovative research, formulation and design of nutritional exercise and wellness initiatives. As a sports nutrition expert, Sanjeev’s work with Splash Beverage Group is developing innovative functional beverages with health benefits for the consumer. Since 2000, Sanjeev has advised some of the world’s most elite athletes on fitness and nutrition. His client list includes Super Bowl MVPs Tom Brady and Kurt Warner, Cy Young Award Winners Curt Schilling and Randy Johnson, Stanley Cup Champions Marty Turco and Brendan Morrow, Olympic Gold Medalists Brianna Scurry and Caroline LaLive and PGA Golfers Tom Pernice Jr. and Suzanne Pettersen.
Aida Aragon serves as S.V.P. of National Accounts for Splash Beverage Group and is a Sales, Marketing and Brand Management Executive with years of experience in the sports supplement and beverage industry.
Ms. Aragon possesses sales marketing experience, spending a few years in positions in the sports beverage industry. Working with companies like EAS, CytoSport (Muscle Milk) and Labrada. She has played a pivotal role in executing successful store rollouts in specialty stores as well as in food, drug and mass retailers. Her passion in brand development has always been second nature but her main focus is to increase sales for some of the leading brands in the sports nutrition industry. Aida has owned her own consulting firm, Verdi Consulting, for the last six years developing brands and assisting in strategy and new business development. Her latest venture as VP of National Accounts for Splash Beverage Group has afforded her limitless opportunities to increase brand awareness within major national grocery and convenient store chains. Her main purpose is to develop a brand that will make a significant difference in people’s lives and increase their over all well being. “My mission is to empower people with tools to better their health and to set their body for the best quality of life possible for many years to come.”
Aida Aragon embodies a lifetime of passion for the health and fitness industry. The dedication was evident with a successful history of competing in Fitness Competitions and becoming an EAS sponsored athlete in 2002. The partnership with EAS would pave the way for a new career alongside one of the industry’s top brands. She obtained her International Federation of Body Building & Fitness (IFBB) Pro Figure Card in 2005 at the New York Figure Nationals and retired from competitions to continue her career in sports supplements. “These relationships are invaluable as we penetrate this influential channel of distribution”
THIS WEBSITE/NEWSLETTER IS A WHOLLY OWNED SUBSIDIARY OF ONE22 MEDIA, LLC, HEREIN REFERRED TO AS O22, LLC
OUR REPORTS/RELEASES ARE A COMMERCIAL ADVERTISEMENT AND ARE FOR GENERAL INFORMATION PURPOSES ONLY. WE ARE ENGAGED IN THE BUSINESS OF MARKETING AND ADVERTISING COMPANIES FOR MONETARY COMPENSATION. WE HAVE BEEN COMPENSATED A FEE OF TWELVE THOUSAND FIVE HUNDRED USD FOR A ONE DAY SBEV AWARENESS CAMPAIGN BY A THIRD PARTY, AWARENESS CONSULTING NETWORK, LLC. NEVER INVEST IN ANY STOCK FEATURED ON OUR SITE OR EMAILS UNLESS YOU CAN AFFORD TO LOSE YOUR ENTIRE INVESTMENT. THE DISCLAIMER IS TO BE READ AND FULLY UNDERSTOOD BEFORE USING OUR SERVICES, JOINING OUR SITE OR OUR EMAIL/BLOG LIST AS WELL AS ANY SOCIAL NETWORKING PLATFORMS WE MAY USE.PLEASE NOTE WELL: O22 LLC AND ITS EMPLOYEES ARE NOT A REGISTERED INVESTMENT ADVISOR, BROKER DEALER OR A MEMBER OF ANY ASSOCIATION FOR OTHER RESEARCH PROVIDERS IN ANY JURISDICTION WHATSOEVER.RELEASE OF LIABILITY: THROUGH USE OF THIS WEBSITE VIEWING OR USING YOU AGREE TO HOLD O22, LLC, ITS OPERATORS OWNERS AND EMPLOYEES HARMLESS AND TO COMPLETELY RELEASE THEM FROM ANY AND ALL LIABILITY DUE TO ANY AND ALL LOSS (MONETARY OR OTHERWISE), DAMAGE (MONETARY OR OTHERWISE), OR INJURY (MONETARY OR OTHERWISE) THAT YOU MAY INCUR. THE INFORMATION CONTAINED HEREIN IS BASED ON SOURCES WHICH WE BELIEVE TO BE RELIABLE BUT IS NOT GUARANTEED BY US AS BEING ACCURATE AND DOES NOT PURPORT TO BE A COMPLETE STATEMENT OR SUMMARY OF THE AVAILABLE DATA. O22 LLC ENCOURAGES READERS AND INVESTORS TO SUPPLEMENT THE INFORMATION IN THESE REPORTS WITH INDEPENDENT RESEARCH AND OTHER PROFESSIONAL ADVICE. ALL INFORMATION ON FEATURED COMPANIES IS PROVIDED BY THE COMPANIES PROFILED, OR IS AVAILABLE FROM PUBLIC SOURCES AND O22, LLC MAKES NO REPRESENTATIONS, WARRANTIES OR GUARANTEES AS TO THE ACCURACY OR COMPLETENESS OF THE DISCLOSURE BY THE PROFILED COMPANIES. NONE OF THE MATERIALS OR ADVERTISEMENTS HEREIN CONSTITUTE OFFERS OR SOLICITATIONS TO PURCHASE OR SELL SECURITIES OF THE COMPANIES PROFILED HEREIN AND ANY DECISION TO INVEST IN ANY SUCH COMPANY OR OTHER FINANCIAL DECISIONS SHOULD NOT BE MADE BASED UPON THE INFORMATION PROVIDED HEREIN. INSTEAD O22, LLC STRONGLY URGES YOU CONDUCT A COMPLETE AND INDEPENDENT INVESTIGATION OF THE RESPECTIVE COMPANIES AND CONSIDERATION OF ALL PERTINENT RISKS. READERS ARE ADVISED TO REVIEW SEC PERIODIC REPORTS: FORMS 10-Q, 10K, FORM 8-K, INSIDER REPORTS, FORMS 3, 4, 5 SCHEDULE 13D.O22, LLC IS COMPLIANT WITH THE CAN SPAM ACT OF 2003. O22, LLC DOES NOT OFFER SUCH ADVICE OR ANALYSIS, ANDO22, LLC FURTHER URGES YOU TO CONSULT YOUR OWN INDEPENDENT TAX, BUSINESS, FINANCIAL AND INVESTMENT ADVISORS. INVESTING IN MICRO-CAP AND GROWTH SECURITIES IS HIGHLY SPECULATIVE AND CARRIES AND EXTREMELY HIGH DEGREE OF RISK. IT IS POSSIBLE THAT AN INVESTORS INVESTMENT MAY BE LOST OR IMPAIRED DUE TO THE SPECULATIVE NATURE OF THE COMPANIES PROFILED.THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES INVESTORS A SAFE HARBOR IN REGARD TO FORWARD-LOOKING STATEMENTS. ANY STATEMENTS THAT EXPRESS OR INVOLVE DISCUSSIONS WITH RESPECT TO PREDICTIONS, EXPECTATIONS, BELIEFS, PLANS, PROJECTIONS, OBJECTIVES, GOALS, ASSUMPTIONS OR FUTURE EVENTS OR PERFORMANCE ARE NOT STATEMENTS OF HISTORICAL FACT MAY BE FORWARD LOOKING STATEMENTS. FORWARD LOOKING STATEMENTS ARE BASED ON EXPECTATIONS, ESTIMATES, AND PROJECTIONS AT THE TIME THE STATEMENTS ARE MADE THAT INVOLVE A NUMBER OF RISKS AND UNCERTAINTIES WHICH COULD CAUSE ACTUAL RESULTS OR EVENTS TO DIFFER MATERIALLY FROM THOSE PRESENTLY ANTICIPATED. FORWARD LOOKING STATEMENTS IN THIS ACTION MAY BE IDENTIFIED THROUGH USE OF WORDS SUCH AS PROJECTS, FORESEE, EXPECTS, WILL, ANTICIPATES, ESTIMATES, BELIEVES, UNDERSTANDS, OR THAT BY STATEMENTS INDICATING CERTAIN ACTIONS & QUOTE; MAY, COULD, OR MIGHT OCCUR. UNDERSTAND THERE IS NO GUARANTEE PAST PERFORMANCE WILL BE INDICATIVE OF FUTURE RESULTS.IN PREPARING THIS PUBLICATION,O22, LLC HAS RELIED UPON INFORMATION SUPPLIED BY ITS CUSTOMERS, PUBLICLY AVAILABLE INFORMATION AND PRESS RELEASES WHICH IT BELIEVES TO BE RELIABLE; HOWEVER, SUCH RELIABILITY CANNOT BE GUARANTEED. INVESTORS SHOULD NOT RELY ON THE INFORMATION CONTAINED IN THIS WEBSITE. RATHER, INVESTORS SHOULD USE THE INFORMATION CONTAINED IN THIS WEBSITE AS A STARTING POINT FOR DOING ADDITIONAL INDEPENDENT RESEARCH ON THE FEATURED COMPANIES. THE ADVERTISEMENTS IN THIS WEBSITE ARE BELIEVED TO BE RELIABLE, HOWEVER, O22, LLC AND ITS OWNERS, AFFILIATES, SUBSIDIARIES, OFFICERS, DIRECTORS, REPRESENTATIVES AND AGENTS DISCLAIM ANY LIABILITY AS TO THE COMPLETENESS OR ACCURACY OF THE INFORMATION CONTAINED IN ANY ADVERTISEMENT AND FOR ANY OMISSIONS OF MATERIALS FACTS FROM SUCH ADVERTISEMENT. O22, LLC IS NOT RESPONSIBLE FOR ANY CLAIMS MADE BY THE COMPANIES ADVERTISED HEREIN, NOR IS O22, LLC RESPONSIBLE FOR ANY OTHER PROMOTIONAL FIRM, ITS PROGRAM OR ITS STRUCTURE. 022, LLC IS NOT AFFILIATED WITH ANY EXCHANGE, ELECTRONIC QUOTATION SYSTEM, THE SECURITIES EXCHANGE COMMISSION OR FINRA.