Baristas CEO Update Baristas Releases Shareholder letter from CEO Barry Henthorn
SEATTLE, Oct. 2, 2012 /PRNewswire/ -- Baristas Coffee Company, Inc. (OTCPK: BCCI) Baristas Coffee Company, Inc. released its shareholder letter from enthusiastic CEO and consummate leader, Barry Henthorn. Henthorn expresses gratitude and praise to shareholders who have stood by BCCI in its 3 years since inception with this letter:
It is with great pride and a sense of accomplishment that we are able to update you with our company position as Baristas Coffee Company completes its third year of operation.
As with most start up companies, we had our challenges in our first years but with the dedication of staff, investors, our top Baristas, and most of all, you, our valued shareholders, we write this letter to you with the utmost thanks for your continued support and belief in Baristas and me, your CEO.
As I always have, I continue to run this business with an open door policy and 100% transparency to all involved so please feel free to contact me with any questions with respect to the updates below.
Let's address the white elephant in the room first and foremost. Last year we were plagued by rumor and innuendo that Baristas was ducking serious financial obligations to various employees and governmental agencies. This was our main priority to resolve in the past year and at this time we are happy to announce that we have no outstanding lawsuits against the company and furthermore, we have negotiated agreements and remain current with all obligations to governmental agencies.
REVENUES, SHARE PRICE, SHAREHOLDER RELATIONS
We are very pleased to report that our 2012 revenue is up about 20% over 2011 and our operating expenses are down significantly as we continue to refine our supply chain. More importantly, WE ARE PROFITABLE!
We believe the marketing of the public company, an increase in the shareholder base and an overall increase in public awareness of the Company and products will put us in a remarkable position for fiscal year 2013. We remain committed to responsibly structuring the cap table and have 50 million authorized shares still unissued. I, myself as the largest shareholder, have never sold a single share nor will I until our shareholders see real value in the stock. Our commitment and our vision is to move towards filing for an up-listing of the company within the next six months.
BARISTAS ICE CREAM
We are thrilled to announce that after years of effort, Baristas Ice Cream formulations have been completed. The product is unique in its packaging flavors and it is in production and scheduled to be on the shelves of retail locations throughout New York and Connecticut before the end of this month. We are very excited about the potential of this product and our relationship with Calip Dairies and early consumer testing has been overwhelmingly positive. The potential Q1/13 revenue is in the high 6 figures from ice cream alone. Very exciting stuff!
Staying true to our vision of introducing "Costume Themed Drive-Thru Coffee" to the Nation and to the world, we are proud to have opened and continue to successfully operate locations in five states throughout the U.S., with five more states targeted before the end of this year.
MEDIA STRATEGIES & REALITY
The company plans to implement a multi-layered marketing plan which will incorporate a wide variety of regional, national and social media geared towards driving new consumers towards Baristas products. This approach will include a mix of traditional and new media opportunities that should broaden the company's brand appeal and improve franchise sales and increase distribution. The Baristas Television Series continues to move forward with written commitments from several distribution companies and Networks overseas and domestically, and we have resources allocated to introduce the show to additional markets at this years "MIP" in Cannes France.
In closing, Henthorn said:
"As CEO of a public company I consider it my top priority to use all means necessary to bring increased value to our shareholders. By doing so we believe our share price will more properly reflect the true potential of the Baristas Brand. One of our key objectives is to raise our company's public image and distinguish ourselves from perceived competition." Henthorn concludes, "In the last three years we have made bigger strides than we ever expected and our shareholders have been more loyal than we could have ever wished for and we are on track to reward their loyalty very soon."
About Baristas Coffee Company (BCCI): Headquartered in the Seattle, Washington 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 can currently be found in six greater Seattle area locations as well as in Texas, Florida, Montana, and Arizona. Your state, Coming Soon!
For more information on this fascinating concept please visit us at www.baristas.tv
SOURCE Baristas Coffee Company, Inc.