BeBevCo CEO: Enough Is Enough with DTC Chill
STATESVILLE, N.C., July 21, 2011 /PRNewswire/ -- Bebida Beverage Company (OTCmarkets: BBDA) (BeBevCo), a developer, manufacturer and marketer of relaxation and energy drinks, announced today that a full legal, political and personal effort is being set in motion to clear up a DTCC Chill that has plagued the Micro cap company for over two years. The Chill in effect limits broker/dealers from freely trading the company stock without huge hurdles. The Chill acts as a tremendous deterrent for retail traders and has been a serious problem for far too long.
The company has since 2009 done everything required by the OTC markets for compliance as well as has never received any notice, document or email from anyone at the DTCC regarding the imposition of the Chill. Furthermore the company has called the privately held DTCC compliance department over 50 times in the last year and half with no one ever offering a reason and or any solution for why there is in fact a Chill.
"The time has come for a more aggressive approach. We are so busy with growing the distribution of our Relaxation beverage KOMA UNWIND that we have little time for anything else. But the fact that we have hundreds of people emailing and sending messages that they can't buy our stock on the open market is cause for great concern on behalf of our Company and our shareholders," explained CEO Brian Weber. "When a company is publicly traded, it is just that and all the public should have access and not just Wall Street market makers," Weber continued.
"Our category of Relaxation drinks is expected to grow from $500 million to $13 billion over the next 3-5 years. What a tremendous opportunity for people to get involved with us. We have a fantastic product that is certainly going to compete for a lion's share of that growth. In the coming weeks our attorney will be reaching out to the DTCC a last time. Beyond that it will get legal and I will be traveling to NYC to confront the organization and demand an explanation in person," Weber added. "The overall ramifications of the Chill are numerous. It slows the growth of the company, limits the amount of new jobs created, limits the amount of brand extensions, and quite frankly it is a tremendous distraction," concluded Weber.
BeBevCo (Bebida Beverage Company) develops, manufactures and markets beverages including relaxation drinks Koma Unwind "Chillaxation" Drink™, " Koma Unwind Sugar-free "Chillaxation" Drink™," and Koma Unwind "Chillaxation" Shot™" as well as Potencia Energy Drink, Potencia "BLAST" energy shot and Piranha Water.
Safe Harbor Statement
Except for historic information contained in this release, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital to execute its business plan, and effectively compete against similar companies.
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