RIVERHEAD, N.Y., Sept. 27, 2016 /PRNewswire/ -- Good Vibrations Shoes, Inc. (OTC-PINK: GVSI) today announced that the company's subsidiary, Long Beard Brewery, has begun brewing their much anticipated beer and already has special events lined up to promote the tasty micro brew including a VFW event scheduled for today.
During the licensing process, a new brewery is not allowed to brew or have alcohol on the premises. Now, that the federal licensing is done, the company is brewing small batches of its anticipated craft beer. Larger brewing equipment, which is under construction, will allow the company to increase that volume to fulfill commercial distribution agreements and supply the company's tasting room located in Riverhead, Long Island.
Perhaps even more exciting is the start of Long Beard's promotional strategy including a newly acquired ownership stake in the LI Brew Bus and attending public events to get eager beer lovers tasting Long Beard's product. The first of these is the 2016 VFW 8th Annual Golf Outing at Willow Creek Golf Course in Mt. Sinai New York. It's a great charity event held for our Veterans and wounded warriors. There will be many more to follow.
Now that the brewing is underway, there are a few small issues to resolve. Good Vibrations Shoes' recent name and symbol change request was denied by FINRA. The reason given was that the company was not current with its Edgar filings, however the company filed a 15-12G in 2013 terminating its obligation to. Regardless of the oversight by FINRA, the only way to correct the problem is to re-apply for the corporate action, something the company plans to do in the next few weeks. The company also plans post current disclosures and begin putting out regular press releases. Additionally, in response to many inquiries, the company wishes to assure everyone that the recent 8K outlining a sale of debt does not mean there will be tremendous dilution. While some new shares have been issued including restricted shares issued to the founders, there is no intention to issue a tremendous amount of shares. The plan is to lower our authorized shares dramatically after a switch of domicile to Wyoming. The change in domicile will save the company over $5000 per year in state fees. More information will shortly be made available on the company's website at www.longbeardbrewery.com.
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SOURCE Good Vibrations Shoes, Inc.