LOS ANGELES, June 21, 2012 /PRNewswire/ -- Jammin Java Corp. (OTCBB: JAMN), which does business as Marley Coffee, a sustainably grown, ethically farmed and artisan roasted gourmet coffee, today announced a general corporate update to supplement its recently filed first quarter 2012 results.
The Company believes a key to its growth is a multichannel distribution and sales strategy and its success in introducing a wide array of coffee products through multiple distribution channels using the Marley Coffee brand name. The main channels of revenue for the Company are now and are expected to continue to be: US and international grocery retail, online retail, office coffee services (OCS), foodservice, vending and automated retailing.
"Over the past 10 months, we've gone from selling one line in the US, our organic Whole Bean offering, to become an international gourmet coffee company with a portfolio of exceptional, distinctive coffee and tea products," said Rohan Marley, chairman, Marley Coffee. "Our expanded product line allows us to offer Marley Coffee through any business channel we choose to pursue and we've been working with distributors and other business partners worldwide to aggressively establish sales in new and diversified channels."
"We have created a foundation from which to increase our market share and bring our brand and products to customers worldwide, which we expect will deliver long-term value to our shareholders," said Brent Toevs, CEO, Marley Coffee. "While we're very pleased with our significant top-line growth, we recognize there is still much work ahead of us to improve our bottom-line performance and to effectively build upon our forward momentum. Our first quarter 2012 revenue increase reflects the hard work of many people on our team and among our business partners."
Since August 2011, the Company has expanded beyond its original organic Whole Bean offering to introduce:
- Marley Coffee Organic Ground and Marley Coffee Jamaica Blue Mountain® Ground;
- Award-winning, compostable Single-Serve Pods for Bunn and other pod-based home and office brewers;
- The new Marley Coffee RealCup™, compatible cartridges for use in most models of Keurig's popular K-Cup brewing system;
- New OCS and foodservice products, including 2.5oz frac packs and 2lbs. Whole Bean bags;
- Branded vending solutions with industry innovators, AVT and Seaga/Saeco; and
- The Marley Coffee-brand Bike Caffe mobile retail franchise.
Toevs, concluded, "Our goal is to make Marley Coffee universal and give coffee lovers and those invested in the success of the industry the opportunity to provide and enjoy our products whenever, wherever and in whatever format they prefer – at home, the office or on-the-go through traditional and online retailers, office coffee services and foodservice programs, branded vending solutions, and our new, earth-friendly mobile franchise concept. We look forward to continued growth."
U.S. and international grocery retail channels have grown to become the Company's largest revenue channels, followed by online retail, office coffee services, food service and licensing.
Grocery Retail and Online Retail: Geographically, the Company initially focused on retail grocery sales and marketing on the West Coast and Southwestern parts of the United States and Western Canada. In the past few months, the Company has expanded to add distributor relationships in the Midwest and Northeast regions of the United States. The Company expects ongoing discussions with retailers will enable it to place Marley Coffee products in more retail chains throughout the year. Key retail products currently include Marley Coffee Organic Ground, Jamaica Blue Mountain Ground, and Whole Bean offerings. The new Marley Coffee RealCup is expected to begin shipping in September 2012 with orders being accepted now.
The largest and best known Marley Coffee retailers in the US currently include Fresh & Easy (a subsidiary of UK-based Tesco), Whole Foods Markets, Mollie Stone's, New Leaf Markets, Andronico's, Dean & Deluca and many independently owned gourmet specialty shops as well as online via Amazon.com and others and www.marleycoffee.com.
International distribution partnerships, which the Company began to establish in late 2011, are beginning to reap benefits. Marley Coffee is now available in the United Kingdom and Europe, Japan, the Caribbean and Chile. The Company expects to expand distribution to Australia as well as additional markets in South America in 2012.
OCS / Foodservice: The Company expects to experience growth in its OCS business segment starting in September 2012 when it begins shipping its new Marley Coffee RealCup product to distributors and OCS service providers. The Company also now has the ability through its network of regional distributors to provide Marley Coffee to businesses throughout the United States. The Company is also using the same regional distribution model to launch into the Foodservice arena with initial launches in the New York, Northern and Southern California regions and intends to add other regions to service this business channel across the country.
Branded Vending & Automated Retailing: In April 2012, during the National Automatic Merchandising Association (NAMA) OneShow annual trade show, the Company announced two licensing agreements for branded vending solutions. The Company announced a licensing partnership agreement with AVT, Inc. (OTC: AVTC), a leading developer of automated and self-service retailing systems, to create high-end Marley Coffee-branded automated coffee vending and merchandising machines that target college campuses, traditional retail locations, high-density traffic areas such as theaters and hotels, and traditional foodservice vendors. Several large retailers have already inquired about these new vending machines and the Company expects to begin seeing revenue from sales this fiscal year.
The Company also announced an agreement with Seaga Manufacturing, Inc., a worldwide leader in the design and manufacture of equipment and accessories for the vending and cold merchandiser industries, to produce two Marley Coffee-branded vending solutions for the office coffee service (OCS), vending and food service marketplaces. One unit is designed for larger, high traffic environments, while the other is an automatic, table-top vending machine for small and medium traffic locations.
National Coffee Service & Vending (NCS&V), a current Marley Coffee sales agent for office coffee service, has incorporated the new branded vending machines from Seaga into its product offering, providing OCS customers with a comprehensive Marley Coffee-branded bean-to-cup solution.
Marley Coffee BikeCaffe Mobile Franchise: Also at the April 2012 NAMA OneShow, the Company introduced the Marley Coffee BikeCaffe Coffee Bike. BikeCaffe, found in select cities in the U.S. and Europe, is a new approach to serving coffee to customers. The three-wheeled, geared bikes are full-service cafes that can roll from location to location, leaving a small carbon footprint. Marley Coffee BikeCaffe Coffee Bike franchises are currently available via www.bikecaffe.com/marleycoffee, exclusively selling Marley Coffee beverages.
About The Company:
Jammin Java, doing business as Marley Coffee, is a U.S.-based company that provides sustainably grown, ethically farmed and artisan roasted gourmet coffee through multiple U.S. and international distribution channels, under the Marley Coffee brand name. Marley Coffee products seek to live up to the Rastafari standards of ITAL, standing for all things Pure, True and Vital. A portion of all sales of Marley Coffee supports the Kicks for Cause Foundation, which aims to build playable soccer fields and soccer camps for children of coffee-producing communities in Jamaica and beyond. For sales inquiries, please contact [email protected].
The Company's common stock is quoted on the OTCBB under the symbol JAMN. Learn more at www.MarleyCoffee.com, visit the corporate website at www.JamminJavaCorp.com, join us on Facebook at http://www.facebook.com/MarleyCoffee, and follow us on Twitter at http://twitter.com/marleycoffee.
Learn more about other Marley Family ventures by visiting www.BobMarley.com, The House of Marley at www.thehouseofmarley.com, Marley Beverage Company at www.MarleyBeverages.com, and 1Love.org at www.1love.org.
This Press Release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Acts") . In particular, the words "believe," "may," "could," "should," "expect," "anticipate," "estimate," "project," "propose," "plan," "intend," and similar conditional words and expressions are intended to identify forward-looking statements and are subject to the safe harbor created by these Acts. Examples of forward-looking statements include, statements regarding future growth, revenues and financial results, expected product developments (including, without limitation, growth through the Company's multichannel strategy, placement of more products with retailers throughout the year, revenue from sales from the branded vending and foodservice manufacturers and, in other similar relationships, as well as to be developed with BikeCaffe), future relationships with retailers and distributors, and intentions to expand into new geographic and product markets. Such statements are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. These risks and others are included from time to time in documents we file with the Securities and Exchange Commission ("SEC"), including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks.
Included in these risks are our going concern and liquidity risks. Our ability to meet our obligations in the ordinary course of business is dependent upon our ability to sell our products directly to end-users and through distributors, establish profitable operations through increased sales and decreased expenses, and obtain additional funds when needed. Management intends to increase sales by increasing our product offerings, expanding our direct sales force and expanding our distributor relationships both domestically and internationally. There can be no assurance that we will be able to increase sales, reduce expenses, or obtain additional financing, if necessary, at a level to meet our current obligations. As a result, the opinion we have received from our independent registered public accounting firm on January 31, 2012 consolidated financial statements contains an explanatory paragraph stating that there is a substantial doubt regarding our ability to continue as a going concern.
Other unknown or unpredictable factors also could have material adverse effects on our future results. Accordingly, you should not place undue reliance on these forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that its forward-looking statements will prove to be correct. Investors are cautioned that any forward-looking statements are not guarantees of future performance and actual results or developments may differ materially from those projected. The forward-looking statements in this press release are made as of the date hereof. The Company takes no obligation to update or correct its own forward-looking statements, except as required by law or those prepared by third parties that are not paid by the Company. The Company's SEC filings are available at http://www.sec.gov.
Stuart T. Smith
SOURCE Jammin Java Corp.