MOJO Organics Inc. Reports Six Consecutive Quarters of Double-Digit Revenue Growth

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May 10, 2019, 14:28 ET

JERSEY CITY, N.J., May 10, 2019 /PRNewswire/ -- MOJO Organics, Inc. (OTC: MOJO) reported its results of operations for the quarter ended March 31, 2019 and filed its form 10 Q with the United States Securities and Exchange Commission.

Highlights include:

Net Revenue increased to $408,497, a 16% increase from 2018.
Operating Margin increased to 51% compared to 43% for 2018.
Net loss decreased to $78,147 from a loss of $91,697 in 2018.

Glenn Simpson, Chairman and Chief Executive Officer of MOJO Organics, Inc. said, "We are pleased to report that we ended our March 2019 quarter with our sixth consecutive quarter of double-digit revenue growth.

During the quarter we completed development of our Pure Coconut Water with GAC Juice which we believe is the next super fruit beverage. We also completed our pure coconut water one-liter PET packaging. This package is designed for the home market and commercial establishments serving coconut water-based beverages alcoholic and non-alcoholic. We expect this package to do well against competitors one-liter tetra pak packages because of our product quality, price point, and PET recyclable bottles.

In a few days we will launch our new Sparkling Coconut Water + Lime Juice with an improved taste and label. The new package can be viewed on Amazon and our website www.MojoOrganics.com.

During the first quarter of 2019, we focused on adding productive distributors and brokers and have seen an increase in our revenue from these changes. We also increased our private label business which serves customers in channels that we do not have a presence. Our packaging and production give us a completive advantage to produce multiple package designs in small runs of 50,000 units which is difficult for many of our competitors.

During the first quarter of 2019, we expanded our product offering with Amazon which now includes four products. Pure Coconut Water with GAC juice should be available in the second quarter which will increase our product offering to five beverages on Amazon. MOJO is a top performer on Amazon.

We continued to simplify our capital structure to provide investors with a simple easy to understand transparent picture of our company's capital structure. During the quarter 2,030,223 warrants expired and 70,000 options were terminated. The company has 1.5 million remaining warrants outstanding with an exercise price of 40 cents per share they expire on August 19, 2020. Also, during the period, the Company terminated its 2012 and 2015 Incentive Plans which permitted the issue of stock and options.

MOJO is working on formulations for ready to drink alcoholic beverages with MOJO Pure Coconut Water. We expect these products to launch in the third quarter of 2019."

For additional information contact Glenn Simpson CEO MOJO Organics, Inc. at 201 633 6519 Stock Symbol: MOJO

SOURCE MOJO Organics, Inc.