BOONE, N.C., Aug. 17, 2015 (GLOBE NEWSWIRE) -- Appalachian Mountain Brewery, Inc. (OTC:HOPS), announced 2nd Quarter revenue increased significantly and was up 27% to $478,572 compared to 1st Quarter 2015 at $348,844. Revenue increased by 60% to $478,572 for Q2 2015 versus $192,450 for Q2 2014. Net profit increased by 32% in Q2 2015 to $111,852 compared to $76,317 in Q2 2014. AMB’s gross margin remained flat but extremely strong during the 2nd Quarter at 77% compared to the same period 2014.
Alternating Proprietorship, Master Distribution Agreement and Philanthropy
Effective April 1, 2015, AMB signed a Master Distribution Agreement (MDA) and began implementing our strategic partnership with Craft Brew Alliance (CBA). We are now able to leverage the CBA Wholesale Distribution Network in North Carolina and beyond. Currently, the wholesale network has since enabled both our craft beer and cider lines to become more available to more customers at select restaurants, bars, grocery stores, bottle shops and retail chains across Western and Central North Carolina. Additionally, under our Alternating Proprietorship agreement, AMB started brewing test trials of our core beers in Portsmouth, NH. We are excited to be able to increase capacity significantly by leveraging excess capacity that CBA has in Portsmouth, NH. Some of the major advantages to doing an Alternating Proprietorship is that the AMB brewery team, led by Nathan Kelischek our Master Brewer, gets to brew on CBA's 100-Barrel brewery system in Portsmouth, NH, while continuing to maintaining complete control over all of our beers, brand, as well as the quality control process and procedures in getting to our final products that will be distributed thru our Master Distribution Agreement. Our initial plans are to offer draft and 16 oz. cans of all of our core beers by end of Q3 2015 with future plans for additional craft beer offerings. We're extremely proud of the relationship we have been building with CBA over the recent months and now we are able to actualize the relationship through both our Alternating Proprietorship and our Master Distribution Agreement. “One of the most important parts about the Alternating Proprietorship and Master Distribution Agreement is that we will be able to continue to not only help our High Country here in Boone, NC where we live and play but reach much further and fulfill our potential by executing our mission of Community, Sustainability and Philanthropy but now on a wider spread forum. It's all about giving back when and where we can. On our cans the statement “We Can So You Can” is proudly displayed and as of August 2015, AMB gave back to its local community through charitable donations approximately 10% of its net income. Additionally, in keeping with our sustainability efforts here at AMB, we're looking forward to brewing at the Portsmouth, NH facility because the “CBA 2014 Sustainability Report” reveals a 3% energy reduction across all of their breweries, the Portsmouth, NH brewery offsetting all of its power with wind energy credits, the installation of the first free electronic vehicle charging station on the NH Seacoast and a new initiative to capture renewable energy from biogas. Brewing at the Portsmouth, NH facility under our Alternating Proprietorship allows AMB to continue being an environmental steward for sustainability and keep brewing great tasting, high quality beers without sacrificing the importance on putting our environment first,” said Sean Spiegelman, CEO of Appalachian Mountain Brewery, Inc.
AMB taps new Controller and Compliance Officer
AMB is proud to have tapped Jeremy Barnes an Appalachian State University Alumni to fill our Controller and Compliance Officer position. “I am very excited to have the opportunity to now finally bring our accounting and book keeping needs in-house here in Boone, NC. This is a high water mark for the company at such an early stage of its growth, whereby implementing higher levels of controls around our internal policies and procedures. This will make us a much stronger and more attractive company to the public markets,” said AMB's newly appointed Controller and Compliance Officer, Jeremy Barnes.
Investment Opportunities for Accredited Investors
Appalachian Mountain Brewery, Inc. (HOPS) is currently offering Preferred B Shares privately to accredited investors through a Reg D 506 offering registered by Form D with US SEC. For interest contact Sean Spiegelman at email below.
For further information:
CONTACT: Sean Spiegelman, CEO (828) 263-1111 Sean@appalachianmountainbrewery.com
Source:Appalachian Mountain Brewery, Inc.