International Spirit & Beverage Group, Inc. (OTCMKTS:ISBG) Besado Platinum Tequila Sales Jump Internationally
International Spirit & Beverage Group, Inc. (OTCMKTS:ISBG) issued 2Q2016 and 3Q2016 financial report. These are the comprehensive financial statements reported by the firm to date. The company has functioned with their audit firm and accountant to close a comprehensive audit. Recent progress confirms that the firm is on time to report 4Q2016 report on February 15, 2017 and will showcase the same comprehensive level at the call of the auditors.
Terry Williams, the CEO of International Spirit & Beverage, reported that 2016 has been a notable year for them. The successful expansion of their unique Besado Tequila brand exceeded their expectations. They entered into a major domestic distribution agreement with one of the country’s premier distributors introducing them within their preliminary target markets, namely New Jersey, Louisiana, Texas, Florida and New York, offering them with the ideal associate to grow countrywide.
Furthermore, their export potential was comprehended with a planned Asian distribution agreement that has strengthened true global prospect. The successful shipment of their initial 40 feet container of Besado Tequila has led in a long-term association that should offer the firm with a robust export revenue source.
Details will be upcoming. At the same time, the company has renegotiated manufacturer and supplier pricing effectively lessening units’ costs by more than 40% confirming greater efficiencies, scalability and quality. Ultimately International Spirit & Beverage goal was to create a solid base to enter 2017. They are proud to report this has been achieved.
In FY2016, the total sales came at $439,740, with balance sheet showing deferred receivables of $310,680 for the last quarter of 2016. With sales starting to grow exponentially, the management can now focus on solidifying the core of the firm. Since the last PR on December 31, the majority of the debt holders have come forward and offered to rearrange their debt in an attempt to help the firm advance and lessen the debt.© Copyright 2016 OTC News Magazine. All rights reserved.