NORTH PALM BEACH, FL--(NewMediaWire - Sep 17, 2015) - Harrison,
Vickers & Waterman, Inc. (OTCBB: HVCW): Attitude Drinks, Inc.
(OTCBB: ATTD) announces today that it has filed its
June 30, 2015 year-end annual report. This is the first
financial report to include the results of the Joint Venture with
NEWOB. HVCW had announced the acquisition of Attitude Beer
Holding Co. on April 21, 2015, and the annual report filed includes
revenue from the first World of Beer (WOB) tavern financed by
Attitude Beer Holding Co. which began operations on January 25 of
this year. HVCW also recently filed with regulatory
authorities to change the company name from Harrison, Vickers and
Waterman Inc. to Attitude Beer, Inc.
Results of operations reflect gross sales of $684,695 and a
gross margin profit for our WOB location of $483,570 from April 21,
2015 through June 30, 2015. HVCW owns 51% of the West Hartford
WOB tavern, as such the annual report reflects 100 percent of the
tavern's sales during the ownership period and a net of 51% of the
operating earnings after the 49% minority interest
elimination.
HVCW's CEO Roy Warren commented: "Management is excited by the
early results from our first tavern, and we look forward to the
prospect of improving the results in the West Hartford WOB tavern
as well as continuing to refine this business concept in more
taverns in our franchise territories. This consumer friendly
craft beer concept has become the pioneer in this category, and we
are proud to enable our JV partner to accelerate growth and exploit
this niche in the craft beer industry."
This audited report indicates that as of September 14, 2015, the
date this filling was issued, HVCW had 126,337,367 shares
outstanding. The company recently announced an agreement with
NEWOB to develop new WOB taverns in Milford CT and Boston
MA. Renovations are scheduled to begin in both locations in
January 2016 with anticipation of operations beginning in both
locations next spring. Both of the new taverns intend to
incorporate the latest format of the WOB concept, including larger
and more diverse "tavern fare" and beverage selection.
Attitude Drinks Incorporated ("ATTD") owns 70 percent of the
common shares outstanding as of the filing of the annual
report.
About HVCW
Harrison, Vickers & Waterman Inc. is the owner of Attitude
Beer. Attitude Beer has a joint venture with New England World of
Beer LLC. to develop select World of Beer franchised locations in
the state of Connecticut and greater Boston areas. Together they
opened a 4,000 sq. foot WOB tavern in West Hartford, CT in January
2015 that sells a selection of over 500 craft and imported beers
along with tavern food and other spirits and drinks. New England
World of Beer holds franchise rights for all of Connecticut and the
greater Boston area. Recently, Attitude Beer announced an agreement
with NEWOB to develop new taverns in Milford CT and Boston MA. The
Company is seeking additional opportunities in the craft beer
industry. For additional World of Beer locations that are developed
through the joint venture, Attitude Beer Holding Co. will hold a
51% interest and New England World of Beer will hold a 49% interest
in the joint venture's new World of Beer locations.
For more about HVCW: visit: www.attitudebeer.com
Disclaimer
This press release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. The forward-looking
statements are based on current expectations, estimates and
projections made by management. The Company intends for the
forward-looking statements to be covered by the safe harbor
provisions for forward-looking statements. Words such as
"anticipates," "expects," "intends," "plans," "believes," "seeks,"
"estimates," or variations of such words are intended to identify
such forward-looking statements. The forward-looking statements
contained in this press release include statements regarding the
prospects of improving the results in the West Hartford WOB tavern
and continuing to refine this business concept in more taverns, and
the timing of the renovation and commencement of operations of the
new taverns. All forward-looking statements in this press
release are made as of the date of this press release, and the
Company assumes no obligation to update these forward-looking
statements other than as required by law. The forward-looking
statements are subject to risks and uncertainties that could cause
actual results to differ materially from those set forth or implied
by any forward-looking statements and include the Company's ability
to improve its results and accelerate its growth, open new
taverns, exploit this niche in the craft beer industry and the
other risk factors discussed in the Business and Management's
Discussion and Analysis sections in our Annual Report on Form 10-K
for the year ended March 31, 2014 and subsequent Quarterly Reports
on Form 10-Q and Current Reports on Form 8-K.
