Brunton Vineyards, a San Francisco / Napa-based wine company today announced recent developments in its business. The Company’s management team has been working to secure long-term distribution and visibility for its brands and has done so through recent partnership deals with several race tracks, such as the California Speedway and others.
Through these partnerships, the Company has attracted several thousand race fans to its wine club, selling over 15 cases of wine in January and doubling that amount, 33 cases, in February. The company received over $750,000 in funding in 2007 and continues to negotiate with several financing sources, several providing offers which the Company is currently reviewing.
Having completed its GAAP audits of financial statements on its existing operations, management currently anticipates that the consolidated audited statements, which will cover a six year period, will be completed within the next thirty days. The next steps planned are to file updated 8k, 10k and 10Q filings, to be followed by a C211 filing for up-list to the OTC Bulletin Board. Management hopes the Company will be approved for trading on OTC Bulletin Board in the second quarter of 2008.
"While our Company has had its challenges during its first year as a publicly traded company, enduring several setbacks over the last few months in the way of its market performance, we have several funding offers in place. Brunton Vineyards will continue to push forward with revenue plans via racing circuits and intends to finance substantial vineyard acquisitions and expand VinoVenue operations and locations through a private placement offering, already in place and ready for distribution. Our management team, shareholders and our investment bankers have all been very patient through the process and we applaud and thank them for their continued support and belief in our company and business model," said Geno Brunton, CEO of Brunton Vineyards.
About Brunton Vineyards
Brunton Vineyards (bruntonvineyards.com) is a wholly owned subsidiary of Brunton Vineyards Holdings, Inc, a public company based in San Francisco, CA. The company currently has several subsidiaries: Brunton Vineyards [with current brands – “Brunton Vineyards” and “Addison Cole”], VinoVenue, LLC and Swig, Inc. Management plans to add shareholder value by increasing distribution of its wines within the US market, increasing margins on wine sales and acquiring top tier, high quality producing vineyards and wineries and some that are considered undervalued.
Brunton Vineyards, Inc.
Investor Relations P: 949-315-3337
This press release contains forward-looking statements. These statements constitute "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, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Among other things, Brunton Vineyards' expectations of business and financial results in this press release contain forward-looking statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, including risks related to: possible delays in the closing of the transaction contemplated by the acquisition agreement, which may be caused by factors outside of the control of Brunton Vineyards; the ability of Brunton Vineyards to successfully expand VinoVenue and launch new locations within the US market or elsewhere in a timely manner. Although the company believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions at the time made, it can give no assurance that its expectations will be achieved. Readers are cautioned not to place undue reliance on these forward-looking statements. Forward-looking statements are inherently subject to unpredictable and unanticipated risks, trends and uncertainties such as the company's inability to accurately forecast its operating results; the company's potential inability to achieve profitability or generate positive cash flow; the availability of financing; and other risks associated with the company's business.