PLANO, Texas, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Rocky Mountain High Brands, Inc. (OTC: RMHB) today announced a management restructuring of the Company, including additional initiatives to optimize the Company's capabilities and overall business performance. This strategic move marks a new chapter in the Company's growth and a broader vision for its future.
RMHB has retained turn-round specialists well versed in the restructuring of small and large companies both private and public. A new focus will be directed towards cutting expenses, reducing debt and improving customer service along with supplying new operating funds. Through contacts and personal relationships, the consultants are able to jumpstart RMHB and its subsidiaries by maintaining proper finished goods inventory on their own brands and providing shorter lead times for private label customers' products below previous burden costs.
Consultants with strong backgrounds in manufacturing, sales & marketing, finance, as well as a vast network of associates will be available to fast track the improvement of the Company's infrastructure including additional investment capital. The ability for RMHB to have high-volume, low-cost products available has already been put in place. Negotiations are underway with existing and new customers for this production to take place starting during the fourth quarter of 2024 with major revenue increases taking place in the first quarter of 2025.
The consultants have complete control of all funds received from sales revenue, loans and investment capital which will be used to fuel the path forward, growth and reduce current debt. Different decision makers have been put in place to ensure the Company and its subsidiaries are heading in the right direction in all matters relating to RMHB's business operations, including operational efficiency, productivity, marketing, sales strategy and funding.
Short term goals are as follows:
- Become compliant under Rule 15c2-11 in the 4th quarter of 2024
- Develop strong management that is compensated based on performance
- Implement business strategy resulting in lower G&A costs and lower fixed costs on all products
- Provide access to private capital
- Create improved terms with the Company's suppliers
- Strengthen existing and new lines of credit to more easily offer terms to customers. The Company has a $2,000,000 receivable line of credit for its own brands.
- Installation of improved intake policies and internal manufacturing standards
RMHB thanks all its stockholders for its belief in the Company. We know that there have been difficult times in the past and are asking for a little more patience to ensure we're all part of a bigger, brighter future together.
Rocky Mountain High Brands, Inc. (RMHB) is a diversified and dynamic Company committed to making a difference by raising the quality and expectations in the beverage sector for Company owned brands as well as key niche opportunities. Our DNA is rooted in innovation.
Rocky Mountain Productions, Inc., a wholly owned subsidiary of RMHB, specializes in cold and hot fill beverages and ready-to-drink beverages. It is uniquely positioned to co-pack our brand drinks as well as private label with all the best-in-class services needed to get products ready for market.
Rocky Mountain NexBev, Inc., a wholly owned subsidiary of RMHB, specializes in non-alcoholic beverages, including energy drinks, custom drinks, CBD & hemp, and other specialty drinks. The Company is experienced in managing the development, design, and production of beverages for a variety of categories and new customers. A large amount of short-term revenue will likely be generated by focusing on opportunities that have been available to Rocky Mountain NexBev for some time with the Company lacking the funds to execute.
Information about Forward-Looking Statements: This release may include forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions and the ability to attract and retain skilled personnel. Words such as "anticipate," "estimate," "expect," "intend," "plan," "project" and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements do not guarantee future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company's filings with the OTC Markets. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company's business, financial condition, and results of operations. The Company is not obligated to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.
Contact:
Paul Knopick
pknopick@eandecommunications.com
