NORTH PALM BEACH, FL--(NewMediaWire - Feb 17, 2016) -
Harrison, Vickers and Waterman, Inc. (OTCBB: HVCW): Attitude Drinks Incorporated (OTC
PINK: ATTD) announced today a new joint venture
agreement with Southeast Florida Craft LLC, which is owned by the
same partners that own New England WOB LLC, to build new World of
Beer franchise locations in Dade and Broward counties in southeast
Florida. We will own 60% of any developed taverns while the stores
will be operated by Southeast Florida Craft LLC. Roy Warren, CEO of
HVCW, commented, "This agreement furthers our commitment and
reflects our confidence in the performance of this exciting new
concept. We are located in Florida, and the opportunity to help
develop this business in our home state is naturally
rewarding".
HVCW also filed its quarterly Form 10-q report today indicating
gross revenues of $1,632,244 and $793,561 for the six months and
three months ending December 31, 2015, respectively. We recognized
an operating profit from operations before depreciation and
amortization for the six months ending December 31, 2015 of
$19,708. The report reflected higher revenues than originally
expected from our West Hartford World of Beer tavern.
About HVCW
Harrison, Vickers & Waterman, Inc. is the owner of Attitude
Beer Holding Co. Attitude Beer has a joint venture with New England
WOB, LLC. and now with Southeast Florida Craft LLC (same partners)
to develop select World of Beer franchised locations in the state
of Connecticut, greater Boston area and Dade and Broward counties
in southeast Florida. Together we 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 cocktails. New England WOB, LLC holds franchise
rights for all of Connecticut and the greater Boston area.
Southeast Florida Craft LLC will hold franchise rights for all new
World of Beer development in Dade and Broward counties in Florida.
Recently, Attitude Beer announced an agreement with New England
WOB, LLC to develop new taverns in Milford, CT and Boston, MA which
are expected to open in spring 2016. The Company is seeking
additional opportunities in the craft beer industry. For additional
World of Beer locations that are developed through the New England
WOB, LLC joint venture, Attitude Beer Holding Co. will hold a 51%
interest, and New England WOB, LLC will hold a 49% interest in the
joint venture's new World of Beer locations. For southeast Florida,
Attitude Beer Holding Co. will hold a 60% interest, and Southeast
Florida Craft LLC will hold a 40% 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 June 30, 2015 and subsequent Quarterly Reports on Form 10-Q
and Current Reports on Form 8-K.