NOHO Inc (OTCMKTS:DRNK) has seen a big pop in price after the Company announced an LOI to partner up with Miracle Smoke, Inc. to develop, manufacture and distribute cannabidiol (CBD) beverages throughout the United States. The closing of this proposed transaction is subject to the completion of due diligence and the execution of definitive agreements on or before June 30, 2015.
CEO Jay Grdina said “We have been researching the CBD landscape over the last year and believe it to really be a strong market for us to enter into. We believe together with Miracle Smoke we can develop a superior product to what is currently in the fragmented market space. Once we finalize the development of our first CBD pain relieving beverage products we will be adding them into our current NOHO retail distribution network. We have the knowledge and ability to move products off of the retail shelves and into consumers’ hands which, together with Miracle Smoke’s marketing and internet sales structure, we believe we can dominate this category.”
Beverage stocks with big stories are the most explosive of them all and DRNK has plenty to go around; new CEO is Jay Grdina ex-husband of Jenna Jameson who used to be Senior Vice President of Playboy.
Jay Grdina is proving himself as a master at attracting serious media attention for NOHO ”the hangover defense” shot which has appeared in Bloomberg News, CNBC, Fox Carolina, US Weekly, People Magazine, OK Magazine, Phoenix Business Journal, Vegas Magazine, USA Today, Hot Mixology and many others.
NOHO Inc (OTCMKTS:DRNK) bills itself as a ”Premium and Functional Lifestyle Beverage Brand” NOHO “The Hangover Defense” 2 oz. shot and NOHO “Premium Lifestyle Beverage” Gold 8.4 oz. can, are category leaders and changing how consumers support their active and social lifestyles.
The NOHO 2 oz. shot is the #1 selling hangover prevention shot on the market that helps you love your body by protecting it from the adverse effects of alcohol. NOHO comes in the form of a two shot combination, one shot to be taken prior to your first alcoholic beverage and one after your last, and is packed with essential nutrients and vitamins, and NO energy components making it just as healthy as it is reliable.
NOHO was developed by world class pharmacist David Gelardi and works on the backend of having a hangover. it fortifies the body with all the vitamins and minerals and nutrients it needs to metabolize the alcohol and break it down in the system
NOHO pre louds your system, called prehab and boost your system up with the vitamins and nutrients you need. Sodium is added which helps the body to retain water to prevent dehydration. Prickly pear is added to flush the toxins out of the liver and Ginger is added to coat the stomach.
NOHO has quickly established national and international distribution with distributers such as Bonanza Beverage, Glazer’s, Core-Mark, McLane and Savannah Distributing and is currently selling in all 50 states as well as in Ireland, Germany, Australia, United Kingdom, Spain, Mexico, Austria, Sweden with many more countries lined up for distribution deals.
Jay Grdina made some pretty bold statements when he appeared on Bloomberg where he talked about the NOHO Hangover Defense shot stating ”global domination and $100 million in revenues 3 years out. (This is preposterous)
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On April 7 DRNK announced they have signed a distribution deal with A.R. Artemis Import and Distribution, Inc., a subsidiary of Wissotzky Tea, to distribute NOHO beverages throughout Israel. Wissotzky Tea is based in Israel with offices in London and the United States of America.
The press release went on to say ”Second to no other product currently available in the premium and functional lifestyle categories, NOHO’s rapid growth within the marketplace can be attributed to the vast consumer demand for its popular 2 oz. shot “The Hangover Defense,” as well as its newest product offering, NOHO Gold, a healthy premium mixer that is lighting up the nightclub, bar and restaurant scene at an incredible rate. Entirely caffeine and energy free, NOHO’s products appeal to individuals with socially active and physically fit lifestyles by helping to protect one’s body from the adverse effects of alcohol consumption”On April 7 DRNK announced they have signed a distribution deal with A.R. Artemis Import and Distribution, Inc., a subsidiary of Wissotzky Tea, to distribute NOHO beverages throughout Israel. Wissotzky Tea is based in Israel with offices in London and the United States of America.
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Currently trading at a $2.3 million market valuation (based on 327,875,187 shares outstanding and $0.007 pps) DRNK is late on their filings, filing a NT 10-K on March 31. The 10Q from November 19, 2014 shows minimal assets or revenues and significant rising short term debt (this can and does lead to massive dilution). DRNK has created a new category in the explosive beverage space with Jay Grdina getting himself into the national media stage.We will be updating on DRNK when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with DRNK.
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Disclosure: we hold no position in DRNK either long or short and we have not been compensated for this article.