Business
Barfresh Announces Non-Recourse Non-Dilutive Litigation Financing
Based on Merits of the Case, Company Received Multiple Offers to Fund Lawsuit Filed on November 10, 2022 LOS ANGELES, Aug. 13, 2024 (GLOBE NEWSWIRE) --
About this update from Barfresh Food Group Inc.
[{"type":"text","content":"Based on Merits of the Case, Company Received Multiple Offers to Fund Lawsuit Filed on November 10, 2022\nLOS ANGELES, Aug. 13, 2024 (GLOBE NEWSWIRE) -- Barfresh Food Group Inc. (the “Company” or “Barfresh”) (Nasdaq: BRFH), a provider of frozen, ready-to-blend and ready-to-drink beverages, received multiple offers to fund its lawsuit on a non-recourse non-dilutive basis based on the merits of its legal case. The Company entered into an agreement with a well-known alternative asset investment firm and the Company’s litigation counsel, Boesch Law Group, to provide non-recourse non-dilutive litigation financing. Barfresh has spent approximately $300,000 over the past two years for this lawsuit which affected its operating margins. This new non-recourse non-dilutive financing removes the need for additional cash from the Company to fund this pending lawsuit. About Barfresh Food Group Barfresh Food Group Inc. (Nasdaq: BRFH) is a developer, manufacturer and distributor of ready-to-blend and ready-to-drink beverages, including smoothies, shakes and frappes, primarily for the education market, foodservice industry and restaurant chains, delivered as fully prepared individual portions or single serving and bulk formats for on-site preparation. The Company’s single serving, on-site prepared product utilizes a proprietary, patented system that uses portion-controlled pre-packaged beverage ingredients, delivering a freshly made frozen beverage that is quick, cost efficient, better for you and without waste. For more information, please visit www.barfresh.com. Forward Looking Statements Except for historical information herein, matters set forth in this press release are forward-looking, including statements about the Company’s commercial progress, success of its strategic relationship(s), and projections of future financial performance. These forward-looking statements are identified by the use of words such as “grow”, “expand”, “anticipate”, “intend”, “estimate”, “believe”, “expect”, “plan”, “should”, “hypothetical”, “potential”, “forecast” and “project”, “continue,” “could,” “may,” “predict,” and “will” and variations of such words and similar expressions are intended to identify such forward-looking statements. All statements, other than statements of historical fact, included in the press release that address activities, events or devel...