Business
Appalachian Mountain Brewery, Inc. Announces Record Year-End Results
Appalachian Mountain Brewery, Inc. Announces Record Year-End Results.
About this update from Optimus Healthcare Services, Inc.
[{"type":"text","content":"\n\n BOONE, N.C., March 15, 2016 (GLOBE NEWSWIRE) -- Appalachian Mountain Brewery, Inc. (“AMB”) (OTC:HOPS) announces the release of its financial results for year ending December 31, 2015.\n HIGHLIGHTS  Revenue increased 79% to $1,735,418 compared to $968,470 year-end 2014 as wholesale distribution with Craft Brew Alliance continued to expand throughout Western North Carolina including one month of additional statewide release of its core portfolio in draft only.Gross margin remained strong at 65% for year-end 2015 as the Company continues to apply diligent cost control measures with all beer and cider production.  Total barrels of beer produced for 2015 was 3,840, a 330% increase compared to 890 barrels produced in 2014 and 580 barrels produce in 2013 respectively. This increase is attributed to expanded demand for company products through its master distribution with Craft Brew Alliance. AMB President and CEO Sean Spiegelman stated, “The spectacular results this year are due to successfully executing our 2015 business plans for both our retail and wholesale business lines. We are all very pleased with our distribution partnership with Craft Brew Alliance as they continue to exceed our expectations and help us build long term shareholder value. We expect our growth trajectory to continue as our core craft beer portfolio, consisting of Long Leaf IPA, Boone Creek Blonde and Spoaty-Oaty Appalachian Pale-Ale are now readily accessible across the entire state of North Carolina in draft and 16 ounce cans. Additionally, we have added a complete seasonal line available in 16 ounce cans and draft which is also now available across our home state of North Carolina, as of March 1, 2016.” Financial Migration to Internal Reporting and Controls “AMB, Inc. has created an integrated financial information system to ensure accurate, timely, and compliant financial reporting with the help of Hughes Pittman & Gupton, LLP, our consultant. They have provided management assistance in refining our financial reporting processes as we seek to improve the usability of the Company’s financial information. We’re continuing to strengthen our internal accounting systems and financial controls as we enter the final stages of implementing Orchestrated Beer by Orchestrated Software. This will give us a SAP...