Management Believes Action Valued at $3.5 Million Demonstrates Its Ongoing Commitment to Enhance Shareholder Value
BOCA RATON, FL--(Marketwired - Dec 9, 2013) - DNA Brands, Inc. (
"We believe the waiving of our right to convert our preferred stock into $3.5 million in common stock is yet again another very significant step of our ongoing efforts to increase share value. While there are no assurances, we believe this action, coupled with the modification of a significant portion of our existing short term debt into long term debt to strengthen our balance sheet, as well as our rebranding efforts will result in increasing the value of our common stock," said Darren Marks, Chairman and CEO of DNA.
About DNA Brands, Inc.
DNA BRANDS make DNA Energy Drink®, the 2010 and 2012 winner of the best-tasting energy drink at the World Beverage Competition. DNA Energy Drink® is a proprietary blend of quality ingredients in eight delicious flavors including three new energy coffee products infused with Omega 3. Its citrus flavored energy drink was awarded the World's Best Tasting Energy Drink 2010 & 2012, respectively at the World Beverage Competition.
Forward-Looking Statements
Except for statements of historical fact, the matters discussed in this press release are forward-looking. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "future," "plan" or "planned," "expects" or "projected." These forward-looking statements reflect numerous assumptions and involve a variety of risks and uncertainties, many of which are beyond the company's control that may cause actual results to differ materially from stated expectations. Some of the factors that could cause actual results to differ materially from the forward looking statements contained herein include (i) the Company's ability to generate significant revenues from its new product line, (ii) the Company's ability to obtain adequate financing to achieve its business plan (iii) a decision by the Company's distributors to carry the Company's products (iv) acceptance by consumers of the Company new flavors and branding (v) launching of three new coffee drinks and re-ordering the new rebranded five energy drink flavors, and (vi) and other factors without limitation which are detailed in documents we file from time to time with the Securities and Exchange Commission, which are available at SEC.gov.