Corporate Information

Long Island Iced Tea Corp. operates in the ready-to-drink tea segment of the beverage industry. The Company has developed non-alcoholic, premium iced tea bottled beverages made with quality ingredients that are offered at an affordable price.

The Company is currently organized around its flagship brand Long Island Iced Tea, a premium, ready-to-drink, proprietary recipe iced tea sold primarily on the East Coast of the United States through a network of national and regional retail chains and distributors.

Press Releases

Long Island Iced Tea Corp. Announces New Distribution in Puerto Rico through SuperMax
December 1, 2016

- Long Island Iced Tea® Available at 16 SuperMax Locations Across Puerto Rico -

Hicksville, NY (December 1, 2016) — Long Island Iced Tea Corp. (NasdaqCM: LTEA) (the “Company”), a growth-oriented company focused on the ready-to-drink (“RTD”) tea segment in the beverage industry, today announced that it has secured placement of its flagship brand Long Island Iced Tea® in all 16 SuperMax locations across Puerto Rico.

This new partnership with SuperMax is the result of the Company’s recently announced distribution agreement with Vaqueria  Tres Monjitas, one of the premier beverage distributors in Puerto Rico.

Philip Thomas, Chief Executive Officer of the Company, stated, “We are very excited to further enhance our brand and distribution in Puerto Rico through this new partnership. SuperMax is a large and well-known retailer in Puerto Rico, and we look forward to providing their customers with our high-quality beverages at an affordable price.”

Long Island Iced Tea® is a RTD tea that will be available in SuperMax in 20 ounce bottles.

 

About SuperMax

SuperMax is a supermarket chain with 16 locations across Puerto Rico. The SuperMax experience is characterized by its wide variety of products of the highest quality, combined with a standard unsurpassed service and commitment. To learn more about SuperMax, visit www.supermaxpr.com.

 

About Long Island Iced Tea Corp.

Headquartered in Long Island, New York, Long Island Iced Tea Corp. operates in the ready-to-drink tea segment of the beverage industry. The Company has developed non-alcoholic, premium iced tea bottled beverages made with quality ingredients that are offered at an affordable price. The Company is currently organized around its flagship brand Long Island Iced Tea®, a premium, ready-to-drink iced tea sold primarily on the East Coast of the United States through a network of regional chains and distributors. The Company’s website is www.longislandicedtea.com.

 

Forward Looking Statements 

This press release includes statements of the Company’s expectations, intentions, plans and beliefs that constitute "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 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of the Company’s business strategies and its expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements include any statement that does not directly relate to a historical or current fact. You can also identify these and other forward-looking statements by the use of such words as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "thinks," "estimates," "seeks," "predicts," "could," "projects," "potential" and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting the Company and are subject to uncertainties, risks and factors relating to its operations and business environments, all of which are difficult to predict and many of which are beyond its control, that could cause its actual results to differ materially from those matters expressed or implied by these forward looking statements. These risks include its history of losses and expectation of further losses, its ability to expand its operations in both new and existing markets, its ability to develop or acquire new brands, its relationships with distributors, the success of its marketing activities, the effect of competition in its industry and economic and political conditions generally, including the current economic environment and markets. More information about these and other factors are described in the reports the Company files with the Securities and Exchange Commission, including but not limited to the discussions contained under the caption “Risk Factors.” When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the reports the Company files with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and the Company cannot predict those events or how they may affect it. The Company assumes no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.

 

Contacts:

For Investors

Phil Thomas

Long Island Iced Tea Corp.

1-855-542-2832

info@longislandteas.com

- Long Island Iced Tea® Available at 16 SuperMax Locations Across Puerto Rico -

 

Hicksville, NY (December 1, 2016) — Long Island Iced Tea Corp. (NasdaqCM: LTEA) (the “Company”), a growth-oriented company focused on the ready-to-drink (“RTD”) tea segment in the beverage industry, today announced that it has secured placement of its flagship brand Long Island Iced Tea® in all 16 SuperMax locations across Puerto Rico.

 

This new partnership with SuperMax is the result of the Company’s recently announced distribution agreement with Vaqueria  Tres Monjitas, one of the premier beverage distributors in Puerto Rico.

 

Philip Thomas, Chief Executive Officer of the Company, stated, “We are very excited to further enhance our brand and distribution in Puerto Rico through this new partnership. SuperMax is a large and well-known retailer in Puerto Rico, and we look forward to providing their customers with our high-quality beverages at an affordable price.”

 

Long Island Iced Tea® is a RTD tea that will be available in SuperMax in 20 ounce bottles.

 

About SuperMax

 

SuperMax is a supermarket chain with 16 locations across Puerto Rico. The SuperMax experience is characterized by its wide variety of products of the highest quality, combined with a standard unsurpassed service and commitment. To learn more about SuperMax, visit www.supermaxpr.com.

 

About Long Island Iced Tea Corp.

 

Headquartered in Long Island, New York, Long Island Iced Tea Corp. operates in the ready-to-drink tea segment of the beverage industry. The Company has developed non-alcoholic, premium iced tea bottled beverages made with quality ingredients that are offered at an affordable price. The Company is currently organized around its flagship brand Long Island Iced Tea®, a premium, ready-to-drink iced tea sold primarily on the East Coast of the United States through a network of regional chains and distributors. The Company’s website is www.longislandicedtea.com.

 

Forward Looking Statements 

 

This press release includes statements of the Company’s expectations, intentions, plans and beliefs that constitute "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 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of the Company’s business strategies and its expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements include any statement that does not directly relate to a historical or current fact. You can also identify these and other forward-looking statements by the use of such words as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "thinks," "estimates," "seeks," "predicts," "could," "projects," "potential" and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting the Company and are subject to uncertainties, risks and factors relating to its operations and business environments, all of which are difficult to predict and many of which are beyond its control, that could cause its actual results to differ materially from those matters expressed or implied by these forward looking statements. These risks include its history of losses and expectation of further losses, its ability to expand its operations in both new and existing markets, its ability to develop or acquire new brands, its relationships with distributors, the success of its marketing activities, the effect of competition in its industry and economic and political conditions generally, including the current economic environment and markets. More information about these and other factors are described in the reports the Company files with the Securities and Exchange Commission, including but not limited to the discussions contained under the caption “Risk Factors.” When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the reports the Company files with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and the Company cannot predict those events or how they may affect it. The Company assumes no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.

 

Contacts:

 

For Investors

Phil Thomas

Long Island Iced Tea Corp.

1-855-542-2832

info@longislandteas.com

- Long Island Iced Tea® Available at 16 SuperMax Locations Across Puerto Rico -

 

Hicksville, NY (December 1, 2016) — Long Island Iced Tea Corp. (NasdaqCM: LTEA) (the “Company”), a growth-oriented company focused on the ready-to-drink (“RTD”) tea segment in the beverage industry, today announced that it has secured placement of its flagship brand Long Island Iced Tea® in all 16 SuperMax locations across Puerto Rico.

 

This new partnership with SuperMax is the result of the Company’s recently announced distribution agreement with Vaqueria  Tres Monjitas, one of the premier beverage distributors in Puerto Rico.

 

Philip Thomas, Chief Executive Officer of the Company, stated, “We are very excited to further enhance our brand and distribution in Puerto Rico through this new partnership. SuperMax is a large and well-known retailer in Puerto Rico, and we look forward to providing their customers with our high-quality beverages at an affordable price.”

 

Long Island Iced Tea® is a RTD tea that will be available in SuperMax in 20 ounce bottles.

 

About SuperMax

 

SuperMax is a supermarket chain with 16 locations across Puerto Rico. The SuperMax experience is characterized by its wide variety of products of the highest quality, combined with a standard unsurpassed service and commitment. To learn more about SuperMax, visit www.supermaxpr.com.

 

About Long Island Iced Tea Corp.

 

Headquartered in Long Island, New York, Long Island Iced Tea Corp. operates in the ready-to-drink tea segment of the beverage industry. The Company has developed non-alcoholic, premium iced tea bottled beverages made with quality ingredients that are offered at an affordable price. The Company is currently organized around its flagship brand Long Island Iced Tea®, a premium, ready-to-drink iced tea sold primarily on the East Coast of the United States through a network of regional chains and distributors. The Company’s website is www.longislandicedtea.com.

 

Forward Looking Statements 

 

This press release includes statements of the Company’s expectations, intentions, plans and beliefs that constitute "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 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of the Company’s business strategies and its expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements include any statement that does not directly relate to a historical or current fact. You can also identify these and other forward-looking statements by the use of such words as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "thinks," "estimates," "seeks," "predicts," "could," "projects," "potential" and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting the Company and are subject to uncertainties, risks and factors relating to its operations and business environments, all of which are difficult to predict and many of which are beyond its control, that could cause its actual results to differ materially from those matters expressed or implied by these forward looking statements. These risks include its history of losses and expectation of further losses, its ability to expand its operations in both new and existing markets, its ability to develop or acquire new brands, its relationships with distributors, the success of its marketing activities, the effect of competition in its industry and economic and political conditions generally, including the current economic environment and markets. More information about these and other factors are described in the reports the Company files with the Securities and Exchange Commission, including but not limited to the discussions contained under the caption “Risk Factors.” When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the reports the Company files with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and the Company cannot predict those events or how they may affect it. The Company assumes no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.

 

Contacts:

 

For Investors

Phil Thomas

Long Island Iced Tea Corp.

1-855-542-2832

info@longislandteas.com

Long Island Iced Tea Corp. Unveils New Look for Flagship Brand
November 29, 2016

New Bottle and Label Design Unveiled

Hicksville, NY (November 29, 2016) — Long Island Iced Tea Corp. (NasdaqCM: LTEA) (the “Company”), a growth-oriented company focused on the ready-to-drink (“RTD”) tea segment in the beverage industry, today unveiled a new 18oz bottle and label design for its flagship Long Island Iced Tea® brand.

Philip Thomas, Chief Executive Officer of the Company, stated, “As our brand continues to build momentum with retail and distribution partnerships forming across the East Coast and Midwest, now is the perfect time to refresh the look of our labeling and packaging.”

The new label has a bolder structure with more cleanly designed label features, placing a stronger emphasis on the brand’s premium ingredients such as natural fruit flavoring, and the health benefits of non-GMO and 100% raw cane sugar, which is unique within the RTD tea market. The real fruit photography with naturally made moisture droplets accentuates the authentic and fresh spirit of the Long Island Iced Tea® products.

Another unique featured added to the new bottle design is the customized bottle cap printed with a refined Long Island Iced Tea® logo along with informative health cues such as “no additives”, “non-GMO” and “low calories” for the diet options, further reinforcing the health messages.

Mr. Thomas added, “In addition to the ‘better for you’ message, we wanted the label to immediately evoke thoughts of our core concept – a premium and refreshing beverage – while at the same time subtly incorporate our brand elements such as white weatherboards, which are synonymous to the beach and coastal areas on Long Island.” The premium look of the new packaging contemporizes the Long Island Iced Tea® brand whilst celebrating heritage and cultural associations to it.

The introduction of the new bottle will see the package size change from a 20oz bottle size to a 18oz bottle size, with the sleek and slimmer design being more compact, making it easier for customers to carry and consume.  The new bottles are expected to reach retail stores in early 2017.

Mr. Thomas concluded, “While our new bottle and refreshed designs will begin to roll out across stores at the start of 2017, what will not change is the same great taste of Long Island Iced Tea® that our valued customers know and love.”

Long Island Iced Tea® is a RTD tea available in both single-serving and gallon bottle sizes, with flavors including Lemon, Peach, Raspberry, Mango, Guava, Southern Sweet Tea, Green Tea & Honey, Half Tea & Half Lemonade, Diet Lemon and Diet Peach.

 

About Long Island Iced Tea Corp.

Headquartered in Long Island, New York, Long Island Iced Tea Corp. operates in the ready-to-drink tea segment of the beverage industry. The Company has developed non-alcoholic, premium iced tea bottled beverages made with quality ingredients that are offered at an affordable price. The Company is currently organized around its flagship brand Long Island Iced Tea®, a premium, ready-to-drink iced tea sold primarily on the East Coast of the United States through a network of regional chains and distributors. The Company’s website is www.longislandicedtea.com.

 

Forward Looking Statements 

This press release includes statements of the Company’s expectations, intentions, plans and beliefs that constitute "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 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of the Company’s business strategies and its expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements include any statement that does not directly relate to a historical or current fact. You can also identify these and other forward-looking statements by the use of such words as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "thinks," "estimates," "seeks," "predicts," "could," "projects," "potential" and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting the Company and are subject to uncertainties, risks and factors relating to its operations and business environments, all of which are difficult to predict and many of which are beyond its control, that could cause its actual results to differ materially from those matters expressed or implied by these forward looking statements. These risks include its history of losses and expectation of further losses, its ability to expand its operations in both new and existing markets, its ability to develop or acquire new brands, its relationships with distributors, the success of its marketing activities, the effect of competition in its industry and economic and political conditions generally, including the current economic environment and markets. More information about these and other factors are described in the reports the Company files with the Securities and Exchange Commission, including but not limited to the discussions contained under the caption “Risk Factors.” When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the reports the Company files with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and the Company cannot predict those events or how they may affect it. The Company assumes no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.

 

Contacts:

For Investors

Phil Thomas

Long Island Iced Tea Corp.

1-855-542-2832

info@longislandteas.com

Long Island Iced Tea Corp. Announces New Distribution Partnerships in the Southeast with Southeast Beverage and Milestone Beverage
November 22, 2016

- Long Island Iced Tea® To Be Sold Through Southeast Beverage and
Milestone Beverage in North and South Carolina -

 

Hicksville, NY (November 22, 2016) — Long Island Iced Tea Corp. (NasdaqCM: LTEA) (the “Company”), a growth-oriented company focused on the ready-to-drink (“RTD”) tea segment in the beverage industry, today announced new partnerships with Southeast Beverage Distributing (“Southeast Beverage”) and Milestone Beverage, LLC (“Milestone Beverage”) to distribute its beverages in North Carolina and South Carolina.

Southeast Beverage and Milestone Beverage service over 1,500 customers in Charlotte, North Carolina as well as Charleston and Columbia in South Carolina.

Philip Thomas, Chief Executive Officer of the Company, stated, “We are excited to begin these new partnerships as we continue to broaden our presence in the Southeast. Both Southeast Beverage and Milestone Beverage provide a great opportunity to further expand into the Southeast, reinforcing the validity of our strategy to progress from distributors to regional chains to national chains.”

 

About Southeast Beverage Distributing

Southeast Beverage began in 2008 with a single owner/operator and has grown into a company that employees a staff of 21, with multiple distribution centers in North and South Carolina.  It is partnered with national chains and independent suppliers, and has over 500 company owned cooler placements in the market in over 1,500 retail accounts.  Chain customers include Kroger, Wal-Mart, 7-Eleven and QuikTrip. The portfolio of beverages includes juice, energy drinks, carbonated soft drinks, iced teas, sparkling waters, alkaline waters, recovery drinks, sports drinks, mixers, wine and craft beer. To learn more about Southeast Beverage, visit www.se-bev.com.

 

About Milestone Beverage, LLC

Founded by Tyler Miles and headquartered in Lexington, South Carolina, Milestone Beverage is an alcohol and non-alcohol beverage distributor in North and South Carolina. To learn more about Milestone Beverage, visit www.milestonebeverage.com.

 

About Long Island Iced Tea Corp.

Headquartered in Long Island, New York, Long Island Iced Tea Corp. operates in the ready-to-drink tea segment of the beverage industry. The Company has developed non-alcoholic, premium iced tea bottled beverages made with quality ingredients that are offered at an affordable price. The Company is currently organized around its flagship brand Long Island Iced Tea®, a premium, ready-to-drink iced tea sold primarily on the East Coast of the United States through a network of regional chains and distributors. The Company’s website is www.longislandicedtea.com.

 

Forward Looking Statements 

This press release includes statements of the Company’s expectations, intentions, plans and beliefs that constitute "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 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of the Company’s business strategies and its expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements include any statement that does not directly relate to a historical or current fact. You can also identify these and other forward-looking statements by the use of such words as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "thinks," "estimates," "seeks," "predicts," "could," "projects," "potential" and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting the Company and are subject to uncertainties, risks and factors relating to its operations and business environments, all of which are difficult to predict and many of which are beyond its control, that could cause its actual results to differ materially from those matters expressed or implied by these forward looking statements. These risks include its history of losses and expectation of further losses, its ability to expand its operations in both new and existing markets, its ability to develop or acquire new brands, its relationships with distributors, the success of its marketing activities, the effect of competition in its industry and economic and political conditions generally, including the current economic environment and markets. More information about these and other factors are described in the reports the Company files with the Securities and Exchange Commission, including but not limited to the discussions contained under the caption “Risk Factors.” When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the reports the Company files with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and the Company cannot predict those events or how they may affect it. The Company assumes no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.

 

Contacts:

For Investors

Phil Thomas

Long Island Iced Tea Corp.

1-855-542-2832

info@longislandteas.com

Long Island Iced Tea Corp. Receives First Purchase Order from Food Lion Ahead of Schedule
November 21, 2016

 - Long Island Iced Tea® Available in Over 1,000 Locations by Early December -

Hicksville, NY (November 21, 2016) — Long Island Iced Tea Corp. (NasdaqCM: LTEA) (the “Company”), a growth-oriented company focused on the ready-to-drink (“RTD”) tea segment in the beverage industry, today announced that it has received its first purchase order from Food Lion LLC (“Food Lion”).

Long Island Iced Tea® will be available in all Food Lion locations, representing over 1,000 stores across the Southeastern and Mid-Atlantic states, by early December in both 20 ounce and gallon bottles. This is the largest partnership in the Company’s five-year history and the second major partnership for the Company in the Southeast.

Philip Thomas, Chief Executive Officer of the Company, stated, “This partnership with Food Lion is the largest in our company’s history, and we are excited to be available in all of its stores by next month. The Company has achieved significant milestones in 2016, and receiving this first purchase order from our largest ever partnership is a fantastic way to finish the year. As one of the premier regional chains, Food Lion’s support further confirms our belief that our flagship Long Island Iced Tea® brand, a premium tea brewed with all natural ingredients, offered to consumers at an affordable price, positions our company as an attractive partner across many geographies.”

To locate your nearest available Food Lion store, please visit www.foodlion.com/stores.

 

About Food Lion LLC

Food Lion, based in Salisbury, N.C., since 1957, has more than 1,000 stores in 10 Southeastern and Mid-Atlantic states and employs more than 65,000 associates. By leveraging its longstanding heritage of low prices and convenient locations, Food Lion is working to own the easiest full shop grocery experience in the Southeast, anchored by a strong commitment to affordability, freshness and the communities it serves. Through Food Lion Feeds, the company has committed to provide 500 million meals to individuals and families in need by the end of 2020. Food Lion is a company of Delhaize America, a U.S. division of Amsterdam-based Royal Ahold Delhaize Group (OTC: ADRNY). For more information, visit www.foodlion.com.

 

About Long Island Iced Tea Corp.

Headquartered in Long Island, New York, Long Island Iced Tea Corp. operates in the ready-to-drink tea segment of the beverage industry. The Company has developed non-alcoholic, premium iced tea bottled beverages made with quality ingredients that are offered at an affordable price. The Company is currently organized around its flagship brand Long Island Iced Tea®, a premium, ready-to-drink iced tea sold primarily on the East Coast of the United States through a network of regional chains and distributors. The Company’s website is www.longislandicedtea.com.

 

Forward Looking Statements 

This press release includes statements of the Company’s expectations, intentions, plans and beliefs that constitute "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 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of the Company’s business strategies and its expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements include any statement that does not directly relate to a historical or current fact. You can also identify these and other forward-looking statements by the use of such words as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "thinks," "estimates," "seeks," "predicts," "could," "projects," "potential" and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting the Company and are subject to uncertainties, risks and factors relating to its operations and business environments, all of which are difficult to predict and many of which are beyond its control, that could cause its actual results to differ materially from those matters expressed or implied by these forward looking statements. These risks include its history of losses and expectation of further losses, its ability to expand its operations in both new and existing markets, its ability to develop or acquire new brands, its relationships with distributors, the success of its marketing activities, the effect of competition in its industry and economic and political conditions generally, including the current economic environment and markets. More information about these and other factors are described in the reports the Company files with the Securities and Exchange Commission, including but not limited to the discussions contained under the caption “Risk Factors.” When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the reports the Company files with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and the Company cannot predict those events or how they may affect it. The Company assumes no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.

 

Contacts:

For Investors

Phil Thomas

Long Island Iced Tea Corp.

1-855-542-2832

info@longislandteas.com

 

Long Island Iced Tea Corp. Announces 2016 Third Quarter Results
November 18, 2016

 - Third Quarter Net Sales Increased 185% Compared to Prior Year
 - First Nine Months Net Sales Increased 144% Compared to Prior Year

Hicksville, NY (November 18, 2016) — Long Island Iced Tea Corp. (NasdaqCM: LTEA) (the “Company”), a growth-oriented company focused on the ready-to-drink (“RTD”) tea segment in the beverage industry, today reported results for the third quarter and nine months ended September 30, 2016.

For the third quarter of 2016, the Company reported net sales of $1,301,125 and a net loss of $4,891,028, compared to the prior year’s third quarter net sales of $456,787 and net loss of $954,690, respectively. For the first nine months of 2016, the Company reported net sales of $3,412,961 and a net loss of $8,390,264, compared to the prior year’s first nine months net sales of $1,397,244 and net loss of $2,016,842, respectively. The increase in net sales was primarily due to continued brand adoption and an increase in distribution including the addition of new customers and expansion into new geographies. Net losses increased primarily as the result of increased operating expenses resulting from increased payroll costs (including stock based compensation), increased Advisory Board and Board of Director fees, and increased legal and consulting fees. The Company has incurred non-cash expenses of $2.6 million in the third quarter of 2016, primarily related to stock-based compensation, amortization of deferred financing costs and inducement expenses related to the conversion of a credit facility. During the third quarter of 2016, the Company completed a capital raise that generated net proceeds to the Company of $5.9 million.

Philip Thomas, CEO of the Company said, "The third quarter of 2016 was another fantastic quarter for the Company. We are proud of achieving strong net sales growth through broadening our customer base and expanding our distribution footprint into new regional markets. New partnerships announced in the third quarter included Christmas Tree Shops, Menards, Ingles and Restaurant Depot. In addition, we formed new partnerships with strategic brokers and entered new geographies including Canada with Unique Foods and Puerto Rico with Tres Monjitas. These achievements, combined with our recently completed capital raise, provide us with strong momentum going into the fourth quarter and through to 2017."

Third Quarter Review - Comparison of Quarters Ended September 30, 2016 and 2015

  • Net sales increased 185% to $1,301,125, compared to $456,787 in the prior year’s third quarter.
  • Gross margin decreased to 8% of net sales, compared to 14% in the prior year’s third quarter.
  • Operating expenses increased by $1,813,770, or 178%, to $2,831,769, compared to $1,017,999 in the prior year’s third quarter.
  • Net loss was $4,891,028, or $(0.75) per share, compared to a net loss of $954,690, or $(0.21) per share, in the prior year’s third quarter.

Nine Month Review - Comparison of Nine-Months Ended September 30, 2016 and 2015

  • Net sales increased 144% to $3,412,961, compared to $1,397,244 in the prior year’s first nine months.
  • Gross margin decreased to 5% of net sales, compared to 21% in the prior year’s first nine months.
  • Operating expenses increased by $3,730,656, or 165%, to $5,989,636, compared to $2,258,980 in the prior year’s first nine months.
  • Net loss was $8,390,264, or $(1.55) per share, compared to a net loss of $2,016,842, or $(0.58) per share in the prior year’s first nine months.

About Long Island Iced Tea Corp.

Headquartered in Long Island, New York, Long Island Iced Tea Corp. operates in the ready-to-drink tea segment of the beverage industry. The Company has developed non-alcoholic, premium iced tea bottled beverages made with quality ingredients that are offered at an affordable price. The Company is currently organized around its flagship brand Long Island Iced Tea®, a premium, ready-to-drink iced tea sold primarily on the East Coast of the United States through a network of regional chains and distributors. The Company’s website is www.longislandicedtea.com.

Forward Looking Statements 

This press release includes statements of the Company’s expectations, intentions, plans and beliefs that constitute "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 and are intended to come within the safe harbor protection provided by those sections. These statements, which involve risks and uncertainties, relate to the discussion of the Company’s business strategies and its expectations concerning future operations, margins, sales, new products and brands, potential joint ventures, potential acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other information that are based on forecasts of future results and estimates of amounts not yet determinable. These statements include any statement that does not directly relate to a historical or current fact. You can also identify these and other forward-looking statements by the use of such words as "may," "will," "should," "expects," "intends," "plans," "anticipates," "believes," "thinks," "estimates," "seeks," "predicts," "could," "projects," "potential" and other similar terms and phrases, including references to assumptions. These forward looking statements are made based on expectations and beliefs concerning future events affecting the Company and are subject to uncertainties, risks and factors relating to its operations and business environments, all of which are difficult to predict and many of which are beyond its control, that could cause its actual results to differ materially from those matters expressed or implied by these forward looking statements. These risks include possible accounting adjustments made in the process of finalizing reported financial results, the Company’s history of losses and expectation of further losses, its ability to expand its operations in both new and existing markets, its ability to develop or acquire new brands, its relationships with distributors, the success of its marketing activities, the effect of competition in its industry and economic and political conditions generally, including the current economic environment and markets. More information about these and other factors are described in the reports the Company files with the Securities and Exchange Commission, including but not limited to the discussions contained under the caption “Risk Factors.” When considering these forward looking statements, you should keep in mind the cautionary statements in this press release and the reports the Company files with the Securities and Exchange Commission. New risks and uncertainties arise from time to time, and the Company cannot predict those events or how they may affect it. The Company assumes no obligation to update any forward looking statements after the date of this press release as a result of new information, future events or developments, except as required by the federal securities laws.

 

Contacts:

For Investors

Phil Thomas

Long Island Iced Tea Corp.

1-855-542-2832

info@longislandteas.com