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. Expands in Midwest through Partnership with Menards
August 23, 2016

 - Long Island Iced Tea® Available in Over 280 Menards Locations -

Hicksville, NY (August 23, 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 a new partnership to supply its beverages to Menards, Inc. (“Menards”), the third largest home improvement chain in the U.S. with more than 280 locations. 

Philip Thomas, Chief Executive Officer of the Company, stated, “We are committed to building our brand and our distribution in the Midwest, and our partnership with Menards is a major achievement in this effort. As the third largest home improvement store in the nation we believe their support further confirms our concept of quality ingredients at an affordable price, thereby making Long Island Iced Tea® an attractive partner across many geographies.  We plan to continue our strategy to progress from distributors to regional chains to national chains to further expand our presence.”

This is the Company’s largest partnership to date in the Midwest, resulting in Long Island Iced Tea® now being available in over 280 Menards location in gallon bottles, with flavors including Lemon, Peach, Mango, Unsweetened, Southern Sweet Tea, & Green Tea & Honey.

Menards’ strength and success can be seen in its well-stocked and maintained stores, the lowest prices in town, and the way guests are always treated like family in a local, hometown hardware store atmosphere. Dedicated to quality and service, Menards carries a complete selection of high-quality, name brand merchandise, tools, materials and supplies for all home improvement needs. 

About Menards, Inc.

A family-owned company started in 1958, Menards is headquartered in Eau Claire, Wisconsin and has more than 280 home improvement stores located in Illinois, Indiana, Iowa, Kansas, Kentucky, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South Dakota, Wisconsin and Wyoming. Today, Menards is known throughout the home improvement industry as the low price leader.
Most Menards stores also carry name brand appliances, pet products, lawn and garden supplies, and even groceries for a one-stop shopping experience. Not only does Menards offer quality products at low prices, it also provides a valuable resource for the entire community. Menards creates employment opportunities and economic growth while fulfilling the various home improvement needs of local homeowners, tenants, and business owners. For more information, visit Menards’ website at www.menards.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 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 Expansion in Southeast through Partnership with Ingles Markets
August 18, 2016

- Long Island Iced Tea® Now Available in all 201 Ingles Locations -

Hicksville, NY (August 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 announced that its beverages are now available at Ingles Markets (“Ingles”) in 200 supermarkets across the Southeast region.

Philip Thomas, Chief Executive Officer of the Company, stated, “We are excited to build this new relationship with Ingles, as they are one of the premier supermarket chains in the Southeast. We believe our beverages are a great fit with Ingles, who is known for providing quality brands at an affordable price. We are thrilled to be expanding into the Southeast and with such a strong partner as Ingles, reinforcing the validity of our strategy to progress from distributors to regional chains to national chains.”

This is the Company’s largest partnership to date in the Southeast, resulting in Long Island Iced Tea® now being available in all 201 Ingles locations in both 20oz and gallon bottles, with flavors including Lemon, Peach, Raspberry, Mango, Guava, Southern Sweet Tea, Green Tea & Honey, Half Tea & Half Lemonade, Diet Lemon and Diet Peach. Long Island Iced Tea.

Ingles strives to provide one-stop shopping convenience to its valued customers. Its supermarkets offer customers a wide variety of nationally advertised food products, including grocery, meat, produce, deli and bakery departments. In addition, the company offers pharmacies and fuel at the majority of its 200 plus locations. The same customer focus and commitment to quality and convenience on which Robert Ingle founded the business in 1963, continues today throughout the organization. 

 

About Ingles Markets Inc.

Ingles Markets Inc. is a leading supermarket chain with operations in six southeastern states. Headquartered in Asheville, North Carolina, Ingles operates 201 supermarkets. In conjunction with its supermarket operations, Ingles operates neighborhood shopping centers, most of which contain an Ingles supermarket. Ingles also owns a fluid dairy facility that supplies Ingles supermarkets and unaffiliated customers. It’s class A common stock is traded on the Nasdaq Global Select Market under the symbol “IMKTA”. For more information, visit Ingles’ website at www.ingles-markets.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 distributors in 12 states and in over 3,000 stores. Long Island Iced Tea® is available in both 20oz and gallon bottles, with flavors including Lemon, Peach, Raspberry, Mango, Guava, Southern Sweet Tea, Green Tea & Honey, Half Tea & Half Lemonade, Diet Lemon and Diet Peach. 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 Second Quarter Results
August 16, 2016


- Second Quarter Net Sales Increase 137% Compared to Prior Year
- First Half Net Sales Increase 125% Compared to Prior Year

Hicksville, NY (August 16, 2016) — Long Island Iced Tea Corp. (Nasdaq: LTEA) (the “Company”), a growth-oriented company focused on the ready-to-drink tea segment in the beverage industry, today reported results for the second quarter and six months ended June 30, 2016.

For the second quarter of 2016, the Company reported net sales of $1,603,667 and a net loss of $2,082,166, compared to the prior year’s second quarter net sales of $675,735 and net loss of $683,486, respectively. For the first six months of 2016, the Company reported net sales of $2,111,836 and a net loss of $3,499,236, compared to the prior year’s first six months net sales of $940,457 and net loss of $1,062,152, respectively. The increase in net sales was primarily due to continued brand momentum 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.

Philip Thomas, CEO of the Company, commented, “We are proud of achieving significant net sales growth in the second quarter and reaching several exciting milestones, including surpassing one-and-a-half million dollars in quarterly net sales for the first time. The Company continued to leverage its success in the northeast and made significant investments further expanding its customer base and distribution into new markets. The Company also received trademark protection of our mark “Long Island Iced Tea” on the supplemental register from the U.S. Patent and Trademark Office, allowing us to further protect our brand. We strengthened our balance sheet with a recently completed capital raise in which we saw our stock listed on the Nasdaq Capital Markets. We are very excited to build upon this momentum in the second half of 2016.”

Second Quarter Review - Comparison of Quarters Ended June 30, 2016 and 2015
• Net sales increased 137% to $1,603,667, compared to $675,735 in the prior year’s second quarter.
• Gross margin decreased to 1% of net sales, compared to 23% in the prior year’s second quarter.
• Operating expenses increased by $1,079,882, or 133%, to $1,893,659, compared to $813,777 in the prior year’s second quarter.
• Net loss was $2,082,166, or $(0.42) per share, compared to a net loss of $683,486, or $(0.21) per share, in the prior year’s second quarter.

Six Month Review - Comparison of Six-Months Ended June 30, 2016 and 2015
• Net sales increased 125% to $2,111,836, compared to $940,457 in the prior year’s first six months.
• Gross margin decreased to 3% of net sales, compared to 24% in the prior year’s first six months.
• Operating expenses increased by $1,916,886, or 154%, to $3,157,867, compared to $1,240,981 in the prior year’s first six months.
• Net loss was $3,499,236, or $(0.72) per share, compared to a net loss of $1,062,152, or $ $(0.36) per share in the prior year’s first six 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 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. 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

Test
August 16, 2016

LONG ISLAND ICED TEA CORP. AND SUBSIDIARIES 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS 

(Unaudited) For the Three Months Ended June 30, 

For the Six Months Ended June 30, 

2016 

2015 

2016 

2015 

Net sales 

$ 1,603,667 

$ 675,735 

$ 2,111,836 

$ 940,457 

Cost of goods sold 

1,588,870 

518,808 

2,056,488 

712,117 

Gross profit 

14,797 

156,927 

55,348 

228,340 

Operating expenses: 

General and administrative expenses 

1,009,576 

398,225 

1,787,241 

617,648 

Selling and marketing expenses 

884,083 

415,552 

1,370,626 

623,333 

Total operating expenses 

1,893,659 

813,777 

3,157,867 

1,240,981 

Operating loss 

(1,878,862) 

(656,850) 

(3,102,519) 

(1,012,641) 

Other expenses: 

Other expense 

(3,327) 

(3,327) 

Interest expense 

(203,304) 

(23,309) 

(396,717) 

(46,184) 

Net loss 

$ (2,082,166) 

$ (683,486) 

$ (3,499,236) 

$ (1,062,152) 

Weighted average number of common shares outstanding – basic and diluted 

4,973,715 

3,227,713 

4,847,322 

2,932,166 

Long Island Iced Tea Corp. Announces Closing of Public Offering, Uplisting to Nasdaq
July 29, 2016

Hicksville, NY (July 29, 2016) — Long Island Iced Tea Corp. (OTCQB: LTEA) (the “Company”), a growth-oriented company focused on the ready-to-drink (“RTD”) tea segment in the beverage industry, announced today the closing of its offering of shares of common stock to the public at a price of $5.50 per share on a “best efforts” basis. The Company has sold 1,242,685 shares of common stock in the offering for aggregate gross proceeds of $6,934,820. In connection with the closing of the offering, the Company’s common stock is expected to commence trading on The NASDAQ Capital Market (“NASDAQ”) on July 29, 2016, retaining its ticker “LTEA”.

Network 1 Financial Securities, Inc. acted as the selling agent for the offering. Alexander Capital, LP. acted as a selected dealer for the offering.

A registration statement, including a prospectus, on Form S-1 relating to these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the “SEC”). The offering is only being made by means of a prospectus. A copy of the final prospectus related to the offering may be obtained from: Network 1 Financial Securities, Inc., 2 Bridge Avenue, Suite 241, Red Bank, New Jersey 07701.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

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 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 under the caption "Risk Factors" in Long Island Iced Tea Corp.'s Quarterly Report on Form 10-Q for the three months ended March 31, 2016 and other reports the Company files with the Securities and Exchange Commission. 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