Reed's, Inc. Statement Regarding FDA Inquiry
25 Agosto 2011 - 10:15AM
Marketwired
Reed's, Inc. (NASDAQ: REED) received a letter from the Irvine
office of the Food and Drug Administration (FDA) alerting the
company to concerns about the language describing the ingredients
of two of its non-mainstream products. While the language and
descriptions were not misleading or inaccurate, the FDA raised
questions regarding the proper identification required in labeling.
The Company believes that the FDA inquiry will not have a material
impact on its business.
At no point has the FDA raised any questions or concerns about
the safety of Reed's products. The FDA concerns relate mostly to
Reed's Natural Energy Elixir and Reed's Nausea Relief, and do not
relate to any of Reed's or Virgil's glass-bottled natural
carbonated soft drinks. Reed's is proactively and openly addressing
the FDA's labeling concerns, and has taken measures to immediately
correct the FDA concerns. At this point, Reed's is awaiting a
response from the FDA on the proposed corrective measures.
"The FDA seems to be increasing pressure to improve labeling and
ingredient descriptions," stated Terry Foucaut, Reed's Chief
Operating Officer. "We applaud the push toward increased
disclosure. We have enthusiastically corrected these minor points
in our packaging, and we look forward to closing this matter with
the FDA as soon as they are able to review our responses."
About Reed's, Inc.
Reed's, Inc. makes the top selling natural sodas in the natural
foods industry sold in over 10,500 natural food markets and
supermarkets nationwide. Its six award-winning non-alcoholic Ginger
Brews are unique in the beverage industry, being brewed, not
manufactured and using fresh ginger, spices and fruits in a brewing
process that predates commercial soft drinks. The Company owns the
top selling root beer line in natural foods, the Virgil's Root Beer
product line, and the top selling cola line in natural foods, the
China Cola product line. Other product lines include: Reed's Ginger
Candies and Reed's Ginger Ice Creams. In 2009, Reed's started
producing private label natural beverages for select national
chains.
Reed's products are sold through specialty gourmet and natural
food stores, mainstream supermarket chains, retail stores and
restaurants nationwide, and in Canada, as well as through private
label relationships with major supermarket chains. For more
information about Reed's, please visit the company's website at:
http://www.reedsinc.com or call 800-99-REEDS.
Follow Reed's on Twitter at
http://twitter.com/reedsgingerbrew
Reed's Facebook Fan Page at:
http://www.facebook.com/pages/Reeds-Ginger-Brew-and-Virgils-Natural-Sodas/57143529039?ref=nf
SAFE HARBOR STATEMENT
Some portions of this press release, particularly those
describing Reed's goals and strategies, contain "forward-looking
statements." These forward-looking statements can generally be
identified as such because the context of the statement will
include words, such as "expects," "should," "believes,"
"anticipates" or words of similar import. Similarly, statements
that describe future plans, objectives or goals are also
forward-looking statements. While Reed's is working to achieve
those goals and strategies, actual results could differ materially
from those projected in the forward-looking statements as a result
of a number of risks and uncertainties. These risks and
uncertainties include difficulty in marketing its products and
services, maintaining and protecting brand recognition, the need
for significant capital, dependence on third party distributors,
dependence on third party brewers, increasing costs of fuel and
freight, protection of intellectual property, competition and other
factors, any of which could have an adverse effect on the business
plans of Reed's, its reputation in the industry or its expected
financial return from operations and results of operations. In
light of significant risks and uncertainties inherent in
forward-looking statements included herein, the inclusion of such
statements should not be regarded as a representation by Reed's
that they will achieve such forward-looking statements. For further
details and a discussion of these and other risks and
uncertainties, please see our most recent reports on Form 10-KSB
and Form 10-Q, as filed with the Securities and Exchange
Commission, as they may be amended from time to time. Reed's
undertakes no obligation to publicly update any forward-looking
statement, whether as a result of new information, future events,
or otherwise.
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Investor Relations Contact: Mr. Michael Sclafani
President Wall Street Communications Group, Inc Tel: 303-903-2090
E-mail: Email Contact
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