Appalachian Mountain Brewery (AMB), a publicly traded company (OTC:HOPS), announced financial results today stating 3rd Quarter revenue increased and was up 38 % to $266,283 compared to 2nd Quarter 2014 at $192,450. Revenue increased by 77% to $266,283 for Q3 2014 versus $150,703 for Q3 2013. The company reported that gross margin improved during the 3rd Quarter to 76% as a result of higher sales and effective cost controls vs. 39.6% in the 2nd Quarter of 2014.
“The 2nd and 3rd Quarter’s of 2014 were particularly strong due to increased customer traffic at our taproom, a robust economy, successful launch of Farm To Flame, tourism in the High Country, new strategic alliances and the soft launch of our self-distribution program being head up by our new Sales Manager, Michael Schriber”, said Sean Spiegelman, CEO of Appalachian Mountain Brewery.
Appalachian Mountain Brewery became a publicly traded company via a reverse merger at the end of 2013. The company stated they anticipate to provide its investors and the public audited financials by the end of Q4 2014.
“The process has been very exciting for all of “HOPS” companies as we move towards full transparency through fully audited financials,” said Spiegelman.
The Boone, North Carolina company also released they were currently offering Preferred B shares privately to accredited investors via a 506(c) private placement. Further details regarding the offer were not available.
AMB will join a small but growing group of publicly traded companies that are leveraging Title II of the JOBS Act to boost capital for company growth.
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