Jammin Java Corp (OTCMKTS:JAMN) recently released its 1Q2015 results and corporate update. One of the most prominent parts of the update was the plan for launch of “Recyclable RealCup”. The cup is being kept environmentally friendly and is compatible with most K-cup machines. Additionally, the company has also announced that it would be sponsoring the 2015 Youth Action Island Summit. This event is held to support the mission of 5 Gyres Institute, which wants to end the threat of plastic pollution on a global level.
Jammin Java is a provider of gourmet coffee, which is grown and farmed in an environmentally friendly and sustainable way. By sponsoring events like the Youth Action Island Summit, the company aims to increase awareness about environmental pollution and it’s after effects. JAMN is even sponsoring a student from Jamaica, to be an ambassador for the company at the conference. The summit is geared towards gathering the youth to come up with sustainable solutions for plastic pollution. Additionally, the company will also introduce the Recyclable RealCup this summer, 5-years before its larger competitors.
In its 1Q2015, JAMN reported a 27.9% increase in sales, with a 76% rise in gross profits. This quarter is the 16th consecutive growth quarter for the company, under the leadership of CEO, Brent Toevs. Additionally, the company was able to report a 27.4% decline in operational expenses. Finally, JAMN also reported a decline of 37.4% in quarterly losses and the company even foretold that the losses in the next quarter would be lowest the company has had to date. Subsequently, the company aims to be profitable by the end of this year. The company also believes that its new RealCup would play a vital role in driving revenues. The shipment of these cups is due to start by the end of July.
Jammin Java Corp (OTCMKTS:JAMN) closed at $0.205 at the end of the June 30 session. A total of 182,960 JAMN shares were traded during the session to help the stock rise by 5.1%.