TRUE DRINKS HLDGS COM USD0.001 (OTCMKTS:TRUU) has recently filed a Form 8-K, regarding an update from the CEO, Kevin Sherman, to the company stockholders. Mr. Sherman was recently appointed as the interim CEO of the company and updated the shareholders on the 90-days activity, under his tenure. He pointed out that he was able to refocus the business as an entrepreneurial venture.
The CEO also highlighted that the company’s mission was to tackle obesity in children, as well as diabetes. He also pointed out that the management has successfully secured $5 million in financing, of which $2.5 million has already been received and is being used in the recent marketing efforts of company products. Sherman also revealed that this had particularly been a weak point for the company. He also revealed that the management was focusing on making the company more efficient, particularly the sales division.
Sherman also highlighted that TRUU has an ongoing agreement with Niagara Bottling, the largest producer of bottled water in the US. This coupled with stable pricing and a capacity for growth in new markets, with minimal environmental impact would result in positive results for the company. The CEO also pointed out that these factors would also result in a stabilization of the company’s margins.
In his update, Sherman also revealed that the company would be launching its new product, AquaBall in May. He believes that the product would be one of the healthiest drinks in the market for children, which would also widen the gap between TRUU and its competitors. The CEO also highlighted that he had shifted the company’s sales model to direct store sales. He believed that it would allow the company to reach a wider market and would also allow for proper presentation. Sherman also revealed that this practice had been initiated in 2015 and has so far been very successful.
TRUE DRINKS HLDGS COM USD0.001 (OTCMKTS:TRUU) closed trading at a share price of $0.13, after gaining 1.96%, during the April 15 session, after having a trade volume of 209,975.