With its recent acquisition and selling activities, Good Vibrations Shoes, Inc. (OTCMKTS:GVSI) is definitely undergoing a significant transformation. The company acquired Long Beard Brewing Co. earlier this year. As part of the effort, Good Vibrations Shoes sold Vindai Corporation back to its founding company, making Long Beard Brewing the controlling entity.
Corporate Name Changing
Two months ago, Good Vibrations Shoes has filed with the Nevada state and FINRA to change its name into Long Beard Breweries, Inc. as it seeks to evolve into a craft brewery entity followed by its acquisition in January.
According to Good Vibrations Shoes, it is now more than ready to jump into a new alcoholic beverage realm. With the recent acquisition, the company is hopeful about establishing a world-renown identity in the industry.
While waiting for the corporate name change approval from respective regulatory authorities, the company can already jumpstart its public equity strategy. To begin with, Good Vibrations Shoes will have to allow liquidity for new investors while protecting the interests of current investors under a renewed share structure.
Furthermore, investors are thoroughly reminded that Good Vibrations Shoes has a small convertible debt amount. As a result, the company may need extra funding in no time to support the expansion of Long Beard Breweries. Company executives, however, assure investors that the company will keep outstanding shares as small as possible.
If all the necessary documents and approvals have been fulfilled, the new corporation is not far from operating as summer comes in.
Growth of Craft Breweries
In the past years, micro breweries have emerged especially in Long Island. Startup breweries in the area are recognized worldwide since consumers now prefer full-flavored craft alcoholic beverages than mass-produced options.
Long Beard Brewing has a 4,000-square-feet brewery and a 900-square-feet tasting room at Riverhead, New York (NY).
Good Vibrations Shoes is generally confident in its strategic location, industry prowess, and recipes, believing that the combination of these three elements will work on the company’s advantage at all costs.