STATESVILLE, N.C., July 19, 2011 (GLOBE NEWSWIRE) -- Bebida Beverage Company (Pink Sheets:BBDA) (BeBevCo), a developer, manufacturer and marketer of relaxation and energy drinks, announced today that their solely owned subsidiary BeBevCo Holdings LLC has finalized a deal which, effective July 15, 2011, the building in which their corporate offices are located switched from a liability to an asset.
The 23,000 square ft building BeBevCo moved into the last year was lease to purchase. The exact terms were not made public however as of the day of transfer the balance due on the property is approximately $425,000 and an upcoming appraisal is expected to give an estimate of the property above $650,000. BeBevCo's team has made significant improvements to the building over the last 12 months which will give a substantially higher appraised value.
The building has 9 admin offices, a 1000 sq ft area for samples, online sales, merchandise, a memorabilia area, media/conference room, and a break room. 7000 sq ft of the building will be used for product shipping and receiving for BeBevCo's southeast regional distributors. Additionally, 9,000 square ft of the building will be used for rental income.
"We have put a lot of work into this building for not only our own uses which has become substantial, but also for additional income sources," stated Brian Weber, CEO of BeBevCo. "We have put together quite a significant number of distribution agreements and we are happy to have the space need for storage and logistics. We will continue making upgrades and we expect the value and uses of our building to continue to grow," Weber concluded.
About BeBevCo
BeBevCo (Bebida Beverage Company) develops, manufactures and markets beverages including Koma Unwind "Chillaxation Drink™," Koma Unwind Sugar-free "Chillaxation Drink™," and Koma Unwind "Chillaxation Shot™" as well as Potencia Energy Drink, Potencia "BLAST" energy shot and Piranha Water.
Safe Harbor Statement
Except for historic information contained in this release, the statements in this news release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, the company's ability to attract qualified management, raise sufficient capital to execute its business plan, and effectively compete against similar companies.