Company Maintains Record Growth, as Capital and Supply Factors Become Prime Targets for Correction
SCOTTSDALE, AZ--(Marketwired - Jan 14, 2016) - The Alkaline Water Company Inc. (OTCQB: WTER) (the "Company"), developers of an innovative state of the art and proprietary electrolysis beverage process that is packaged and sold in 500ml, 700ml, 1-liter, 3-liter and 1-gallon sizes under the trade name Alkaline88, has announced an inability to achieve their previously announced target earnings goals for the fiscal year ending March 31, 2016.
The Company previously projected it would achieve breakeven operational results by the quarter ending December 31, 2015 with profitability in the fourth quarter ending March 31, 2016. Based on the preliminary results of the quarter ending December 31, 2015 and current projections through March 31, 2016 it is now clear that neither of these objectives will be fulfilled. Furthermore, based on sales revenues and projections for the same period, the company will fall short of a previously announced $10 million anticipated sales forecast.
"Although we continue to experience record growth, and foresee ongoing significant impetus for the remainder of the fiscal year, our third and projected fourth quarter results have been hampered by continued capital and supply chain constraints. We are working diligently to correct both of these issues and are very optimistic we will have them resolved by fiscal year end March 31, 2016," stated Mr. Steven Nickolas, President and CEO of the Company.
Additional details of the Company's business, finances, appointments and agreements can be found as part of the Company's continuous public disclosure as a reporting issuer with the Securities and Exchange Commission ("SEC") available at www.sec.gov. For more information, visit our website at www.thealkalinewaterco.com.
The Alkaline Water Company, Inc. (OTCQB: WTER) has developed an innovative, state of the art, proprietary electrolysis process that produces healthy alkaline water for a balanced lifestyle. The Company is focused on the business of distributing and marketing for retail sale of its cost-effectively packaged Alkaline88 water beverage products. Visit us at: www.thealkalinewaterco.com.
About Alkaline Water Products
Alkaline88's premier alkaline water is an 8.8 pH balanced bottled alkaline drinking water enhanced with trace minerals and electrolytes. The product offers consumers the unique opportunity to purchase alkaline water in conveniently packaged 500ml, 700ml, 1-liter, 3-liter and 1-gallon sizes. The Alkaline Water Company Inc. is currently in the midst of a national mass-market expansion program, where the product is already available for consumer sales at a growing number of major retail locations across many parts of the United States. Learn more about the science behind alkaline water by visiting www.thealkalinewaterco.com.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements." Statements in this press release that are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among other things,; that the Company is working diligently to fix both of these issues and expect to have them solved by the end of this fiscal year ending March 31, 2016; The material assumptions supporting these forward-looking statements include, among other things that the demand for the Company's products will continue to significantly grow; the Company will be able to continue to expand into new retailers; and the Company will be able to obtain additional capital to meet the Company's growing demand and purchase new pieces of equipment. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with developing new products and operating as a development stage company, changes in customer demand, the extent to which we are successful in gaining new long-term relationships with retailers or retaining existing ones, our ability to raise the additional funding we will need to continue to pursue our business and product development plans, competition in the industry in which we operate and market conditions. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by applicable law, including the securities laws of the United States. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in the reports and other documents we file with the SEC, available at www.sec.gov.
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