EQUATOR Beverage Company Reports 2023 Results

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EQUATOR Beverage Company (MOJO) reports impressive financial results for 2023, with a 26% increase in net revenue, 60% increase in gross margin, and a significant turnaround from a net loss to taxable income. The company also repurchased over 1.2 million shares of its common stock, demonstrating confidence in its future performance.

JERSEY CITY, NJ / ACCESSWIRE / January 3, 2024 / EQUATOR Beverage Company (OTCQB:MOJO) reports its results of operations for the year ended December 31, 2023.

Highlights include:

• 2023 Net Revenue was $2,288,272 up from $1,821,492 for the same period last year. This was a $466,780 increase or 26%.
• 2023 Gross Margin was $1,011,861, up from $630,956 for the same period last year. This was a $380,905 increase or 60%. 2023 Gross Margin Percentage was 44%, up from 35% for the same period last year.
• 2023 Taxable Income was $180,155, up from a Net Loss of $56,948 for the same period last year. This was a $237,103 increase or 416%.

During 2023 EQUATOR repurchased 401,269 shares of its common stock. Stock repurchased in 2022 was 830,342 shares with a two-year total of 1,231,611 shares.

It is expected that the Company will file its 10 K for the year ended December 31, 2023 on February 4, 2024 with the US Securities and Exchange Commission.

EQUATOR continues to seek opportunities to repurchase shares of its common stock that are restricted from sale or publicly traded. Please call EQUATOR at 929 264 7944 if you would like to sell your shares.

For additional information contact:

Glenn Simpson CEO
EQUATOR Beverage Company
917 574 1690
Symbol Ticker: MOJO
Website: www.equatorbeverage.com

Important Cautions Regarding Forward Looking Statements

This press release contains forward-looking statements within the definition of Section 27A of the Securities Act of 1933, as amended and such section 21E of the Securities Act of 1934, amended. These forward-looking statements should not be used to make an investment decision. The words 'estimate,' 'possible' and 'seeking' and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risk.

SOURCE: Equator Beverage Company

View the original press release on accesswire.com

FAQ

What are the highlights of EQUATOR Beverage Company's (MOJO) 2023 financial results?

EQUATOR Beverage Company reported a 26% increase in net revenue, a 60% increase in gross margin, and a significant turnaround from a net loss to taxable income for the year 2023.

How many shares of common stock did EQUATOR Beverage Company (MOJO) repurchase in 2023?

EQUATOR repurchased 401,269 shares of its common stock in 2023, adding to a total of 1,231,611 shares repurchased over the past two years.

When is EQUATOR Beverage Company (MOJO) expected to file its 10-K for the year ended December 31, 2023?

The company is expected to file its 10-K for 2023 on February 4, 2024, with the US Securities and Exchange Commission.

How can shareholders sell their restricted or publicly traded shares of EQUATOR Beverage Company (MOJO)?

Shareholders looking to sell their restricted or publicly traded shares of EQUATOR Beverage Company can contact the company directly at 929-264-7944.