Rocky Mountain High Brands Announces Restructuring Of Management And Initiatives
Rocky Mountain High Brands (RMHB) announced a comprehensive management restructuring and strategic initiatives to enhance business performance. The company has retained turnaround specialists to focus on expense reduction, debt management, and customer service improvement. Key initiatives include maintaining proper inventory levels, reducing lead times, and implementing lower-cost production.
The company outlined short-term goals including becoming compliant under Rule 15c2-11 in Q4 2024, developing performance-based management compensation, and implementing cost-reduction strategies. RMHB secured a $2,000,000 receivable line of credit for its brands and expects major revenue increases starting Q1 2025.
Rocky Mountain High Brands (RMHB) ha annunciato una ristrutturazione completa del management e iniziative strategiche per migliorare le performance aziendali. L'azienda ha coinvolto specialisti nel turnaround per concentrarsi su riduzione dei costi, gestione del debito e miglioramento del servizio clienti. Le iniziative chiave includono il mantenimento di livelli di inventario adeguati, la riduzione dei tempi di consegna e l'implementazione di una produzione a costi inferiori.
L'azienda ha delineato obiettivi a breve termine, tra cui diventare conforme alla Regola 15c2-11 nel quarto trimestre del 2024, sviluppare una gestione della compensazione basata sulle performance e attuare strategie di riduzione dei costi. RMHB ha ottenuto una linea di credito su crediti di $2,000,000 per i suoi marchi e prevede significativi aumenti di fatturato a partire dal primo trimestre del 2025.
Rocky Mountain High Brands (RMHB) anunció una reestructuración integral en su gestión y estrategias para mejorar el rendimiento empresarial. La compañía ha contratado especialistas en reestructuración para enfocarse en reducción de gastos, gestión de deudas y mejora del servicio al cliente. Las iniciativas clave incluyen mantener niveles de inventario adecuados, reducir los plazos de entrega e implementar una producción a menor costo.
La empresa delineó objetivos a corto plazo que incluyen cumplir con la Regla 15c2-11 en el cuarto trimestre de 2024, desarrollar compensaciones de gestión basadas en el rendimiento y aplicar estrategias de reducción de costos. RMHB aseguró una línea de crédito de cuentas por cobrar de $2,000,000 para sus marcas y espera incrementos significativos en los ingresos a partir del primer trimestre de 2025.
로키 마운틴 하이 브랜드 (RMHB)가 비즈니스 성능 향상을 위한 종합적인 경영 재구성과 전략적 이니셔티브를 발표했습니다. 이 회사는 비용 절감, 부채 관리 및 고객 서비스 개선에 초점을 맞추기 위해 회생 전문가를 고용했습니다. 주요 이니셔티브에는 적절한 재고 수준 유지, 리드 타임 감소, 비용 절감형 생산의 구현이 포함됩니다.
회사는 2024년 4분기 내 규정 15c2-11 준수, 성과 기반 관리 보상 개발 및 비용 절감 전략 구현과 같은 단기 목표를 설명했습니다. RMHB는 자사 브랜드를 위한 $2,000,000의 매출채권 신용 한도를 확보했으며, 2025년 1분기부터 주요 매출 증가를 예상하고 있습니다.
Rocky Mountain High Brands (RMHB) a annoncé une restructuration complète de la direction et des initiatives stratégiques pour améliorer la performance de l'entreprise. La société a retenu des spécialistes de la relance pour se concentrer sur la réduction des coûts, la gestion de la dette et l'amélioration du service client. Les initiatives clés comprennent le maintien de niveaux d'inventaire appropriés, la réduction des délais de livraison et la mise en œuvre d'une production à moindre coût.
La société a défini des objectifs à court terme, notamment se conformer à la Règle 15c2-11 au quatrième trimestre 2024, développer une compensation de direction basée sur la performance et mettre en œuvre des stratégies de réduction des coûts. RMHB a obtenu une ligne de crédit de 2.000.000 $ sur créances pour ses marques et prévoit une augmentation significative des revenus à partir du premier trimestre 2025.
Rocky Mountain High Brands (RMHB) hat eine umfassende Umstrukturierung des Managements und strategische Maßnahmen zur Verbesserung der Unternehmensleistung angekündigt. Das Unternehmen hat Turnaround-Spezialisten engagiert, um sich auf Kostensenkung, Schuldenmanagement und Verbesserung des Kundenservices zu konzentrieren. Zu den wichtigsten Initiativen gehören die Aufrechterhaltung angemessener Lagerbestände, die Reduzierung von Durchlaufzeiten und die Implementierung einer kostengünstigeren Produktion.
Das Unternehmen skizzierte kurzfristige Ziele, darunter die Einhaltung der Regel 15c2-11 im vierten Quartal 2024, die Entwicklung leistungsbasierter Managementvergütung und die Umsetzung von Kostensenkungsstrategien. RMHB sicherte sich eine Forderungskreditlinie von 2.000.000 US-Dollar für seine Marken und erwartet ab dem ersten Quartal 2025 ein signifikantes Umsatzwachstum.
- Secured $2,000,000 receivable line of credit for company brands
- Implementation of cost reduction strategies for G&A and fixed costs
- Restructuring aimed at operational efficiency and productivity improvement
- New production capabilities for high-volume, low-cost products
- Current debt requires reduction through restructuring
- Company acknowledges past financial difficulties
- Need for external turnaround specialists indicates significant operational issues
- Lack of funds to execute existing business opportunities
PLANO, Texas, Nov. 08, 2024 (GLOBE NEWSWIRE) -- Rocky Mountain High Brands, Inc. (OTC: RMHB) today announced a management restructuring of the Company, including additional initiatives to optimize the Company’s capabilities and overall business performance. This strategic move marks a new chapter in the Company's growth and a broader vision for its future.
RMHB has retained turn-round specialists well versed in the restructuring of small and large companies both private and public. A new focus will be directed towards cutting expenses, reducing debt and improving customer service along with supplying new operating funds. Through contacts and personal relationships, the consultants are able to jumpstart RMHB and its subsidiaries by maintaining proper finished goods inventory on their own brands and providing shorter lead times for private label customers’ products below previous burden costs.
Consultants with strong backgrounds in manufacturing, sales & marketing, finance, as well as a vast network of associates will be available to fast track the improvement of the Company’s infrastructure including additional investment capital. The ability for RMHB to have high-volume, low-cost products available has already been put in place. Negotiations are underway with existing and new customers for this production to take place starting during the fourth quarter of 2024 with major revenue increases taking place in the first quarter of 2025.
The consultants have complete control of all funds received from sales revenue, loans and investment capital which will be used to fuel the path forward, growth and reduce current debt. Different decision makers have been put in place to ensure the Company and its subsidiaries are heading in the right direction in all matters relating to RMHB’s business operations, including operational efficiency, productivity, marketing, sales strategy and funding.
Short term goals are as follows:
- Become compliant under Rule 15c2-11 in the 4th quarter of 2024
- Develop strong management that is compensated based on performance
- Implement business strategy resulting in lower G&A costs and lower fixed costs on all products
- Provide access to private capital
- Create improved terms with the Company’s suppliers
- Strengthen existing and new lines of credit to more easily offer terms to customers. The Company has a
$2,000,000 receivable line of credit for its own brands. - Installation of improved intake policies and internal manufacturing standards
RMHB thanks all its stockholders for its belief in the Company. We know that there have been difficult times in the past and are asking for a little more patience to ensure we’re all part of a bigger, brighter future together.
Rocky Mountain High Brands, Inc. (RMHB) is a diversified and dynamic Company committed to making a difference by raising the quality and expectations in the beverage sector for Company owned brands as well as key niche opportunities. Our DNA is rooted in innovation.
Rocky Mountain Productions, Inc., a wholly owned subsidiary of RMHB, specializes in cold and hot fill beverages and ready-to-drink beverages. It is uniquely positioned to co-pack our brand drinks as well as private label with all the best-in-class services needed to get products ready for market.
Rocky Mountain NexBev, Inc., a wholly owned subsidiary of RMHB, specializes in non-alcoholic beverages, including energy drinks, custom drinks, CBD & hemp, and other specialty drinks. The Company is experienced in managing the development, design, and production of beverages for a variety of categories and new customers. A large amount of short-term revenue will likely be generated by focusing on opportunities that have been available to Rocky Mountain NexBev for some time with the Company lacking the funds to execute.
Information about Forward-Looking Statements: This release may include forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 that involves risks and uncertainties including, but not limited to, the impact of competitive products, the ability to meet customer demand, the ability to manage growth, acquisitions of technology, equipment, or human resources, the effect of economic business conditions and the ability to attract and retain skilled personnel. Words such as “anticipate,” “estimate,” “expect,” “intend,” “plan,” “project” and other similar words and expressions are intended to signify forward-looking statements. Forward-looking statements do not guarantee future results and conditions but rather are subject to various risks and uncertainties. Some of these risks and uncertainties are identified in the Company’s filings with the OTC Markets. The occurrence of any of these risks and uncertainties could have a material adverse effect on the Company’s business, financial condition, and results of operations. The Company is not obligated to revise or update any forward-looking statements to reflect events or circumstances that may arise after the date of this release.
Contact:
Paul Knopick
pknopick@eandecommunications.com
FAQ
What are the main goals of RMHB's 2024 restructuring plan?
When does RMHB expect to see major revenue increases from its restructuring?
What is the size of RMHB's new receivable line of credit?
What operational changes is RMHB implementing in its restructuring?
