Reed’s announced today that it has been notified by the NASDAQ Stock Market LLC that its common stock is approved for listing on The NASDAQ Capital Market. Currently, the Company is going through the required procedures and anticipates that its common stock will begin trading on the NASDAQ today.
“The approval of our stock for listing on NASDAQ represents a significant milestone in Reed’s progress and development as a publicly traded company. We are tremendously proud of this accomplishment which represents the completion of several steps we have taken to financially position Reed’s for future growth. We remain extremely excited about our market position and growth prospects and believe the listing on NASDAQ will give Reed’s the ability to attract a larger segment of the financial markets and provide improved liquidity,” stated Christopher Reed, Founder and CEO of Reed’s, Inc.
Reed’s impressive product line, most of which is made of fresh ginger, has captured the attention of publications throughout the United States. Some of the magazines that have most recently featured Reed’s products include: Everyday Faves with Rachael Ray, Blueprint by Martha Stuart, The Washington Post, First for Women, All You, and Better Nutrition.
In the most recently reported quarter, the new age beverage company reported a 31% increase in Net Sales to $10.40 million, 34.9% increase in Gross profit to $2 million and a Gross margin increase of 19.5%. The tremendous growth demonstrated by Reed’s is credited to its efforts to leverage their image as the number one soft drink in the health foods market, among other key factors.
Mr. Reed revealed his plans to expand internationally earlier this month when he stated, “A major component to our future growth strategy will be establishing Reed’s as a global brand. While we are early in our international expansion efforts, we see tremendous opportunity to increase our international presence through additional points of distribution within select international markets including Mexico, Latin America, Europe, India and the Asia Pacific region.”
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