EQUATOR Beverage Co Files 2023 Annual Report

TL;DR

<b>EQUATOR Beverage Co filed its 2023 10-K, reporting $16.9M in revenue and a net income of $37,813.</b>

AI Summary

EQUATOR Beverage Co (MOJO) filed a Annual Report (10-K) with the SEC on March 22, 2024. EQUATOR Beverage Co reported total assets of $16,230,615 for the fiscal year ending December 31, 2023. The company's total debt was $180,060 as of December 31, 2023. Net income for the fiscal year ending December 31, 2023, was $37,813. Earnings per share (EPS) for the fiscal year ending December 31, 2023, were $0.001. Revenue for the fiscal year ending December 31, 2023, was $16,933,346.

Why It Matters

For investors and stakeholders tracking EQUATOR Beverage Co, this filing contains several important signals. The filing provides a detailed financial snapshot of EQUATOR Beverage Co's performance and position as of year-end 2023, crucial for investors assessing its stability and growth potential. Understanding the company's asset base, debt levels, and profitability is key for stakeholders to evaluate its financial health and make informed investment decisions.

Risk Assessment

Risk Level: medium — EQUATOR Beverage Co shows moderate risk based on this filing. The company has a relatively small asset base and significant debt compared to its assets, indicating potential financial constraints.

Analyst Insight

Investors should closely examine the company's revenue growth and profitability trends in future filings to determine its long-term viability.

Financial Highlights

revenue

16933346

total Assets

16230615

total Debt

180060

net Income

37813

eps

0.001

Key Numbers

• 16,933,346 — Revenue (Fiscal year ending December 31, 2023)
• 16,230,615 — Total Assets (As of December 31, 2023)
• 180,060 — Total Debt (As of December 31, 2023)
• 37,813 — Net Income (Fiscal year ending December 31, 2023)
• 0.001 — EPS (Fiscal year ending December 31, 2023)
• 2023-12-31 — Fiscal Year End (Reported period)
• 2024-03-22 — Filing Date (Date of submission)

Key Players & Entities

• EQUATOR Beverage Co (company) — Filer name
• MOJO Organics, Inc. (company) — Former company name
• Mojo Organics, Inc. (company) — Former company name
• Mojo Ventures, Inc. (company) — Former company name
• Glenn Simpson (person) — Mentioned in relation to shares and board of directors
• Jeffrey Devlin (person) — Mentioned in relation to restricted stock
• Diane Cudia (person) — Mentioned in relation to restricted stock
• Jersey City (location) — Business and mailing address city

FAQ

Risk Factors

• Financial Condition [medium — financial]: The company's financial condition, including its ability to fund operations and meet financial obligations, is subject to various risks.
• Market Acceptance [medium — market]: The success of the company's products depends on market acceptance and consumer demand.
• Operational Risks [medium — operational]: The company faces operational risks related to manufacturing, supply chain, and distribution.

Key Financial Figures

• $0.001 — Section 12(g) of the Act: Common Stock, $0.001 par value per share Indicate by check
• $0.30 — eported last sale price on such date of $0.30 per share) held by non-affiliates of th
• $0 — he registrant's common stock, par value $0.001, issued and outstanding. DOCUMENTS

Filing Documents

• mojo_10k.htm (10-K) — 555KB
• mojo_ex311.htm (EX-31.1) — 10KB
• mojo_ex321.htm (EX-32.1) — 4KB
• mojo_10kimg1.jpg (GRAPHIC) — 3KB
• 0001477932-24-001422.txt (&nbsp;) — 2499KB
• mojo-20231231.xsd (EX-101.SCH) — 19KB
• mojo-20231231_lab.xml (EX-101.LAB) — 137KB
• mojo-20231231_cal.xml (EX-101.CAL) — 25KB
• mojo-20231231_pre.xml (EX-101.PRE) — 116KB
• mojo-20231231_def.xml (EX-101.DEF) — 60KB
• mojo_10k_htm.xml (XML) — 349KB

Business

Business 2 Item 2.

Risk Factors

Risk Factors 3 Item 3. Unresolved Staff Comments 10 Item 4.

Legal Proceedings

Legal Proceedings 10 Item 5. Mine Safety Disclosures 10 PART II Item 6. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 11 Item 7.

Selected Financial Data

Selected Financial Data 11 Item 8.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 12 Item 9.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 13 Item 10.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 13 Item 11. Changes and Disagreements with Accountants on Accounting and Financial Disclosure 14 Item 12.

Controls and Procedures

Controls and Procedures 14 Item 13. Other Information 14 PART III Item 14. Directors, Executive Officer and Corporate Governance 15 Item 15.

Executive Compensation

Executive Compensation 16 Item 16.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 17 Item 17. Certain Relationships and Related Transactions, and Director Independence 18 Item 18. Principal Accountant Fees and Services 18 PART IV 21 Item 19. Exhibits, Financial Statement Schedules 19

SIGNATURES

SIGNATURES 20 ii Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This report contains information that may constitute "forward-looking statements". Generally, the words "believe", "expect", "intend", "estimate", "anticipate", "project" "will" and similar expressions identify forward-looking statements, which generally are not historical in nature. However, the absence of these words or similar expressions does not mean that a statement is not forward-looking. All statements that address operating performance, events or developments that we expect or anticipate will occur in the future — including statements relating to volume growth, share of sales and net income per share growth, and statements expressing general views about future operating results — are forward-looking statements. Management believes that these forward-looking statements are reasonable as and when made. However, caution should be taken not to place undue reliance on any such forward-looking statements because such statements speak only as of the date when made. Our Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. In addition, forward-looking statements are subject to certain risks and uncertainties that could cause our Company's actual results to differ materially from historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, the possibility that the assumptions used to calculate our estimated aggregate incremental tax and interest liability related to the potential unfavorable outcome of the ongoing tax dispute with the United States Internal Revenue Service could significantly change; those described in Part I, "Item 2. Risk Factors" and elsewhere in this report; and those described from time to time in our future reports filed with the Securities and Exchange Commission. 1 Table of Contents PART I

BUSINESS

ITEM 1. BUSINESS In this report, the terms "EQUATOR," "EQUATOR Beverage Company," the "Company," "we," "us" and "our" mean EQUATOR Beverage Company. COMPANY OVERVIEW EQUATOR Beverage Company, headquartered in Jersey City, NJ, is a Delaware corporation that specializes in developing, producing, distributing, and marketing new beverage products. Our beverages have been certified Non-GMO Project Verified and USDA Organic, and we offer both nonalcoholic and ready-to-drink alcoholic options. In addition, we have a line of sparkling energy beverages targeted towards female consumers. Our beverages can be found in North America, the Caribbean, and Bermuda. We are committed to sustainability and use 100% recyclable, eco-friendly packaging that has a minimal impact on the environment. Furthermore, our products are plant-based, renewable, and eco-friendly. Coconut water is nature's super hydration drink for skin and body. In each 11 oz serving, there are five essential electrolytes totaling 1043 mg more than other sports drinks. It is a fast rehydration recovery drink which performs faster than water. Coconut water has natural nutrients for skin and hair and vitamins B & C natural - not added. Coconut water is plant based and renewable; great for vegan, kosher, paleo keto and low carb diets. All this comes with a fresh crisp coconut taste. There are no preservatives in this coconut water and it is packaged in an eco-friendly container. CURRENT OPERATIONS Sales and Distribution The Company's main product is MOJO Coconut Water. In addition to Coconut Water, the Company produces Coconut Water + Pineapple Juice, Organic Coconut Water, Sparkling Coconut Water Citrus, Sparkling Coconut Water Blood Orange, Sparkling Coconut Water Pink Grapefruit, Energy Sparkling Citrus, Energy Sparkling Blood Orange, Energy Sparkling Pink Grapefruit, Cubano Blue Agave Tequila Organic Sparkling Coconut Water Citrus and Cubano Blue Agave Tequila Organic Sparkling Coconut Water Blood O

RISK FACTORS

ITEM 2. RISK FACTORS In addition to the other information set forth in this report, you should consider the following factors, which could materially affect our business, financial condition or results of operations in future periods. The risks described below are not the only risks facing our Company. Additional risks not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial condition or results of operations in future periods. RISKS RELATED TO OUR OPERATIONS Unfavorable general economic and geopolitical conditions could negatively impact our financial results. Our business, operating results, financial condition and liquidity may be adversely affected by changes in global economic conditions, including inflation, credit market conditions, increased unemployment, levels of consumer and business confidence, commodity (including energy) prices and supply, a recession or economic slowdown, trade policies, foreign currency exchange rates, changing policy positions or priorities, levels of government spending and deficits, and actual or anticipated default on sovereign debt. Many of the locations in which our products are sold have experienced, and could continue to experience, unfavorable changes in economic conditions, which could negatively affect the affordability of, and consumer demand for, our beverages. Under difficult economic conditions, consumers may seek to reduce discretionary spending by forgoing purchases of our products or by shifting away from our beverages to lower-priced products offered by other companies, including private-label brands, which could reduce our profitability and negatively affect our overall financial performance. Other financial uncertainties in our major markets and unstable geopolitical conditions or events in certain markets, including civil unrest, acts of war, terrorism or governmental changes, or changes in international relations could undermine gl

View Full Filing

View this 10-K filing on SEC EDGAR