Reed's, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Reed's, Inc. has filed its 2023 10-K report, detailing financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

REED'S, INC. (REED) filed a Annual Report (10-K) with the SEC on April 1, 2024. Reed's, Inc. filed its 2023 Form 10-K on April 1, 2024, reporting on the fiscal year ending December 31, 2023. The company's principal business is in Bottled & Canned Soft Drinks Carbonated Waters. Key financial data for the fiscal years ending December 31, 2023, and December 31, 2022, are presented. The filing details stock information including Common Stock, Preferred Stock, Additional Paid-In Capital, and Retained Earnings for the years 2021-2023. Information regarding customer and supplier concentration risk is disclosed for specific customers and vendors.

Why It Matters

For investors and stakeholders tracking REED'S, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Reed's financial health, operational risks, and strategic positioning within the beverage industry for the past fiscal year. Investors and stakeholders can use this report to assess the company's performance, understand its financial structure, and evaluate potential risks and opportunities moving forward.

Risk Assessment

Risk Level: medium — REED'S, INC. shows moderate risk based on this filing. The company faces medium risk due to potential customer and supplier concentration, as indicated by specific customer and vendor disclosures in the filing.

Analyst Insight

Review the detailed financial statements and risk factor disclosures in the 10-K to understand Reed's performance and strategic outlook.

Key Numbers

• 2023-12-31 — Fiscal Year End (CONFORMED PERIOD OF REPORT)
• 2024-04-01 — Filing Date (FILED AS OF DATE)
• 2023-01-01 — Fiscal Year Start (P4Y)
• 2022-12-31 — Prior Fiscal Year End (2022-12-31)

Key Players & Entities

• REED'S, INC. (company) — COMPANY CONFORMED NAME
• REED'S INC (company) — FORMER COMPANY
• ORIGINAL BEVERAGE CORP (company) — FORMER COMPANY
• 201 MERRITT 7 CORPORATE PARK (company) — BUSINESS ADDRESS STREET 1
• NORWALK (company) — BUSINESS ADDRESS CITY
• DE (company) — STATE OF INCORPORATION
• CustomerOneMember (company) — Customer Concentration Risk
• VendorOneMember (company) — Supplier Concentration Risk

FAQ

Risk Factors

• Customer Concentration Risk [medium — market]: The company's sales revenue and accounts receivable are concentrated with specific customers, posing a risk if these relationships are disrupted.
• Supplier Concentration Risk [medium — market]: Reliance on a single vendor for certain inputs creates a risk if that supplier experiences disruptions or changes terms.

Key Dates

• 2024-04-01: 10-K Filing — Annual report filing for fiscal year 2023.
• 2023-12-31: Fiscal Year End — End date for the reporting period.

Key Financial Figures

• $41 billion — industry as natural alternatives to the $41 billion mainstream carbonated soft drinks ("CSD
• $1.9 billion — ginger ale segment grew 7% and is now a $1.9 billion-dollar market. Ginger ale growth, we be

Filing Documents

• form10-k.htm (10-K) — 1587KB
• ex3-vi.htm (EX-3.VI) — 27KB
• ex4-7.htm (EX-4.7) — 86KB
• ex4-8.htm (EX-4.8) — 76KB
• ex4-9.htm (EX-4.9) — 77KB
• ex10-1.htm (EX-10.1) — 101KB
• ex10-2.htm (EX-10.2) — 107KB
• ex10-3.htm (EX-10.3) — 124KB
• ex10-23.htm (EX-10.23) — 35KB
• ex14.htm (EX-14) — 42KB
• ex21.htm (EX-21) — 2KB
• ex23.htm (EX-23) — 2KB
• ex31-1.htm (EX-31.1) — 12KB
• ex31-2.htm (EX-31.2) — 13KB
• ex32-1.htm (EX-32.1) — 6KB
• ex32-2.htm (EX-32.2) — 6KB
• ex97.htm (EX-97.1) — 52KB
• 0001493152-24-012505.txt (&nbsp;) — 8176KB
• reed-20231231.xsd (EX-101.SCH) — 61KB
• reed-20231231_cal.xml (EX-101.CAL) — 73KB
• reed-20231231_def.xml (EX-101.DEF) — 273KB
• reed-20231231_lab.xml (EX-101.LAB) — 536KB
• reed-20231231_pre.xml (EX-101.PRE) — 419KB
• form10-k_htm.xml (XML) — 939KB

Risk Factors

Item 1A. Risk Factors 11

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 17

Cybersecurity

Item 1C. Cybersecurity 17

Properties

Item 2. Properties 17

Legal Proceedings

Item 3. Legal Proceedings 18

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 18 PART II 18

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 18

[Reserved]

Item 6. [Reserved] 18

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

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 18

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 25

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data F-1

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 26

Controls and Procedures

Item 9A. Controls and Procedures 26

Other Information

Item 9B. Other Information 26

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 26 PART III 27

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 27

Executive Compensation

Item 11. Executive Compensation 30

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

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 32

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 34

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 36 PART IV 37

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 37

Form 10-K Summary

Item 16. Form 10-K Summary 37 i CAUTIONARY This Annual Report on Form 10-K contains statements reflecting our views about our future performance that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 (Reform Act). Statements that constitute forward-looking statements within the meaning of the Reform Act are generally identified through the inclusion of words such as "aim," "anticipate," "believe," "drive," "estimate," "expect," "expressed confidence," "forecast," "future," "goal," "guidance," "intend," "may," "objective," "outlook," "plan," "position," "potential," "project," "seek," "should," "strategy," "target," "will" or similar statements or variations of such words and other similar expressions. All statements addressing our future operating performance, and statements addressing events and developments that we expect or anticipate will occur in the future, are forward-looking plans and projections about future events and trends. They inherently involve risks and uncertainties that could cause actual results to differ materially from those predicted in any such forward-looking statement. These risks and uncertainties include, but are not limited to, those described in "Item 1A. Risk Factors" and "Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations." Investors are cautioned not to place undue reliance on any such forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. The discussion of risks in this report is by no means all-inclusive but is designed to highlight what we believe are important factors

View Full Filing

View this 10-K filing on SEC EDGAR