It’s been pretty quiet in the way of press releases since Tinley Beverage Company (TNY.C)publicized that it was launching it cannabis-infused beverages at the High Times Cannabis Cup in San Bernardino, California at the end of April.
The company extolled how it had increased the Tinley Collective by 800 members over the course of the 3-day event where attendees were able to buy/sample Tinley’s 27 line of beverages.
Company CEO, Jeff Maser, came off confident after the affair, stating, “Cannabis-infused beverages are now emerging as a key consumer trend, fuelled in part by new levels of quality in formulation, and the growing switch from drinking alcohol to medicating with consumable cannabis. Leading dispensaries across California expressed interest and enthusiasm for Tinley’s unique approach to capturing the spirit of classic liquors and cocktails in our line of expertly-crafted, alcohol-free, cannabis-infused creations.”
The public, including myself, were waiting for the orders to pour in and Tinley 27 to establish itself as the de facto king of the cannabis-infused “booze” (not booze).
Shareholders are looking to Jeff for progress reports on the first run of Tinley 27, but no news has been forthcoming, causing some investors consternation, even those used to the concept of patience.
A monthly report submitted on June 5, 2017, to Sedar only revealed the following:
- Tinley continues to develop and implement manufacturing processes and a scaled distribution platform.
- It’s also working social media to increase brand awareness
- And generating orders from brick and mortar retailers
- Recruiting personnel
- Continuing development of cannabis-infused beverages and additional Hemplify products
- Last but not least, preparing for the second production of its Tinley 27 product line.
The submission also stated that the company is producing its products with a large-scale contract manufacturer.
There’s a little wrench in the works with Tetley Tea taking exception to Tinley’s registered trademark. Tetley has formally posed questions and has asked for documentation in relation to Tinley’s mark. Tinley intends to defend its position if necessary.
Some warrants were exercised as well, totalling $23,349.80 for working capital.
Summing up, Tinley’s form stated that, “The Company has seen an increasing number of mainstream stores carrying hemp oil products and has encountered two companies that have developed drinkable hemp oil products. The Company’s hemp oil business involves certain risks and uncertainties that are inherent to the Company’s industry. Please refer to the “Risk Factors” section of the Listing Statement filed on January 27, 2016 on SEDAR and available at www.sedar.com.”
So where does this leave the company? Not much beyond speculation can be determined without a formal press release. Hopefully Tinley will have something coming soon.
FULL DISCLOSURE: Tinley Beverage Company is an EQUITY.GURU client.