HENDERSON, Nev.--()--California Grapes International, Inc. (OTCPINK: CAGR) a leading provider of full service export, marketing, promotions, distribution and sales for the CA Wine Industry internationally, has completed the first quarter of 2012 and is looking ahead to a very strong year end.
Sales revenues for the first quarter of 2012 ended up at approximately $200,000 and exceeded the company’s expectations. As the company continues to develop and establish a stronger foundation for revenue generation and expansion in China, we are confident in meeting our first year’s revenue and profit goals. “CGI” expects to complete the up-listing process and become fully reporting later this year. We will begin providing revenue guidance once our retail location has established a performance base.
The “CGI” Retail Store was targeted for first part of April 2012 to open. This has been delayed and is now targeted for the first part of May 2012 for the Grand Opening. The creation of a “new” Beijing subsidiary for reduced tax purposes, holiday schedules, demolition times and detailed planning for the right materials and fixtures for the build-out, all contributed to a longer process than expected. As preparation is the key for success, we believe the decision to move the opening date out will greatly benefit all future deployments.
The Bull Consulting Group www.thebullconsulting.com has been retained by “CGI”. With the high level corporate business resources, extensive wine experience and vast international reach of Mr. Kauderer (CEO – The Bull Consulting Group), the synergies of this relationship will help catapult “CGI” in achieving our models full potential. Mr. Kauderer was the critical component in securing the AGS “REF” and is already pursuing opportunities for “CGI’s” expansion into S. Korea. As we continue to refine the corporate structure, Mr. Kauderer also plays a significant role in the alleviation of outstanding debt that has burdened the company for several years.
The United Arab Emirates (UAE) has been an ongoing engagement. The original planned dates for “CGI” at the end of February 2012 ran into several scheduling conflicts. Our Importer, MMI, and some competing food and beverage events being held during the purposed dates, were a main contributing factor in rescheduling. In corporative efforts with US Embassy and Commerce Department, our new dates have now been solidified for May 15th thru 22nd. This additional preparation time has provided for some very valuable developments to come to fruition and additional news will be announced in the coming weeks outlining the entire event schedule and expectations of “CGI’s” position in the UAE.
Marble Arch and “CGI” were brought together through a consulting solution/package offered by way of Constantine Financial Management (CFM). This engagement with CFM ended up to be not in line with the company’s objectives and terminated. The nature of the relationship with Marble Arch in providing an IR resource and generating the Equity Research Report for “CGI” is no longer viable for “CGI”. We are currently communicating and evaluating new IR organizations and will provide information upon finalizing any new agreements.
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Information in this press release may contain 'forward-looking statements.' Statements describing objectives or goals or the Company's future plans are also forward-looking statements and are subject to risks and uncertainties, including the financial performance of the Company and market valuations of its stock, which could cause actual results to differ materially from those anticipated. Forward-looking statements in this news release are made pursuant to the 'Safe Harbor' provisions of the United States Private Securities Litigation Reform Act of 1995.