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1812 Brewing Company Inc.0.0005
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Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
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Key Stats
Market Cap
46.90KP/E (TTM)
-Basic EPS (TTM)
-56.11Dividend Yield
0%Recent Filings
8-K
Suspends SEC filings
Seaway Valley Capital Corporation's board decided on October 7, 2009, to suspend its SEC reporting obligations, filing Form 15 under Rule 12g-4(a)(1)(i) effective immediately. This move, deemed in the company's best interest, halts public disclosures. It signals a shift away from regulatory burdens. Investors now face limited transparency on operations.
10-Q
Q2 FY2009 results
Seaway Valley Capital's Q2 2009 revenue fell 37.7% y/y to $2.2M, with gross profit dropping 41.0% to $0.9M amid inventory shortages and economic weakness, while gross margin held at 41.9%. Operating loss widened to $2.2M from $1.2M, driven by $0.7M in stock-based compensation within $3.1M SG&A. Net loss ballooned to $9.5M, far exceeding the $2.9M operating loss due to $3.4M unrealized derivative losses and $1.3M interest expense. Cash from continuing operations reached $3.2M for the half-year, but total cash dipped to $0.4M after $1.8M capex-free FCF; line of credit shrank to $0.6M under forbearance before full repayment post-quarter. Retail segment, 72% of revenue, bore the brunt of declines, yet store closures streamlined operations. Hospitality added steady $1.2M YTD. Litigation with vendors and True Value over trademarks poses ongoing collection risks.
8-K
Secures $20M equity line
Seaway Valley Capital Corporation inked a drawdown equity financing deal with Auctus Private Equity Fund on June 5, 2009, securing up to $20 million in common stock over 36 months through periodic puts starting at $150,000 or more based on trading volume. Shares price at 93% of the lowest bid during a five-day period, with sales halting below a 75% floor unless waived. This bolsters liquidity but risks dilution for shareholders amid market volatility.
8-K
Preferred stock swap for debenture
Seaway Valley Capital Corporation exchanged 1,028,410 shares of Series C Preferred Stock with SC Partners for a $4,113,640 secured convertible debenture at 12% interest, maturing May 1, 2011, and a warrant for 10,000,000 common shares at $0.01 each, exercisable until May 20, 2014. The deal, struck on May 20, 2009, secures all assets and aims to bolster the balance sheet for business plan execution. Yet dilution looms large. Conversion hinges on variable pricing.
10-Q
Q1 FY2009 results
Seaway Valley Capital posted Q1 revenue of $2.99M, up 12.6% y/y from $2.65M, thanks to the North Country Hospitality acquisition, yet gross profit fell 39.0% to $0.41M as cost of revenue climbed 30.4% to $2.57M, squeezing margins amid seasonal hospitality dips and Hackett's compression. Operating loss widened 41.6% y/y to $1.61M, while net loss ballooned to $3.95M from $2.93M, the gap driven by $0.93M higher interest expense and $0.68M loss on discontinued store disposals. Cash swung to $1.26M provided from operations, but ended at a thin $0.16M after line repayments; total debt stood at $28.37M including $5.93M net convertible debentures, with the $1.51M Wells Fargo line in default and forbearance secured May 2009 for 13-week payoff. Store closures cut capex to $0.02M. Liquidity hangs by a thread.
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