SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8 - K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest event reported): August 11, 2004
BRAVO! FOODS INTERNATIONAL CORP.
(Exact name of registrant as specified in its amended charter)
Delaware 0-20549 62-1681831
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
11300 US Highway 1, Suite 202
North Palm Beach, Florida 33408 USA
(Address of principal executive offices)
(561) 625-1411
Registrant's telephone number
China Premium Food Corporation
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(Former name or former address if changed since last report)
Item 5 and Item 9
Public Conference Call
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On August 10, 2004, the Company conducted a public conference call to
announce and discuss the results contained in its Form 10-QSB filed on that
date for the period ended June 30, 2004. The following matters were
discussed at that conference call:
The Company reported total revenue of $1.44 million, with a gross
margin of $506,390, for the quarter ended June 30, 2004, compared to total
revenue of $354,470, with a gross margin of $312,297, for the same period
in 2003, and the first quarter 2004 results of $438,206 total revenue with
a gross margin of $108,000. The Company
reported these numbers within the context of its new revenue recognition
model, effective January 1, 2004, by which it recognizes as revenue the
total wholesale price of its finished product sold to retail outlets and
the total cost of production by the Company's third party processors as
cost of goods sold. Management explained that, while the new recognition
model was responsible for an increase in revenue, increased sales also
played a significant part in the increase in total revenue over any quarter
in the Company's history. The Company reported that selling expenses
remained relatively flat and are expected to decrease in the future with
less necessity for slotting fees and promotions associated with launching
several new product lines.
The Company reported on the status of the launch of its new lines of
flavored milk products, including its new Slammers(r) school line, in a
vitamin fortified 1%, no added sugar flavored milk product with 1/2 calories
and 1/2 carbohydrates for lower & middle grades, and Pro Slammers(tm), a
protein fortified flavored "Extreme Sports" branded milkshake, for high
schools. In connection with its school product lines, the Company reported
the development of a discount purchase or lease vending machine program for
schools.
The Company reported the continued coverage of its Slammers(r) branded
Ultimate Milkshake line with 115,000 cases, or 1,380,000 units, shipped
domestically in May and June 2004. Coverage in all regions of the United
States includes Food Lion, Mars, Wal-Mart, 7-Eleven, Wakefern in the
Northeast, Albertsons, Food Lion, Target Super Stores, Wal-Mart and 7-Eleven
in the Southeast, HEB, Target Super Stores, Wal-Marts and Ralph's in the
South, Wal-Mart, Bashas and 7-Eleven in the Southwest, Wal-Mart in the
Northwest, and Target Super Centers, Wal-Mart and, 7-Eleven in the Midwest.
The Company reported that it will begin working with 5 of 15 distribution
centers for Wal-Mart, which has accepted Slammers(r) as a permanent product
in its dairy cases in those stores serviced by the 5 distribution centers.
In addition, the Company works through over 30 other distributors and
dairies nationally, including Beyer Farms, C&S Metro, C&S New England,
Freshway, White Rose Garelick, Lehigh, Marva Maid and Tuscan Dairy in the
Northeast, Bilo Maudlin, JT Davenport, MR Williams and Velda Farms in the
Southeast, Grocery Supply and Oak Farms in the South, United Grocers, Alta
Dena, Berkeley Farms, Cream O Weber and McLane in the Southwest, Bill's
Distributors and McLane in the Northwest and Dutch Farms, La Bodega, Menu
Makers, Muller Pinehurst, Stephenson, Bareman's, Prairie Farms and Sinton
Dairy in the Midwest. The Company announced that it has just signed a
contract with TNT, the largest brokerage for convenience stores in the
United States, to represent Bravo! in that market segment.
The Company reported that its Slammers(r) branded flavored milks
presently are sold in 712 stores in Middle East, with the expectation of
5,000 stores by October and 12,000 stores by December 2004.
The Company reported that its Slim Slammers(r) was launched with a
first order to be shipped August 16, 2004, that Pro Slammers(tm), in a 16oz
Super Extended Shelf Life 6 month bottle, will start its first production
run next week and be in stores by late
August 2004, and that Slammers(r) Moon Pie(r) will have an initial
production run in mid September and be in stores by late September 2004.
Finally, the Company reported that it has received an initial order
from Cruise Line Services for its products; the size of the order was not
discussed.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
Bravo! Foods International Corp.
Date: August 11, 2004 By: /s/ Roy D. Toulan, Jr.
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Roy D. Toulan, Jr.
Vice President, General Counsel