Growers Direct Coffee, Inc. (GWDC.OB) “Up 88.89% on Wednesday”
Source: http://Blog.QualityStocks.net/?p=11732Posted on Thursday, August 14th, 2008 | In Market Commentary, OTCBB Markets, Small & Micro Cap, Stocks to Watch
Growers Direct Coffee, Inc. (GWDC.OB) is a leading worldwide distributor and marketer of whole green-bean coffee produced in Papua New Guinea, Jamaica, and Ethiopia. The company sells its coffee beans directly to coffee roaster retailers, commercial roasters, coffee brokers, and gourmet roasters and retailers. The company offers its products throughout the US, Canada, and Europe.
The recent rise in the stock price of Growers Direct Coffee can be attributed to recent management changes made at the company. In late July, the former CEO Terry Klassen resigned. The company had not been able to secure additional funding to execute their business plan. Lenders had cited the company’s “overzealous use of funds.”
Subsequently, Growers Direct Coffee announced a new management team. Mr. JD Douthitt became Chairman of the Board, Mr. Nepal Muhuri became interim CFO, Mr. Paul Khahshouri became interim CEO, and Mr. Mick Rynning became a new director of the company. The company is especially pleased to have Mr. Rynning aboard.
Chairman Douthitt commented that “Mr. Rynning is a hands-on guy who has the experience and exceptional credentials in the food and beverage industry, particularly in the coffee and franchise sector.” Mr. Rynning was recently the president of Ellianos Coffee Company. Other prior experience at the senior management level included working with four AFC Enterprises subsidiary brands (Church’s Chicken, Popeye’s Chicken, Cinnabon, and Seattle’s Best Coffee).
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