Innovative Beverage Group Holdings reports increase in revenue

HOUSTON Innovative Beverage Group Holdings announced its financial results, ended Dec. 31, 2008.

The company reported that for the 12 months ended Dec. 31, 2008, gross revenue was $2,212,938, an increase of 198.5%, compared with $741,255 for the 12 months ended Dec. 31, 2007.

Net income for the 12 months ended Dec. 31, 2008 was $171,193 or $0.03 per share, compared with a loss of ($320,206) or (0.005) per share for the 12 months ended Dec. 31, 2007.

The company attributed its revenue increase to the launch of its proprietary product drank, dubbed the "World's First Extreme Relaxation Beverage". It combines the natural calming effects of melatonin, valerian root and rose hips, and is sold in 16-ounce cans bearing the popular slogan "Slow Your Roll."

"As we bring on new major distribution partners we feel will be able to meet the increased demand for drank on a national level," said Peter Bianchi, CEO of Innovative Beverage Group.