The revenue is realized with the critical event (see planned sources of revenue below) and the amount of revenue is measurable. Dalmore is not an underwriter and will not be paid underwriting fees but will be paid service fees. The Company was converted to a Delaware corporation after a Certificate of Conversion and a Certificate of Incorporation were filed with the state of Delaware on or about August 21, 2020. A host of factors beyond the Company's control could cause fluctuations in these conditions. I mean, I wont be shelling out that much cash for a sticker and a few minor benefits, but Im sure someone might. The Company believes that maintaining and enhancing awareness of the Company's brand and its products is critical to achieving widespread acceptance and success of the Company's business. The Company is current with its foreign, U.S. federal and state income tax filing obligations and is not currently under examination from any taxing authority. The company is headquartered in Tampa, Florida, and it has a strong presence in the United States. The Company has competitors both in the United States and internationally. We are particularly determined as a company, to use our success to help those transitioning from military service to civilian life as well as assisting with veteran homelessness and suicide prevention. At present, managements best estimate of the use of proceeds, at various funding milestones, is set out in the chart below. We. Mr. Almericos law firm, Kendall A. Almerico, P.A., is counsel named in this Offering Circular as having prepared this Offering Circular. They own over 500 brands of beer including Budweiser, Stella Artois, and Corona. Such future fund raising will further dilute the percentage ownership of the Shares sold herein in the Company. Share only with people of legal drinking age. The Company anticipates competition among domestic craft brewers will remain strong, as many local craft brewers continue to experience growth. This Offering will commence after qualification by the Commission and is expected to expire on the first of: (i) all of the Shares offered are sold; or (ii) the close of business 365 days from the date of qualification by the Commission, unless sooner terminated or extended by the Companys CEO for up to another 365 days, or (iii) the date upon which a determination is made by the Company to terminate the Offering in the Companys sole and absolute discretion. FOR GENERAL INFORMATION ON INVESTING, WE ENCOURAGE YOU TO REFER TO WWW.INVESTOR.GOV. The differences may be caused by a variety of factors, including but not limited to adverse economic conditions, lack of market acceptance, reduction of consumer demand, unexpected costs and operating deficits, lower sales and revenues than forecast, default on leases or other indebtedness, loss of suppliers, loss of supply, loss of distribution and service contracts, price increases for capital, supplies and materials, inadequate capital, inability to raise capital or financing, failure to obtain customers, loss of customers and failure to obtain new customers, the risk of litigation and administrative proceedings involving the Company or its employees, loss of government licenses and permits or failure to obtain them, higher than anticipated labor costs, the possible acquisition of new businesses or products that result in operating losses or that do not perform as anticipated, resulting in unanticipated losses, the possible fluctuation and volatility of the Companys operating results and financial condition, adverse publicity and news coverage, inability to carry out marketing and sales plans, loss of key executives, changes in interest rates, inflationary factors, and other specific risks that may be referred to in this Offering Circular or in other reports issued by us or by third-party publishers. Unless Extended For Up To Another 365 days or Terminated Earlier By The Issuer. He has been involved in Maryland craft beer legislation and testified before the Maryland House Economic Matters Committee on several pieces of legislation affecting Marylands craft beer industry and deaf business owners. Should such additional broker-dealers be engaged, an amendment or supplement to this Offering Circular will be filed disclosing the additional fees. The FASB issues ASUs to amend the authoritative literature in ASC. Jeff has been involved with more than 50 openings, remodels, and consultations in his career. www.armedforcesbrewingco.com, or a website owned and operated by a third party that provides technology support to issuers engaging in equity crowdfunding efforts. Unfortunately, the pandemic halted contract brewing operations and the Company could not contract brew any of its beer nor could it continue to test market its products through most of 2020, but the Company resumed contract brewing with its production partners in December of 2020. This offering consists of Shares of Class C Common Stock (the Shares or individually, each a Share) that are being offered on a best efforts basis, which means that there is no guarantee that any minimum amount will be sold. With their knowledge of beer and my knowledge of the industry and connection to the military, it was a great fit.. The Company may establish an audit committee, compensation committee, a nominating and governance committee and other committees to its Board of Directors in the future but have not done so as of the date of this Offering Circular. Processing fees and other charges may be added to the subscription amount to pay for the third-party costs of processing investor payments. The rights, preferences and privileges of the Class A Common Stock, Class B Common Stock and Class C Common Stock are set forth in the Companys Certificate of Incorporation (Exhibit 1A-2A) and Bylaws (Exhibit 1A-2B) and are described in summary form in this section of the Offering Circular. Moreover, the introduction of new products by competitors that compete directly with the Companys products or that diminish the importance of the Companys products to retailers or distributors may have a material adverse effect on the Companys business and financial results, as well as your investment. Through good times and bad, the beer industry enjoys steady rates of consumer consumption and is one of the top beverages of choice around the world. Good beer to start off with . The Company intends to purchase or build one or more breweries, and to reduce reliance on contract brewing. Depending on where investor resides, the Company may not be able to ship beer to the investor. If all of the Shares in this Offering are sold, the Shares would represent approximately 16.19% of the issued and outstanding combined shares of the Company. Armed Forces Brewing has successfully completed a test market run and is ready to expand to national and global distribution. The Company has broad discretion in its use of proceeds and, as an investor, you are relying on managements judgment. Changes In Tax Laws, Or Their Interpretation, And Unfavorable Resolution Of Tax Contingencies Could Adversely Affect The Companys Tax Expense. Some of the largest competitors have acquired and will continue to acquire craft brewers or introduce new domestic specialty brands and hard seltzers to many markets and expand their efforts behind existing brands. Article XIV of the Companys Bylaws set out various restrictions on transfer that attach to the Shares of Class C Common Stock being sold in this Offering. A sector that exploded for them recently has been craft breweries. If the Company engages the services of additional broker-dealers in connection with the Offering, their commissions will be an additional expense of the Offering. The Company does not expect to update or otherwise revise this Form 1-A, Offering Circular or other materials supplied herewith except as required by law in which case the Company will file post-qualification amendments or offering circular supplements as facts and circumstances warrant. We are Veteran owned, Veteran operated, and we make great American beer for America's Military Heroes, First Responders, and Patriots. There can be no assurances that there are no significant deficiencies or material weaknesses in the quality of our financial controls. ONeill is one of the most highly decorated combat veterans of this era, serving as a combat leader for Seal Team 6. Boston Beer also has no debt, which is a rarity among the massive global beer conglomerates. On or about December 4, 2020, the Company filed a Certificate of Amendment of Certificate of Incorporation with the state of Delaware whereby the Companys name was changed to Armed Forces Brewing Company, Inc. (Exhibit 1A-2A). No person has been authorized to give any information or to make any representations concerning our company other than those contained in our offering circular, and if given or made, such other information or representation must not be relied upon. The amount of unrelated business taxable income in excess of $1,000 in any fiscal year will be taxed at rates up to 36%. Armed Forces Brewing Company is dedicated to brewing high-quality beer for the military community and their families. Although the Company expects to develop arrangements with distributors, growth will require it to maintain such relationships and enter into agreements with additional distributors. He is anArmed Forces Brewing Companydirector instrumental in quality control. When you apply to invest in the Company, the funds you tender will in some cases be kept in an escrow account with PrimeTrust, or a holding account set up through one of three payment processing alternatives (Circle, Dwolla or Sila) until the next closing after they are received in said account. That brings us to the present day. If you decide to add some beer stocks to your portfolio, bear in mind some of these stocks can exhibit volatile price action. Armed Forces Brewing Company has a taproom and brewery in Kearny Mesa, and a second location in Carlsbad. The Company had $30,881 revenue from January 1, 2018 to December 31, 2019. . THESE SECURITIES MAY NOT BE SOLD NOR MAY OFFERS TO BUY BE ACCEPTED BEFORE THE OFFERING STATEMENT FILED WITH THE COMMISSION IS QUALIFIED. The Company currently maintains no general liability, automobile, life, health, property, or directors' and officers' insurance policies. The brewery plans to expand distribution to other states in the future. The terms of preferred stock could be more advantageous to those investors than to the holders of Shares of Class C Common Stock. Sign up to receive a daily email of today's top military news stories from Stars and Stripes and top news outlets Adverse conditions may include recession, downturn or otherwise, local competition or changes in consumer taste. They have a market capitalization of over $200 billion. You should not expect to be able to influence any decisions by management of the Company through voting on Company matters. The Company sold all of its test market inventory by March of 2020 as consumer demand for alcohol products rose during the COVID outbreak. Until such committees are established, matters that would otherwise be addressed by such committees will be acted upon by the entire Board of Directors. Armed Forces Brewing Company is a craft beer company founded by two veterans of the US military. Consequently, investors must rely on sales of their Shares after price appreciation, which may never occur, as the only way to realize any gains on their investment. Additionally, their rapid growth could lead to some growing pains, and they may not be able to maintain the same level of quality as they expand. No matter what the economy, we always need these products. In addition to the veteran and spouse, two or more persons who intend to hold title may be placed on the mortgage with the veteran. The Companys future financial performance and its ability to commercialize its business and to compete effectively will depend, in part, on its ability to manage any future growth effectively. As such, you will not be afforded protection, by any provision of the Shares or as a Shareholder, in the event of a transaction that may adversely affect you, including a reorganization, restructuring, merger or other similar transaction involving the Company. Grocery Outlet (GO) Q4 2022 Earnings Call Transcript, Cumulative Growth of a $10,000 Investment in Stock Advisor, Copyright, Trademark and Patent Information. If These Assumptions Or Analyses Prove To Be Incorrect, The Companys Actual Operating Results May Be Materially Different From Its Forecasted Results. Specifically, this one. Terms Of Subsequent Financing, If Any, May Adversely Impact Your Investment. Is It Time to Buy? Armed Forces Brewing Company is dedicated to supporting the military community through its charitable foundation, the Armed Forces Foundation. Before investing, you should carefully read and carefully consider the following: The Company, The Alcohol, Restaurant and Bar Industry And The U.S. And Global Economies Have Been Substantially Affected By The Coronavirus Pandemic. And theres more! he said with a chuckle. Securities to be issued pursuant to this Offering will be Shares of Class C Common Stock. 2019-08 will affect companies that issue share-based payments (e g., options or warrants) to their customers. Except as stated above, subscribers have no right to a return of their funds unless no closing has. DIFFERENT RULES APPLY TO ACCREDITED INVESTORS AND NON-NATURAL PERSONS. An Annapolis-based beer company landed a deal with Walmart and Sam's Club to distribute its brands around the country, making it one of the largest contracts in Maryland's. The maximum gross proceeds from the sale of the Shares in this Offering are $7,500,000.00. In the ordinary course of our business, there are many transactions and calculations where the ultimate tax determination is uncertain. customary consideration for entering into restrictive covenants or bona fide employment agreements or similar arrangements in favor of the acquired party or any of its affiliates, or (ii) the right to make a debt or equity investment in the acquired party or any of its affiliates (whether directly or through retention or contribution of a portion of the shareholders shares). *Travel and accommodations not included on any perk** Restrictions apply. There is no guarantee the Company will be able to raise such funds on acceptable terms or at all. The Companys Advertising and Promotional Investments May Affect the Companys Financial Results. The company was founded in 2014 by two former Navy SEALs, Chrisf active military members, reservists, and veterans.The brewerys mission is to create world-class craft beer that celebrates the brave men and women of the United States Armed Forces.A portion of the proceeds from every sale goes towards supporting military charities. Returns as of 03/02/2023. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE. As has occurred with many Internet-based businesses, the Company may be subject to "denial-of-service" attacks in which unknown individuals bombard its computer servers with requests for data, thereby degrading the servers' performance. Operating Expenses. There are now more than 8,000 breweries in operation up from approximately 1,500 breweries in 2009. These laws may include minimum wage requirements, overtime pay, healthcare reform and the implementation of various federal and state healthcare laws, unemployment tax rates, workers' compensation rates, citizenship requirements, union membership and sales taxes. Nearly 20 years after the overthrow of Saddam Hussein by U.S.-led forces, Iraqi President Abdul Latif Rashid wants the world to know his country now is at peace, democratic and intent . An Investment In The Shares Is Speculative And There Can Be No Assurance Of Any Return On Any Such Investment. In addition, Armed Forces Brewing Companys beers are currently available in 14 states across the country. Depending on where you reside, we may not be able to ship beer to you. In the event that the financing is a down round the holders of the convertible notes will dilute existing equity holders, and even more than the new investors do, because they get more shares for their money. The Shares have no voting rights. Wait, famous Navy SEAL Team 6 Operator @mchooyah has a beer company that pays tribute to the Military and employs Veterans? Our revenue may fluctuate from period-to-period in the future due to a variety of factors, many of which are beyond our control. At times, the Company may maintain balances in excess of the federally insured limits. The tables do not reflect the anticipated dilution that will occur if the Company authorizes additional shares under the Companys Equity Incentive Plan. Access for 1 to VIP tent/section at one event the Company sponsors, 8 stickers two each from Armed Forces Brewing Company, the Seawolf brand, the Airman brand and the Soldier brand, Investors name on the Companys wall of investors at the $1,000+ level, Two Armed Forces Brewing Company beer glasses, Access for 2 to VIP tent/section at one event the Company sponsors, Membership in Companys tasting club where investor has the opportunity taste certain new beers before it goes to market**, 12 stickers three each from Armed Forces Brewing Company, the Seawolf brand, the Airman brand and the Soldier brand. ARMED FORCES BREWING COMPANY PINT GLASS. Different rules apply to accredited investors and non-natural persons. The term Offering refers to the offer of Shares pursuant to this Offering Circular. None of the Companys directors are independent as defined in Rule 4200 of FINRAs listing standards. Investors may not withdraw their funds tendered from the escrow account or holding account unless the Offering is terminated without a closing having occurred. If you invest and purchase the Shares of Class C Common Stock, you will be acquiring a minority interest in the Company and will have little to no effective control over, or input into, the management or decisions of the Company, primarily because the Shares have no voting rights. This button displays the currently selected search type. Government and Other Campaigns and Laws Could Reduce Demand. If the total capital raised is $7,500,000: Increase in Net Tangible Book Value per Share Attributable to Shares Offered Hereby (based on 750,000 Shares). The factors considered by management in performing this assessment include current operating results, trends and prospects, the manner in which the property is used, and the effects of obsolescence, demand, competition, and other economic factors. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Companys tax returns and positions (including positions regarding jurisdictional authority of foreign governments to impose tax) are subject to review and audit by federal, state, local and international taxing authorities. The material change in operating expenses was primarily due to the Company being unable to contract brew its beer for several months. But there are some standouts in the space worth your attention, especially for investors seeking to generate some dividend income along the way. The Service has not yet promulgated regulations defining appropriate methods for the determination of fair market value for this purpose. Bob is in rare company to be one of a handful of brewers to win the Maryland Governors Cup for Excellence in Craft Beer Brewing. If you are making an investment expecting to own a certain percentage of the Company or expecting each Share to hold a certain amount of value, it is important to realize how the value of those Shares can decrease by actions taken by the Company. Their goal is to produce the best tasting beer possible while also supporting the military community. There can be no assurance, however, that any value so established (i) could or will actually be realized by the IRA, ERISA Plan or Keogh Plan upon sale of the Shares or upon liquidation of us, or (ii) will comply with the ERISA or Code requirements. All potential purchasers of the Shares will be required to comply with know-your-customer and anti-money laundering procedures to comply with various laws and regulations, including the USA Patriot Act. AN INVESTMENT IN THIS OFFERING IS HIGHLY SPECULATIVE, AND YOU SHOULD ONLY INVEST IF YOU ARE PREPARED TO LOSE YOUR ENTIRE INVESTMENT. Despite this, should the Company provide such indemnification, it could have a material adverse effect on the Company. An Armed Forces Brewing Company Challenge Coin, Your name on our online wall of investors (and later in our physical locations) at the $200+ level, One invitation to our annual shareholder event*, Access to the investors-only section of our website, Four stickers one each from Armed Forces Brewing Company, the Seawolf brand, the Airman brand and the Soldier brand, Your name on our online wall of investors (and later in our physical locations) at the $500+ level, Two invitations to our annual shareholder event*, Access for one to VIP tent/section at one event we sponsor*, Eight stickers two each from Armed Forces Brewing Company, the Seawolf brand, the Airman brand and the Soldier brand, Your name on our online wall of investors (and later in our physical locations) at the $1,000+ level, Two Armed Forces Brewing Company beer glasses, Access for two to the VIP tent/section at one event we sponsor, Membership in our tasting club where you have the opportunity to taste certain new beers before they go to market**, Twelve stickers three each from Armed Forces Brewing Company, the Seawolf brand, the Airman brand and the Soldier brand. We do not have an obligation under ERISA or the Code with respect to such reports or valuation although management will use good faith efforts to assist fiduciaries with their valuation reports. The Company intends to engage Integral Transfer Agency USA Inc. to serve as the transfer agent and registrant for the Shares. Drag-Along Sale means any transaction or series of related transactions pursuant to which an Independent Purchaser will acquire, whether by merger, liquidation, consolidation, reorganization, combination, recapitalization, or a sale, exchange, or other transfer, (A) all or substantially all of the assets of the Company determined on a consolidated basis, or (B) a majority of the Class A Common Stock (or any securities issued in respect of, or in exchange or substitution for, any of those shares in connection with any stock split, dividend, or combination, or any reclassification, recapitalization, merger, consolidation, exchange, or similar reorganization). Since the Company is offering the Shares on a best efforts basis, there is no assurance that the Company will sell enough Shares to meet its capital needs. "Use of the Armed Forces Brewing Company name does not constitute DOD endorsement" . Persons who desire information will be directed to either www. Our beers pay tribute to the men and women of the greatest military in the world, and I am thrilled that anyone and everyone can own part of this patriotic company at this early stage alongside me.. The Company does not expect to declare dividends for holders of Shares in the foreseeable future. The parent holding company for Coors, Miller, Blue Moon, and dozens of other beer labels has struggled with stagnant sales for the past three years as North American consumers have increasingly favored craft beer and other alcoholic beverages. After the Offering Circular has been qualified by the Securities and Exchange Commission (the SEC), the Company will accept tenders of funds to purchase the Shares. During the period from January 1, 2018 to December 31, 2019 the Company received funding consisting of $135,916 which was used to cover the operating expenses. any discussion of the timing or nature of future operating or financial performance or other events. These growth and business strategies include but are not limited to enhancing the Companys operating infrastructure and otherwise responding to competitive pressures. Now, anyone can invest in companies at an early stage before the company is either acquired or holds an IPO, said Almerico. Instead, lets talk about the beer and the breweries involved, which is probably a good idea since the whole goal of the clip is to get you to invest in the venture. The Company does not believe that the cost of fulfilling the shareholder benefits/perks listed above will materially impact the Use of Proceeds from this Offering. The Company had $12,843 in revenue from January 1, 2020 to December 31, 2020. So far, 4,800 people . To the extent that the Company needs to avail itself of a third-party brewing services arrangement, it exposes itself to higher than planned costs of operating under such contract arrangements than would apply at a Company-owned brewery, potential lower service levels and reliability than internal production, and potential unexpected declines in the brewing capacity available to it, any of which could have a material adverse effect on the Companys business and financial results. Operating Results may be Materially different from its Forecasted Results or financial performance or events... Contrary is a rarity among the massive global beer conglomerates that provides technology support to engaging! 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