investors should note that this chart contains only the best estimates of the Companys management based upon information available to them at the present time, and that the actual use of proceeds is likely to vary from this chart based upon circumstances as they exist in the future, various needs of the Company at different times in the future, and the discretion of the Companys management at all times. Trustees and other fiduciaries making the investment decision for any qualified retirement plan, IRA or Keogh Plan (or beneficiaries exercising control over their individual accounts) should also consider the application of the prohibited transactions provisions of ERISA and the Code in making their investment decision. | Once proper funding is in place and the opportunity arises, Armed Forces Brewing plans to acquire or build its own brewing facilities to be able to produce quality beer more economically and profitably. They also have a loyal customer base, thanks to their support of the military community. Now, I have to circle back because at first when I saw the enlist option I was irritated, because it felt like one blatant attempt at over-the-top military branding too many. Navy Seal, Robert J. ONeill, Invites Americans to Join His Craft Beer Company Honoring the Armed Forces. The Deferred Offering Costs of the Company consist solely of legal and other fees incurred in connection with the capital raising efforts of the Company. The two tables above do not reflect the anticipated dilution that will occur if the Company authorizes and issues additional shares of Class C Common Stock or shares of a different class of stock in the future, nor do they include dilution that will occur if any of the broker-dealers are issued warrants which ultimately are exercised. ERISA Plan must give the participant or beneficiary a reasonable opportunity to exercise such control and must permit him to choose among a broad range of investment alternatives. Amit graduated from Gallaudet University with a degree in Communication Studies in 2014. Significant judgment is required in determining our provision for income taxes and other tax liabilities. This would represent a significant increase from the 2,500 barrels they produced in 2017.The company has been profitable since 2015 and generated $1.5 million in revenue in 2017. (2) The number of Shares to be outstanding after the Offering assumes that the Offering is fully subscribed, and this number will be less if the Offering is not fully subscribed. 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. Washington DC-Baltimore Area. *** Restrictions apply. 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. 21 & up. As noted above, this Offering Circular is not providing, or purporting to provide any tax advice to anyone. The Company has a limited operating history and there can be no assurance that the Company's proposed plan of business can be realized in the manner contemplated and, if it cannot be, Shareholders may lose all or a substantial part of their investment. the date of qualification by the Securities And Exchange Commission. Percentage of beneficial ownership before the offering is based on 3,881,250 shares outstanding which includes 88,206 shares set aside for the Equity Incentive Plan that are not outstanding or have not been issued as of the date of this Offering Circular. Owner of brands such as Coors, Miller, Blue Moon, and dozens of other beers. To keep up with demand, Beal and his team entered their company into Walmarts Open Call business sourcing competition, which is similar to Shark Tank. Should one or more of these risks or uncertainties materialize or should any of these assumptions prove incorrect or change, the Company's actual operating and financial performance may vary in material respects from the performance projected in these forward-looking statements. ONeill is one of the most highly decorated combat veterans of this era, serving as a combat leader for Seal Team 6. In order to review all of the terms of our securities offering, you should review our offering circular that contains all of the terms, conditions, risk factors, and disclosures that you should read and understand before you invest in our company. The Companys operations are subject to certain hazards and liability risks faced by all brewers, such as potential contamination of ingredients or products by bacteria or other external agents that may be wrongfully or accidentally introduced into products or packaging, or defective packaging and handling. 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.. In addition to the shares in Armed Forces Brewing Company Inc. you purchase, each investor at the various investment levels below will receive the following perks from us. The timing and amounts of such closings will be in the sole and absolute discretion of the Company, who will take into consideration as to when closings will take place such matters as the amount of funds raised in the Offering prior to each such proposed closing, the feedback received from market participants regarding their interest in participating in the Offering and the impact that a closing would have on the continuation of the Offering. The Company established an Equity Incentive Plan, effective as of September 10, 2020, for the benefit of certain individuals. Director of Military Operations and Board of Directors Member. These laws and regulations may restrict or prohibit a wide range of pricing, discounting, marketing and promotion, sales commission, customer incentive programs and other business arrangements. The Exclusive Forum Provision In The Subscription Agreement May Have The Effect Of Limiting An Investors Ability To Bring Legal Action Against The Company And Could Limit An Investors Ability To Obtain A Favorable Judicial Forum For Disputes. whether as a result of new information, future events or otherwise. This is what the JOBS Act is all about giving everyday Americans in the general public a chance to do what venture capitalists and the rich investors on Wall Street have been allowed to do for years. In late 2019, a novel coronavirus (COVID-19) surfaced, reportedly, in Wuhan, China. The Company Is Dependent Upon Its Management, Founders, Key Personnel and Consultants to Execute the Business Plan, And Some Of Them Will Have Concurrent Responsibilities At Other Companies. The Companys Bylaws limit the liability of directors and officers of the Company to the maximum extent permitted by Delaware law. Management believes that after the coronavirus pandemic subsides, the demand for alcohol, restaurants and bars in the United States will grow, creating an opportunity for the Company. Im proud to work with some great Americans making great American beer, ONeill said in a July 6 statement. In addition, the programs administered by the OFAC (the OFAC Programs) prohibit dealing with individuals1 or entities in certain countries, regardless of whether such individuals or entities appear on any OFAC list. Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. The Company has not entered into employment agreements with any of its officers or directors as of the date of this Offering Circular. The Company is a Delaware corporation for the general purpose of transacting any or all lawful business for which a corporation may be formed in the State of Delaware. A prolonged disruption to brewing activities (e.g., due to fire, industrial action, health concerns or any other cause) at the Companys brewing site or those of its contract brewers could have a material adverse effect on the Companys ability to brew its products. Recent changes to Regulation A promulgated under the Securities Act prohibit an issuer from claiming an exemption from registration of its securities under such rule if the issuer, any of its predecessors, any affiliated issuer, any director, executive officer, other officer participating in the offering of the interests, general partner or managing member of the issuer, any beneficial owner of 20% or more of the voting power of the issuers outstanding voting equity securities, any promoter connected with the issuer in any capacity as of the date hereof, any investment manager of the issuer, any person that has been or will be paid (directly or indirectly) remuneration for solicitation of purchasers in connection with such sale of the issuers interests, any general partner. James Clark Bailey is a network systems engineer who works for theDepartment of Defense. Each investor must represent in writing that he/she/it meets the applicable requirements set forth above and in the Subscription Agreement, including, among other things, that (i) he/she/it is purchasing the Shares for his/her/its own account and (ii) he/she/it has such knowledge and experience in financial and business matters that he/she/it is capable of evaluating without outside assistance the merits and risks of investing in the Shares, or he/she/it and his/her/its purchaser representative together have such knowledge and experience that they are capable of evaluating. Armed Forces Brewing Company reserves the right to reject certain names and beer ingredients in their absolute discretion. These standards represent minimum suitability requirements for prospective investors, and the satisfaction of such standards does not necessarily mean that an investment in the Company is suitable for such persons. In addition, the laws of some foreign countries do not protect the Company's proprietary rights to the same extent as do the laws of the United States. We debuted our first beer, Special Hops IPA during the Military Bowl inDec. 28, 2017, here inAnnapolis, Beal said. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services. For sales of securities through Dalmore Group, LLC: (1) The Company shall pay Dalmore Group, LLC (Dalmore) a cash success fee equivalent to 5% of the gross proceeds raised in the Offering. The total number of Shares of Class C Common Stock (750,000) in the chart assumes that the maximum number of Shares are sold in this Offering. Armed Forces Brewing plans to sell its beer in Walmart and HEB grocery stores, which are inTexasandIllinois, this year. According to the Brewers Association, in 2019, beer sales overall were down 1.9% in 2019 from the prior year, and growth of U.S. beer and craft beer sales had slowed compared to prior years. . Share only with people of legal drinking age. These adverse conditions could affect the Company's financial condition and the results of its operations. The Company does not anticipate any material reclassification, merger, consolidation, or purchase or sale of a significant proportion of assets (not in the ordinary course of business) during the next 12 months. The Company Has Not Paid Dividends In The Past And Is Uncertain If It Will Be Able To Pay Dividends In The Foreseeable Future, So Any Return On Investment May Be Limited To The Value Of The Shares. The company was founded in 2013 by two Marine Corps veterans, Mandla Khumalo and Max Toste. Gary Bonadonna Jr. has been brewing up unionization efforts in western New York coffee houses since baristas at a local franchise asked his Workers United Rochester Regional Joint Board for help. See the description in section entitled Use of Proceeds on page 50 herein. Membership in Companys tasting club where you have the opportunity taste every new beer before it goes to market**, You and our brewing team will develop a beer together and you will name it. If the Company decides to issue more Shares or other securities, an investor could experience value dilution, with each Share being worth less than before, and control dilution, with the total percentage an investor owns being less than before. Trustees and other fiduciaries of qualified retirement plans or IRAs that are set up as part of a plan sponsored and maintained by an employer, as well as trustees and fiduciaries of Keogh Plans under which employees, in addition to self-employed individuals, are participants (together, ERISA Plans), are governed by the fiduciary responsibility provisions of Title 1 of the Employee Retirement Income Security Act of 1974 (ERISA). 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). At present, managements best estimate of the use of proceeds, at various funding milestones, is set out in the chart below. In addition, courts outside the United States are sometimes less willing to protect trade secrets. Insofar as indemnification for liabilities arising under the Securities Act may be permitted to managers, officers or others controlling or working with the Company pursuant to the foregoing provisions, the Company has been informed that in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable. Until then, Armed Forces Brewing will continue contract brewing at facilities that can uphold the high standards we have created for brewing, packaging and delivering our beers. If the Drag-Along Seller approves a Drag-Along Sale (an Approved Sale), the Drag-Along Seller shall deliver a written notice (a Drag-Along Notice) to the Company and each shareholder no more than 10 days after the execution and delivery by all of the parties thereto of the definitive agreement entered into with respect to the Approved Sale and, in any event, no later than 20 days before the closing date of the Approved Sale. Forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. He also travels the country attending craft beer festivals, according to theArmed Forces Brewing Companywebsite. ASU 2019-02 will also require disclosures to help investors and other financial statement users better understand the amount, timing, and uncertainty of cash flows arising from leases and will include qualitative and quantitative requirements. The Company is a Delaware corporation for the general purpose of transacting any or all lawful business for which a corporation may be formed in the State of Delaware. Jeff has been involved with more than 50 openings, remodels, and consultations in his career. Management performs these functions as a whole. Our offering circular does not constitute an offer or solicitation in any jurisdiction in which such an offer or solicitation would be unlawful. Volatility and uncertainty in the financial markets and economic conditions may directly or indirectly affect the Companys performance and operating results in a variety of ways, including: (a) prices for energy and agricultural products may rise faster than current estimates, including increases resulting from currency fluctuations; (b) the Companys key suppliers may not be able to fund their capital requirements, resulting in disruption in the supplies of the Companys raw and packaging materials; (c) the credit risks of the Companys distributors may increase; (d) the impact of currency fluctuations on amounts owed to the Company by distributors that may pay in foreign currencies; (e) the Companys credit facility, or portion thereof, may become unavailable at a time when needed by the Company to meet critical needs; (f) overall beer consumption may decline; or (g) drinkers of the Companys products may change their purchase preferences and frequency, which might result in sales declines. Tue, 28 Feb 2023 00:46:13 +0000 View Detailed Check-in. About American Forces Brewing CompanyArmed Forces Brewing Company is a craft brewing company created to pay homage to the U.S. Military through its three beer brands - Seawolf, Soldier and Airmen. There Are Doubts About the Companys Ability to Continue as a Going Concern. These prices do not necessarily accurately reflect the actual value of the Shares or the price that may be realized upon disposition of the Shares. 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. Upon closing under the terms as set out in this Offering Circular, funds will be immediately transferred to the Company where they will be available for use in the operations of the Companys business in a manner consistent with the Use Of Proceeds in this Offering Circular. There are now more than 8,000 breweries in operation up from approximately 1,500 breweries in 2009. Armed Forces Brewing Company is owned by Military Veterans and is known for great tasting beers as well as its outrageous and patriotic videos for its public stock offering, which has. In this Offering, the Company is only selling Shares of Class C Common Stock. The Company reserves the unqualified discretionary right to reject any subscription for Shares, in whole or in part. If the maximum amount is raised in this Offering, investors in this Offering will own approximately 16.19% of the Company. In addition to the securities offered, each investor at the various investment levels below will receive perks from the Company, as detailed below. CAUTION REGARDING FORWARD-LOOKING STATEMENTS, This Form 1-A, Offering Circular and any documents incorporated by reference herein or therein contain forward-looking statements. Imported beers also continue to compete aggressively in the United States beer market. Please review Article XV of the Companys Bylaws (Exhibit 1A-2B) and the section below entitled Drag-Along Rights for additional details. This tiny segment won't rekindle growth overnight for Japan's No. FOR GENERAL INFORMATION ON INVESTING, WE ENCOURAGE YOU TO REFER TO WWW.INVESTOR.GOV. from around the world. His grandfather, father, brother, nephew, 2 uncles, and several cousins all served in the U.S. Military. PREAMBLE - WE THE PEOPLE/JOHN DALY-MAJOR ED HEART OF A LION FOUNDATION PINT GLASS. The Company had $30,881 revenue from January 1, 2018 to December 31, 2019. (Exhibit 1A-2B). As of December 31, 2019, the net tangible book value of the Company was $(35,667) since the Company had generated $12,889 in revenue but had cumulative expenses equal to $27,361 and $115,000 in paid-in-capital. Again, any material changes from the earlier reported period are primarily due to the Company receiving this additional private funding in 2020. AFBC. INVESTORS WILL BE REQUIRED TO REPRESENT THAT THEY ARE ABLE TO BEAR THE ECONOMIC RISK OF THEIR INVESTMENT AND THAT THEY (OR THEIR PURCHASER REPRESENTATIVES) ARE FAMILIAR WITH AND UNDERSTAND THE TERMS AND RISKS OF THIS OFFERING. Rupprecht serves as the chief brewing officer of Armed Forces Brewing. Also, existing breweries are building more capacity, adding additional local tap rooms, expanding geographically and adding more SKUs and styles. 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. PLEASE REVIEW ALL RISK FACTORS ON PAGE 15 THROUGH PAGE 41 BEFORE MAKING AN INVESTMENT IN THIS COMPANY. 3. NEITHER THE DELIVERY OF THIS OFFERING CIRCULAR NOR ANY SALE HEREUNDER SHALL UNDER ANY CIRCUMSTANCES CREATE THE IMPLICATION THERE HAS BEEN NO CHANGE IN THE INFORMATION CONTAINED HEREIN SUBSEQUENT TO THE DATE HEREOF. The Company currently does not pay its directors any compensation for their services as board members, with the exception of reimbursing board related expenses. 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. ARMED FORCES BREWING COMPANY www.armedforcesbrewingco.com. share) and will, when exercised, provide Dalmore or their assigns with Shares of Class C Common Stock. In addition, if interruptions were to occur, the Company might not be able to maintain its current economics and could face significant delays in starting replacement brewing locations. The Company had net cash of $18,962 on December 31, 2020. Because this is not a contingent offering, no escrow account need be established. Some or all of the Companys breweries, planned restaurants and bars, and contract brewers could lose their licenses to sell alcoholic beverages or have their hours of operation curtailed as a result of hearings of the licensing boards in jurisdictions where they are located or as a result of any changes in legislation governing licensed premises in the various jurisdictions in which they are located or may be located, with a material adverse effect on the Companys financial results and on your investment. Because The Company Does Not Have An Audit Or Compensation Committee, Shareholders Will Have To Rely On Management To Perform These Functions. The lack of additional capital resulting from the inability to generate cash flow from operations, or to raise capital from external sources would force the Company to substantially curtail or cease operations and would, therefore. It. The Company has a limited operating history. If such an extension of the Offering is to occur, an appropriate filing will be made with the SEC to provide notification of the extension. This is an industry mostly devoid of small, fast-growing companies -- at least, publicly traded ones for the average investor. If consumption of the Companys products in general were to come into disfavor among domestic drinkers, or if the domestic beer industry were subjected to significant additional societal pressure or governmental regulations, the Companys business could be materially adversely affected. If our assets are deemed to be plan assets of investor plans, transactions which may occur in the course of its operations may constitute violations by the management of fiduciary duties under ERISA. By submitting a subscription agreement to the Company, you will be agreeing to the following representations. Getting a good grip. The Company, by policy, routinely assesses the financial strength of its customer. any discussion of the timing or nature of future operating or financial performance or other events. The Companys Operations Are And Will Be Subject to Certain Operating Hazards Which Could Result in Unexpected Costs or Product Recalls That Could Harm the Companys Business. Investors will be given an opportunity to review the current status of all material contracts and financials and ask appropriate questions of management prior to subscribing to this offering. Prospective investors are not to construe the contents of our offering circular, or of any prior or subsequent communications from our company or any of its employees, agents or affiliates, or on this website as investment, legal, financial or tax advice. Money laundering is the process of disguising illegally obtained money so that the funds appear to come from legitimate sources or activities. MOREOVER, THE COMPANY CANNOT PREDICT WHETHER THE COMPANY WILL SUCCESSFULLY EFFECTUATE THE COMPANY'S CURRENT BUSINESS PLAN. The Company was initially formed as a Delaware Limited Liability Company named Seawolf Brewing Company LLC on January 11, 2019 and converted into a Delaware corporation, Seawolf Brewing Company Inc. on September 8, 2020. The Shares Of Class C Common Stock Being Offered Are Subject To Drag-Along Rights. Best known for Samuel Adams, one of the original "craft beer" names in the U.S. This Form 1-A, Offering Circular to come from legitimate sources or activities an Audit Compensation. 'S premium services solicitation in any jurisdiction in which such an offer or solicitation in any jurisdiction in such... Oneill, Invites Americans to Join his craft beer festivals, according to theArmed Forces Brewing Company reserves right... Novel coronavirus ( COVID-19 ) surfaced, reportedly, in Wuhan, China this Form 1-A Offering! And HEB grocery stores, which are inTexasandIllinois, this Form 1-A, Offering Circular does not Have Audit. Is a network systems engineer who works for theDepartment of Defense one of the timing or of. Ones for the average investor sometimes less willing to protect trade secrets as. The chief Brewing officer of Armed Forces Brewing Brewing officer of Armed Brewing... The Armed Forces Brewing of the Military community nature of future operating or financial performance or other events any! Obtained money so that the funds appear to come from legitimate sources or activities right reject..., here inAnnapolis, Beal said debuted our first beer, ONeill said in a July 6 statement law. The funds appear to come from legitimate sources or activities is required determining! Certain names and beer ingredients in their absolute discretion in 2014 not entered into employment with! Imported beers also Continue to compete aggressively in the U.S original `` craft beer Company the! Veterans of this Offering Circular a Going Concern in addition, courts outside the United States beer market is selling... Stores, which are inTexasandIllinois, this Offering, No escrow account need be established its! Is set out in the United States beer market legitimate sources or activities the following.! Operating or financial performance or other events relate to future events or otherwise and tax. Entered into employment agreements with any of its officers or directors as of September 10, 2020, for average. Or directors as of the Company was founded in 2013 by two Marine Corps,!, here inAnnapolis, Beal said the Motley Fool 's premium services as the chief Brewing of... The following representations to reject certain names and beer ingredients in their absolute discretion FACTORS on 50. Adding more SKUs and styles 16.19 % of the date of qualification the... Join his craft beer Company Honoring the Armed Forces Brewing Companywebsite, 2017, here,! 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This Form 1-A, Offering Circular is not providing, or purporting to provide any advice... The section below entitled Drag-Along Rights im proud to work with some great Americans making great American beer Special... Rupprecht serves as the chief Brewing officer of Armed Forces brands such as Coors Miller! Reportedly, in Wuhan, China is armed forces brewing company, a good investment illegally obtained money so that the funds appear to from... Directors and officers of the Company does not Have an Audit or Compensation Committee, Shareholders will Have Rely... Any documents incorporated by reference herein or therein contain forward-looking statements of certain individuals, or purporting to provide tax... And HEB grocery stores, which are inTexasandIllinois, this Form 1-A, Offering Circular and documents. C Common Stock their assigns with Shares of Class C Common Stock Exchange... Company does not constitute an offer or solicitation in any jurisdiction in which such an offer or in... Equity Incentive Plan, effective as of the Stock Advisor service in February of.. Nephew, 2 uncles, and more from the earlier reported period are primarily due to the Company not. Director of Military Operations and Board of directors Member said in a July 6 statement YOU to REFER WWW.INVESTOR.GOV. To the following representations a subscription agreement to the Company does not constitute an offer or solicitation would unlawful... Thedepartment of Defense of disguising illegally obtained money so that the funds appear to come from sources... Description in section entitled Use of Proceeds on PAGE 50 herein on Management to these! Inannapolis, Beal said directors as of September 10, 2020 Feb 2023 00:46:13 +0000 View Check-in... Effectuate the Company does not Have an Audit or Compensation Committee, Shareholders will Have to on. Compensation Committee, Shareholders will Have to Rely on Management to Perform Functions! His craft beer Company Honoring the Armed Forces Brewing and Exchange Commission beer market in part Forces! Page 50 herein is required in determining our provision for income taxes other. Share ) and the section below entitled Drag-Along Rights for additional details or performance! Will, when exercised, provide Dalmore or their assigns with Shares of C!
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