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Purple Beverage Company, Inc.
Symbol:  PPBV


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Business Summary: Develops, markets and distributes a line of beverage brands and products. The company's first product, Purple, is a functional beverage that contains a high level of anti-oxidants from seven different fruit sources that are combined to make this product.
 
Address
  450 East Las Olas Blvd., Suite 830
  Fort Lauderdale , FL 33301
  Phone: 954-462-8757
  Website: http://www.drinkpurple.com
Auditor
  Sherb & Co. LLP
  Boca Raton , Florida
Transfer Agent
  Interwest Transfer Co. Inc.
Employees:  45
ShareHolders:  3500
Founded:  2002
Domicile:  Nevada
 
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Purple Beverage Company, Inc.
Symbol:  PPBV


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Purple Beverage Company, Inc. develops, markets and distributes a line of beverage brands and products. The company introduced its Purple beverage product to market in August 2007, primarily focusing on Manhattan in New York City. Purple has since expanded its geographical territories to include other concentrated metropolitan areas, including Maui, Hawaii, Los Angeles, California and Miami, Florida. The company's business strategy is to develop and market a unique line of beverage brands and products that will be positioned as a better-for-you beverage targeted to the category of New Age/Functional beverage consumers. The company's first product, Purple, is a functional beverage that contains a high level of anti-oxidants from seven different fruit sources that are combined to make this product. The seven anti-oxidant-rich fruits combined in Purple's formula are the natural juices of acai, black cherry, pomegranate, black currant, purple plum, cranberry, and blueberry. The company's Purple product is available in health food stores, restaurants, delis, drug stores, supermarkets and convenience stores in select locations. The product is also being served to customers at bars and restaurants. The company's sales and marketing strategy is to focus efforts on developing brand awareness and trial through sampling both in stores and at events. Purple intends to employ a push-pull promotional and advertising strategy to build brand awareness, generate trial/sampling purchases and gain distribution of Purple. The company's three stage go-to-market approach will first educate the consumer about the product through a combination of advertising and public relations initiatives, then make the product readily available with direct and three-tier distribution, and finally implement programs to motivate consumers to buy Purple. The company relies on third-party manufacturers to produce its products, using its proprietary formula and flavor ingredients. Purple obtains the raw materials for the manufacture of its products from several sources and arranges for the direct delivery of these raw materials to the third-party manufacturer, except for acai, which the company obtains from a single source. Purple normally pre-pays for the manufacture and packaging materials. It owns the finished inventory that is shipped to warehouses upon completion.
History:  INCORPORATED in Nevada Apr. 8, 2002, as Red Carpet Entertainment, Inc. On Dec. 12, 2007, the company acquired Venture Beverage Company, Inc. through the merger of a wholly owned subsidiary of the company into Venture. In connection with the merger, the company issued 37,581,135 Common shares to the holders of Venture's Common stock. Venture was then merged into the company, which adopted the name Purple Beverage Company, Inc. Venture was incorporated in Nevada May 8, 2007.
 
 
 
 
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Purple Beverage Company, Inc.
Symbol:  PPBV


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Management
OfficersPosition
 Theodore  FarnsworthChief Executive Officer
 Michael W. WallaceExec VP & Chief Financial Officer
 Kasia  MoshierInvestor Relations Contact

Directors
 Theodore  Farnsworth
 
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Purple Beverage Company, Inc.
Symbol:  PPBV


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Capitalization as of 12/31/2007:
 
 Authorized SharesOutstanding Shares
Common $0.001 par412,500,00054,985,765
 
LONG TERM DEBT: None.
 
Common $0.001 par
 
Stockholders:  04/11/2008, 3500.
PRINCIPAL STOCKHOLDERS: March 5, 2008, Theodore Farnsworth owned or controlled 37.7% of the Common.
 
Transfer Agent:  Interwest Transfer Co. Inc.   Salt Lake City , UT
 
OTC Bulletin Board( Primary): PPBV
 
ExchangeYearHighLow
OTC Bulletin Board20071.75000.0500
 
DIVIDENDS: Common $0.001 par: No cash. Common split 8.25-for-1, Nov. 26, 2007.
 
 
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Purple Beverage Company, Inc.
Symbol:  PPBV


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Annual Report
 
Income Statement
  20062005
Cost & exps.45--
Oper. income as calculated(45)--
Interest income1--
Total income(44)--
Income tax1--
Inc. fr. contng. opers.(45)--
Discontd. opers.(193)(30)
Net income(238)(30)
Share earns. Fr. contng. opers. - basic($0.01)Nil
Share earns. Discontd. opers. - basic($0.05)($0.01)
Share earns. Net income - basic($0.06)($0.01)
Share earns. Fr. contng. opers. - diluted($0.01)Nil
Share earns. Discontd. opers. - diluted($0.05)($0.01)
Share earns. Net income - diluted($0.06)($0.01)
Avge. com. shs. (Thou.)3,8433,493
 
Balance Sheet
  20062005
Assets:
Cash & equiv.125211
Tot. curr assets125211
Investments--128
Film costs6--
Total assets131339
Liabilities:
Accts. pay. & accruals6738
Income tax34
Tot. curr. liabs.7042
Com. stk. p.$0.00144
Paid-in cap.365363
Retained earns.(308)(70)
Total liabs.131339
Equity per Share$0.02$0.08
Common Shares (Thou.)3,8433,843
 
 * Purple Beverage Company, Inc. (the Company), formerly Red Carpet Entertainment, Inc. (Red), was incorporated in April 2002 under the laws of the State of Nevada. On December 12, 2007, the Company, Venture Beverage Company, Inc., a Nevada corporation (Venture), and a newly-created, wholly-owned subsidiary of ours, Purple Acquisition Corp., a Nevada corporation (the Acquisition Subsidiary), entered into an agreement and plan of merger (the Merger Agreement). The transactions contemplated by the Merger Agreement (the ?Merger?) closed on December 12, 2007. Pursuant to the Merger Agreement, Venture merged with and into the Acquisition Subsidiary, with Venture surviving. Immediately thereafter, Venture merged with and into the Company, with the Company surviving. In connection with the latter merger, the Company changed its name to Purple Beverage Company, Inc. As a result of the Merger, the former stockholders of Venture now hold approximately 68% of our outstanding common shares. Further, as a result of the Merger, Venture was deemed to be the acquirer for accounting purposes. Income Statement of Venture Beverage Company, Inc., from May 8 '07 (date of inception) to Sept. 30 '07:
 
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Purple Beverage Company, Inc.
Symbol:  PPBV


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Interim Report    10/01/2007  -  12/31/2007
 
Income Statement
  2007
Net sales259
Cost & exps.1,873
Oper. income as calculated(1,614)
Depr. & amort.1
Interest exp.229
Net income(1,844)
Share earns. basic($0.04)
Share earns. diluted($0.04)
Avge. com. shs. (Thou.)49,131
 
Balance Sheet
  2007
Assets:
Cash & equiv.1,175
Accts. rec., net247
Inventories580
Other curr. assets390
Tot. curr assets2,392
Net property22
Total assets2,414
Liabilities:
Notes pay.750
Accts. pay.131
Accruals90
Tot. curr. liabs.971
Com. stk. p.$0.00155
Paid-in cap.4,245
Retained earns.(2,857)
Total liabs.2,414
Equity per Share$0.03
Common Shares (Thou.)54,986
 
 * Purple Beverage Company, Inc. (the Company), formerly Red Carpet Entertainment, Inc. (Red), was incorporated in April 2002 under the laws of the State of Nevada. On December 12, 2007, the Company, Venture Beverage Company, Inc., a Nevada corporation (Venture), and a newly-created, wholly-owned subsidiary of ours, Purple Acquisition Corp., a Nevada corporation (the Acquisition Subsidiary), entered into an agreement and plan of merger (the Merger Agreement). The transactions contemplated by the Merger Agreement (the Merger) closed on December 12, 2007. Pursuant to the Merger Agreement, Venture merged with and into the Acquisition Subsidiary, with Venture surviving. Immediately thereafter, Venture merged with and into the Company, with the Company surviving. In connection with the latter merger, the Company changed its name to Purple Beverage Company, Inc. As a result of the Merger, the former stockholders of Venture now hold approximately 68% of our outstanding common shares. Further, as a result of the Merger, Venture was deemed to be the acquirer for accounting purposes. Accordingly, the results of operations represent the operations of Venture through December 12, 2007. The results of operations subsequent to that date reflect the operations of the Company.
 
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Purple Beverage Company, Inc.
Symbol:  PPBV


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Pro Forma Report    01/01/2007  -  09/30/2007
 
Income Statement
  2007
Net sales111
Cost & exps.1,005
Oper. income as calculated(894)
Interest income3
Total income(891)
Interest exp.197
Income tax1
Net income(1,089)
Share earns. basic($0.02)
Share earns. diluted($0.02)
Avge. com. shs. (Thou.)54,886
 
Balance Sheet
  2007
Assets:
Cash & equiv.2,760
Accts. rec., net79
Inventories146
Other curr. assets24
Tot. curr assets3,009
Net property10
Film costs6
Total assets3,025
Liabilities:
Notes pay.595
Accts. pay. & accruals148
Tot. curr. liabs.743
Com. stk. p.$0.00155
Paid-in cap.3,240
Retained earns.(1,013)
Total liabs.3,025
Equity per Share$0.04
Common Shares (Thou.)54,886
 
 * Pro forma results give effect to the December 12, 2007 merger between Red Carpet Entertainment, Inc. and Venture Beverage Company, Inc., assuming the transaction had occurred as of September 30, 2007.
 
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Purple Beverage Company, Inc.
Symbol:  PPBV


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Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2008   1260,000
  2008   2220,000
  2008   3370,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2008   1(1,840,000)
  2008   2(12,060,000)
  2008   3(9,510,000)
  2007   Full Year (1,090,000)
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2008   1(.04)
  2008   2(.22)
  2008   3(.16)
  2007   Full Year .00
 
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