Bravo! restructuresThis article was originally published in Foodnews
MILK-based beverage manufacturer Bravo! Brands is restructuring its business through job cuts. The company, which is based in Florida in the US, has terminated 34 out of its 62 employees' contracts, reducing total monthly payroll expense by 50%. A spokesman for Bravo! Brands said that this was due to "disappointing revenue growth and our stock trading price". The company also announced that it closed a funding transaction this week for the issuance and sale of 18.5 million shares of Bravo! Brands' common stock to subscribers for US$740 000, and also issued five year warrants for the purchase of a further 9.25 million shares of common stock at US$0.04 per share.