While revenues surged almost 60 per cent at yearend January 2015, Jammin Java Corp, which trades as Marley Coffee Inc, has turned to paying employee and consultant salaries partly in common stock as it seeks to retain cash for operational needs.
At the same time, the coffee company has doubled its compensation bill from US$4.47 million within the last year as the business grows.
In its annual report filed with the US Securities Exchange Com-mission, Marley Coffee said it had gained markets in more than 7,200 stores in the United States, distributing five different types of products on average per store. Annual revenue for the coffee marketer increased from US$5.64 million to US$8.9 million, primarily due to expanded distribution into the retail grocery market and growth of other distribution channels, the company said. However, big marketing and other expenses added to the company’s net loss, which expanded from US$6.7 million to US$10.28 million.