Based on these assessments and estimates, we establish reserves, as appropriate. Furthermore, TA Associates may have interests that conflict with, or are different than, those of other stockholders. For example, we must seek to identify our personnel needs in light of expected demand for our products, and we will need to identify, recruit, train and retain qualified employees in order to serve this anticipated demand, in all areas of our operations. All of our secondary flavors, White Cheddar Flavor, Naturally Sweet, Black Pepper and a rotational Hatch Chile flavored SKU, were first introduced in late or and represent a relatively small portion of our sales. Table of Contents more consistent basis, we also use them for business planning purposes, to incentivize and compensate our management personnel, and in evaluating acquisition opportunities. Table of Contents political and regulatory developments in the countries in which we do business in the future or in which we expand our business, particularly those countries that have historically experienced a high degree of political or economic instability. Additionally, due to the new valuations for the assets and liabilities of SkinnyPop, our Predecessor financial results may not be representative of our future performance.
We currently conduct most of our business in the United States and Canada, but we are evaluating the possibility of doing business in certain other foreign countries. SkinnyPop also has the opportunity to grow by increasing its product range in stores where the brand already has some existing presence. Accordingly, we have provided a reconciliation of Adjusted EBITDA to our cash from operating activities, the most directly comparable liquidity measure calculated and presented in accordance with GAAP. We view operating cash flow less capital expenditures as an important measure because it reflects changes in, or cash requirements for, our working capital needs, and is one factor in evaluating the amount of cash available for discretionary investments. While we have been profitable in the past, we cannot assure you that our profits will continue, at a similar level or at all.
The Credit Agreement contains other negative incurrence-based covenants that, among other things, limit our ability to:.
The following tables present a reconciliation of operating cash flow less capital expenditures to cash from operating activities, the most directly comparable GAAP measure, for each of the periods indicated:. This prospectus contains references to our trademarks and service marks and to those belonging to other entities.
To date, our focus has been on developing brands in the rapidly growing BFY sub-segment of salty snacks.
In addition, despite operating in different channels, our retailers sometimes compete for the same consumers. Moreover, an unresolved disagreement with a retail customer concerning promotional allowances, advertising charges, charge-backs or returns could significantly disrupt or cause the termination of a customer relationship, immediately reducing our sales and liquidity.
Payments under the tax receivable agreement will be based on the tax reporting positions that we determine, which tax reporting positions will be based on the advice of our tax advisors. Examples of risks inherent in doing business outside of Obreto America include changes in the political and economic conditions in the countries in which we operate, unexpected changes in regulatory requirements, changes in tariffs, stuxy adoption of foreign or U.
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Stidy regarding the safety of any of our products, regardless of the cause, may have a substantial and adverse effect on our brand, reputation and operating results.
Accordingly, we lberto provided a reconciliation of Adjusted EBITDA to our cash from operating activities, obdrto most directly comparable liquidity measure calculated and presented in accordance with GAAP.
These generic or store-branded products may be a less expensive option for consumers than our products making it more difficult to sell our product. We will remain an emerging growth company until the earliest to occur of: Goodwill represents the excess of the purchase price over the fair value of the assets acquired and the liabilities assumed. This financial data was not audited for any period and was not subject to adjustments or procedures, closing or otherwise.
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Yet Gosse’s really unpardonable mistake was attributed to himself alone, and “Plymouth Brethrenism,” which was the sect to which he belonged, was not saddled with it, nor have the Brethren been called obscurantists because of it. Our acquisition strategy is based on identifying and acquiring brands with products that complement our existing products and identifying and acquiring brands in new categories and in new geographies for purposes of expanding our platform of healthier snacks.
We maintain product liability insurance in an amount that we believe to be adequate. We believe consumers are increasingly purchasing RTE popcorn because of their historical familiarity with traditional popcorn and because of consumer trends towards BFY snacks. Retailers in the grocery industry charge slotting fees for access to shelf space and often enter into promotional and advertising arrangements with manufacturers that result in the sharing of promotional and advertising costs among the retail customer, distributor or manufacturer.
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We may not be able to adequately protect our intellectual property and other proprietary rights that are material to our business. A substantial majority of our sales are generated from a limited number of distributors and retailers, which we refer to as customers. As a result of these ownership positions, these stockholders could take actions that have the effect of delaying or preventing a change in control of us or discouraging others from making tender offers for our shares, which could prevent stockholders from receiving a premium for their shares.
Our credit agreement, or the Credit Agreement, with a syndicate of lenders led by Jefferies Finance LLC, is secured by substantially all of our assets. Port wine was prescribed by his medical advisers: Deferred income taxes 1. From time to time, retailers change distribution centers that supply some of their retail stores. There can be no assurance that we will be successful in all of these efforts, and any failure to maintain sufficient infrastructure and personnel will have an adverse effect on our ability to grow and improve our profitability.
Underwriting Discounts and Commissions. Other trademarks and trade names referred to in this prospectus are the property of their respective owners.
Other professional services 4. While BFY snack food products are currently popular and sales of such products have been increasing rapidly, consumers may not continue to be interested in BFY snack food products.
Unless otherwise specified xtudy the context requires otherwise:. Investing in our common stock involves a high degree of risk. In addition, our credit agreement contains financial maintenance covenants, including a total funded debt ratio and a minimum fixed charge ratio, that use Adjusted EBITDA as one of their inputs.