SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8 - K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of Earliest event reported): May 14, 2004
BRAVO! FOODS INTERNATIONAL CORP.
(Exact name of registrant as specified in its amended charter)
Delaware 0-20549 62-1681831
------------------------------- ------------ -------------------
(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
11300 US Highway 1, Suite 202
North Palm Beach, Florida 33408 USA
(Address of principal executive offices)
(561) 625-1411
Registrant's telephone number
China Premium Food Corporation
----------------------------------------------------------------------------
(Former name or former address if changed since last report)
Item 5 and Item 9
Public Conference Call
----------------------
On May 14, 2004, the Company conducted a public conference call to
announce and discuss the results contained in its Form 10-QSB filed on that
date for the period ended March 31, 2004,. The following matters were
discussed at that conference call:
The Company reported total revenue of $438,206, with a gross margin of
$108,085, for the period ended March 31, 2004, compared to total revenue of
$397,430, with a gross margin of $317,068, for the same period in 2003. The
Company reported these numbers within the context of its new revenue
recognition model, effective January 1, 2004, by which it recognizes as
revenue the total wholesale price of its finished product sold to retail
outlets and the total cost of production by the Company's third party
processors as cost of goods sold. Management explained that the new
recognition model is based upon the implementation of a new co-pack
arrangement with its processors, which will enable it to track sales of
finished product against revenue in a more meaningful way, allowing for
greater predictably in forecast analysis and strategic planning.
The Company reported on the status of the launch of its new lines of
flavored milk products. The Company reported that it has commitments from
convenience store operators representing 5,701 stores, chain store
supermarkets representing 5,271 stores, and distributors representing 6,000
stores. The Company's products are now carried up by 13 distributors that
service 7-Eleven stores, which opens the opportunity for additional market
penetration through these distributors in other stores that they service.
Management offered guidance for revenues in the second quarter of 2004
in the range of $1.5 to $1.7 million under its new revenue recognition
model, based upon the continuation of the launch of the Company's new
products resulting in increased sales.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Bravo! Foods International Corp.
Date: May 17, 2004 By: /s/ Roy G. Warren
-------------------------------
Roy G. Warren,
Chief Executive Officer