Jamba, Inc. Files Form 12b-25 to Extend Filing Date for 2014 Form 10-K
March 16 2015 - 4:12PM
Business Wire
Financial information in Form 10-K expected to
be consistent with previously reported financial results in March
12, 2015 earnings release
Jamba, Inc. (NASDAQ:JMBA) today announced that the Company filed
a Form 12b-25 with the Securities and Exchange Commission providing
for a 15 calendar day extension for its Annual Report on Form 10-K
for the fiscal year ended December 31, 2014. The Company
anticipates to file its Form 10-K prior to the expiration of the
extension and expects that the financial information contained in
the Form 10-K will be consistent with previously reported financial
results reported in the Company’s earnings release on March 12,
2015.
The Company filed the Form 12b-25 because it has not yet
completed the assessment of the Company’s internal control over
financial reporting and, as a result, its independent registered
public accounting firm has not completed their audit and assessment
of the Company’s internal control over financial reporting. The
Company plans to report in its Form 10-K that as of December 30,
2014, a material weakness existed in its control over financial
reporting due to an insufficient complement of finance and
accounting resources within the organization, in part attributable
to employee turnover related to recently implemented cost
reductions and infrastructure changes, to ensure the proper
application of GAAP with respect to the Company’s non-routine
transactions. The Company is determining steps necessary to
remediate the material weakness, but expects that the financial
information contained in the Form 10-K will be consistent with the
previously reported financial results reported in the Company’s
earnings release on March 12, 2015.
About Jamba
Founded in 1990, Jamba, Inc. is a leading restaurant retailer of
better-for-you, specialty beverage and food offerings, which
include great tasting, whole fruit smoothies, fresh squeezed juices
and juice blends, hot teas, and a variety of food items including
hot oatmeal, breakfast wraps, sandwiches, Artisan Flatbreads™,
baked goods, and snacks. As of December 31, 2014, there were 862
Jamba Juice store locations globally. Jamba is a proud sponsor of
“Team Up for a Healthy America” in the fight against childhood
obesity and encourages fans to join the Team Up community of
celebrities, athletes, and other leaders committed to getting kids
active and involved at www.myhealthpledge.com. Fans of Jamba Juice
can find out more about Jamba Juice's locations as well as specific
offerings and promotions by visiting the Jamba Juice website at
www.JambaJuice.com or by contacting Jamba's Guest Services team at
1-866-4R-FRUIT (473-7848).
Forward-Looking Statements
This press release contains “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are those involving future events
and future results that are based on current expectations,
estimates, forecasts, and projections as well as the current
beliefs and assumptions of the Company’s management. Words such as
“outlook,” “believes,” “expects,” “appears,” “may,” “will,”
“should,” “anticipates,” or the negative thereof or comparable
terminology, are intended to identify such forward looking
statements. Any statement that is not a historical fact, including
the statements made with respect to the filing of the Form 10-K
within the extension period provided and the expectation that the
financial information in the Form 10-K will be consistent with
previously reported financial results in March 12, 2015 earnings
release, is a forward-looking statement. Forward-looking statements
are only predictions and are subject to risks, uncertainties and
assumptions that are difficult to predict. Therefore actual results
may differ materially and adversely from those expressed in any
forward-looking statements. You should not place undue reliance on
forward-looking statements. The Company does not assume any
obligation to update the information contained in this press
release.
ICRDara Dierks, 203-682-8200investors@jambajuice.com
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