Reborn Coffee Closes $1 Million Private Placement Equity Investment from Chairman Farooq Arjomand
Summary
Reborn is an innovative company that strives for constant improvement in the coffee experience through exploration of new technology and premier service, guided by traditional brewing techniques. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and Managements Discussion and Analysis of Financial Condition and Results of Operations sections of our recent filings with the Securities and Exchange Commission (SEC) including our Form 10-Q for the first quarter of 2023, which can be found on the SECs website at www.sec.gov. Such risks, uncertainties, and other factors include, but are not limited to, the Companys ability to continue as a going concern as indicated in an explanatory paragraph in the Companys independent registered public accounting firms audit report as a result of recurring net losses, among other things, the Companys ability to successfully open the additional locations described herein as planned or at all, the Companys ability to expand its business both within and outside of California (including as it relates to increasing sales and growing Average Unit Volumes at our existing stores), the degree of customer loyalty to our stores and products, the impact of COVID-19 on consumer traffic and costs, the fluctuation of economic conditions, competition and inflation. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.