SOURCE: DC Brands International, Inc.

May 14, 2008 07:05 ET

DC Brands Answers Questions About Audit

DENVER, CO--(Marketwire - May 14, 2008) - Today DC Brands International, Inc. (PINKSHEETS: DCBR) wanted to go on record by answering the single most asked question by the many shareholders who call in on a regular basis, that being, "What is going on with the audit?" The company's CEO Richard Pearce said, "It is way past the point of embarrassing now. It has been over a year that we have been working on this. Admittedly, we were unable to pay the proper amount of attention required prior to hiring our new CFO in February. But even since then, it seems no matter how many items we check off the list for our auditors, they hand us a new list. I sincerely thought we would have it done last July based on the information and assurances I was given. It certainly appears I was a bit naïve in that belief. Prior to the hire of our new CFO, at the instruction of our auditors at Turner Stone, we hired a Mr. David Ziegler to perform several months' worth of prep work and paid him in excess of $45,000. To date, there are zero funds due to Mr. Ziegler and he has refused to turnover our work. He has been saying for weeks on end that he has the documents in storage and has not had the chance to retrieve them. This will now become a legal matter and we will vigorously pursue this and seek what we are owned."

Pearce continues, "The entire financial cost alone is now more than five times what we were quoted and we keep writing checks, working hard at it, providing answers and hearing back that it looks like a couple more weeks and we can start the field audit. We understand that the issue became more complicated when we added the HARD Nutrition piece into the equation and I will tell you the folks at Turner Stone are fine people and simply crossing every 'T' and dotting every 'I,' which is the nature of an audit. Nonetheless, it is frustrating beyond belief and I want our shareholders to know that we are working very hard on this issue. Aside from the HARD Nutrition addition and Mr. Ziegler's complete lack of cooperation and professionalism, one huge delay was when we were told several months ago by our auditors that we had to hire yet another outside firm to provide an option on stock valuation at various times of issue. We did in fact engage the firm of Clifton Gunderson to perform those duties and they have now completed their work. Throughout this process, we have repeatedly provided all the answers to the questions we are asked, only to get another fresh list of questions. Nothing out of the ordinary, just sometimes answers you provide spark a new question in the world of accounting. It is very tedious and time consuming to say the least."

Pearce further states, "I am writing this today because far too many of our shareholders have been calling or emailing for updates on the audit. I simply want to address the issue to let our shareholders know we have in no way backed off this issue. As for an exact date it will be completed, I am done with making predictions that I cannot control. I will tell you this, we hired the right guy in Martin Bykowsky and he is working full-time every day on this issue. We started down this road to be able to file our 15-c-2-11 and start the process so we can move up and off the Pink Sheets. We definitely want to get this complete after what happened to us just over a year ago when our trading was halted for absolutely no reason whatsoever. No one is affected more by the artificially depressed stock price than I am personally. No one stands more to gain by getting it done and no one wants this completed faster than I do and the rest of our team does.

"However, I fully understand that at some point the excuses and/or explanations get real old and that time for me is now. I ask that our shareholders understand that with our move completed and with production of the new HARD products underway this month, I will be riding this issue on a daily basis. But there are outside groups we rely on that have repeatedly let us down and missed committed deadlines and budgets. This will get done as quickly as humanly possible and it will open up a new world for our company and allow us to start truly creating shareholder value. But right now, I can only commit that as of today; we will redouble our efforts and greatly look forward to being able to announce the big news as soon as possible."

About DC Brands International:

DC Brands International, a publicly traded company under the ticker symbol (PINKSHEETS: DCBR), specializes in and manufactures unique energy drink brands and health products. Established in 1998, DC Brands went public in 2005, and the company's first product, Dickens Energy Cider, launched in 2002 after a lengthy process in developing its distinctive flavor and packaging. Following the success of Dickens Energy Cider, the company chose to expand its product line with introduction of Turn Left Energy Drink that filled the substantial NASCAR niche. In 2007, DC Brands purchased the assets of HARD Nutrition and began its quest to produce a new health line of products. DC Brands is now poised to release their new HARD Nutrition Functional Water Systems in the spring of 2008.

For more information on DC Brands International, visit their website at, and

Note: Except for the historical information contained herein, this news release contains forward-looking statements that involve substantial risks and uncertainties. Among the factors that could cause actual results or timelines to differ materially are risks associated with research and clinical development, regulatory approvals, supply capabilities and reliance on third-party manufacturers, product commercialization, competition, litigation, and the other risk factors listed from time to time in reports filed by DC Brands International with the Securities and Exchange Commission, including but not limited to risks described under the caption "Important Factors That May Affect Our Business, Our Results of Operation and Our Stock Price." The forward-looking statements contained in this news release represent judgments of the management of DC Brands International as of the date of this release. DC Brands International and its managers and agents undertake no obligation to publicly update any forward-looking statements.

Contact Information