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Who's Your Daddy, Inc - OTCBB: WYDY
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Company joins forces with preeminent investment banking firm known for identifying and financing emerging growth companies
SAN DIEGO--(MARKET WIRE)--Who's Your Daddy, Inc. (OTCBB: WYDY -
News), a brand management company focused on the marketing, sales, production, and distribution of Who's Your Daddy® "King of EnergyTM" drinks, announced today that it had entered into a one-year investment banking agreement with Roth Capital Partners, LLC, (www.rothcp.com), a leading investment banking firm for micro and small capitalization companies.
Roth's award-winning research is the foundation of the firm and when combined with a seasoned institutional sales team and highly visible investor conferences, creates an unparalleled institutional sponsorship platform for growth companies. By focusing exclusively on emerging growth companies, Roth Capital has developed a deep understanding of these companies, their entrepreneurial managers, and their highly specialized financing needs.
Roth Capital's experience and capabilities in raising capital for public companies are the hallmarks of the firm. Roth Capital has raised over $10 billion for small and micro cap public companies and completed over 135 merger, acquisition, and advisory assignments. Since year 2000, Roth Capital has been a leading placement agent for a number of PIPE transactions, raising over $2 billion for their clients. Roth Capital received top 20 IPO aftermarket performance rankings for six consecutive years from 1994 to 1999.
Joseph Schimmelpfennig, Managing Director of Roth Capital, stated, "At Roth we pride ourselves on finding and supporting promising growth companies. We like the evolving energy drink market and we are very impressed with the business model and the management team at Who's Your Daddy. We look forward to helping Who's Your Daddy recognize their full potential, which we believe to be considerable."
"We are very pleased to enter this relationship with Roth Capital," stated Edon Moyal, CEO of Who's Your Daddy. "Our business model for the next year calls for a high level of sustained growth, and the support and resources of Roth Capital solidifies our utter confidence that we can achieve that growth."
San Diego Tuesday April 17, 2007 Who's Your Daddy, Inc. (OTCBB: WYDY) announced today that its Board of Directors has approved the restructuring of its Managements' compensation in an effort to enhance
shareholder value, and to demonstrate managements' confidence in both the Company and its brand.
The Chief Executive Officer, President and Chief Financial Officer have elected to modify
all warrants previously issued to them by eliminating the cashless exercise provision and extending the term.
As a further restructuring of its executive compensation packages, the CEO and President have also agreed to forfeit their current revenue sharing provision. Under the terms of their current employment agreements, both the CEO and President were to receive 2% of the annual gross revenues as additional compensation. Both executives have elected to forfeit this revenue sharing compensation provision and instead, they have opted to receive future non cashless warrants based on annual gross revenues of the Company.
In addition, all previously issued warrants with cashless exercise provisions resulting from prior financing transactions shall be converted to warrants which require full payment on exercise.
If the warrant holders fully exercise all of these warrants, the elimination of the cashless exercise feature would result in the payment to the Company of an additional $13,000,000 (thirteen million dollars).
Edon Moyal, CEO of Who's Your Daddy, said, "We feel these are the right steps at this time to reaffirm managements' strong commitment and confidence in Who's Your Daddy and its future success. We want our shareholders to know that we are building a first class organization and brand and that we as management believe these are necessary steps to demonstrate the depth of our commitment and the importance that we place on enhancing shareholder value."
The full details of this modification will be filed with the SEC on Form 8-K later this week.
Ridgeland, MS, APR 13, 2007 Who's Your Daddy, Inc. announce that its latest Southern San Diego County distributor has opened over 400 new accounts during its first four weeks of distributing the Company's Who's Your Daddy(R) "King of Energy(TM)" Drinks.
This aggressive and accelerated market penetration was accomplished with eight sales representatives dedicated exclusively to promoting and distributing the Who's Your Daddy "King of Energy" Drinks, including Regular, Sugar Free and Green Tea (in regular and sugar-free) formulas.
Tn addition, thirteen newly wrapped vehicles bearing the Who's Your Daddy logos and marketing materials have been operating and promoting the Company's "King of Energy" Drinks throughout the county.
Since the Company began selling its Who's Your Daddy "King of Energy" Drinks in neighboring Northern San Diego County, through distributor Markstein Beverage Company (www.abwholesaler.com/markstein), the Company has been planning to expand its "King of Energy" Drinks presence into the Southern region of San Diego County, which Markstein Beverage does not service.
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