Company overview

Wine accounts for most of AMASS Brands’ sales, with brands including Summer Water rosé, Pizzolato MUSE and Good Twin alcohol-free wine. It also sells spirits such as Calirosa tequila and AMASS spirits, alongside non-alcoholic alternatives. Licensed distributors buy its beverages and supply retailers, bars and restaurants; consumers also buy directly through its e-commerce platforms. Substantially all revenue comes from the United States.

AMASS relies on outside producers and bottlers rather than operating its own manufacturing facilities, and sources all grapes and bulk wine from third parties. Sales depend on distributors getting products into stores and venues, within alcohol laws that govern licensing, distribution and relationships between suppliers, wholesalers and retailers. Continued use of the AMASS brand also depends on a license from Resonant, which owns the trademark.

The wine business has additional exposure to Full Glass Wine Co. Below-cost wine sales and fixed-price purchase commitments have hurt gross profit and cash flow. Full Glass is in default under its wine purchase agreement, and AMASS is negotiating a settlement. Separately, limited capital and recurring operating losses have raised substantial doubt about AMASS’s ability to continue operating; it needs sufficient operating cash flow or additional funding to meet its obligations.