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Who's Your Daddy (WYDY) beverages has completed a financing agreement, through its investment banking firm Geneva Equities for $3.75 million, and has already received the first tranche of funding in the amount of $1.25 million. An additional $2.5 million is expected to be funded to WYDY over the next 90 days.
The financing will be used for the production, manufacturing and distribution of the Who's Your Daddy line of merchandise, various licensing agreements nationwide and abroad, and general working capital.
WYDY's first priority will be the development and distribution of its Who's Your Daddy "King of Energy" energy drink.
The beverage program consists of a marketing campaign, which will highlight its energy drink, Who's Your Daddy King of Energy, through a national retail chain in the Southern California area. Upon success of the Southern California market campaign, the Who's Your Daddy King Of Energy product will then be distributed in 14 western states, through 150 regional stores.
WYDY CEO Edon Moyal said, "Our goal over the next year will be the marketing and distribution of the Who's Your Daddy product line as well as creating mass brand awareness and retail market penetration on a nationwide basis. The recent round of financing will allow us to achieve this goal on a larger scale over a shorter period of time than initially anticipated.”