v2.4.1.9

SUBSEQUENT EVENTS

12 Months Ended

Mar. 31, 2015

Subsequent Events [Abstract]

Subsequent Events [Text Block]

NOTE 17 — SUBSEQUENT EVENTS

Equity distribution agreement - Between April 1, 2015 and June 11, 2015, the Company sold an additional  633,209 Shares pursuant to the 2014 Distribution Agreement, with total gross proceeds of $1,040,541, before deducting sales agent and offering expenses of $20,870.

Investment in Copperhead Distillery Company

In June 2015, the Company purchased approximately 20% of Copperhead Distillery Company (“Copperhead”) for $500,000. Copperhead owns and operates the Kentucky Artisan Distillery. The investment is part of a wide-reaching agreement to build a new warehouse to store Jefferson’s bourbons, provide distilling capabilities using special mash-bills made from locally grown grains, and create a visitor center and store to enhance the consumer experience for the Jefferson’s brand. The Company’s investment will be used for the construction of a new warehouse in Crestwood, Kentucky dedicated exclusively to Jefferson’s and will be accounted for under the equity method of accounting.

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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.

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