Reed'S, Inc.REED

The most interesting fact about Reed’s Inc. is that it lost $6.5 million in the quarter to 31 March while ringing up only $7.1 million in sales, a ratio that would make accountants weep into their calculators. Operating losses of $6.2 million and negative operating cash flow of $5.8 million show the company is burning working capital faster than a teenager with a credit card. Diluted earnings per share landed at minus 55 pence on 11.8 million shares, a figure shareholders would rather not see on their dividend statement.

Reed’s, a Delaware corporation selling beverages and goods that presumably include ginger beer, has spent the last two months filing amendments and ownership updates like a contestant on a regulatory game show. A Schedule 13D/A filed on 5 June and an 8-K on 11 June did not turn the loss into a profit, and an 8-K on 3 June disclosed a private placement that did not reverse the red ink. The company’s Form 3 filing on 4 May shows insiders still own the same shares, proving even founders have stopped reaching for their chequebooks.

The 13 May 10-Q confirms assets of $18.7 million against liabilities of $16 million, leaving equity at $2.7 million and inventory up $740,000 to $8 million. The company spent just $73,000 on property, plant and equipment in the prior comparable period, a figure that suggests the business is running on borrowed time rather than new machinery. Payments to acquire PP&E in the latest period are not disclosed in the evidence, so we cannot tell whether the company has scaled capex or simply stopped spending.

Reed’s operates in the beverage and consumer goods space, where shelf space is finite and marketing messages are legion. The company’s own press announcement on 12 May 2026 labelled the quarter “disappointing,” a polite way of saying the commercial flywheel is still turning in reverse. The filing index on SEC EDGAR shows the issuer’s latest submissions, but it does not prove the company can reverse its cash burn or replenish its working capital without new capital or a product reset.

If you want to see the filing trail in one place, SEC EDGAR’s index for Reed’s Inc. collects the latest submissions; the companyfacts JSON breaks down the latest XBRL disclosures, and the submissions JSON lists the filing types and dates. None of these sources prove the company has a viable path to profitability or liquidity relief; they only prove the company has disclosed its shortfalls.

What the evidence cannot tell us: whether the company’s products are priced correctly, whether its distribution network is expanding or contracting, whether its marketing spend is efficient, or whether any strategic review is under way. The company has not filed segment-level revenue or profit, capex guidance, or a liquidity plan in the latest evidence, so the source requires readers to rely on management commentary that the market may or may not trust.