Investor Update 8-14, 2023

Investor Update 8-15

Dear Seven Stills Investors,


I wanted to take the opportunity to send you all an update on the current status of the company, and what to expect in the coming months.


BK Chapter 11 - Subchapter 5

I am currently working on preparing for a chapter 11, subchapter 5 bankruptcy filing for the business.


The chapter 11, is unique from a chapter 7 in that it gives the company the chance to restructure and reduce its unsecured debts and repay them over a 3-5 year period.  


The courts will still have the ability to deny the plan and move the company to a chapter 7, but I am optimistic that will not happen.

Steps to Complete:

Several things need to occur simultaneously to execute this plan.  

1) The company’s books need to be in order and up to date.  The company needs to resume its corporate status and finalize its taxes.  

2) The company needs to be in business and generating income.  

3) The reorganization plan needs to be approved by the court and put into motion.  

What’s in the works:

I am currently working on first reinstating our corporate status and finalizing our tax returns.  


Simultaneously, I am working to obtain a type 7 rectifier’s license for the facility in San Diego.  This would allow the company to continue packaging the aging inventory and selling it to licensed retailers.  


I am working with a retailer to help develop an e-commerce platform.


This will be a back end API that will allow the company to receive orders directly from the site and have them pushed to the retailer to fulfill.  Additionally, since the retailer is licensed to ship in all 50 states we will have the opportunity to begin shipping nationally.


If the plan is approved:

If the plan is approved and the company can resume servicing its debt, we can resume contract manufacturing.


I have already established a relationship with a distillery in San Diego that will be able to take on this contract work if/when the plan is approved.  

Advisory Support Needed:

I am in need of general advisory support from anyone interested.  


This advisory support will be non-technical in nature and is intended to help establish the framework and structure for a rebrand and relaunch strategy.  If anyone is interested in this please reach out to me directly at

Thank you all for your continued support and patience.  If you have any questions/comments/feedback please don’t hesitate to reach out.



Tim Obert

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