Southern Products CEO (CFO, Principal Accounting Officer, and sole director) Tyler Richard, 19, has a dream. A dream to sell custom-made beer pong tables that retail for (starting at) $300 a pop, with "more customized tables" going for $400-$600. Mr. Richard truly believes that no one wants to play this game on some POS ping pong table or any old hard surface they can get their hands on. The demand for an Official Beer Pong table made out of foam and stucco is there. But, there is a bit of a problem.
As of February 28, 2010, we had $9,500 in current assets and current liabilities in the amount of $3,500. Accordingly, we had working capital of $6,000 as of February 28, 2010. Our current working capital is not sufficient to enable us to implement our business plan as set forth in this prospectus. Our management estimates that, until such time that we are able to generate sales revenue sufficient to pay our ongoing and planned expenditures, we will experience negative cash flow in the approximate amount of $2,500 to $3,500 per month. For these and other reasons, our independent auditors have raised substantial doubt about our ability to continue as a going concern. Accordingly, we will require additional financing, including the equity funding sought in this prospectus.
That's where you come in! Southern Products will be offering up to 2,500,000 shares of common stock, at $0.005 per share. The only risk factors, according to Mr. Richard, are the beer pong might go out of style, that Richie has not business experience (he's an undergrad) and that The Company might not be able to keep up with what will surely be a huge demand for these bad boys. Another unlikely risk is the potential for people to die while playing, and the Southern Products could get sued but it's unlikely. And, their auditor says the company has little or no assets and may cease to exist pretty quickly. But just forget about all that. All you need to worry about is getting in on this before it's too late. If you require more convincing, if you need to be finessed, if for some reason you have no idea what the hell beer pong is, have a look at the prospectus. It's all in there, including the rules of the game, and a diagram of a table. This opportunity (probably) won't last.