8-KEarnings & ResultsExhibits & Filings

Monster Beverage Corp 8-K Report, Financial Results (May 7, 2007)

Filed May 7, 2007For Securities:MNST

Summary

This 8-K filing from Hansen Natural Corporation (now Monster Beverage Corp) on May 7, 2007, primarily addresses the delay in filing its first-quarter 2007 Form 10-Q. The delay is attributed to the ongoing special investigation into the company's stock option grant practices, initiated after a request from the SEC in October 2006. The company announced on March 23, 2007, that the special committee had largely completed its investigation. Due to this, Hansen Natural is not yet in a position to finalize its first-quarter financial statements and related disclosures. The company is providing selected financial information for the first quarter ended March 31, 2007, and 2006, through a press release disseminated on the same date as this filing. Investors are advised that the full financial picture for Q1 2007 will be delayed. Hansen Natural intends to file the Form 10-Q as soon as possible to maintain its listing on the Nasdaq Capital Market.

Key Highlights

  • 1Hansen Natural Corporation (now Monster Beverage Corp) is delaying its Q1 2007 Form 10-Q filing due to an ongoing special investigation into stock option grants.
  • 2The SEC's Pacific Regional Office had previously requested documents related to Form 4 filings and stock option practices.
  • 3A special committee was appointed in November 2006 to investigate certain option grants and has substantially completed its findings as of March 23, 2007.
  • 4The company is unable to complete the preparation of its first-quarter 2007 financial statements and related information at this time.
  • 5Selected financial information for Q1 2007 and Q1 2006 is being provided via a press release filed as an exhibit.
  • 6Hansen Natural intends to file the Form 10-Q as soon as practicable to comply with Nasdaq listing requirements.

Frequently Asked Questions

The company is delaying its Form 10-Q filing because it is still completing its first-quarter financial statements and related disclosures. This delay is a direct result of an ongoing special investigation into the company's stock option grant practices, which was initiated following a request from the SEC.

The special investigation pertains to the company's stock option grant practices and certain SEC Form 4 filings. A special committee was appointed to look into these matters and has substantially completed its findings.

The filing states that the company intends to file the Form 10-Q as soon as practicable. While selected financial information for Q1 2007 and Q1 2006 is being provided via a press release, the complete financial statements and related information required in the Form 10-Q are not yet finalized.

The company acknowledges that it must file its Form 10-Q within a specific timeframe to maintain its listing on the Nasdaq Capital Market. They are committed to filing the report as soon as possible to ensure continued listing.